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Doorstep Gold Loan Services: All You Need to Know
With the recent trend in digitised transactions in almost every industry, companies are now pushed to tweak their digital presence to meet the ever-growing demand of customers. This process includes companies that offer gold loans that go a step further by offering doorstep gold loan services. Doorstep gold loan services literally offer a gold loan at the confines of your home. It means that gold loan companies have gone a step forward by ensuring that their loyal customers are offered gold loans both online and offline.
Availing of a gold loan online often requires calculating online loan eligibility through EMI interest rate calculators. The next step is to physically visit a gold loan company branch office to evaluate the gold valuation and the documents required to be submitted. On the contrary, you avail a doorstep gold loan, you don’t need to step out at all. All you need to do is apply for a gold loan from the comfort of your home and schedule an appointment.
Once that is done, an executive would physically value the gold at your home, check the eligibility criteria, and finally walk you through the documentation. On successful verification, the doorstep gold loan is credited to your bank account in no time!
So, what are the documents required to verify a doorstep gold loan? What is the process to apply for it? Here, let’s check it out.
Documents Required for Doorstep Gold Loan
- Proof of Identity: The first document which is required by the Bank or NBFC this is your proof of identity which includes driving licence, passport & etc.
- Proof of Address: PAN card, driving licence, passport, voter ID, Aadhaar card, ration card, or any utility bill in the name of the owner or the landlord that is not older than three months.
The Process to Apply for a Doorstep Gold Loan
It is quite simple to apply for a doorstep gold loan – all you will need is a computer or a smartphone to calculate and apply for it. Let’s check out the simple steps of the process.
Step 1: Firstly, to learn more about the gold loan at doorstep services, check the lender’s website or download its mobile application.
Step 2: In order to understand the most appropriate scheme for you, a designated gold loan executive will visit your home. You will then be required to conduct due diligence checks and to have your gold valued in the presence of the expert.
Step 3: The executive then walks you through the documentation for the gold loan at-home scheme to be completed and verified.
Step 4: Following the completion of all formalities, the executive will request that the loan be transferred to the customer’s bank account.
Step 5: In the final step, the borrower will receive a safe return of the deposited gold upon settlement of the loan amount, including principal and interest.
Benefits of Doorstep Gold Loan
The new-age fintech-enabled gold loan companies have taken the customer-friendly approach to a whole other level. Let’s check out some of the reasons why one should go for a doorstep gold loan service:
- Safety
A doorstep gold loan scheme involves the Canara Bank executive valuing your gold at home and transporting it safely to the branch. However, it is highly recommended that customers be extra cautious when handling gold valuables for in-house valuations.
- Doorstep Service
As the name suggests, a doorstep gold loan service is offered by a highly trained and authorized executive of Canara Bank gold loan within the confines of the customer’s home. The customer does not need to step out at all to complete any formalities as every step is safely and securely conducted at home.
- Quick Valuation and Documentation
The executive will verify all documents needed, including Aadhaar cards or PAN cards as proof of identity, addresses, photographs, etc. Additionally, the gold to be used as collateral is assessed based on its weight, purity, and other prerequisites.
The Bottom Line
It’s encouraging to see that digital lending platforms are gradually enhancing the organised gold loan sector in the country, and this trend will continue in the future. There is an increasing level of security, efficiency, and safety provided by the new-age gold loan platforms, such as doorstep gold loan services. In both personal and professional capacities, they offer a means of utilising unused gold at home. Moreover, the steady rise of the gold rate in India also adds to the advantages of gold loans for people looking for credit.