Is there any diamond loan in India?

Diamond Loan is a not familiar concept in India, there are very few diamond buyers offer Diamond loan. There are many jewellery types that used to get a loan. People choose to pledge their gold, silver, or diamond to get instant cash. … Diamond is one of the precious ornament that has been used to avail the loan.

Do banks give loans to diamond?

As per the current system, no bank in the country provides loans for buying diamond-studded jewellery items. … Moreover, they are of the view that the authorisation of PAN card or credit or even Cibil scoring can be taken into account before finalising the loans.

Does muthoot buy diamond?

The buyback of solitaire diamonds will be offered at 90 per cent of prevailing rates as per ‘Nationwide Standard and Transparent Price List’, which makes it a very transparent process, at Muthoot Gold Points, he said.

On which brand you can get loan against diamond in a transparent way without any hassle?

Sai gold has reached the epitome of quality service. We provide diamond collateral loan with the assurance of 100% transparency in our working process.

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What is the resale value of diamond?

Diamonds resell for 25% to 50% of their purchase value. So if you purchased your diamond jewelry for $1500, the resale value will be somewhere near $855-900, depending on the buyer’s preferences. That’s why only rare and big diamonds are good for investments.

How can I get a loan from diamond?

To request a PayDay Loan, customers who have their salary accounts in Diamond Bank should simply dial *901*11# on their mobile phones and follow the prompts. This service is available 24 hours a day, 7 days a week, and can be accessed from anywhere.

Can we get gold loan on diamond Jewellery?

Most of the lenders, do not offer a loan on diamond jewelry, but some lenders offer a loan on 18 karat Gold and diamond ornaments. Here you will be getting loan amount on the basis of gold content, not on diamonds. Some private Jewelers provide loans against diamond Jewelry. But, the interest rate will be quite high.

Which bank is best for gold loan?

Gold Loan Interest Rates Comparison

Name of the Bank Interest Rate Loan Amount
Canara Bank Gold Loan 7.35% p.a. Rs.5,000 to Rs.35 lakh
Muthoot Gold Loan 12% p.a. to 26% p.a. Rs.1,500 onwards
SBI Gold Loan 7.00% p.a. onwards Rs.20,000 to Rs.50 lakh
Kotak Mahindra Gold Loan 10.00% p.a. – 17.00% p.a. Rs.20,000 to Rs.1.5 crore

How can I get a 15000 loan fast?

If you want a hassle-free credit process, then Navi is your answer. With an instant 3 step loan disbursal process, you can have your Rs 15000 loan in your bank account within the day you apply.

Documents Required

  1. Salary Slips or income returns.
  2. Address Proof.
  3. Identity Proofs.
  4. Photographs.
  5. Bank statements and more.
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Do Jewellers give loan?

The Reserve Bank of India (RBI) today via its regulatory statement announced that banks can now lend up to 90 per cent of the gold ornaments value, up from the existing limit of 75 per cent.

Is Muthoot Finance safe?

The Muthoot Finance company assures its customers of utmost security and constant monitoring of all their facilities. Hence, customers can be reassured that their gold is in safe custody. Muthoot Finance gives gold loans starting from Rs. 1500 with no upper limit.

Is diamond a good investment?

Several factors make it a good investment option as compared to gold. Size: The first and the most obvious advantage it has over gold is its size. Unlike gold bullions, diamonds don’t take a lot of room. These precious gemstones were used as a great means of money transfer since a long time ago.

Is GIA diamond worth it?

Simple, it’s GIA. They have the best reputation for accurate diamond grading. A diamond with a GIA diamond report will command more money than a diamond graded by EGL USA. … Because, the diamond market knows that the grading standards for GIA are much stricter than those of EGL USA.

Which is best diamond or gold?

In certain parts of the world, gold is considered a form of currency, which is not true for diamonds. In this sense, gold could be worth more than diamonds. On the other hand, diamonds often have a better resale value, making them worth more when considering this factor.