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Gold Loan

BFT Mutual Nidhi is designed to provide liquidity against gold jewellery and any form of gold without having to sell them. Let your gold help you bring the golden period in life.

Features & Benefits-

  • Availed for any amount between Rs.1,000 to a maximum of Rs.10 Lakhs.
  • Hassle-free quick processing of loans.
  • Minimum documentation and quick disbursal.
  • Simplified Paperwork.
  • Easy Payment Options.
  • ATL - Anytime Liquidity.
  • No EMI, Service only Interest and enjoy the Loan facility.

Terms & Conditions:-

  • The valuation of the gold ornaments will be done by BFT Mutual Nidhi through authorized value, and the cost of valuation will be borne by the borrower.
  • Two coloured photographs of gold ornaments are required.
  • Two coloured photographs of borrower and his/her ID proof are required.
  • The loan interest should be paid on monthly basis.
  • Two colored photographs of borrower and his/her ID proof are required.
  • In case of nonpayment of interest for 12 months, the Gold ornaments will be sold by BFT Mutual Nidhi.
  • The expenditure on the sale of gold ornaments plus due loan amount and 5% penalty rest on due amount interest will be deducted and the balance amount will be deposited into loan account.
  • The borrower must provide an affidavit declaring the ownership of the ornaments.
  • In case the borrower does not pay the interest, a penalty of 5% has to be paid along with next interest instalment.

Gold Loan - Eligibility

  • Anyone who is the member and owns gold ornaments can avail the loan. (Note: Minors are not eligible.)
  • To obtain the loan, you need to submit your gold jewellery (within the Karat range of 18 to 24 k) at our branch.
  • The loan amount will be sanctioned based on gold valuation which involves verification of its purity, the weight of stones etc. fixed on the ornaments will be deducted for the intention of valuation.

Documents Required:

  • To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aadhaar Card etc.) and one document of residential address proof (Such as Telephone Bill, Electricity Bill, Water Bill, Bank account / Credit Card Statement, Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from reputed employer/ Public Authority). There are no end-use restrictions on gold loans.