Frequently Asked Questions

FAQ for Gold Loan

A Gold Loan is a loan obtained after pledging gold in any form such as jewelry, coins or tukda as collateral to a gold loan bank. The loan amount is calculated on the basis of the quantity and purity of gold.

Tenure is the time span in which the loan should be repaid. We offer a tenure of 6 months, 12 months, 24 months & 36 months.

Yes, you can. Once you have paid the amount based on the value of the gold, you can partly release your gold.

The value of the gold is calculated in accordance with the per gram rate in the market. Therefore, the amount will be a gold loan per gram of gold surrendered. While evaluating the weight of the jewelry, only the gold parts are calculated and the stones and other metals are not considered.

FAQ for Life Insurance Policy Loan

The Life Insurance Policy loan allows you to borrow money against your life insurance policy as collateral, providing you with access to funds without surrendering your policy or affecting your life insurance coverage.

Surrender value is the amount that a policyholder gets on an insurance plan if it is surrendered prior to maturity. This forms the basis for the loan against policy, since the loan amount that can be availed directly depends on the current surrender value of the insurance policy.

The loan amount is given on the basis of the surrender value of the Life Insurance Policy. The maximum loan amount is 85% of the surrender value for a paid-up policy. This includes the cash bonus that may be applicable to the policy.

You may be eligible for a loan using Life Insurance Policy as collateral if the following criteria are met:

  • The Life Insurance Policy used as collateral is not a term plan and the policy document expressly mentions the option of availing a loan against Life Insurance Policy.
  • The policy is in effect and the premiums have been paid in a timely manner for at least 3 years.
  • The applicant is an Indian citizen aged at least 18 years.

FAQ for Mortgage Loan (Loan against Property)

Ownership residential (flat, house) or commercial property (building, building with land) as collateral. In some cases, you can also pledge your plot of land as security. However, this has to be freehold land. You cannot use your industrial or agricultural property as security.

Yes, you can foreclose your mortgage loan with zero foreclosure charges.