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Here's how can you can get a gold loan at your doorstep, literally

If you cannot repay the gold loan, the lender may seize and auction the pledged gold to recover the outstanding balance.

March 24, 2022 / 10:09 AM IST

In the last two years, the COVID-19 pandemic has changed the way we bank and apply for loans. Now, borrowers prefer applying for loan products on the lender's website or through a mobile application. With an increase in demand for gold loans and to make things easier amid the pandemic, some banks, non-banking finance companies (NBFCs) and new-age fintech lenders have launched a gold loan at your doorstep service.

Financial institutions, including Federal Bank, ICICI Bank and IIFL Finance, gold loan NBFCs Indel Money and Manappuram, and fintech lending websites Rupeek, Ruptok, Dhandar gold, etc, offer gold loans at your doorstep. Let’s take a look at how this operates.

Here's how to apply for a gold loan at your doorstep

You can book an appointment for a gold loan at the doorstep service through the lending bank, NBFC or fintech website and mobile application of the above mentioned firms. A loan manager will visit your home to carry out the due diligence and gold valuation.