The days when you could get a gold loan was seen as a typical transaction where the borrowers had to go to the branch on every single occasion, including request for loan approval, loan disbursement, loan repayment, loan closing and even putting the pledged value in custody.
In digital transformation and the New Era and Digital transformation, life has become easier and the borrower is offered with numerous options where account details are useful and real-time transactions are completed on your Mobile itself and a free gold loan interest rate calculator can be availed. The entire documentation and identity verification process required for the same can also be completed easily, all thanks to the digital banks who have partnered with the best service providers like verification service from Fully-Verified to help smoothen the entire process. Digital space provides the best experience to those who wish to take advantage or are already users for Financial Institutions who are dealing with gold loans and providing their clients by providing online facilities.
Some online services that could be used by gold loan customers today, there is a huge increase in the use of the majority of the customers using Android mobiles and find it simple to use.
After obtaining the loan, that is a one-time procedure performed by the borrower, it is not necessary for visiting the bank up to the date of maturity of the loan or post-mortality, the borrower may continue using the same loan. A few of the services that are available through the online method are as follows:
Online Disbursement
Gold pledge and post application and the amount of disbursement can be transferred to the customer’s account via online mode to his bank account to be used
Access to online transactions via the web: Once the customer is registered with his personal number with the lender company for future communication, it is also the most crucial factor to gain on-line access of his accounts. The customer is able to easily check the repayment history of his loan as well as the principal outstanding and any available discounts on his account by using payments made online.
Application for mobile devices
This is a preferred method of loan transaction since the borrower can download the loan application from the company on his phone and access his entire dashboard, including active relationships, get the free gold loan emi calculator and know the amount of interest to be paid on every account. And pay online for EMI/Interest on any or all relationships accounts effortlessly using Payment gateway. It also allows you to update and maintain payment records to be able to refer back later. Account history and other information are accessible in the application via its dashboard, which covers all aspects of the relationship.
Online gold loan
In older days, the borrower may also visit the branch once for an application for a loan and also start the credit line cap according to his gold value and plan LTV in conjunction with finance companies through the pledge of gold and storing it in the vaults of the company. Using the application on mobile or the Digital platform. Application for disbursal can be submitted via the internet using the mobile verification. There is no need to go to the branch, instead save time and make multiple withdrawals or deposits into the account via online access. This reduces the cost of travel and instant funds credit and partial payment are feasible on his account which can add to the flexibility. When the account is at its end, the customer can choose to renew the facility or to close the facility with bullet payments as the OD account.
Some online services that instant loans clients might use today have seen a significant rise in utilization, with the majority of consumers using Android mobiles and finding them straightforward to use.
Doorstep Gold Loan
Many firms and NBFCs have adopted this method and are operating well due to its distinctiveness. The product ensures the complete security of customer’s information because the transaction takes place in the location of the customer via the internet and then the cash is disbursed through digital mode simultaneously prior to taking the cash from the customer’s home to store in Bank vaults.
The above-mentioned features make the gold loan among the top options among other loan options to raise funds and meet risks.
The digital world is rapidly changing and we will see many new techniques that focus on customer satisfaction and are able to control the operations and processes at the back end. We have to say that it’s the most advanced banking system or loan systems have allowed for a wide potential for finance companies as well as access to greater sections and regions that physical reach was not accessible with only a small presence.
The digital revolution has brought about an evolution in the banking industry and it will continue with the addition of new services and simplifying life and providing a delight to the user.
Rupeek can help you get the top as well as the most lucrative gold loan with the lowest interest. They offer low interest on both offline and online gold loans from the comfort of customers’ homes. The aim is to make credit available to all with no processing fees, and there are no fees hidden.