How gold loan closure works
- 01
Visit our branch
Bring your gold loan details and the required KYC documents to our Kurnool shop.
- 02
Gold loan bond assessment
We check your gold loan bond or pledge details and assess the outstanding loan amount.
- 03
KYC verification
Our team verifies your identity and KYC documents, so the transaction is safe and on record.
- 04
Documentation
Complete the required loan release and gold sale documentation.
- 05
Release pledged gold
We assist with the settlement process to release your pledged gold from the bank or finance company.
- 06
Purity check and valuation
After release, we check the gold’s purity and weight and give you a transparent valuation.
- 07
Balance settlement
After adjusting the settlement amount, the balance is paid to you by UPI or cash within legal limits.
How your balance is worked out
Balance paid to you = value of the released gold − the loan closure amount. The closure amount is what the lender asks for on the day: the principal, interest up to that day and any charges in your loan terms.
We show you both figures before anything is finalised. Always collect the lender’s closure receipt.
Signs it is time to close your gold loan
- Interest keeps growing faster than you can pay
- Renewal is due and you cannot pay the interest
- You have received an auction notice
- Your gold is worth much more than what you owe
- You are paying interest on more than one loan
Gold loan or selling gold: a quick comparison
| Keeping the gold loan | Closing it and selling | |
|---|---|---|
| Ownership | Gold stays yours while you repay | Gold is sold and the balance is yours |
| Monthly cost | Interest every month | No further interest |
| Risk | Auction if payments are missed | No ongoing risk |
| Best when | You can repay on time and want the gold back | You cannot keep up, or no longer need the gold |
What to bring
- Photo ID, address proof and PAN card
- Gold loan receipt or loan account number
- Name and branch of the lender
- Latest outstanding amount, if available
- A UPI ID or UPI-linked mobile number for the balance
Every lender has its own closure steps and branch timings, so call us with your loan details before you visit.
Please note
Value Money Gold does not give gold loans. We help you close an existing gold loan and buy the released gold.
Read the full pledged gold guide