Frequently Asked Questions
Everything you need to know about the product.
Frequently Asked Questions
Everything you need to know about the product.
“Gold Loan is a secured loan against the pledge of gold as collateral. The value of the loan against the collateral (LTV) is determined by GoldFin/ Partner Institution (Partner) based on the prevailing value (market price of gold) of the net weight of the gold collateral. The loan can be availed for working capital, business expansion, agriculture and livestock, domestic reasons, family emergencies and other lawful purposes.
For Partners, it will be based as per the Partner’s policy.
Gold such as; bars, jewelry and ornaments, can be pledged as collateral. The value of the loan will depend on the purity of the gold and on present value of its net weight equal to 24 karats. The value of gems, stones, lace and string will not be considered and only the value of the net weight of gold will be calculated.
“GSQ Loan is available to all individuals (men/ women) having micro and small businesses, small farmers and salaried individuals, aged 20-68, owns the gold to be pledged and can justify their income to repay the loan.
For Partners, it will be based as per the Partner’s policy.
If customer carries the gold and have all the required documents, the gold loan will be instantly approved by GoldFin. If the customer does not have a mobile bank account, the mobile account (M-wallet) will be opened with the Bank after biometric verification and the loan amount will be credited in customer’s M-wallet instantly.
For Partners, it will be based as per the Partner’s policy.
Before approval of Gold Loan, GoldFin will review and verify the required information and documents. For GSQ Loan, the mandatory requirements are as under: -
Emergency Loan
- Valid CNIC
- Copy of utility bills
- Visiting card / letter head, if available
- Valid means of income to repay
Business Loan
- Valid CNIC
- Copy of utility bills
- Visiting card / letter head, if available
- Proof of business
- Copies of permission/ licenses for business, if available
- Valid means of income to repay
For Partners, it will be based as per the Partner’s policy.
You can avail loan of Business, Salary and Emergency from PKR 40,000 to 500,000 and of Enterprise from PKR 500,001 to 1,000,000.
For Partners, it will be based as per the Partner’s policy.
The maximum tenure of the loan is 1 year. Customer will have to pay the total outstanding dues (principal, mark-up and other charges, if any) at the time of maturity of the loan. Customer can also avail the facility of rollover after repayment of due markup / other charges for that period. The loan can be rolled-over for another 12 months. A maximum period of loan will be three years, covered by two rollovers, thereafter the customer has to fully settle the loan before any further offering can be made.
For Partners, it will be based as per the Partner’s policy.
The option to pay-back the loan amount before its maturity is available. There will be no fee/ expense except the due markup and other charges, if any.
For Partners, it will be based as per the Partner’s policy.
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