Eight Easy Steps To Release Pledged Gold

Are you stuck with recurring interest on your gold loan? Or have you already exhausted the funds from your gold loan and now need more? Releasing your gold loan can be a daunting task, leaving you worried about the consequences. Who knows? Your gold could even be kept for auction and sold to someone else. Not only would you be losing your precious gold, but you may also miss out on the chance to receive cash for its full value. But don’t worry; we have the perfect solution for your situation. With White Gold, you can take the burden off your chest by releasing your gold loan and providing you with instant cash by buying your released gold. 

In this blog post, we will discuss eight easy steps to release pledged gold with Whitegold.

Step 1: Gather Your Documents

The first step to releasing your pledged gold is to gather all the necessary documents. Start by finding the pledge receipt given to you by the gold loan provider. 

Step 2: Carry ID Proof

Along with your pledge receipt, make sure to carry a valid ID proof. This could be your Aadhaar card, passport, voter ID, or any government-issued identification that establishes your identity.

Step 3: Find the Nearest White Gold Branch

Locate the branch of White Gold closest to you. If you’re in Karnataka, Tamil Nadu, or Kerala, you’re in luck because we have over 50 branches across these regions. The process is more convenient if you locate our branch close by.

Step 4: KYC Verification

Upon reaching the branch, be prepared for a Know Your Customer (KYC) verification process. This typically involves submitting your ID proof and address proof. The KYC check is an essential step to ensure the transaction’s legality and your security. As an additional layer of security, we may make a verification phone call to your family or a trusted contact. This call helps confirm the legitimacy of the transaction and ensures that you are willingly releasing your gold.

Step 5: Check Gold Rate

Before proceeding further, we check the current gold rate. Our gold rates are directly sourced from MCX India. Knowing the current market rate for gold is crucial, as it will impact the final amount you receive when releasing your pledged gold.

Step 6: Release Pledged Gold 

Once you’ve completed the KYC process and document verification, it’s time to release pledged gold. This involves signing a term sheet. A representative from White Gold will accompany you to ensure a smooth closure of your gold loan.

Step 7: Check Gold Purity

After releasing your gold, you will return to our branch to sell it for instant cash. Before finalizing the transaction, we make sure to check the purity of your gold. White Gold, being one of the most reputable gold buyers, uses tamper-proof German machines for accurate valuation. This step ensures that you receive a fair value for your pledged gold.

Step 8: Instant Payment

Congratulations! You’ve successfully released your pledged gold. In return, you’ll receive instant cash. For your security, the money is transferred directly to your bank account. Before leaving the branch, you can verify the money transfer to ensure a seamless and trustworthy transaction.

Conclusion

If you find yourself trapped in a cycle of loans and are struggling to make payments, we empathize with your frustration and stress. That’s exactly why White Gold is here to help. We have over 6 years of experience releasing your pledged gold and turning your gold into instant cash. When you choose White Gold, you can rest assured that we will handle every aspect of the process. From paying off all your interest to successfully releasing your gold, we take care of it all. Say goodbye to your financial hurdles and contact us today!