Can We Sell Gold in Muthoot Finance: As you all know that Muthoot Finance is a leading financial services company based in India, which specializes in providing loans against gold jewelery and other related services, with this company was established in 1939 by M. George Muthoot, and has since grown to become India’s largest and top gold loan company with a presence in 29 states and over 5,800 branches in India.
Apart from this Muthoot Finance Company provides various types of loans to its customers, such as Gold Loan, Foreign Currency Exchange, Money Transfer and Insurance, Mutual Funds, Vehicle Loan, SME Loan, Corporate Loan, Non-Convertible Debentures, National Pension Schemes, Offers a wide range of services including micro loans, wealth management, and much more, plus the company offers competitive exchange rates and instant transfer services to its customers who need money urgently.
What is a Gold Loan and How Does it Work?
Many people will not have any information about it, so let us tell you that gold loan is a form of secured loan, where the borrower pledges his gold jewelery as collateral to the lender in exchange for money. Loans are popular in many countries, especially India, where gold is considered a valuable asset and is widely owned by individuals.
The loan amount that borrowers can avail is usually a percentage of the market value of the gold pledged, further the value of the gold is determined based on the gold prices prevailing at the time of loan disbursement, depending on the quantity of gold. But the loan amount can range from a few thousand to several lakh rupees.
Furthermore, gold loan works on the principle of asset-backed loan, the lender holds the gold jewelery as collateral until the borrower repays the loan amount along with interest and other charges, If the borrower defaults on the loan, the lender has the right to sell the pledged gold to recover the outstanding amount. Muthoot Finance offers competitive gold loan rates and services to all its customers.
Where Can You Buy Digltal Gold From?
As you all know that today you can buy digital gold from many mobile e-wallets, apart from this, some selected brokers also have the option of investing in digital gold.
What is worth noting under this is that an investor buying digital gold will have to pay 3% GST while buying physical gold to cover expenses like storage costs, insurance and trustee fees.
How To Buy Digltal Gold?
So friends, as we have told you all through this article, it is very easy to buy digital gold, and you can buy it by visiting the mobile application of the digital gold company and / or its website, along with this related Information which we are going to provide you through the steps given below.
- For this you have to open the mobile app of your digital gold platform or visit their website.
- After this you have to go to the search bar and search the word Gold.
- After this you have to click on ‘Buy Gold’ or similar section.
- After this, you have to buy gold in amount or buy it in grams, enter the amount and click on ‘Proceed’
- After this you have to choose your preferred payment method among your mobile wallet, UPI, net banking, debit or credit card.
- After this you have to make the payment, and your digital gold purchase is now complete.
Top 5 Companies that Purchase Gold for Cash?
So friends, let us tell you that here are the top 5 companies, which pay you instant cash for gold.
1.Muthoot Gold Point
So friends, let us tell you that Muthoot Gold Point is a division of Muthoot Exim, which provides an easy way to sell your old gold and get instant cash, apart from this the entire process is done in front of you, including the exact gold price. The gold is cleaned using ultrasonic equipment to obtain multilayer scientific tests and accurate weight for its value, apart from this the company uses high quality crucibles in which no gold remains after melting.
Apart from this, the company uses transparent methods of selling gold to ensure that customers get the best value for their gold, it is noteworthy that grant up to Rs 10,000 is given in cash, apart from this, the amount above Rs 10,000 is transferred immediately through NEFT. It will be sent to your bank account through /IMPS/RT.
2.Akshay Gold Company
Apart from this, if we talk about Akshay Gold Company, then let us tell you that Akshay Gold Company uses modern German XRF technologies to quickly and accurately determine the purity of gold. The company sells gold and gold related items like coins, bullion. Apart from gold, Akshay Gold Company also offers silver, platinum and diamond,
Apart from this, you can avail instant cash through various modes of payment offered by the company, it has branches in all major cities of Karnataka and Tamil Nadu.
3.Attica Gold Company
Apart from this, if we talk about Attica Gold Company, then Attica Gold Company is one of the top gold buying companies in India, which provides instant cash for gold, silver and diamonds, and also has 200 branches across the country. With branches spread over 500,000, Attica Gold Company promises a transparent experience with no hidden fees or unnecessary deductions.
It uses high precision purity-checking equipment made in Germany, It also provides additional services like pledged gold, pledged gold issuance, gold financing and pledged gold transfer, The company has branches in Andhra Pradesh, Pondicherry, Tamil Nadu, Telangana, Located in Karnataka etc.
4.Abaya Gold Buyers
Along with this, if we talk about Abaya Gold Buyers, it is a leading gold buying company with more than 70 branches across India, it provides a quick, simple and authentic process, which helps you in getting maximum returns for your gold. Assures you, you can sell gold, silver and diamond jewelery to get instant cash.
It has branches in Hyderabad, Chennai and Bangalore. Abaya Gold buyers buy all types of gold, gold bars, gold coins, silver, platinum etc., and provide cash through cheque, cash and NEFT/RTGS. Apart from this, no making charge is deducted, through which you can get the best price by selling your gold.
DeGold does a similar process, it also provides instant cash for gold jewellery, bars and coins, its Gold Buyback scheme allows you to sell your gold jewelery now and get the payment back in 30 or 60 days. Also, it is worth noting that for valuations above Rs 50,000, PAN and Aadhaar card are required.
Furthermore transactions on DeGold are quick and secure, the company offers various payment modes like cash, NEFT, IMPS and RTGS.
Benefits of Selling Gold at these Gold Buying Companies?
The benefits of selling your gold in the mentioned companies are as follows.
- So let us tell you that the companies buying gold can either pay you in cash or deposit the income from your sale in your account.
- Additionally, the weight of pearls and other non-gold items embedded in the gold is removed to arrive at the weight of your pure gold.
- Apart from this, gold buying companies will reduce their charges and pay you based on the current gold rates.
- Additionally they use German gold testing equipment, which checks the purity and weight of the gold.
Documents Required to Sell Gold Jewellery?
With this you need the following documents to sell your gold.
- Aadhar card
- Proof of address
- Gold receipt
- PAN card
- Passport size photo
Tax Levied On Gold?
So friends, as we have told you, it is very important for you to keep in mind that when you sell gold, you will have to pay tax, apart from this short term capital gains tax will be applied on the basis of tax slab, ‘Short Term’. The term implies sale within three years, when you sell jewelery after three years, long term capital gains will be applicable,
So friends, today we have provided you information about Muthoot Finance Gold Loan Company through this article, so friends, if you also want to get information related to this company, then we have provided you information through this article. We hope that you will like our article very much.