How the Settlement Works
Siddhi Vinayak Assay Centre helps customers settle their existing gold loans and receive instant payment against their gold. Our team manages the complete process from document verification to loan closure and gold release, ensuring a secure, transparent, and hassle-free experience.
Detailed Workflow
Step 1: Submit Your Loan Details
The customer contacts our team through phone, WhatsApp, or website inquiry.
- Gold Loan Papers
- Aadhaar Card
- PAN Card
- Cancelled Cheque / Bank Details
Once received, our team reviews the documents and initiates the settlement process.
Step 2: Free Settlement Quote
Our experts evaluate:
- Outstanding Loan Amount
- Gold Weight & Purity
- Market Gold Value
- Settlement Eligibility
Based on the evaluation, a transparent quotation is provided.
Step 3: Field Verification
A dedicated Field Manager is assigned to the case.
- Physical verification of original documents
- Aadhaar authentication through OTP verification
- Customer identity confirmation
- Photograph & Signature collection
This step ensures complete security and fraud prevention.
Step 4: Bank Verification
Our representative visits the gold loan branch and verifies:
- Loan Status
- Outstanding Amount
- Customer Ownership
- Loan Authenticity
Ensures all information is accurate before proceeding with payment.
Step 5: Approval & Payment
After successful verification:
- Customer bank account is verified
- Documents are rechecked
- Final approval is issued
- Settlement amount is processed securely
The payment is transferred directly to the customer's bank account.
Step 6: Gold Loan Closure
Once payment is completed:
- Our representative accompanies the customer to the branch
- Loan closure formalities are completed
- Gold is released by the lending institution
- All documents are verified during handover
Step 7: Final Settlement
After release:
- Gold is weighed in front of the customer
- Weight is recorded
- Final transaction is completed transparently
- Settlement process is closed
COMPLETE WORKFLOW OVERVIEW
Customer Inquiry → Document Submission → Free Quote → Field Verification → Bank Verification → Approval → Payment Processing → Loan Settlement → Gold Release → Gold Weighing → Final Purchase → Process Completed
Why Choose Siddhi Vinayak?
- Secure Verification Process Every customer and document is physically verified before processing.
- Transparent Valuation No hidden deductions or surprise charges.
- Fast Settlement Quick processing from verification to payment release.
- Dedicated Support A dedicated representative assists throughout the process.
- End-to-End Assistance From loan closure to gold release, our team handles the complete journey.
Documents Required
- Aadhaar Card
- PAN Card
- Gold Loan Papers
- Cancelled Cheque / Bank Details