Need cash today? A gold loan is the fastest way to unlock the value of your jewellery — most Salem borrowers walk out with money in under 30 minutes. Here's exactly how the process works at YoursPay, what documents you need, and how to squeeze the highest per-gram rate from your ornaments.
Step 1: Bring Your Gold and ID
Walk into any YoursPay branch with your gold ornaments (18 to 24 carat), one government photo ID (Aadhaar, PAN, driving licence or voter ID) and one address proof. No income proof, no CIBIL check, no guarantor.
Step 2: Free Gold Valuation
Our certified valuer weighs your gold on a calibrated scale in front of you and tests purity using a non-destructive stone/acid or XRF machine. You see the reading live — no black-box pricing.
Step 3: Loan Amount Offer
As per RBI norms, lenders can advance up to 75% of the current market value of your gold. YoursPay offers among the highest per-gram rates in Salem — often 5-10% more than pawn shops.
Step 4: KYC and Digital Signature
5-minute paperwork: loan agreement, pledge form and repayment schedule. Sign digitally or physically — your choice.
Step 5: Instant Disbursal
Cash up to ₹20,000 or NEFT/IMPS to your bank account for anything higher. Total time from walking in to money in hand: usually 20-30 minutes.
How to Get the Highest Loan Value
Clean your ornaments before pledging — dust and old polish can reduce visual purity assessment. Avoid stone-set jewellery where possible; only the gold weight counts. Always ask for a weight and purity certificate — it protects you when redeeming.
Safety of Your Gold
YoursPay stores every pledged item in insured, CCTV-monitored vaults. Each packet is tamper-sealed in your presence and reopened only when you repay. Read more about our Gold Loan safety promise.
Frequently Asked Questions
What is the minimum gold quantity for a loan?
You can pledge as little as 1 gram at YoursPay Salem branches. There is no upper limit — high-value loans above ₹5 lakh are also handled the same day.
Can I repay a gold loan early?
Yes. YoursPay charges zero prepayment penalty. You pay interest only for the days you actually used the money.
Do I need a bank account to get a gold loan?
For loan amounts up to ₹20,000 you can receive cash. Larger amounts are transferred to any bank account in your name via NEFT or IMPS.
Talk to a YoursPay advisor — visit our Hasthampatti head office in Salem or call +91 98945 76238. First consultation is always free.