How To Buy Gold Jewellery On EMI In India?

Digitization has transformed the physical market to virtual market. People can buy any small or huge product with a single mobile click. Traditional way of buying things physically has become an outdated version in the era of the digital world. Various online shopping platforms have a variety of things available from clothing to grocery as well as buying electronic products too.

But do you know? Nowadays gold can also be purchased online without visiting a jewellery shop. Buying gold jewellery online has become easy and popular because of several online platforms. But purchasing gold requires a good amount of money in hand.

What to do in case you don’t have enough funds to buy gold jewellery that you liked? Well, let me tell you nowadays buying gold jewellery is not a problem with the EMI facility; that is Equated Monthly Installments. This way you can pay a fixed sum of money every month over a fixed tenure. But for buying your favourite jewellery on EMI you need to know which are the methods to buy gold jewellery online on EMI. So, without any further delay, keep reading to know more!

What are the Methods to buy Gold Jewellery on EMI in India?

A precious metal like gold is considered the most valuable metal across the world. But every person can’t afford to buy gold frequently. So, at that time buying Gold on EMI is a convenient option, for those who can’t afford to pay a lump sum amount of money together.  There are mainly two methods by which you can buy gold jewellery- Personal loan and Credit card.

Personal Loan

Personal loans can come to your rescue when you don’t have enough funds to buy jewellery. You can opt for a personal loan at an affordable rate of interest from a bank or financial institutions. Maximum tenure is of 5 years, but you can choose the tenure as per your convenience and repayment capability. The interest rates on the personal loan vary from one lender to another. And it also depends on your age, type of employment, job history and monthly income.

Credit card

Credit card is a much-preferred option to buy various things. In the pursuit of buying gold jewellery, credit cards can be one of the suitable options for EMI payments in India. If you don’t have hard cash for payment, credit cards can be used for payment purposes. To avail this facility, you need to pay a certain interest on the amount that you have used with your credit card. But make sure you check the credit limit of your credit card before buying gold. For instance, if the credit limit of your card is INR 1 lakh, you can buy jewellery worth INR 1 lakh only. After paying the full amount with your credit card you can convert transactions into easy monthly installments of 6,9, 12 months or more. You can choose the tenure as per your capability of paying.

How does gold jewellery on EMI work?

• It is a very simple process to buy gold jewellery on EMI. First, you need to select your favourite jewellery either online or offline.
• The next step is to select the EMI option and down payment. Down payment amount varies based on jewellery type and weight.
• After that you need to provide your personal information including address, income proof, and PAN card details. With that you also need to sign the loan agreement.
• Some banks or institutions carry physical verification to verify the mentioned address on the loan application.
• On approval of the loan, you can purchase jewellery on EMI.

Augmont is a leading brand providing gold jewellery on EMI. For buying gold jewellery through  Augmont Gold EMI following steps need to be followed.

1)  Book your jewellery by paying 20% upfront and the balance can be paid later.

2)  Augmont provides a facility of paying installments in 3,6 or 9 months. As per customers convenience.

3)  After successful completion of your EMI payments, get 100% insured doorstep delivery of your gold.

4)  The customer can get all details of the booked product, EMI paid, amount pending in the “My orders” tab on the dashboard after entering the login details.

           Is it a good option to buy Gold Jewellery on EMI?

Before opting for the EMI option, considering some points is important. Afterall, you are spending hard earned money for payment. Taking proper and wiser decisions is recommended.

• Processing fees- Most of the offers come with processing fees. The amount of processing fees is 3-4% of the jewellery That means you are paying 3-4% extra while buying gold jewellery on EMI.
• Documentation- You will need to provide various documents and sign loan agreements for getting approval.
• Time- The approval process generally takes 24 hours. You will have to wait till 24 hours to avail this offer.
• Offer availability- This offer is generally available for the jewellery price above Rs. 10000.