24K solid gold jewellery is the purest form of gold, containing 99.9% gold content. This jewellery is highly valued in India for its brilliant shine and cultural significance. However, its softness makes it less suitable for everyday wear, as it can easily get scratched or deformed. The intrinsic value of 24K gold remains high, making it a preferred option for investment purposes rather than for practical use. Due to its purity, 24K jewellery is often purchased as a store of wealth, especially during festive seasons like Diwali and weddings. It holds a higher resale value compared to lower karat jewellery, and its pure gold content makes it a sought-after asset for securing gold loans.
Understanding solid 14k gold jewellery
14K solid gold jewellery consists of 58.3% gold alloyed with other metals, providing a sturdy, more affordable option. It has a slightly paler colour than higher karat gold but offers excellent durability, making it a popular choice for everyday jewellery like rings and bracelets. In India, 14K gold jewellery is less common than 18K or 22K, but it remains a viable option for those looking for a balance between longevity and cost. Solid 14K gold is less prone to damage, making it ideal for pieces worn regularly. Its affordability makes it accessible to a broader range of buyers, providing an economical yet stylish solution for gold lovers.
How to identify solid gold jewellery?
Identifying solid gold jewellery involves checking for hallmarks, weight, and specific karat markings. In India, genuine gold jewellery is certified by BIS (Bureau of Indian Standards) with a hallmark indicating its purity. Solid gold jewellery should have a stamp showing its karat value (e.g., 18K or 24K), which denotes its purity. You can also assess the jewellery’s weight, as solid gold is denser than gold-plated pieces. Acid tests and magnet tests can also be performed to check authenticity. Buyers should always purchase gold from reputable jewellers who provide proper certification, ensuring the jewellery’s authenticity and value.
The benefits of choosing solid gold jewellery
Solid gold jewellery offers numerous benefits, including long-lasting durability and consistent value. Unlike gold-plated or gold-filled jewellery, solid gold pieces retain their shine and integrity for years, making them ideal for heirloom items. Solid gold is hypoallergenic, making it suitable for individuals with sensitive skin. In India, it also carries cultural and financial significance, often given as gifts during festivals and weddings. Solid gold jewellery also holds its value, and in times of need, it can be sold or used as collateral for gold loans, providing financial security. The investment in solid gold is timeless, with benefits that extend beyond fashion.
Is solid gold jewellery worth the investment?
Solid gold jewellery is considered a valuable investment due to its intrinsic gold content and cultural importance in India. While it may come at a higher cost compared to gold-plated alternatives, the long-term benefits outweigh the initial expense. Solid gold retains its value and can be easily liquidated in times of financial need. Additionally, gold’s price typically appreciates over time, making it a stable asset. For individuals looking for both style and security, solid gold jewellery provides the best of both worlds. The potential to use it for gold loans or resale makes it a sound financial decision.
Different types of solid gold
There are various types of solid gold used in jewellery, including 24K, 22K, 18K, and 14K. 24K gold is the purest but is soft and less durable, making it suitable for investment purposes rather than regular wear. 22K gold is commonly used in Indian jewellery for its high gold content and durability. 18K gold balances purity with strength, ideal for intricate designs and daily wear. Finally, 14K gold, with its higher percentage of alloy, is the most durable, perfect for jewellery that endures frequent use. Each type of solid gold offers distinct benefits, and the choice depends on the intended purpose.
Where to buy quality solid gold jewellery?
Quality solid gold jewellery can be purchased from certified jewellers across India. Look for jewellers who offer BIS-hallmarked gold, ensuring the jewellery’s authenticity and purity. Renowned brands like Tanishq, Kalyan Jewellers, and Malabar Gold provide a range of solid gold jewellery with certification. You can also explore local trusted jewellers who have been in the business for generations. When purchasing online, ensure the platform is reputable and provides proper certification and return policies. Always opt for jewellers who offer transparent pricing and a detailed breakdown of gold’s weight and making charges.
Using solid gold jewellery as collateral for gold loans
Solid gold jewellery is often used as collateral to secure gold loans in India. Lenders offer loans based on the value of the gold, which is assessed according to its weight and purity. The higher the gold content (like 22K or 24K), the more valuable the jewellery is as collateral. Gold loans are a popular financial tool, especially during emergencies, as they offer quick access to funds. Borrowers can retain ownership of their gold while obtaining a loan, with the option to repay the amount within a flexible timeframe. Using solid gold jewellery for loans is a smart financial strategy.
How to get a gold loan against solid gold jewellery?
Applying for a gold loan in India is a simple and straightforward process. Borrowers need to visit the nearest branch gold loan with their gold and required documents. Bajaj Finance will evaluate the gold based on its purity and prevailing gold rate to determine the loan amount. After the valuation, basic KYC verification is done, and once approved, the borrower receives the loan amount.
By following the steps below and understanding the benefits and requirements, you can efficiently secure a gold loan in India to meet your financial needs.
- Click on ‘APPLY’ to open our online application form.
- Enter your 10-digit mobile number and click on ‘GET OTP.’
- Submit the OTP to verify your identity.
- Select your state and city to find the branch nearest to you.
- Enter your full name and date of birth as per your PAN.
- Set up your appointment at our branch.
Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.
This convenience and efficiency make gold loans an accessible financial product in India.
Gold loan eligibility criteria for solid gold jewellery
The eligibility criteria for gold loans in Moradabad are straightforward, making this form of financing easily accessible. You just have to be between 21 to 70 years of age and own 18-22 karat worth of gold jewellery to pledge as collateral. There are no specific restrictions based on employment status, so salaried individuals, business owners, and even self-employed persons can apply. Since the gold serves as security, lenders do not place a heavy emphasis on the borrower’s credit score or income level. This simplicity makes gold loans a viable option for people from various economic backgrounds in Moradabad, particularly those who may not qualify for other types of loans.
