Getting a loan against a diamond ring in Johannesburg is a quick, easy and safe way to raise funds.
It can unlock the value of the ring, without requiring that you sell it. This means you don’t have to wait for a sale, or rush the process and settle for less than you should.
It also means you won’t have to part permanently with the ring. Once you’ve repaid the loan and interest, it will be returned to you.
How to get a loan against a diamond ring in Johannesburg
With LoanAgainst, you can get a short-term loan against a diamond ring in as little as 24 hours.
1) Give us some basic information about the ring
Start just by giving us information about the ring and its value.
It’s ideal if you’ve had the ring valued by an independent appraiser. To tell us about the ring, call us on 067 115 3453 or just complete our online application form.
The main factors that help determine the market value of a diamond ring are its weight; the purity of the gold or platinum setting; and the carat, cut, colour and clarity of the diamond.
2) Visit our branch
We’ll then make an initial loan offer over the phone, and arrange a visit to our Jo’burg branch. Here it can be expertly appraised.
We’ll then make a final loan offer against the diamond ring, confirmed in writing.
3) Complete an agreement and get your funds
If you’d like to proceed, you hand the ring over for safekeeping in a completely secure facility – and we’ll transfer the funds into your bank account.
What documents you need to get a loan
Please supply these documents to qualify for a loan:
- proof of ownership, preferably in the form of an invoice
- a copy of your ID document
- proof of address (for example, a municipal bill).
You may also choose to supply an independent valuation from a jeweller.
It’s important to note that there are different types of jewellery valuations, and these can differ significantly. However, a valuation can provide useful information that helps speed up the loan process.
Why get a loan rather than sell a diamond ring?
Getting a loan against a diamond ring in Johannesburg has two key advantages.
Fast access to funds
When you use a diamond ring as collateral for a short-term loan, the lending process can be completed in a day.
By contrast, it’s not easy to sell a diamond ring.
This process takes time. Given the high incidence of crime in our country, it could also put your security at risk.
The second-hand jewellery market in South Africa is over-traded and the country’s economic woes aren’t helping. It can take months to find a buyer and even longer for the funds to show up in your account.
You may also be forced to accept a value much lower than you expect to conclude a sale.
Retention of the asset
A diamond ring is a high-value asset.
If you sell it, it’s gone for good.
If you retain ownership of the ring, however, you can use it to secure funding when required. It can serve as a safety net. It can also stay in the family as part of your legacy.
Getting a loan from LoanAgainst
We are a trusted lender with branches in Cape Town, Durban, Johannesburg and Gqeberha (Port Elizabeth).
With LoanAgainst, you’re assured of:
- a fast, transparent lending process
- complete confidentiality
- competitive interest rates
- no hidden fees or early settlement penalties.
For more information about getting a loan against a diamond ring in Johannesburg (or in Cape Town, Durban or Gqeberha), contact us – or simply complete and submit our online application form.
