A diamond ring has more than emotional worth. It’s a high-value asset that can be used to secure short-term funding.
LoanAgainst offers instant cash loans backed by gold and diamond jewelry, and other personal assets of value.
Appraisals are conducted at our Durban branch, and funds are available within 24 hours.
Loan against a diamond ring: how it works
The asset-based lending process is straightforward. The owner of the asset, such as a diamond ring, tenders the asset as security for a loan.
The ring is physically assessed to determine its resale value. An offer of a loan is made based on this assessment.
If the applicant wishes to proceed, an agreement is drawn up and signed.
The ring is handed over for safekeeping, and the borrowed funds are deposited into the applicant’s bank account.
The loan, plus the accrued interest, is repaid according to the terms set out in the agreement. At the end of the term, the diamond ring is available for collection.
When to consider a loan against a diamond ring
Getting a loan against a diamond ring is a quick and efficient means of raising funds to cover a short-term need.
When the unexpected happens – whether in the form of an emergency or a potentially lucrative opportunity – fast access to funds can make all the difference.
There are no restrictions on how the borrowed funds can be used.
Unlike bank loans that require reams of paperwork, a stable income and solid financial track record, asset-based loans are based purely on the value of an asset you supply as security.
The applicant’s employment status and credit record are irrelevant.
How much can you borrow against a diamond ring?
The amount you can borrow against a diamond ring is solely dependent upon its appraised resale value.
The more valuable an asset, the more money there is available against that asset.
LoanAgainst has processed loans of up to R200,000 and more.
What’s involved: getting a loan from LoanAgainst
LoanAgainst offers an easy online loan application process.
All that is required is the applicant’s personal details and an independent valuation and a short history of the diamond ring.
An indicative offer of a loan is conveyed, either by email or over the phone, based on that information.
An appointment is set up at the Durban office, where the ring’s value is assessed. If the findings corroborate the independent valuation, a formal offer is made on the spot.
The paperwork is completed, and the diamond ring is insured and securely stored until such time the loan is repaid in full.
The borrowed funds are transferred into the applicant’s bank account…typically on the same day.
Why use LoanAgainst Durban?
- Quick, easy and convenient
- Competitive interest rates
- Transparent fee structure
- No hidden costs or early settlement penalties
- 100% discreet, with no impact on credit rating
Where to get a loan against a diamond ring in Durban
LoanAgainst makes it quick and easy to get a loan against a diamond ring in Durban. We’re an established and registered financial services provider with NCR-compliant interest rates.
For more information about how to get a loan, contact us on 27 10 745 7061 or simply submit our online application form.
