If your gold is pledged with a bank, an NBFC or a private lender, here is how the release works — and what you can do if you do not have the money to close the loan.
Step 1: Find out the closure amount
Ask the lender for the total amount to close the loan today: the principal, the interest up to today, and any charges. Interest keeps adding up daily, so ask for the figure on the day you plan to pay.
Step 2: Keep these ready
- The pledge receipt / loan card with the loan number
- Photo ID (Aadhaar or PAN) of the borrower
- The borrower should usually be present in person
Step 3: Pay and collect your gold
Pay the closure amount. The lender returns your ornaments — check every piece against the list on the pledge receipt before you leave, and take a closure receipt.
If you cannot pay the closure amount
Many families keep paying interest for months because they cannot put together the full amount at once. Meanwhile the interest grows, and in the worst case the gold is auctioned.
A pledge release service can help:
- You share the loan details and the closure amount.
- The service pays the lender directly and the gold is released.
- The released gold is weighed and tested in front of you.
- If you choose to sell it, you receive the balance — the value of the gold minus the amount paid to the lender.
This turns locked-up gold into money, without an auction.
At VRGOLD, Kadapa
We release gold pledged with banks, NBFCs and private lenders, and pay the balance straight to your bank account. Estimate it with the pledge release calculator, read how it works on Release Pledged Gold, or call us to discuss your loan.