Auto Wave offers gold backed loans for individuals who need quick financial support without selling their gold. By pledging physical gold as security, customers can receive short term financing while retaining ownership of their assets. The process is transparent, secure, and supported by private investors through Auto Wave’s third party facilitation model.

Who Can Apply

To apply for a gold backed loan with Auto Wave, customers must meet the following basic requirements:

• Valid government issued identification (CNIC)

• Physical gold such as jewelry, coins, or bars

• Gold must be free from any legal dispute or claim

• No guarantor required, the gold itself is the security

Loan Amount and Value

The loan amount is calculated based on the current market value of the pledged gold.

• Financing available up to 70% of the gold’s market value

• Final amount depends on purity, weight, and gold type

• Market rates are applied at the time of evaluation

Gold Appraisal Process

All pledged gold is examined by certified valuers appointed by Auto Wave.

• Valuation based on purity, weight, quality, and market price

• Verification and appraisal completed within 72 hours

• Appraisal charges are non refundable

• Customer is informed of the final eligible loan amount before disbursement

Loan Duration and Charges

Auto Wave provides short term gold loans designed for urgent needs.

• Loan tenure ranges from 6 to 12 months

• Interest rate is discussed clearly before approval

• Rates depend on market conditions and applicant profile

Repayment Terms

Customers are required to repay the loan amount along with agreed interest within the selected term.

• Full repayment is required on or before the due date

• Late payments may result in additional charges

• If repayment is delayed beyond 30 days, Auto Wave may liquidate the pledged gold to recover dues

Safety and Storage of Gold

Customer gold is handled with strict care and security throughout the loan period.

• Gold is stored in a secure and insured facility

• Customers cannot access or alter the pledged gold during the loan term

• Once the loan is cleared, gold is returned without deductions

Early Repayment Option

Auto Wave allows early repayment to support customer convenience.

• No prepayment penalty

• Early repayment reduces total interest

• Gold is released immediately after settlement

Default Policy

In case of non payment, Auto Wave reserves the right to sell the pledged gold.

• Sale proceeds are used to recover outstanding dues

• Any remaining balance after liquidation remains payable by the customer

Loan Cancellation

• Loan can be canceled without penalty before gold is submitted

• Cancellation is not possible after loan disbursement

Legal Agreement

By availing a gold backed loan from Auto Wave, the customer agrees to all stated terms and conditions. Any breach may result in immediate recovery action as per the signed agreement.

Gold Loan FAQs – Auto Wave

Q1: What is a gold backed loan?

A gold backed loan is a short-term financing solution where customers pledge their physical gold (jewelry, coins, or bars) as security to receive a loan without selling the gold.

Q2: Who can apply for a gold backed loan?

Any individual with valid CNIC and physical gold free from legal disputes can apply. No guarantor is required, as the gold itself serves as collateral.

Q3: How much loan amount can I receive?

You can receive financing up to 70% of the gold’s market value. The final amount depends on gold purity, weight, and type.

Q4: How is the gold valued?

Gold is appraised by certified valuers appointed by Auto Wave based on purity, weight, quality, and current market price.

Q5: How long does the appraisal process take?

Verification and appraisal are completed within 72 hours. Customers are informed of the final eligible loan amount before disbursement.

Q6: Are appraisal charges refundable?

No, appraisal charges are non-refundable.

Q7: What is the loan tenure?

Loan tenure ranges from 6 to 12 months, depending on customer preference and approval.

Q8: What are the interest rates?

Interest rates are discussed clearly before approval and depend on market conditions and the applicant’s profile.

Q9: Can I repay the loan early?

Yes. Auto Wave allows early repayment with no prepayment penalty, and the gold is released immediately after settlement.

Q10: What happens if I delay repayment?

Late payments may incur additional charges. If repayment is delayed beyond 30 days, Auto Wave may liquidate the pledged gold to recover dues.

Q11: Is my gold safe during the loan period?

Yes. Gold is stored in a secure and insured facility and cannot be accessed or altered during the loan term. After full repayment, gold is returned without deductions.

Q12: Can I cancel the loan after approval?

The loan can be canceled without penalty before the gold is submitted. Cancellation is not possible after the loan has been disbursed.

Q13: What happens if the gold is sold?

In case of non-payment, Auto Wave reserves the right to sell the pledged gold. Sale proceeds will be used to recover outstanding dues, and any remaining balance will still be payable by the customer.