Gold Loan (Buy Back)

13 questions answered. All FAQ topics

Gold Loan (Buy Back)

Do you offer a buy-back service similar to a short-term gold-backed facility?

Yes. Gold Factory offers Gold Loan (Buy Back) as an alternative to selling qualifying gold permanently. The available amount is based on 75% of the applicable Gold Factory gold buying value, with a 30-day term and a 5% charge rate.

Is the buy-back service the same as ordinary gold selling?

No. Sell Your Gold is an outright sale. Gold Loan (Buy Back) is a separate 30-day buy-back option with its own terms, available amount and charge.

How long is the buy-back period?

The current Gold Loan (Buy Back) term is 30 days. The applicable start date, expiry date and full transaction terms are confirmed when the Buy Back arrangement is entered into.

How much does an extension cost?

Any extension is subject to Gold Factory confirmation and is not guaranteed. If an extension is available, the applicable charge and revised date are confirmed before it is agreed.

What percentage of the Gold Factory buying value is shown for Gold Loan (Buy Back)?

Gold Loan (Buy Back) shows 75% of the applicable Gold Factory buying value as the available Buy Back amount.

Can you give a Gold Loan (Buy Back) example based on a �10,000 buying value?

Yes. If the applicable Gold Factory buying value is �10,000, the available Buy Back amount at 75% is �7,500. The 5% charge and the total amount required to buy the item back are shown and confirmed before you proceed.

What is the Gold Loan (Buy Back) charge rate?

The Gold Loan (Buy Back) charge rate is 5%. The exact monetary charge and the total amount required to buy the item back are shown and confirmed before you proceed.

Can I use Gold Loan (Buy Back) by post?

Yes. Gold Loan (Buy Back) is available by post as well as in store.

Can I use Gold Loan (Buy Back) in store?

Yes. Customers can discuss the Gold Loan (Buy Back) option in the Gold Factory shop where their items are eligible.

Can I switch from Sell Gold to Gold Loan (Buy Back) without entering my items again?

Yes. Your existing item information is carried across when you switch from Sell Your Gold to Gold Loan (Buy Back).

Can I switch from Gold Loan (Buy Back) to Sell Gold?

Yes. You can switch to the outright Sell Your Gold route without re-entering the relevant item information.

When is a Gold Loan (Buy Back) payout made?

The applicable payout timing is confirmed as part of the Gold Loan (Buy Back) transaction. The separate Sell Your Gold payment rule of payment within 24 hours of receipt does not automatically apply to Gold Loan (Buy Back).

Can Gold Loan (Buy Back) be extended beyond 30 days?

Any extension is subject to Gold Factory confirmation and is not guaranteed. Where an extension is available, the revised date and applicable charge are confirmed before the extension is agreed.