Getting a Loan Against a Diamond Ring in Gaborone

loan against a diamond ring

A loan against a diamond ring is a quick, easy and safe way to raise capital. It unlocks the ring’s value without having to sell it.

How to get a loan against a diamond ring in Gaborone

At lamna Botswana, you can get a short-term loan against a diamond ring within 24 hours.

We require as much information about the diamond ring as possible. You can supply this information via our online loan application form or over the telephone.

Once the details have been assessed, an initial loan offer is made over the phone. The ring is brought to our Gaborone branch, where it is expertly appraised.

Based on the outcome of the appraisal, a firm loan offer against the diamond ring is confirmed in writing.

The ring is handed over for safekeeping and returned once the loan is paid back in full. The funds are transferred into your bank account.

What you’ll need to get a loan against a diamond ring

You will need to supply these documents to be eligible for a loan:

  • proof of ownership, preferably in the form of an invoice
  • a copy of your Omang
  • proof of address.

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. These can differ significantly. Nonetheless, a valuation can provide useful information that may speed up the loan process.

Why get a loan rather than sell a diamond ring?

Getting a loan against a diamond ring has two key advantages.

Quick access to capital

When you use a diamond ring as collateral for a loan, the lending process can be wrapped up in a day. Selling a diamond ring is neither quick nor easy. It’s also fraught with security concerns.

The second-hand jewellery market is over-traded and the current economic conditions in Botswana are exacerbating the situation. It can take months to find a buyer and even longer for the cash to show up in your account.

Asset retention

A diamond ring is a high-value asset that can be used to secure funding when required. When an asset is sold, it has gone for good. It’s unlikely the selling price is anywhere near expectations.

Getting a loan against a diamond ring is a smart way of releasing its value. In difficult financial times, it can act as a safety net and remain in the family as part of your legacy.

What determines the value of a diamond ring (and the loan you can get)?

Appraisal experts use a number of factors to determine the value of a diamond ring:

  • the weight
  • purity of the gold or platinum setting
  • the carat, colour, clarity and cut of the diamond.

The heavier the ring and the higher the purity of the precious metal, the greater the value. Purity can usually be identified by a hallmark stamped on the inside of the band.

The diamond’s weight is important. So, too, are the number of flaws or blemishes in the diamond, its colour and how it has been cut to refract the light.

When these factors are weighed up, a fair value can be attributed to the ring. This informs us of the amount of money we can lend against a particular diamond ring.

Loans against diamond rings from lamna Botswana

When you secure a loan from lamna Botswana, you are assured of:

  • a quick and discreet lending process
  • complete confidentiality
  • competitive interest rates
  • no hidden fees or early settlement penalties
  • no credit checks, bank statements or proof of employment.

What our customers have to say

Here’s what a few of our satisfied customers have said about our short-term financing service.

“Thank you so much for assisting at such short notice and handling this transaction so professionally.”

“Your turnaround speed was unbelievable. I’ll definitely be using you in the future.”

“The service you offer is unbelievable. Finally, a company that understands our cash requirements.”

How lamna Botswana can help with a short-term loan

At lamna Botswana, as well as a loan against a diamond ring, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches to vehicles or valuable works of art.

For more information about using an asset to secure a short-term loan, contact us on 71 388 088 or simply complete and submit our online application form.

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