Want to buy gold jewellery for a wedding, festival, or investment but don't want to spend all your savings at once? Galaxy Multistate Co-operative Society, Phaltan offers a Gold Purchase Loan — buy gold today, repay in easy installments.
A Gold Purchase Loan is different from a Gold Loan. Instead of pledging existing gold to get cash, you borrow money specifically to buy new gold jewellery.
This is ideal for families in Phaltan and around planning a wedding, individuals who want to invest in gold, or anyone who wants to take advantage of current gold prices without depleting their savings. Repay in comfortable monthly installments.
| Purpose | To purchase new gold jewellery |
|---|---|
| Interest Rate | 14% Interest rate |
| Repayment | Easy monthly installments (EMI) |
| Loan Amount | Confirm maximum amount with branch |
| Collateral | Purchased gold serves as collateral |
| Documentation | KYC documents — Aadhaar, PAN, photograph |
Visit Galaxy Multistate Co-operative Society, Phaltan branch.
Decide the gold you wish to purchase and its estimated value.
Submit Aadhaar card, PAN card, and 1 passport-size photograph.
Loan approved — buy your gold from a registered jeweller.
Repay in easy monthly installments as agreed.
The Gold Purchase Loan works differently from a regular Gold Loan; instead of pledging gold you already own, this loan provides funds specifically to buy new gold jewellery, with the purchased gold itself serving as collateral. For families across Phaltan, Lonand, Dahivadi, and the Akluj corridor planning a wedding, festival purchase, or gold investment, this allows buying at current market rates without withdrawing from existing savings or breaking a fixed deposit early.
Repayment is structured as easy monthly installments rather than a lump-sum settlement, making it manageable for households planning gold purchases around a specific occasion. Members typically choose this loan when gold prices are favourable, and they want to act on that timing without disrupting other financial plans already in place, such as an ongoing Recurring Deposit or Fixed Deposit.
Members can discuss their intended purchase amount and desired EMI structure directly with the Phaltan branch team, who will confirm the applicable loan amount and repayment terms based on current rates.