WELFARE FIRM
Welfare group started the journey in 1941 under the British Rule with the name ‘Welfare Bank’ for advancing on gold. Later on, after the independence, we carried on the gold loan business under the Kerala Money Lending Act of 1958. In 2003 all our offices were computerized for speed and accuracy. With offices at Triprayar, Chalakudy South and Chalakudy North, Welfare Firm is now a prominent name in the field of Gold Loan and Money Transfer.
Trusted by over 15,000+ valued customers, Welfare Firm provides hassle-free, instant Gold loans at lowest interest rates. Our expertise and years of service make us the trustworthy institution where you can pledge your valuable gold ornaments without fear.
| Scheme | Rate of Interest | Loan-To-Value per Gram | Loan Tenure |
|---|---|---|---|
| T-Scheme* | 15 % | 77% of gold value | 1 year |
| O-Scheme | 18 % | 80% of gold value | 1 year |
*In T-scheme, interests has to be cleared within every 30 days to avail the 15% interest rate. Failure to clear the interest in every 30 days will result in an increase in the interest rate.
- Interest is calculated only for the exact period of loan and to the exact number of days. If the loan is closed on the same day, we charge the interest only for that one day.
- You can avail gold loan up to any amount. You can receive your loan amount within 5 minutes.
- Processing charge upto 2% applicable on all gold loans as per Govt. Rules.
- In T-scheme, customers have to clear the interests in every 30 days to avail the scheme benefits.
- Gold ornaments accepted as pledge by the customers are stored at the branches in strong cash safes inside a strong room built to the standards and specifications applicable to commercial banks. All the pledged gold ornaments are insured for full value.
- Electronic surveillance technologies are deployed in all our offices for the safety of the pledged gold ornaments.
- Customers are requested to produce their original ID proof (anyone of: Voter ID / Aadhaar Card / Driving License / Passport) and have to submit the self attested copy when they approach us. For the security purposes, all the customers will be photographed during their first transaction.
Welfare Firm branches at Triprayar, Chalakudy South and Chalakudy North are authorized agents for international money transfer services. We stepped in to international money transfer services in the year 2005 so that our customers can receive money from anywhere in the world within minutes through our branches. We are authorized agents for Western Union, Money Gram, X press Money, Trans-Fast and Ria Money.
- Fastest Money Transfer facility certified by the Reserve Bank of India. The receiver does not have to pay any service charge.
- For our customer’s convenience, we will take care of all the documentation work without any charge.
- No bank account needed for receiving amounts up to Rupees 50,000/-. According to the RBI rule, we can only give account payee check for receiving amounts above 50,000/-
- You can receive a maximum amount equivalent to $2500 (US Dollars) in a single transaction and you can receive money up to 30 times in calendar year.
- Customers are requested to bring their original ID proof (anyone of: Voter ID / Driving License / Aadhaar Card / Passport / PAN card) and have to submit the self-attested copy when they approach us. If you are submitting your PAN card as the ID proof, then you have to submit a separate address proof (any of the government approved address proof. Like: Ration card, Telephone bill etc.)
- For the security purposes, all the customers will be photographed during their first transaction. Customers are requested to bring their customer card (issued by our office during your first transaction) for a speedy transaction.
- Our Domestic money transfer services with XPAY enable you to make hassle-free transactions domestically. Customers can send money to other bank accounts directly from our offices in a secure manner.
- Customers who do not have any bank accounts can make use of the domestic money transfer that we offer to send payments to other bank accounts.