. Frequently Asked Questions - Diamond Banc

Frequently Asked Questions

What kind of assets does Diamond Banc accept as collateral for a loan?

Diamond Banc accepts several types of personal assets as collateral for a loan; including, Diamonds, Fine Jewelry, Luxury Watches, Gold & Precious Metals.

Have something else to offer? Diamond Banc is open-minded and entrepreneurial. We have provided loans on other types of assets as well, ranging from rare coins to high-end designer handbags. Contact us with the details of your item and we will do everything we can to assist you.

How do you determine the value of my item?

Our typical LTV (loan-to-value) ratio is 65% – 75% of the estimated liquid wholesale value of your asset. For example, say you purchased a diamond from a competitively priced retail store for $6,000. The wholesale value would likely be somewhere in the area of $4,500. We would then loan 75% of that value, meaning your loan amount would be approximately $3,375.

Does Diamond Banc conduct credit checks?

Diamond Banc does not conduct credit checks or employment verification on loans under $30,000. For loans $30,000 and greater, a simple background and credit check to ensure no pending insolvency. Diamond Banc does not report to any credit agencies and our loans are 100% private. In the event the borrower elects not to repay their loan, there is no negative recourse to the borrower outside of surrendering ownership of the pledged collateral.

Where will my assets be stored?

All assets are stored on-site in one of our state-of-the-art, alarm-protected, 24-hour security monitored, fireproof vaults. Your items are also fully insured for their full replacement value while in our custody.

What will the monthly payment be on my loan?

Your minimum monthly loan payment will consist of interest, security, storage, and insurance fees. This amount will depend on the total amount borrowed as well as the type and value of the asset used as collateral, with rates as low as 2.5%.

Is there a minimum or maximum loan period?

Diamond Banc offers 30-day loans that can be extended for as many 30 day periods as the client needs. There is no minimum loan period, as our loans can be paid off in full at any time without penalty. What sets us apart from many of our competitors is the option to pay the loan down in increments as opposed to one lump sum payment. Any amount paid each month above the “monthly rate” will go towards reducing the principal balance therefore reducing your minimum monthly payment. This means our clients can take as little or as long as they need to repay the loan. You have the freedom to structure your monthly payments in any way that best fits your needs and financial situation.