Gold Loan

The loans of various kinds are available in today’s scenario. The loans like home loan, car loan, education loan, personal loan and many such loans are quite famous. The loans are either offered based on your credibility but if you don’t have considerable financial background then you can avail the loan by pledging something. There are many things like equities, bonds, land, house and even gold that can be pledged for loan. The gold loan is the loan that you can avail by pledging your jewellery. The gold loan is easiest to avail and the processing time is also very less. You may get the gold loan on the same day. The interest rate is also low. In case of gold loan, you can pay the interest portion only for the entire loan term. At the end of the loan term, the borrower can pay the entire loan amount and get the jewellery back.

The instalment amount is less in case of gold loan as you have the option to pay the interest only. There are many non-banking finance companies (NBFCs) as well as the nationalised and public sector banks that offer gold loan. The gold loan is generally offered as the 50% to 60% of the market value of the jewellery. There are many banks that will offer the Gold Loan within one or two days of application. If the loan amount is offered at 50% of the market value of the jewellery then the rate of interest would be even lower. You can get the gold loan even in an hour’s time if you apply to the NBFC.  The loan amount would also be more but may be the interest you will pay would be more compared to other lenders.

We recommend that if you have some time then look for all available options. We will help you go through the offers from various banks and NBFCs. You can also apply for the Gold Loan online. We will help you get the best for your jewellery. You can opt for the e-application and we will direct your application to the concerned banks. If the bank would not accept the e-application then the application will be submitted to the bank by us. We will get you the best interest rate for your loan. The only thing you must know is that if you won’t be able to pay the gold loan on time then your gold jewellery will be sold in the market to recover the loan amount.