Loan Against Security

When stuck with a financial dilemma we often consider applying for a personal loan. But a personal loan can add on to your financial distress due to a higher rate of interest. Opting for gold loan may prove to be an affordable option in such a situation.

What is gold loan?
A system where you can get a loan by pledging your gold. Gold loans are mainly provided by banks or NBFC’s wherein the purity of the golf should be 18-24 carats.

Why avail a gold loan?

Low interest rate: in case of a gold loan, the physical gold can be kept as the collateral. This means you can avail lower interest rate. Also, the loan processing takes lesser time.
No credit history : For collateral matters as the banks do not ask for employment status, income proof or check credit history for sanctioning gold loan.

High Margin: The lender provides up to 75% of the value of gold, pledged for the loan.

Easy repayment: You can pay only the interest amount during the loan tenure. The principal can be paid in a lumpsum at the end of the tenure.

Key features of gold loan:

1.Physical gold ornaments and gold bullion are accepted by banks and NBFCs as collateral assets.

2.The loans are quickly processed and the loan gets sanctioned within an hour.

3.It comes with a highly flexible tenure which is fixed depending on the loan amount sanctioned.

4.The interest rate of gold loans ranges from 10.5%-16% along with processing fee of 2%.

Loan Against Security

Loan Against Security

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