Gold has always been an asset that supports you in a commendable way at the time of need. If you have the jewellery or raw form of this valuable metal you can borrow sufficient money by mortgaging it to the money lender. The amount can be used for any purpose be it for marriages, purchase of property, investment in the business, construction of the home, education or to fulfil any other desired necessity.
“Gold Loan in India” is provided by various government and private banks or money lenders, you can choose the option as per your convenience. Each organisation or company has their own terms and conditions to serve you with the loan.
To know more about the Gold Loan and its benefits, look into the blog below.
Advantages of opting your jewellery to borrow money:
● You can apply for the process both online and offline. If applying online from a private source, make sure you have researched well and do not just get fooled by some fake agency.
● You can borrow the amount that is as high as 50 lakhs. It can be any amount varying between 1 lakh to half a crore as per your requirement.
● You do not have to pay any EMI, in most of the cases. You just need to pay the interest.
● The interest rate is very low. It can be somewhere between 8 to 11% depending on the company you choose.
● To get the amount, the basic requirement is that your asset or ornaments must be approved for the quality and it should be minimum 20 carats or above.
● You require minimum documents to apply for this kind of loan.
● The applicant must be an adult. As per the Indian rules and regulations minimum 18 years of age.
● This loan is highly safe and secure. Along with the money, you also get the security of your assets. Your property is in safe hands and is looked after. Once you repay the amount you can take it back.
● There is no hard and fast rules or eligibility criteria to get the money for your gold. It can be taken by anyone. You don’t even need to show your regular income. There is no minimum income required to apply for this kind of loan.
● Once you apply for the borrowing of money from the public and private institutions by whatever means that is online or offline you can get the amount I’m your hand before 72 hours. You don’t have to wait much.
Bottom Line:
Whether you are a student, businessman, homemaker or professional everyone can get their Gold loan approved. What are you waiting for? If you have your ornaments and jewellery locked in your locker and you are in urgent need of money approach your nearest banks today and get your requirement fulfilled at the earliest. Make sure you take all the information about the interest rates, privacy policies and terms and conditions before undergoing any documentation process.