Gold loan is basically the most affordable and convenient credit facility provided by banks. You can use such kind of loan in order to fulfil any type of financial emergencies. It assists money lending companies to trust borrowers and provide a credit against jewellery.
There are various types of loan facilities available today for individuals today. Among all these, property / home loan , personal loan, business loan, car are most popular. And apart from all these credits, you can get advance against any precious ornament or metal especially gold. Banks and other financial institutions offers against gold because many of the people own gold in the form of jewellery. Gold ornaments are basically considered as the secured asset for providing an advance on. It is the most convenient credit among all. You can get the desired loan amount just by submitting your ornaments. This type will surely assist you in several ways.
Usually, taking ornament loan from lenders or banks will provide you instant money for most of the prompt expenses including- vehicle purchase, quick family holiday, medical emergency and many more. Here is the entire list of top 10 advantages of taking such type of loan from financial institutions are as follows-
● Immediate processing and disbursement
● Individuals can borrow a certain amount of money in thousands or lakhs. In this type , individuals are just required to provide ornaments as a collateral or security to the bank or financial institutions.
● The bank or money lending companies typically provide triple layered collateral for the ornaments or metal ornament lodge by the individuals as a security. The ornaments will be kept safe in the bank and when the individuals reimburse the complete credit amount with interest then the submitted ornaments will be given back.
● Individuals are free to use the credit amount for any purpose like- for investment, education, business requirements, medical purpose and marriage expense etc.
● This does not depend on your credit score but on the value of your ornament.
● The is normally availed to everyone ( salaried, business persons and even a homemaker can apply for this credit).
● Financial institutions or money lending companies charge lowest interest rates on this type of credit as compared to unsecured credit types.
Eligibility requirements-
Normally, eligibility criteria for taking advance very from one financial institution to another. But here is the list of some basic requirements which every bank ask for-
● Age of applicant should be above 18 years.
● Age proof- it can be a birth certificate, PAN card or voter ID.
“Loan Against Gold” can be availed easily fulfilling the eligibility requirements thoroughly and submitting all the necessary documents. Credit calculators are also provided to the individuals so that they can check how much amount they can get easily against ornaments or jewellery. If you want ap to pay for this, visit any reliable bank and avail loan against jewellery for yourself.