There are few times when certain financial urgencies require immediate funding. However, borrowing from your relatives and friends can be a good option but sometimes it can strain your relationships and bonding. There might be few consequences of borrowing from the family such as your reputation can be on risk, vague terms in borrowing, and inability to repay as well as upset relationships.

So, what could be the alternative to it? When you face a financial crisis, you can face the above mentioned repercussions of borrowing from family and friends; therefore it’s always better to look for formal lending and financial institutions. One such alternative solution is gold loan. It is a secured loan, so it is available at lowest possible interest rate. You can “Apply For Gold Loan“ with ShubhBank at your doorstep.

In this blog post, we will guide you through some benefits of availing a loan against gold from ShubhBank rather than borrowing from your relatives. Let’s read out some of them:

● Affordable rate of interest: In India, the rate of interest on gold loan starts from just 0.85% per month with zero processing fees. To illustrate, for every Rs. 100 borrowed, one just need to pay back Rs. 100.85 at the end of month. Isn’t it sounds great because no loan can be borrowed at such affordable rate of interest to meet your personal and business needs?

● Entire process at your doorstep: Nowadays, gold loan application can be made from your doorstep through online lending portals. ShubhBank has its own website where you can apply for loan online from your personal space. A loan executive will come to your doorstep to process your gold loan application and the loan will be disbursed within few minutes. The time when you repay the whole loan amount, your gold will be delivered to your place.

● Safety: When the loan quantum is disbursed in your account, your gold ornaments is packed in packets and stored in safe lockers in bank. After repayment, ShubhBank will deliver your gold safely to your location within 1-2 business days. Our institution holds the full responsibility of your gold, when our loan executive steps out of your doorstep after loan disbursal.

The one thing to keep in mind is that while borrowing against gold, your gold asset is at stake in case of default where as in case of borrowing from your relatives and friends, your relation and reputation will be on stake. Therefore, keep your family and friends as a last option and it is always preferable to meet your financial crunch independently through lending institution.

In recent times, when such easy financial options are available in the lending market, instead of putting your relation at stake “Apply For Gold Loan Online“ or offline because it a best ever option out there. If you are in financial crunch, visit or click on our website ShubhBank.com to avail gold loan. You will find out great loan features with easy eligibility criteria as well as flexible repayment options on loan against gold.

Nowadays, gold loan has become immensely popular as it offers various ways to repay the loan as compared to other secured loans. Most of the people take gold as investment, not only as ornament. One can pledge his/her gold ornaments as collateral with the lender who offers loan amount against provided gold jewelry to fulfill their personal or business needs.

Therefore, you can “Apply For Gold Loan“ to get rid of any financial problem and contingency. It is one of the easiest ways to raise the funds for various needs such as medical emergencies, travel purposes, business deals and many more. The other reasons individuals avail gold loan at lowest possible interest rates and also have an option of flexible repayment structure.

A gold loan can be repaid in various ways unlike other secured loans. In this article, we have listed some of the super easy ways to repay the gold loan. Let’s read about those ways:

● Periodic EMIs: Most of the borrowers prefer this method where they have to pay the loan money from the month following the month of disbursal. It is a convenient option for salaried individuals who have regular flow of cash. The EMI comprises both the principal amount as well as interest charges. It is an easy repayment process as it deducts from your bank account monthly.

You can also opt auto debit method where the EMIs are automatically debited from your account on a fixed date for easy repayment. This way also helps you out to reduce the liability of interest rate as the loan tenure progresses ahead.

● Periodic Interest: It is one of the most common ways to repay the gold loan where interest rate and principal amount are kept separate from each other. One only has to pay the interest amount in form of EMIs and principal amount is paid at the end of loan tenure. It is best option for borrowers who want to keep their installment smaller or don’t have stable monthly income.

● Bullet repayment: This repayment method makes you to repay the interest and principal amount at the end of gold loan term. During the repayment period, neither you have to pay the interest nor the principal money. One has to repay the entire amount at the end of gold loan that is known as bullet repayment as you repay the whole amount at once at the end.

● Partial repayment: It is another method to repay a loan against gold where you can make the partial payments of interest as well as principal according to your needs and cash availability. You don’t have to pay the EMI every month as you can make the payments wholly or partially comprises of both interest and principle quantum.

Hence, one can witness various options for the repayment of gold loan but ask the lender about the flexibility of repayment before they “Apply For Gold Loan Online“ or offline to avoid any debt burden or default. For more information on gold loan, visit ShubhBank for rescue in case of financial emergency.

Nowadays, individuals looking for required funding have a lot of options offered by the lending sector and the best option among all credit solutions are Gold Loan especially for the loan seekers who have low credit score. There are number of people who suffer financial crunch and “Apply For Gold Loan“ as it has speedy disbursement and flexible repayment structure.

A loan against gold is a secured loan that demands you to keep your gold ornaments and jewelry as collateral to the lender to access desired funds. It proves to be viable choice for low credit borrowers with short term cash needs.

The loan money can be used to fund any financial crunch and it is convenient because of its characteristics which are mentioned below:

High loan quantum: As compared to other secured and unsecured loan solutions, gold loan has a higher loan amount cap. The loan money directly based upon the quantity and purity of the gold that you are going to pledge with specific lender. This loan is the good option if someone requires a more considerable borrowing. One will get the 70-80% of the gold value as a loan amount.

No need of credit history: In case of gold loan, one needs not to be concerned about their credit history because lenders never consider your credit report while approving your loan application. The best thing about gold loan is that you are not obliged to disclose any existing loan before applying for loan against gold ornaments.

Low rate of interest: The gold loan has a lower rate of interest as compared to other secured loans such as Home Loan, Loan against Property and Machinery Loan etc.; therefore loan against gold is less expensive than other types of secured loan solutions. It means you will be required to repay the loan money with less money from your monthly budget without burning a hole in your pocket.

Flexible repayment structure: This is the best feature of gold loan because unlike other loans, gold loan can be availed with various loan repayment options. There are basically three types of repayment choices such as regular EMIs, you can pay only interest during the loan tenure and principal amount at the end or you can pay the interest as well as principal amount after the tenure with no repayments made in meantime.

Hence, it is an attractive option and one can “Apply For Gold Loan Online“ or offline by leveraging their possession to receive desired cash in an emergency situation. ShubhBank is one of the leading NBFCs across country that provides gold loan with lowest and effective rate of interest. We provide you the flexible repayment options from which you can choose the best suitable for you.

One needs to submit their basic details and gold ornaments to the lender to get immediate funds which they can use for their personal and professional needs. We are there to support our customers in the direction of growth and to provide all the loan services at their doorstep valuing their time and money.

Nowadays, gold proves to be a great asset to acquire funds in the times of cash crunch. Most of the lending institutions offer gold loan with flexibility in terms of repayment. One can choose to repay in part payments or EMIs, bullet payments depending upon your needs and budget. Before you “Apply For Gold Loan“ you must need to understand all the repayment schemes.

There are some repayment ways associated with gold loan that would prove to be a key for comfortable loan journey in a fixed tenure. Here, we have listed all those repayment methods in detail:

Equated monthly installments: EMIs or monthly installments are the most common method of paying back any type of loan. The repayment of loan against gold can also be done by opting for EMIs. If you have a regular income source then it is the most suitable method to repay a loan.

One can use an EMI calculator to calculate the exact amount of installment according to their monthly inflow of funds. The principal amount and interest rate payment as EMI would start right after the disbursal of loan money. Calculating your EMI prior to applying will help you in understanding of your loan cost and help you to manage your expenses.

Monthly interest payment: This method is similar to EMI method but with a little difference. In this case, you only have to pay the interest accrued on the loan quantum each month. You have to pay the entire principal amount at the end of the loan tenure. This method is suitable for the borrowers who have low income or do not have regular source of income.

Bullet payments: It is meant to be onetime payment where lender would charge monthly interest on the loan amount but the payment for both would be due at the end of the repayment period.

Bullet repayment would be a best method for short-term gold loans ranging between 6-12 months. However, it is a great option but one has to pay more money in form of interest rate at the end of loan tenure. As it is an expensive way to repay gold loan but suitable for those borrowers who cannot afford monthly installments and have an unstable source of income.

Partial payments: It is another popular way for gold loan repayment. A partial payment meant for making lump-sum payments for loan when you are able to do so. This is the great and easy method for individuals who are unable to pay monthly installments.

One can customize the amount to be repaid depending upon repayment capacity. It can save you a lot of bucks by making larger payments at the initial stage of loan tenure as it will reduce your interest burden.

Foreclosure: It stands for repaying the entire loan amount before the tenure ends. The repayments can also be made by making pre-closure payments. if you pay the full amount during your tenure, you can pay off your gold loan conveniently and take your pledged ornaments to your home instantly.

Therefore, before you “Apply For Gold Loan Online“ or offline, choose the best way of gold loan repayment and enjoy a hassle-free loan journey.

A gold loan is secured credit solution that borrowers can get by pledging gold jewelry as collateral. The disbursed amount against gold is a percentage of pledged ornament’s current market value. Nowadays, financial institutions can lend up to 75-80% of the value of gold as per RBI’s guidelines and a demand for gold loan has increased over decades so this trend doesn’t seem to finish soon.

There are several factors that are taken into consideration while deciding loan money in lieu of gold jewelry. When you “Apply For Gold Loan“ the granted LTV ratio depends upon the form of gold, its weight and purity, borrower’s repayment capability as well as loan tenure. The above listed factors must have helped establish an idea of the things that lender consider while deciding loan value. Let’s discuss all these parameters:

Loan-to-value ratio: This value is an assessment of lending risk conducted by any lending institution before approving any loan. It is a percentage of pledged asset’s value that a lender can lend to a potential borrower. Besides that, loan seekers can use online gold loan calculator to evaluate the loan quantum beforehand. Hence, it is good to know about various loan options and choose the most suitable one.

Purity of ornaments: The purity of provided gold assets as collateral crucially impacts the granted loan money. As all knows, quality of gold jewelry is measured in carats ranging from 18 to 24 in numbers. More will be the purity of pledged jewelry, more you will receive the funds against it.

Weight of gold assets: It is one of the major factors that every lender considers while approving a gold loan. However, your gold ornaments are studded with diamonds or any other precious stone, only the weight of gold will be a determining factor. An individual who pledge higher gold weight age can secure more funds. Basically, one has to pledge minimum of 10-15 grams of gold as security against gold loan.

Eligibility: Apart from these significant factors, the other parameter that determines your loan value is meeting the eligibility criteria specified by particular lender to get an affordable rate of interest. There is a basic criteria check for gold loan which is easy to meet such as borrower should be above 18 years of age and have a sufficient amount of gold. Therefore, gold loan is an ideal credit solution for borrowers as it has no stringent eligibility criteria.

Rate of interest: The interest rate is measured based upon the creditor’s risk assessment and may differ from one lender to other. Moreover, the loan quantum and loan tenure plays a significant role in determining applicable gold loan rate. When you “Apply For Gold Loan Online“ or offline, always go with prominent lending institutions such as ShubhBank. A loan seeker must do a proper lending market research before choosing a lender for you.

Sounds simple enough! So, if you have idle gold assets and you are dire need of cash, then just opt for gold loan to fulfill your financial requirements easily.

Nowadays, it is becoming tough to sustain and maintain the cost of livings because of ongoing pandemic along with a trail of economic downfall as well as devastation. However, financial crunches and emergencies can knock your door anytime but it’s up to you that how to cope up such situations? One can either “Apply For Gold Loan“ or a Personal Loan.

These two loans are most popular among borrowers due to faster processing and they never restrict the end user to use their loan money to fulfill the purpose. Now the question arises- which one is better option among both loans? To know this, we have mentioned few factors which help you to compare both the loans. It will give you better understanding of both the loans to decide which loan suits best to your financial situation.

Loan Size: As Personal Loan is an unsecured loan so the loan money ranges between 50 thousands to 15 lakhs. Some of the lenders can even offer a higher amount depending upon your creditworthiness and repayment capacity.

Gold Loan is secured type of loan and the loan quantum purely depends upon the gold amount that you will pledge as security. A lender can provide maximum of 75% of your gold’s value. Therefore, if your gold value is more, you can secure higher loan amount.

Tenure: The loan tenure given for Personal Loan is 1-5 years but few lending institutions will provide the longest tenure of 8 years. If you have low income then opting a longer tenure with smaller EMIs is a better solution.

Gold loans can be offered for tenure of few months to 5 years but it can be best option if one can afford a higher EMI payment for a shorter tenure.

Repayment: Personal Loan can be repaid in monthly installments which will be a mix of payable interest and principal amount. This is the only option which you must follow whereas Gold Loan can be repaid in different modes such as bullet repayment, monthly installments and upfront interest method, so you can any of one that suits your pocket.

Processing Fees: The charges for processing a Personal Loan can be 2-3% of the entire loan amount which is standard and mandatory but when you “Apply For Gold Loan Online“ or offline, the lender may charge processing fees up to 1-2% of the total loan amount. These charges are much lower than the charges on Personal Loan.

To reiterate, one can make choice between Gold Loan and Personal Loan depending upon their need, credit score as well as repayment capability. Personal Loans can be ideal choice for the borrowers who are looking for a higher loan quantum where as Gold Loan can be best for the customers who wish to opt flexible repayment options and also have a bad credit score.

If you are also planning to apply for Best Gold Loan, then you can visit ShubhBank or apply online at our website to enjoy stress free loan journey at lowest possible interest rate.