In past days, digital payments were once a convenience but now they have become integral part of life in aspect of finances. The restrictions have risen during the Corona Virus Pandemic which has further pushed this necessity in real time frame. It’s true to say that digitalization has also changed the way individuals borrow funds. Any potential borrower who wants to access the funds with a single click of their fingertip sitting in their personal space can opt the e-gold loan.
As online loans are accelerating day by day, especially gold loans are turned out to be savior in the times of financial crunch as they are offered on affordable rates of interest and have easy repayment strategy. It is very simple to “APPLY FOR GOLD LOAN“ but there are few things which you must review while taking an online loan.
✓ Choice of Lender: It is wise to do a thorough research about the online lending institution and their credibility before you get a gold loan. Go through various factors to assure the digital presence of the lending institution which includes authentic website, ethical loan plans and terms as well as customer’s feedback. One can also check whether the lending platform is registered with RBI or a channel associate with verified financial institution.
✓ Online Payment Plan: Before making any digital payments for the loan against gold, it is good to track the verified accounts. Never make any payment under the name of a DSA or loan executive. To your ease, digital lenders offer multiple repayment plans where you can repay your loan amount using different EMI schemes such as bullet repayment, regular monthly installments or overdraft facility.
✓ Customer Support: Always assure yourself that a particular lending platform provides you with an efficient customer support because a legit lending institution always provides you with reminders on EMI payments via SMS and mails on availing any loan. A real-time digital lender will ensure a communication from the initial stage of availing a loan to till you repay your entire loan money.
✓ Interest Rate: It is the one of the topmost advantages of online loan against gold where you can easily compare the several lenders offering gold loan at lowest rates without asking your credit history. You can also compare the different interest rates and other loan charges before you “APPLY FOR GOLD LOAN ONLINE“ to choose a best deal for you. Another merit associated with digital gold loan that processing costs will be less, hence lowering down the borrowing costs.
✓ Know the Loan Norms: The authentic lending institution always make you understand all the loan terms as well as all the processing fees by the loan executive. However, it is borrower’s responsibility to read every loan clause carefully written in the loan agreement before signing any papers. One can also compare the multiple loan schemes offered on gold and its terms before finalizing any digital lender.
Therefore to get the best gold loan services and tailored assistance for your loan online then our lending platform, ShubhBank can be a great choice as we provide online gold loans at attractive interest rates being a frontrunner in the lending market.