Nowadays, gold loan sector is booming in our country and proves to be a growing sector in global economy. The prices of gold are constantly fluctuating but there are several loans available to solve your financial needs. It is often true that when we hear the word loan, there are hardly any chances that we may think of right lender who can offer us right loan with great benefits.

However, there is one stop solution where you can “Apply For Gold Loan“ is ShubhBank which offers you best deals on loans at your doorstep. The loan processing is not identical with other secured loans as it the entire processing get completed just in 1-2 hours after pledging your gold and evaluations. One can also receive the loan money at their doorstep without any hassles.

A borrower can used the funds generated from gold loan to meet immediate financial crunch such as medical expenses or other personal and professional needs. Gold loan is a convenient way to raise the capital which you can use to meet your financial obligations. Moreover, your precious meal is also safe in a financial institution’s vault than at home.

In this blog post, we will read about the features of gold loan that fuel borrowers to seek out this most secured loan:

→ Simple application: It is very simple to get cash out of a Gold Loan as you just have to pledge your gold with basic details. Unlike other loans, a loan against gold doesn’t require any income certificates and bank statements as well as income tax return slips. Being secured loan, it has an instant processing.

→ Multi-purpose: It is one of the best things about the gold loan that the funds can be utilized for any of your needs. There aren’t any limitations proposed by the lender on using the loan money which tends more and more people to avail such kind of loan.

→ High LTV: Loan to value ratio is one of the most pressing query asked by the loan seekers that what proportion of the collateral value can be funded to them. Therefore, in case of Gold Loan, lending or financial institutions sanction 75% of the value of gold as loan money whereas some lenders or NBFCs may go up to 80%.

→ Repayment flexibility: One would be surprised to know that gold loan can be paid in variety of ways which makes this loan one of the most popular financial tool among borrowers. Based upon your preference, you can choose the repayment mode for yourself which makes you to pay back the loan in less time.

→ Basic documentation: There is only need of basic documents that can get you gold loan very easily such as ID proof and address proof. One may “Apply For Gold Loan Online“ and upload required documents on the website of lender to secure the loan.

Hence, anybody who owns gold can avail the gold loan without any credit rating, ITRs and other bank statements. The above mentioned factors make it the most secure loan among borrowers these days but make sure to repay the loan on time as default on gold loan could result in loss of your asset.