What is Gold Loan Finance? - Loan Trivia


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Thursday 2 June 2022

What is Gold Loan Finance?


India is the world’s largest consumer of gold. You will find several families and people who wear the jewellery daily. Although it is a smart investment, many people lack the knowledge of gold loan finances. They are unaware that even if they have a low credit score they can acquire a loan with the help of the gold, they have.

Financing a gold loan is the quickest and easiest way to acquire a loan. You must know what a gold loan is and how taking one, will benefit you and your family. You must also be aware of the gold loan policy of the NBFC or bank, which provides the jewel loan.

Understanding what is a gold loan

The loan that you can acquire against gold accessories, gold biscuits, and ornaments, is known as a gold loan. You can also acquire this type of loan very easily by pledging gold or gold ornaments. The lenders will generally give you a percentage of the gold’s value as a loan. Furthermore, you can repay the amount of the loan through monthly installments and after repaying the loan, get your pledged gold back. Unlike home loans and car loans, you will not experience any restrictions on gold loans. 

Many families around the country own a significant amount of gold but don’t know how to use it, in times of emergency. Many are reluctant to sell the Gold, as Gold, apart from simply an investment, is an ‘emotional issue’ in India. 

Fast gold loans help you tackle contingencies effectively, by disbursing the loan amount the same day, lik the application. Several banks nowadays offer applicants like yourself, gold loans with very low-interest rates. Hence, if you need some financing for a wedding, family vacation, medical emergency, or even your education, you can get a gold loan. 

It is advised to always choose a lender which is reputed and trustworthy. There are several NBFCs that are willing to grant Gold Loans, but none come close to the services being offered by Bajaj Finserv. You can avail of Bajaj Finserv gold loan services to avail of a loan at feasible interests and less documentation.

Read Also: What Are Gold Loan Schemes And Benefits?

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