Apply for - Gold Loan
Gold Loan | Interest Rates | Documents | Apply - Dialabank
Gold is one of the most precious and costly metals in India. Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keping your gold in a closed drawer when it could help you in times of emergency. Taking a loan against your gold can help you to overcome any drastic situation.
Why Should One Apply for a Gold Loan?
There are many people who buy gold ornaments, jewellery or invest in gold coins. This is because, over the recent years the value of gold has risen and so has its importance. When a person buys gold, it gives a sense of security to the people that they have made a safe investment. Unlike other investments gold as an investment is considered safe. Not only this, it is loved by women. However, most people do not realize that the gold bought for securing their future can be used to safeguard their present as well. A person who is in need of some kind of instant finance can apply for a loan on the gold that they have in their house or lockers.
Why Gold Loan Instead of Personal Loan or Business Loan?
Now, any person who needs instant finance must be wondering why should I take a Gold Loan, when I can apply for a personal loan? There are many people in the country who have a low credit score or poor repayment capacity. Poor repayment capacity of an individual may refer to the monthly salary of the person which may be low from the point of view of the bank. That is the bank may think that the person will not be able to pay for the loan on time. Lenders often do not provide Personal Loan or Business Loan in such cases. This is the reason why gold loan is the best option for these people. All that the person needs to do is provide a simple identity verification and the gold as collateral to the bank.
Why Will Banks Provide a Loan To a Person With Poor Credit?
Banks provide loans against gold to the people with poor payment history. This is because, in gold loan, the gold is provided as collateral to the bank. The women of the household are emotionally attached to the gold as well as the fact that the gold is precious for all. This encourages the borrower to repay the Loan as quickly as possible. Hence, the bank is sure that the loan will be repaid on time.
Should you opt for gold loan from a bank or an NBFC?
When you apply for Gold Loan, the first question that comes to your mind is why gold loan, when there are other options which can offer you the required funds. The answer to this question is the ease and convenience with which this loan is processed and disbursed that score over other loan options. Also, it is offered at much lower interest rates as compared to unsecured loans.
The reason behind the easy and simple processing of this loan is that being secured loan financial co... read more
Gold Loans: Convenient and Easy...!!!
Your Precious Gold Ornaments are Safe with Gold Loans...!!!
GOLD LOAN is given in opposition to Gold. Most private banks, National banks and other financial institutions provide these loans at appealing rates. Some people take this loan to meet short term requirements like Daughter’s wedding, Children education and other financial needs. Some people think, rather than keeping gold at the house it would be better to take Loan against Gold.
Banks still preserve their edge over NBFCs in Gold Loan Race
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RBI Increased NBFCs Gold Loan Limit to 75 per cent
Mumbai Jan 9 : People who want to avail Gold Loan can borrow more as Reserve Bank of India on Wednesday allowed Non Banking Financial Companies to lend up to 80 percent of the amount of metal with an increase of 20%.
RBI said, "It has been decided to raise the LTV (Loan-To-Value) ratio to up to 80 per cent for loans against the collateral of gold jewelry from the present limit of 60 per cent with immediate effect".
Gold Loan: Quick Money When Needed
Everyone faces a situation when you need cash at a short notice. It can be paying medical bills, or debt consolidations. Whatever the situation may be, it is possible to acquire money quickly in the form of loan and without having to submit various documents.
If you have gold in the form of jewellry, then you can use it as security to avail money immediately. Gold Loans are the best possible option that you can use to handle financial crunch. Few banks claim to offer money in j... read more