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Gold is an asset which every household has as an Investment, as part of their savings, as a security and in case of a need it is a savior, since one can pledge it to avail the funds for emergencies.

The benefits of Gold Loan:

  • Banks/NBFCs normally do not check regulatory scores (such as CIBIL, CRIF, Experian etc.) while availing a Gold Loan
  • It can be used as a tool to increase the regulatory scores which helps one to avail bigger loans at a future date with or without collateral
  • The processing is too fast (most of the times the same day)
  • Can be taken as a one time disbursement or have an Overdraft facility (pay interest for the number of days the loan is used)
  • Mostly online process or with minimum documentation
  • Rate of interest is competitive (almost equivalent to Home loan rates)
  • Flexibility of part payment or pre closure without much hassle
  • Since gold works as a primary collateral to funding agencies no additional property collateral required
  • One can avail Gold loan in addition to any existing loans
  • Banks/NBFCs do not ask for a reason/purpose of end use of funds

Subsidies available if it is taken from a particular bank branch location

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