Gold costs are touching record highs during that time of July and led many people to think about how they can utilize their gold assets. India is the world’s second-biggest buyer of gold, as residents connect critical social worth to gold coins, bars, and adornments held and gifted. Truth be told, in a meeting with Indian monetary daily The Financial Express last November, the overseeing overseer of World Gold Council had uncovered that Indian families have aggregated as much as 25,000 tons of gold. Numerous buyers who hold gold available for later are thinking about gold advances as a choice to meet their credit prerequisites, and Indian monetary substances have a large group of choices on offer. Gold credit organizations and banks have revealed flood popularity for gold advances over the most recent three months since the Covid pandemic hit.
Gold loan is a very effective way in which you can pledge your jewelry as physical securities to seek loan from banks. In India, people have always thought of gold as physical security which can help them in difficult times. The best thing about gold is that its value is not very volatile, because of which you can see it as a safer option for investment with good returns in the long run. Also, you can pledge gold loans any number of times on a piece of jewelry, once you have cleared your past loan. Gold loans do not depend on your credit score i.e. the banks never look for your capacity of the customer to repay the amount before disbursing the loan amount in case of a gold loan. This is because the banks are already getting the physical securities. One of the biggest benefits of the gold loans is that you can repay the loan (along with the interest amount), as a lump sum amount instead of being forced to pay back the loan in Equated Monthly Installments (EMIs). Gold loans are super quick to get. This is mainly because of less paperwork and no requirement for background verification. The cluttered process of document verification is replaced with a simple KYC which hardly takes 30-40 minutes.
While with a number of banks stepping into the market giving gold loans, it has become easier for people to get gold loans, a bigger problem yet exists for getting good interest rates. Rupeek.com can be a great one-stop solution for anyone who is looking for the best gold loan in the marketplace. Rupeek offers Gold Loans for interest rates as little as 0.49% per month. The site also offers you to shift your pre-existing gold loans from any other bank to its own umbrella, for a better experience. You can also use its online gold loan interest rate calculator for absolutely no fee, to calculate interest rates based on different plans. So don’t forget to visit Rupeek.com to find the best gold loans at the lowest interest rate and with all the services provided at the comfort of your home.
