Gold Loan is a secured form loan which is considered the best option to make money in an emergency. The secured form means that the person has to put gold as collateral. The person can place anything made of gold. It can be gold jewelry like necklaces, watch, earrings, bracelets and one can also provide gold coins, bars, biscuits etc. There are no restrictions on the physical structure of gold to apply for Gold Loan. It is the simple and safe loan scheme which offers fast and quick cash against gold assets. It is the fastest way to make money as the loan gets sanctioned in just few minutes. It may hardly take five to ten minutes to get the loan disbursed. There are only few cases which may take an hour to disburse the loan. The gold loan scheme is highly popular all over the country. Earlier people went to local jewelers to get money against gold. There are many chances of fraud and people were not5 much aware about the rates offered in the market. Nowadays, Many big banks and companies have come up with the deal of gold loan helping people to overcome the economic crisis of life. These include many private and nationalized banks and NBFCs offering gold loan at affordable rates. The Manappuram Finance Limited is the major gold loan company in India which offers gold loan at lowest rates in India. The Manappuram Finance Gold Loan scheme is very popular among the people as it is available at low interest rates with flexible repayment options. Prominent Features of Gold Loan: 1. It is a secured form of loan and the applicant has to place gold as collateral and gets money in return. 2. It is the fastest way to make money. The process of gold loan takes 5-10 minutes to get the loan disbursed. 3. The person can get huge cash by placing gold property as security to the lender. The person can acquire around 90-95% of the market value of gold. 4. It is a short term loan. The person has a period of 3 to 12 months to pay the loan to the lender. The person can also renew the loan in case of higher loan amount. The lenders may charge penalty for renewing the loan. 5. It is offered at low interest rates in the market. The rates offered on gold loan ranges from 13-15%. The applicant has to pay the loan in the provided term to get the gold back. 6. The person also has an option to pay the interest rates during the tenure of the loan. The amount borrowed by the applicant is to be paid at the end of the term.
Related Articles -
gold loan, manappuram finance gold loan,
|