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Gold is the popular investment in India. India is the largest buyers of Gold in the world. Money is the immediate need in everyone’s life. Some people afford to fulfill all their personal needs with good income source. But some of us are not in a position to accomplish our desires. If a person is facing any unpredictable event, then he/she can sanction the gold loan. Gold Finance is generally secured as a borrower needs to place his/her ornaments to the finance provider as a collateral. The lender charges the interest rate on the basis of the cost of the gold ornaments provided by the cash seeker. Moreover, the rate of interest varies from financier to finance. Availing gold loan in an emergency can help a person to arrange instant cash without no hindrance. If a person wants to take a loan, he can submit his/her jewelry to the lender. The fund provider will evaluate the gold and provide the cash. Banks such as HDFC Bank, Muthoot finance, Manapurram finance, Axis bank are providing gold loan at reasonable interest rate. But HDFC Gold Loan schemes are available in the market which are offered by HDFC bank. HDFC bank is the one of the best gold loan providers in the marketplace. Importance of Jewellery Fund over Personal debt: •Lower interest rate
•Less documentation
•Easy to sanction
•Less processing time
•No processing fee
People having poor credit rating are also eligible for acquiring gold debt. CIBIL scores are not considered while availing the gold finance. That’s why, loan against gold is the best finance option for bad creditors. Earlier the lender used to provide the loan amount up to 90% of the value of gold. But according to recent RBI instructions, now Gold loan providers cannot lend beyond 60% of the value of the ornaments. These loans are of short duration i.e. from 3 to 6 months. The finance procurement process has become quite feasible with the help of internet. One can avail Gold Loan instantly through online websites. One can easily compare the best interest rates and then select the plan which suits to the borrower. After choosing a suitable fund provider, one has to fill the application form and pledge the jewellery to the financer. Through this process, one can get the cash within 30 minutes and can fulfill his/her personal requirements.
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HDFC Gold Loan, Gold Loan,
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