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What is Gold Finance? Loan against gold is a secured credit which is availed to people when they hand over their cash to the lender as a guarantee and acquire requisite amount of funds instantly. In any situation where one feels the lack of enough cash, Gold Loan holds its high value. Why is Ornament Debt called a Multi-purpose loan? Jewellery finance is considered as multipurpose debt as one can utilize the cash against gold items for various purposes like holiday trips, education, marriage, shopping, medical facilities etc. There is no restriction on the borrower on the utilization of the loan amount. A person can use the acquired cash to fulfill any expenses according to his/her need. What is the Need of Gold Loan? In life, due to growing expenses, one may feel the shortage of cash anytime. In that situation, sanctioning loan to get instant cash is a wise decision. Various types of funds are there like personal finance, auto debt, home loan, loan against gold etc. Opting debt against ornaments is the best option to get needful money in an emergency. The financer can provide the gold loan without verifying monthly or annual income of a person. Moreover, good credit scores are also not required to grab funds against jewellery. HDFC Gold Loan is the best option to draw cash at minimal interest rate. What are the basic requirements for sanctioning ornament finance? • Minimum 30 grams of gold is needed to enjoy cash against gold assets. It can be any gold item i.e. ring, bracelet, necklace etc
• Proof of identification
What are the major advantages of availing gold loan? • Loan Processing takes maximum of 5 minutes
• A borrower can get the amount without paying fixed monthly installments every month
• Unsalaried or people with less income can also opt ornament finance
• Interest rates are cheaper than other finance deals
• People having a poor credit scores can also apply for these loans
• The bank will not ask for extra documents. Only identity proof of an applicant is required
• No risk of loss
• Cash will be provided to people within 5 minutes
What is the Procedure to grab debt against jewellery? Process of sanction gold loan is very simple. One ought to submit the loan application form as well as gold assets in the banking organization. The bank will then do proper analysis of ornaments. Finally, the cash is handed over to the borrower on the basis of worth of jewellery.
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