Here’s What You Need to Know about Gold Loans!
A fairly common practice in India, borrowing money against gold jewellery is something that the country has been witnessing for decades. The money disbursed can be used for various purposes like for business, medical, or any other financial needs. A gold loan is one of the easiest ways of availing urgent funds. Today, with top-notch brands offering gold loans at better and lower interest rates, it has become much more convenient to get a loan against your gold jewellery. However, a lot of people are still unaware of the benefits of availing a gold loan. Gold Loan: An Overview First things first, it is important to know what a gold loan exactly means. To give you a brief overview, a gold loan is a type of loan that you can avail by pledging your gold jewellery as collateral. The bank or lender with whom you pledge the gold will lend you the required loan amount after evaluating your gold. Based on the market value of your gold, the loan amount will be transferred to your account. To mak...