Gold loans are better than personal loans; The best way to raise money instantly | Know which is best option between personal loan and gold loan check detail
If you have gold you can also borrow on it and many types of borrowing through gold are beneficial.
New Delhi: Often you suddenly need money. This situation affects many people in lockdown. In such cases people have to take loans for money and often people take personal loans in such situations. That being said, personal loans are readily available, but they are a little expensive. But if you have gold, you can also borrow on it, and many types of borrowing through gold are beneficial. (know which is best option between personal loan and gold loan check detail)
What exactly are the rules for gold lending?
In such a situation, today we will tell you, in which situation a gold loan is beneficial. Also what are the rules of gold loan and how it can prove to be a better option than personal loan. Learn Everything About Gold Debt
The most important thing about a gold loan is its interest rate. Real gold debt is a type of secured loan and it lowers interest rates. It can be much cheaper than a personal loan. The bank is not worried about money if they keep their gold with them.
In a gold loan, you can borrow Rs 10,000 to Rs 1 crore depending on your gold. In this you can get a loan of 75% of your gold. The loan amount is calculated on the basis of 22 carat gold. If the carat gold is low, the loan amount will be decided accordingly.
Option to repay
The special thing about a gold loan is that it offers a number of repayment options. In this you can only pay interest or repay anytime if you have money. Also the special thing is that there is no obligation to pay interest first, which makes these loans cheaper.
No more paperwork
You do not need to do much paperwork on this loan. All you need to have in it is gold and people between the ages of 21 and 65 can apply. The loan processing fee is very low and does not make much difference even on the credit score. You can get a loan by taking the whole action in one day.
If this is the first time you want to file an ITR, then learn the whole process
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know which is best option between personal loan and gold loan check detail
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