5 Reasons Why Gold Loan is the Safest Choice?

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5 Reasons Why Gold Loan is the Safest Choice?
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A gold loan is a loan in opposition to gold. It
is a secured loan taken by the borrower from a
lender by pledging their gold as collateral. A
loan amount is provided typically up to 80 by
some percentage of the gold, based on the current
market cost and quality. 1. One might overlook
its sparkle, but it is quite difficult to ignore
the glitters of these gold loans. It is safe to
go in for a gold loan because their soaring
prices and ever-increasing growth of consumerism,
nothing can really bring down its stature even in
years to come. 2. Convenience is one of those
reasons that one must consider while opting for
this alternative. Gold loans are quite in demand
as small business owners, borrowers look for
ready cash. They are considered to be a great
business model that can transcend the barriers of
time.
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3. Another important reason to choose gold loans
over other variants of loans at your disposal, is
its low interest rates. Borrowing against gold
as your guarantee is witnessing a sky-rocketing
demand because of the lower interest rates, a
client has to agree upon, as compared to other
retail loans such as those personal loans. Rates
for gold loans vary between 10 to 24 per annum
as compared to personal loan rates as high as 26
per annum that is dependent on your credit
profile. 4. One more factor from interest point
of view is that most lenders allow the clients to
pay the interest calculated on the loan monthly
and the principal amount of payment at the end of
the term and not as an equated monthly
installment. Even if you fail to pay the loan
within a stipulated time period, the lenders will
charge you a higher interest rate.
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5. If you are an individual with a bad credit
score with faint chances of recovery, Gold
loan is made for you. It is often suggested to
take a gold loan if you dont have enough
resources to pledge. Decisions revolving around
money, are never entirely full-proof. But Gold
loan proves to be one of those short term
decisions that ends up in long term benefits if
you grab the right opportunities. Hence, you can
completely trust this asset to contribute
infinitely in helping you grow financially.
Basant India Ltd offers gold loan service at your
doorstep. Our service executives will directly
disburse the loan at your doorstep, following the
latest public health protocol. We need very few
documents to sanction loan against gold
jewellery. Just carry your ID and Residence proof
for KYC requirement. We dont need guarantor
for Loan against gold jewellery. We shall provide
you certificate of value of your gold ornaments
along with their complete details while accepting
as security. We assure you that there is no
threat to your jewellery pledged with us.
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