Gold Loan

Indians invest in gold since it forms a core part of the culture and several religious festivities and also mainly due to its financial value.

Gold loans are secured personal loans. It has a lower rate of interest than normal personal loans. The repayment tenure is flexible and you have multiple repayment options at your convenience.

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The decision to choose what loan suits your needs better can be a bit overwhelming. Here, we will look at gold loan vs credit card loan, and which one should you choose.

Gold loans are secured loans where the borrower pledges their gold articles as security in order to obtain a loan. The lender in return charges an interest rate and once you return the entire loan amount, the lender returns your gold kept as a guarantee.

Gold loans are becoming increasingly popular with borrowers as they offer better rates and flexible repayment options. Borrowers can get loan amounts of up to 90% of the market value of the gold. Also, the processing time is less than a day.

Indians have an affinity for gold. India is among the largest importers of gold in the world. Indians use gold not only as ornaments but also as investment. They can use it anytime to fund urgent cash requirements.

A debit card is like owning cash and only using a debit card is like paying for your expenses with the cash available in your pocket. Money is directly used up from your account in the case of debit cards and no credit handling is required in this case.

A gold loan is a type of secured financing option that lets you borrow against gold ornaments and coins. As per the guidelines set by the Reserve Bank of India (RBI) guidelines, a lender can give you the utmost 75% of your gold’s value.

A good way to get out of a sticky situation is to simply take a Gold Loan against your precious ornaments. It is simple and quick and gets you the much needed funds instantly.

Gold loans are secured loans made against the gold jewellery you pledge. The loan amount is determined by the purity of the gold and its market price on that particular day. Gold loans are immediate; the banker examines your gold and deposits the funds into your account.

Gold, the gleaming noble metal, has long been associated with India and Indians. Someone, somewhere, at some point, may have purchased, inherited, or been given it as a gift. A Gold Loan is a form of secured loan that is availed by placing your gold jewelry, gold coins, gold bars, or other gold articles as collateral.

Gold in our country is a symbol of culture, tradition, prosperity, status, and fortune. It is used in festivals and on special occasions like weddings. You can see gold jewelry adorn women in our marriages. Gods and goddesses are decorated with ornaments of gold in India. It is used to give presents.

Indians are known for their love for gold across the world. India is one of the biggest importers of gold in the world. Gold is considered to carry significant value and also as a source of potential capital appreciation for the future.

Gold loan is a preferred option within the secured loan category since an applicant can get instant funds by keeping their gold jewellery as collateral. It allows people to use their gold ornaments, which otherwise would have been kept away in a locker, lying idle.

India is one of the largest consumers of gold in the world. As per the World Gold Council (WGC), the annual gold demand in India from 1987 until recently has increased by nearly 804%. And the trend is not expected to die anytime soon.

The home is where the heart is! This statement holds true and that is why everyone likes to own a beautiful home, with the best fittings and interiors, etc. Many a time it so happens that while going in for home individuals like to be on the conservative end due to the exorbitant cost of owning a home that they do not factor in the cost for the home beautification.  The need for beautification or improving a home may also come up a few years down the line, after the purchase of the house.

India is world’s second biggest gold consumer, and Indians’ love to gather more gold has never diminished over the years. It’s been estimated by the World Gold Council that about 22,000 tonnes of gold remains idle with the Indian citizens. This has spurred the Government, banks and NBFCs to promote gold loans aggressively in India to bring them out and convert into a financial asset.

We Indians are fond of gold. Not only does gold hold investment value, culturally we show an affinity towards gold. In fact, a study by the World Gold Council in 2017 revealed that Indians households, form the world’s largest hoarders of gold, holding a record 23,000-24,000 tonnes of the precious metal, worth at least $800 billion. Though the fancy for this metal has decreased after demonetization, gold still holds a strong place here.  

Gold loan Vs Personal loan, choosing the right oneThere are two types of loans in India which can be availed for emergency purposes namely Gold loans and Personal loans. Both have their own pros and cons and it is important to analyze which loan is best suited for you. Check out the table below comparing Gold loans and Personal loans.

Is Gold Investment a Good Idea in 2017India's love for gold is well documented. The fact that India is one of the largest importers of gold comes as no surprise. Indians, particularly south Indians, have a particularly emotional bond with gold. It is also perceived as a popular investment tool—one of the major reasons why Indians buy gold, although tradition and culture also explain the allure of gold.How to invest in goldGold is a generally safe instrumen