Why Gold Loans in India are better choice during Lockdown

The COVID-19 impact in India is rising with each day. Many salaried people have either lost their jobs or are working with lower salaries. Self employed professionals and Businessmen have lost a lot of profit as no sales are taking place.

As we will soon begin by unlocking the lockdown, many would require money to restart their normal life. We understand that you will need some funds to resume your normal life and hence we bring you the best solution.

This solution is “Gold Loans“. Yes, Gold loan is one of the best solutions for people who want quick funds in their account. Below are some reasons why Gold loans in India seem to be a better choice during lockdown:

  1. 1. Because this is a secured loan, you can get the lowest interest rates. This means you will be paying smaller monthly EMI amounts.
  2. 2. The loan to value ratio of a Gold loan in India is capped at 75%*. This means if your gold is valued at 2 lakhs, you can get the best gold loan up to 1.5 lakhs!
  3. 3. You can get a gold loan for a maximum tenure of 36 months*. This is a short term loan and hence once you repay all the EMIs, you will get your gold back.
  4. 4. Gold loans are the most hassle free loans. There is very less documentation as compared to all other loans. If you have the necessary documents, you can get the loan approval on the same day*.
  5. 5. You can choose to repay the Gold loan as per your style. You can either
  • ● make EMI payments every month
  • ● upfront interest where you repay full interest amount first and principal amount at the end of tenure and
  • ● bullet payment where you repay both i.e. the interest amount and principal amount as lump sum.

Gold loans are one of the best ways a person can raise funds and save his/her investment as well. On repaying the loan, you get your gold back. So what are you waiting for? Apply for the Best Gold loan in India today.

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