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Gold Loan: You can borrow money on gold, people will get these benefits, gold will also be safe

Gold Loan Rate: People often need extra money to meet their needs. People also have to take loans ( Loan) several times for these extra money. However, people also have to do a lot of paperwork to get a loan. At the same time people do not have the necessary documents required by the bank. At the same time, banks do not get enough income. In such a situation banks can give a loan on gold ( Gold).

Gold Loan
Loan can also be taken on gold. There are also many benefits of taking a gold loan ( Gold Loan ). Gold loan can be taken if you need money but do not want to sell your gold. This is a safe loan option. At the same time, a loan can be taken on gold according to the value of gold.

Gold Price
Gold loan is a safe loan, where gold jewelry is provided as security. At the same time, the amount given under the loan will depend on the value of gold. When you take the loan, the gold jewelry has to be given to the lender and only after paying the full amount will those jewelry be returned.

Low interest rate
Many banks and non-banking financial companies offer gold loans at ( NBFC ) attractive interest rates. Since Collateral is being provided, a loan can be acquired at low interest rates.

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Highlights of Gold Loan
– You can avail gold loan to meet various needs. For educational purposes, medical emergencies, vacation etc.

– Gold pledged to a bank or financial institution acts as security, on which the loan amount is given.

– Tenure of loan can range from 3 months to a maximum of 48 months.

– Loan can be returned in the same monthly installments ( EMI).

– Advance payment of interest and repayment of principal loan amount can be done at the end of the loan period.

– Interest can also be repaid on a monthly basis and the principal loan amount at the end of the loan period.

– While the person taking the loan pays interest regularly, many lenders offer the option of discount on the interest rate prevailing on the loan in lieu of gold. This discount can be 1% – 2% discount on the basic interest rate.

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