In today’s high-speed world, monetary crises can strike suddenly, leaving us scrambling to track down fast and solid arrangements. With regards to getting to prompt assets, gold loans have arisen as a trusted and bother-free choice. Whether you want assets for clinical costs, training, business development, or some other dire necessity, a gold loan can open the force of your gold resources. In this blog, we will dive into the universe of gold loans, investigating their advantages, cycle, and all that you want to be aware of to make an educated choice.

What is a Gold Loan?

A “Gold Loan“ is a gotten loan that permits you to get money against your gold gems or trimmings. It offers the double benefit of giving moment liquidity while utilizing the worth of your gold resources. With gold loans, you don’t have to stress over financial assessments or extended endorsement processes. Your gold goes about as security, guaranteeing a fast and helpful getting experience.

Advantages of Gold Loans

• Instant Access to Funds: One of the main benefits of gold loans is the speed at which you can access funds. Gold loans require negligible documentation and deal with speedy disbursal, unlike other loan options, making them ideal for crises.

• No Credit Checks: No matter your credit history, you can get a gold loan. Moneylenders center principally around the worth of your gold instead of your credit score, empowering people with low or no credit history to benefit themselves from funds.

• Competitive Interest Rates: Gold loans frequently accompany lower interest rates than unstable loans because of the insurance. This component makes them a financially wise borrowing option for people looking for reasonable supporting arrangements.

• Flexible Repayment Options: Gold loans offer flexible repayment options, permitting you to pick a residency that suits your financial capacities. Whether you favor more limited or extended repayment periods, you can customize your loan repayment plan likewise.

The Gold Loan Process

• Assessment and Valuation: The gold loan process commonly starts with evaluating and assessing your gold gems or adornments. The bank will decide the virtue and weight of your gold to ascertain its ongoing business sector esteem.

• Loan Amount Determination: Given the worth of your gold, the bank will decide the most extreme loan amount you are qualified for. Ordinarily, banks offer a level of the gold’s reasonably estimated worth as the loan amount.

• Documentation: Gold loans require negligible documentation, typically including verification of character and address. You may likewise have to give the first receipt or bill for your gold adornments, if accessible.

• Disbursal of Funds: When the evaluation and documentation are finished, the moneylender will dispense the loan amount straightforwardly into your financial balance or give it in actual money, contingent upon your inclination.

• Loan Repayment: Gold loans are reimbursed in standard portions, including head and interest. You can reimburse the loan in month-to-month or quarterly portions or select a slug repayment toward finishing the residency.

Safety and Security

Banks pay extreme attention to detail in defending their gold resources. They store your gold in secure vaults with cutting-edge security frameworks, guaranteeing its assurance all through the loan residency. You can experience the brain’s harmony knowing that your valuable resources are in confided hands.

Loan Closure and Retrieval of Gold

When you reimburse the loan amount, including interest, your gold will be returned safely and expeditiously. A consistent interaction permits you to recover your loved belongings with no issue.

In past days, digital payments were once a convenience but now they have become integral part of life in aspect of finances. The restrictions have risen during the Corona Virus Pandemic which has further pushed this necessity in real time frame. It’s true to say that digitalization has also changed the way individuals borrow funds. Any potential borrower who wants to access the funds with a single click of their fingertip sitting in their personal space can opt the e-gold loan.

As online loans are accelerating day by day, especially gold loans are turned out to be savior in the times of financial crunch as they are offered on affordable rates of interest and have easy repayment strategy. It is very simple to “APPLY FOR GOLD LOAN“ but there are few things which you must review while taking an online loan.

✓ Choice of Lender: It is wise to do a thorough research about the online lending institution and their credibility before you get a gold loan. Go through various factors to assure the digital presence of the lending institution which includes authentic website, ethical loan plans and terms as well as customer’s feedback. One can also check whether the lending platform is registered with RBI or a channel associate with verified financial institution.

✓ Online Payment Plan: Before making any digital payments for the loan against gold, it is good to track the verified accounts. Never make any payment under the name of a DSA or loan executive. To your ease, digital lenders offer multiple repayment plans where you can repay your loan amount using different EMI schemes such as bullet repayment, regular monthly installments or overdraft facility.

✓ Customer Support: Always assure yourself that a particular lending platform provides you with an efficient customer support because a legit lending institution always provides you with reminders on EMI payments via SMS and mails on availing any loan. A real-time digital lender will ensure a communication from the initial stage of availing a loan to till you repay your entire loan money.

✓ Interest Rate: It is the one of the topmost advantages of online loan against gold where you can easily compare the several lenders offering gold loan at lowest rates without asking your credit history. You can also compare the different interest rates and other loan charges before you “APPLY FOR GOLD LOAN ONLINE“ to choose a best deal for you. Another merit associated with digital gold loan that processing costs will be less, hence lowering down the borrowing costs.

✓ Know the Loan Norms: The authentic lending institution always make you understand all the loan terms as well as all the processing fees by the loan executive. However, it is borrower’s responsibility to read every loan clause carefully written in the loan agreement before signing any papers. One can also compare the multiple loan schemes offered on gold and its terms before finalizing any digital lender.

Therefore to get the best gold loan services and tailored assistance for your loan online then our lending platform, ShubhBank can be a great choice as we provide online gold loans at attractive interest rates being a frontrunner in the lending market.

Loans against gold have become very popular over the last few years. The gold loans offer several ways to repay the loans as compared to other secured loans. However, gold is not just a precious metal because some people take it as a financial investment. One can “Apply For Gold Loan“ by pledging their ornaments to the specific lender.

Gold loans are one of the convenient ways to arrange finances in the times of need such as medical emergencies, travel or study purposes and business goals etc. This yellow metal always comes as a savior in case of financial emergency or situation. Moreover, the interest rates upon gold loan are comparatively low than other traditional loans as it provides you an option for flexible repayment schemes.

In this blog post, we will discuss about the several ways to repay your loan against gold. Therefore, we jotted down some of super ways that you can follow to “Repay Your Gold Loan“.

• Periodic EMIs: Most of the borrowers prefer such method where they are required to pay the loan money from the month following disbursement month. It is a best option for salaried individuals who have regular cash flow. The monthly installment includes both principal and interest amount.

You can also pick an auto debit repayment which deducts from your bank account monthly. It also helps to reduce the liability of interest rate as the gold loan tenure progresses.

• Periodic interest: It is one of the most efficient ways to pay back the gold loan through periodic interest where both the principal and interest charges are kept separated from each other. One has to pay only the interest in EMI and total principal amount has to be paid on maturity.

This option is best for the individuals who don’t have enough monthly cash flow to be able to pay interest and principal money collectively. Borrowers should consult their lender bout interest amount and loan cost beforehand then select accordingly.

• Bullet repayments: In this method, borrower is required to pay principal and interest amount at the end of the loan term. During the loan term, you are neither required to repay principal money nor the interest rate. It is called as bullet repayment as you pay the entire amount at once at the end of your loan tenure.

• Partial payment: It is another method to repay the gold loan where borrower makes partial payments of interest and principal amount of gold loan as per their convenience. This method does not require you to follow the basic EMI system.

• Monthly interest in overdraft account: The repayment of gold loan is very easy through an overdraft account method. The overdraft accounts act as transactional account where people can pay the monthly rate of interest as per the account’s borrowing amount.

ShubhBank offers all these repayment options when you “Apply For Gold Loan Online“ or offline to fulfill your financial emergencies. To know more about the gold loan repayment methods, click at our website or visit our branch in tricity.

Gold is a precious metal that has carried a high aspirational value in our country. However gold has always been an investment kind of thing but it’s also effective for securing a loan in times of need. Possessing gold has been marked up as symbol of prosperity in most of the households since time immemorial.

Moreover, many people in India have emotional attachment to the gold ornaments, coins and bars what they possess. Some of the people consider this precious metal as a security asset to “Apply For Gold Loan“ whenever they face a financial emergency or shortage of funds.

In this blog post, we have mentioned below some of the benefits for which you should consider availing a gold loan to support your financial situations or to face any emergency and urgent need of funds.

✓ Instant disbursal of loan: It is one of the biggest advantages of loan against gold that you will get instant loan money whenever there is urgency. The gold loan is disbursed quickly and it is an outstanding alternative to meet your financial requirements such as education fees, medical bills, business needs or any other specific end use.

✓ Affordable rate of interest: The most significant benefit associated with gold loan is that it is a secured loan as it requires your gold ornaments as collateral so it is offered on affordable rates of interest which will automatically reduce your debt burden.

✓ Big loan money: One can borrow a significant amount of loan money against your gold ornaments. ShubhBank offers a loan ranging from minimum of INR 10,000 and a maximum of up to INR 20 lakhs against your gold jewelry.

One can also use the loan eligibility calculator to get an idea about eligible loan money once they enter details such as loan tenure, number of gold ornaments, the weight of the ornaments and their quality details.

✓ Flexible repayment options: As compared to other secured loans, gold loans secure the most flexible repayment option. A borrower can generally allow choosing from any of the one option that suits his/her pocket. These options include bullet payments, part repayments, overdraft facility as well as flexi payments.

✓ Easy eligibility criteria: However a loan against gold is considered to be risk-free loan for the lenders so the eligibility criteria are very simple. Any person with gold ornaments, stable income and employment status can “Apply For Gold Loan Online“ or offline as per their choice.

✓ Fast and safe loan processing: Usually gold loans don’t have any complex documentation process. A potential loan seeker can just walk into the lending institution or get in touch at specific digital lending platform and submit KYC to avail a gold loan. Once you get approved, the loan amount is disbursed directly to your bank account within half an hour.

Hence, it’s high time to realize and unlock the potential of your gold ornaments. A gold loan can rescue you in times of emergency and you can redeem your gold after repaying the loan amount. To apply, visit ShubhBank or get in touch with us through our website.

Nowadays, gold loan sector is booming in our country and proves to be a growing sector in global economy. The prices of gold are constantly fluctuating but there are several loans available to solve your financial needs. It is often true that when we hear the word loan, there are hardly any chances that we may think of right lender who can offer us right loan with great benefits.

However, there is one stop solution where you can “Apply For Gold Loan“ is ShubhBank which offers you best deals on loans at your doorstep. The loan processing is not identical with other secured loans as it the entire processing get completed just in 1-2 hours after pledging your gold and evaluations. One can also receive the loan money at their doorstep without any hassles.

A borrower can used the funds generated from gold loan to meet immediate financial crunch such as medical expenses or other personal and professional needs. Gold loan is a convenient way to raise the capital which you can use to meet your financial obligations. Moreover, your precious meal is also safe in a financial institution’s vault than at home.

In this blog post, we will read about the features of gold loan that fuel borrowers to seek out this most secured loan:

→ Simple application: It is very simple to get cash out of a Gold Loan as you just have to pledge your gold with basic details. Unlike other loans, a loan against gold doesn’t require any income certificates and bank statements as well as income tax return slips. Being secured loan, it has an instant processing.

→ Multi-purpose: It is one of the best things about the gold loan that the funds can be utilized for any of your needs. There aren’t any limitations proposed by the lender on using the loan money which tends more and more people to avail such kind of loan.

→ High LTV: Loan to value ratio is one of the most pressing query asked by the loan seekers that what proportion of the collateral value can be funded to them. Therefore, in case of Gold Loan, lending or financial institutions sanction 75% of the value of gold as loan money whereas some lenders or NBFCs may go up to 80%.

→ Repayment flexibility: One would be surprised to know that gold loan can be paid in variety of ways which makes this loan one of the most popular financial tool among borrowers. Based upon your preference, you can choose the repayment mode for yourself which makes you to pay back the loan in less time.

→ Basic documentation: There is only need of basic documents that can get you gold loan very easily such as ID proof and address proof. One may “Apply For Gold Loan Online“ and upload required documents on the website of lender to secure the loan.

Hence, anybody who owns gold can avail the gold loan without any credit rating, ITRs and other bank statements. The above mentioned factors make it the most secure loan among borrowers these days but make sure to repay the loan on time as default on gold loan could result in loss of your asset.

Nowadays, inflation has caused a huge disruption in the country’s economy where many individuals have lost their job and businesses suffered losses and exhausted all their surplus capital, therefore in need of funds to take care of various needs as well as to cater the emergencies. Most of them are opting for unsecured loans which are not a great option as it comes with high rate of interest.

However, secured loans refer to borrowing funds by pledging any of your personal assets which has a benefit of low interest rate. An individual can “Apply For Gold Loan“ as it is the most stable and easy option rather than selling your gold to fulfill your needs. Taking a gold loan can address your short- term monetary needs and gain ownership of your possession when your financial situation gets better.

Let us explore the benefits of gold loan that how it is beneficial than selling it to address the current economic situation:

√ Available at doorstep: Selling gold is not an easy task as you need to search for reliable buyer who will pay you appropriate price. On contrary, getting a gold loan is simple as ShubhBank provides gold loan at your doorstep.

Once you apply for gold loan, a loan officer visits your place to check the quantity and quality of gold. Based upon such evaluations, your loan gets approved and once it gets approved the loan money is transferred to your bank account within 30 minutes.

√ High LTV: It is one of the major benefits of availing a gold loan because you receive high loan to value ratio against the pledged asset. Moreover, it offers you a financial freedom as you can utilize such high loan quantum to pay different pending expenses.

√ Safety features: Selling your ornaments could be your last resort, even pledging it as collateral could give you anxiety because of its security aspect. Now, you need not to worry about these security concerns as most of the lenders offer a robust security system ensuring the gold retrieved from your doorstep is deposited in a secured locker.

√ Competitive rates and flexible repayment options: The rate of interest on gold loan is on lower side as compared to other loans which makes it a reasonable option rather than selling your gold. Furthermore, repayment of gold loan can be done conveniently as borrowers can either pay interest every month or can make bullet payments to reduce the overall amount owed.

√ Nominal documentation: Loan against gold doesn’t require any heavy documentation as compared to other types of secured loans. One just needs to provide KYC details to complete the registration process and “Apply For Gold Loan Online“.

Hence, availing a gold loan through ShubhBank can provide you instant relief while maintaining ownership over your possession. We have proposed several benefits of getting a loan against gold rather than selling it. So, if you want to get a quick gold loan or need to understand more about these features, ShubhBank is one stop solution for all such queries related to gold loan.