Feature Image

THINGS TO KNOW BEFORE TAKING GOLD LOAN ONLINE

Posted on Monday May 18th, 2020

India is a country where everyone is fond of Gold or Gold ornaments. Gold jewellery mostly comes in guest appearances and later most people keep it Bank locker. They invest a big amount of money in gold ornaments and later they can use it in case of urgent cash flow. Many people around us still have doubt taking a credit against gold ornament in an emergency. In case of any doubt, you must be aware of this fact that this loan is the best way to meet the unwanted situation.

It is seen that in this method you can meet all types of financial crises without having much trouble. When it comes to credit factor or finance issues, it is seen that there many banks and NBFCs who have started giving mortgage or finance against jewellery. But when you are going to Apply For Gold Loan then always consider these following things


1. Compare the options: – It is a normal and straightforward way that when it comes to getting some financial help, a person will start searching for the right option in loan. There are no fixed guidelines as the availability of quantity depends on the borrower requirements. So to get the best option you need to search the best in the right way.

2. Check the credibility of the lender: – It is considered as the best and secure way of lending process. The ornaments will be kept by collateral; the jewellery will be kept with the creditor till the time borrower repay the amount. If the whole amount is not repaid; the creditor can sell the ornaments to get the amount recovered.

3. Check the repayment structure: – This part is very important. This is because the repayment of loan plays a vital role. But you need to be sure that you have selected the best method to pay the loan amount.

4. Know the quality: – When you are going to get the financial credit through the gold ornaments of your own, you must know the value of ornaments. The creditor will give the amount as per the quality of ornaments. So you have to be the jewellery you are pledging the must have the value that is required by you in case of financial help. The weight as well as the quality of it will decide the value of lending.

5. Types of Gold Accepts: – When you are going for this type of loan, you must be aware the Banks and NBFC institutions will not accept the gold bar. You will get loan only by Gold coins and gold ornaments.

6. Faster processing of loan: – The disbursal of this type of loan is quick and easy. The government has fixed the proper timeframe for this.


Overview
So when you want to apply for finance, then you want to check these factors so that you will get the best rate and best sum for your ornaments. You can also go for a Gold Loan Online and get the best result from them for your need as well.


Feature Image

THINGS TO REMEMBER WHILE APPLY FOR GOLD LOAN ONLINE

Posted on Monday May 11th, 2020

A gold loan is a quick way to get a loan and meet your financial needs at low-interest rates. You can opt for this loan to cater to many financial needs like child education, marriage etc. or expanding or investing in your business. Instead of keeping the gold jewelry at home or in a bank locker, you can use it as an asset by taking a loan against gold to meet the financial needs.

What is a gold loan?
Gold loan is a secured loan that is offered by banks against collateral (Gold jewelry and gold coins and any other gold item). The gold is returned to the borrower after the repayment of the loan. Generally, is gold loan is taken for short and medium tenure. Gold loan is preferred over other types of loans as it is easy and the disbursal of loan is very quick.

Eligibility Criteria for Gold loans
Gold loan is famous because the eligibility criteria is very minimal. You do not have to be employed or earning regular income or satisfy any income criteria to avail of this gold loan. The loan amount which will be sanctioned depends on the value of gold. If you are an adult and own gold, then you can get a Loan Against Gold.

The two simple ways to get eligible for loan is as follow: –
1. Your age must be above 22 years.
2. You must own the gold ornaments.


Why to choose the gold loan?
Gold loans are the best choice to get Instant Gold Loan Online. In case if you are unable to repay the gold loan then the bank has the authority to keep the gold with themselves. Here are some tips to get a loan quickly.

• Compare the interest rates: – There are many banks and financial institution which are offering gold loan. So, before choosing the best interest rate you need to search with providers.

• Check the add-on charges: – Like other loans, in gold loan also there is processing fees, documentation charges, notice charge and so on. Therefore, you need to understand this amount.

• Check the quality of ornaments: – Before applying for the loan, you have to check the quality of ornaments also. The gold should be of 22 or 24 carat. Apart from this, the Bank cannot accept other metals which are present in gold jewelry.

• Security of Gold: – You must ensure the safety of gold before providing them as collateral for the loan.

• Don’t Do LTV Calculation: – LTV is said to be advance to Value Ratio, and the creditors use it to express the ratio of the loan to a net worth of the asset. The lender uses this to check the risk involved in this. The lender will calculate the amount on this basis.


Conclusion: –
If you are planning to go for a gold loan, then you need to check all points carefully. To get the best loan rate & guide you can go for Gold loan with Shubhbank


Feature Image

HOW GOLD LOAN FROM SHUBHBANK WOULD BE A SAVIOUR IN COVID-19 ECONOMIC DOWNTURN

Posted on Friday May 8th, 2020

The COVID-19 crisis has been a whirlwind resulting in huge blow to the economy. It has been three months since the coronavirus pandemic surfaced in India and with the increasing number of cases from day to day in country; people have to self-quarantine them in their houses for indefinite period of time. Therefore, no doubt this pandemic has brought economic recession and we are looking at job losses and reduced income. Now the question on the wall is how different will be the financial life post COVID-19? There will be major shifts in your daily lives, personal finances, and household budgets as well as in financial markets as most of the people have missed credit card bill payments, loan EMIs and insurance premiums dismantling your savings. We at ShubhBank would like to support you during this difficult time with our Gold Loan as it has minimum eligibility criteria and doesn’t require credit score. Here we will discuss how Gold Loan from ShubhBank would be a savior in COVID-19 economic downturn to process your credit needs.

The potential power of the Gold Loan is becoming a word of mouth nowadays. Some decades back, gold loan was a high cost affair but today this financial product has become more formal and transparent with ore organized banks and NBFCs in the market providing loan at interest rate of 15-25% per annum. The Gold Loan from ShubhBank provides you the required funds by availing your gold jewelry as collateral security. One of the major benefits of the loan is that you can use it for various purposes such as to continue your business operations smoothly after recession, debt consolidation as you were unable to pay the credit card bills or utility bills due to shortage of money while sitting back at home from three months. There are few more fundamentals that drive the demand of gold loan among individual mentioned below:

It is the easiest way to avail money as the chances of rejection are very low because it has a secured asset in form of your jewelry as collateral. One doesn’t have to show the income proofs, bank statements and income tax returns to Apply For Gold Loan.
The good thing about this financial product is that it can be used for any purpose as it has no restrictions on the usage of loan money leading more and more people to migrate towards this loan.
The most important question in the borrower’s mind is that how much the asset value can be financed? Here, at ShubhBank, you can grab high loan to value ratio that goes up to 70-80%.
The gold loan can be repaid in many ways as per customer’s convenience.
You only require basic identity documents like ID proof and address proof and there is no impact of your credit score on loan’s interest rate.
If you apply online Gold Loan at ShubhBank, you can have a fair idea about loan money per gram with just few clicks of mouse on our website.

The scenario of gold loan market would upscale at a rapid pace in India after huge financial takeaways by this pandemic outbreak. So go for gold loan to fund your financial needs and emergencies.


Feature Image

HOW GOLD LOAN BENEFITS OVER OTHER LOANS

Posted on Wednesday January 29th, 2020

Gold loan from ShubhBank is an easy and quick way to meet instant financial requirements at low rate of interest. You can meet enormous range of needs such as child’s education, wedding expenses, business investment etc. You can meet your urgent needs by making the gold assets work by taking loan against them. The benefits associated with gold loan include hassle free and fast processing, no hidden charges and security of the collateral etc. here are some reasons that how gold loan benefits over other loans.

• It can be availed at lower rate of interest than other loans.
• The tenure ranges from few months to 4 years or more.
• There is no upper limit for loan amount in gold loan.
• Minimal documentation.
• No credit history and no pre-payment penalty.
• Benefit of fast disbursal as loan amount is provided within few minutes.
• Safe custody of asset.


It provides a lot of flexibility, something that is convenient by those who take gold loans. Another for this loan’s popularity is that you do not have to be employed or have to satisfy any income criteria to avail it. If you are 18 years old and own gold then you are eligible to avail a gold loan from ShubhBank. It does not include any exhaustive documentation and can be availed with only KYC documentation. Before applying you have to furnish the following documents:

• Two recent passport size photographs.
• Identity proof such as ID card, Aadhaar card, ration card etc.
• Address proof such as Aadhaar card, domicile certificate, utility bills etc.


Gold loans are always the best option to meet your emergency fund requirements. You also need to understand that you are borrowing against gold ornaments, which you need to repay with the accrued rate of interest. In case you default on repayment, then lender has authority to confiscate your jewelry to make up for the loss. You need to be more cautious while you Apply For a Gold Loan. Here are few tips for choosing a gold loan:

Compare rate of interest: Many banks and NBFCs are offering gold loans with great benefits. So make sure to get best rate of interest by comparing the interest rates provided by different lenders in the market.

Check add-on charges: Like other loans, there are always some add-on charges such as processing fee, documentation charge etc associated with Loan Against Gold. Therefore, you should understand all the add-on charges before applying for a loan.

Security of gold: You provide your gold jewelry as collateral so you must ensure the safety of asset. Always check the security measures at the lender’s end for the security of your gold.

Now you know gold loan better then make sure you take full advantage of it and educate others also to avail gold loan from ShubhBank. Empower all to make the better choice when it comes to taking a secured loan. Gold loans are preferred over other types of loans owing to quick disbursal without tedious paperwork.