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

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.

Nowadays coronavirus pandemic has pushed whole globe in to lockdowns generating economy crisis and messing household finances. All the world economy has witnessed a standstill and unemployment has risen to unmatched levels. Therefore, your personal finances are also suffering in this crisis. Hence, care must be exercised as smart money management is important for survival. Every individual has to think calmly that will help you to fortify your household finances making you to come out of crisis unharmed. ShubhBank is suggesting you to exercise some pillars of finances and how to manage your money amid “Covid-19 Crisis“ to get autoimmune to the financial crunch.

1. Build emergency funds: You must save something from your monthly income in an emergency fund that can be accessed during critical times such as job loss, medical treatment etc. Never use such savings for lifestyle expenses such as vacations, entertainment or shopping.

2. Liquidate your assets wisely: You should act in an orderly manner and try to liquidate your assets to cover urgent cash needs or to protect your investment from irrecoverable losses. Be careful about the tax implications as well as the costs of liquidation like penalties or exit loads.

3. Top-up your existing insurance policy: Plan to improve your insurance coverage by buying a top-up health insurance policy. It’s an easy way to get additional plus large sized coverage with your existing coverage acting as a deductible.

4. Avoid panic: A clear headed thinking is always needed for your decisions such as liquidation or fresh investment because panic driven action may compound on your ongoing losses. It is always advisable to tolerate the ongoing volatility to earn higher returns later so buy new investments only if they line in with your financial goals.

5. Evaluate your monthly investments: This pandemic has given many valuable financial lessons so no longer align to your goals can be pruned. Always continue making your monthly contributions towards SIPs or any chosen scheme if you have regular income source. Never liquidate your investment if you fall in short with cash.

6. Don’t apply a loan without comparison: Always plan a loan with lowest interest rate and that can be done by comparing the different lenders at online marketplaces. You can “Apply Online Gold Loan“ or LAP at ShubhBank that may carry lower interest rate which in turn charges you less than credit card debt.

7. Use the moratorium if you require: During COVID-19 outbreak, lenders are providing a 3 month moratorium on EMIs. You can use this option if you have cash problem but always be aware of the interest rate that accrue during the deferment. However it may relieve you from stress for short time but if you have a regular income then continue with your repayments as you will gain nothing from the deferment.

8. Keep an eye on your credit card dues: Credit card may charge you higher rate of interest per annum. So never let your dues to build up and keep them repaying to decrease the chances of debt trap.

As per COVID-19 outbreak, the whole country gone self-quarantined which have given rise to the unemployment, dismantling your monthly budget and also flattened the daily wages. However, credit cards would be helpful in such scenarios but there is time where you need cash to pay and then you have to think about other options. In these times, people think of the loan that is easily available in their personal space with great features. So, the Gold Loan from ShubhBank is the right choice in such tough times. It is the only loan which doesn’t require any income proof so there is easy schedule of EMI through this loan. Let us make you understand that how Gold Loan from ShubhBank services in COVID-19 lockdown to cut the crisis of cash.

HOW GOLD LOAN IS PROCESSED?
To secure a “Gold Loan“ you have to pledge your gold ornaments as collateral in our financial institutions. The loan quantum will be the 75% of the market value of the gold and your EMI will be a low key as it is secured loan which could be easy to afford. When you repay the whole amount, you will get you assets back. A Gold Loan from ShubhBank can be availed by sitting at your desk in your home as we offer digital platform for lending but you have to visit a once to pledge your yellow metal. We will evaluate your pledged metal after verifying all the KYC documents. After evaluation, we will cater the loan according to your requirement, then you have to decide what loan quantum you need and decide the tenure in which you repay the entire loan money. Thus, the EMIs will be planned accordingly. If your loan gets approved, then the loan money would be transferred to your bank account within few minutes to few hours.

SOME OTHER LOAN YOU CAN OPT IN COVID-19 LOCKDOWN
As mentioned above, you can “Apply For Gold Loan“ at ShubhBank in easy and simple way but there are few other financial products which could also be helpful to fund your needs that are discussed below:

Personal Loan: A Personal Loan from ShubhBank is one of the popular short term loans in the tricity. However, the rate of interest on this unsecured loan is high but if you are in need of immediate funds then it has no comparison. You can also avail it online at our website ShubhBank.com.

Loan against Insurance policy: If you are a policyholder, then you can apply for a loan against Insurance from ShubhBank. If you are in short-term crisis, then it can be an excellent alternative to the personal loan. The most advantageous thing is that you have the full tenure of policy to pay back the loan. However, you get this loan easily but if you default on premium or principal or on interest rate, you policy will lapse and insurer has right to recover the loan money from the surrender value of the policy. Therefore, plan your loan and EMIs accordingly.

“Gold Loan In India“ is emerging as a popular way of getting quick funds. Indians traditionally hold yellow metal as a savings component. Now it is also increasingly being used as a funding component. A Gold Loan from ShubhBank is a loan given by against the security of your gold ornaments and jewelry. If you are looking for a Gold loan then these are the top mistakes one should avoid while applying a gold loan.

• Opting High Interest rate to get high LTV: Gold Loan quantum depends on per gram rate of gold prevalent in the market. Most of the lenders allows for LTV ratio of a maximum of 75%. Some lending companies provide highest LTV scheme at significantly higher interest rates, so beware. To avoid burden of interest in future, always choose the schemes which provide your higher quantum at lower interest rate.

• Evaluate the Interest Rate Calculation: The lending institutes often market their schemes to show optically low rates of interest and subject the borrowers to terms and conditions which might end up paying a significant higher interest. Therefore, always grab a deal which offer fixed or constant interest rates and do check how your interest will be actually calculated.

• Wrong Repayment Mode: The traditional lenders offer EMIs as a repayment method whereas NBFCs charge monthly interest. In case of missing your EMI or a failure to make this monthly payment might lead to higher interest rate called as jumping interest rates. Always choose a repayment method which suits your cash flow requirements. The gold loan from ShubhBank offers flexible repayment option where a borrower can pay at any time during the tenure of loan without any change in interest rates.

• Ignoring the Hidden Charges: Some lending institutions often hide a lot of charges in their loan application. These charges may include processing fee, foreclosure charges, penal charges on late payment, and auction related charges. Always count on additional charges in your calculation to know the full financial cost of your loan. These hidden charges can be burdensome in long run. “Apply For Gold Loan“ from ShubhBank which offers transparent loan processing with no hidden charges.

• Choosing the wrong tenure: Tenure means the time period in which you repay the loan. Tenure varies from few months to few years. Therefore, choose a tenure that suits you the best. Keep in mind that how interest calculation is linked with your tenure. If you are charged with jumping interest rate, you might be paying higher interest with long tenure. Hence, choose wisely as per your cash flow and repayment capability.

• Being unaware of Auction term: In case of any default, your gold will be up for auction. Your lender will be entitled to auction your assets in the market and recover the loan money. It is wise decision to discuss the auction terms clearly prior borrowing and check the penal charges associated with auction.

As a borrower, be aware of not committing such above mentioned mistakes while applying for a gold loan. Always take an informed decision as you are entitled to do so.

There are many dreams that a person has in a lifetime. The most challenging part of it is to fulfill the same as most of the ideas need money to get perform. In that case, all the people search for the ways by which they can satisfy some of their dreams. In that case, it is now easy for you to make your dream come true with the help of personal loans.

How to get loans?
When you are heading for personal loans, you can see that there are various types of personal loans. Some of the banks to offer loans by keeping your valuables as a mortgage so that if you can’t pay the loan, they will sell it to recover the amount. Among all the kind of loans, going for the gold loan is always a better option.

Why gold loans?
Gold loans are such kind of loans in which you need to take and deposit the gold ornaments with the bank.
After that, they will check the weight and purity of gold, and then they will give you a loan based on the importance of the gold. But for that all, you need to apply for gold loan in the bank first.

When you apply, then you need to take the gold to the bank. But before that, you need to ensure some of the other things as well. As gold is a precious asset so before going to “Apply For Gold Loan“ you need to check some factors.

Factors need to check before taking the loan

1. Tenure for gold
When you are going for it, then you need to check the mandate for the gold loan. Most of the loan offer to you are usually for one year, but you can extend it as well for next few months.

2. Interest rate
The different bank offers different interest rate, and for that all, you need to make sure to go for the best interest rate giving bank.

3. Check for the loan amount
When you go to apply for gold loan you need to make sure that you check the amount of loan for it. All banks offer different loan amounts, but you can check your loan amount with the help of a loan amount calculator.

4. Repayment process
If you are availing any loan from any bank, then check the repayment process for the same. There are different ways by which you can pay the loan amount, and for it, you need to explore these options.
So, these are the top factors that you all need to check while going to apply for gold loan.

How to apply?
If you are interested in applying for the gold loan, then you can go for it by visiting the banks or even using it online. There are many banks that all now offer a “Gold Loan With The Best Interest Rate“ and other features for it. So, for all of it, you need to go through various banks and then decide about it.