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HOW GOLD LOAN HELPS YOU AVOID BORROWING FROM RELATIVES?

Posted on Tuesday September 27th, 2022

There are few times when certain financial urgencies require immediate funding. However, borrowing from your relatives and friends can be a good option but sometimes it can strain your relationships and bonding. There might be few consequences of borrowing from the family such as your reputation can be on risk, vague terms in borrowing, and inability to repay as well as upset relationships.

So, what could be the alternative to it? When you face a financial crisis, you can face the above mentioned repercussions of borrowing from family and friends; therefore it’s always better to look for formal lending and financial institutions. One such alternative solution is gold loan. It is a secured loan, so it is available at lowest possible interest rate. You can Apply For Gold Loan with ShubhBank at your doorstep.

In this blog post, we will guide you through some benefits of availing a loan against gold from ShubhBank rather than borrowing from your relatives. Let’s read out some of them:

● Affordable rate of interest: In India, the rate of interest on gold loan starts from just 0.85% per month with zero processing fees. To illustrate, for every Rs. 100 borrowed, one just need to pay back Rs. 100.85 at the end of month. Isn’t it sounds great because no loan can be borrowed at such affordable rate of interest to meet your personal and business needs?

● Entire process at your doorstep: Nowadays, gold loan application can be made from your doorstep through online lending portals. ShubhBank has its own website where you can apply for loan online from your personal space. A loan executive will come to your doorstep to process your gold loan application and the loan will be disbursed within few minutes. The time when you repay the whole loan amount, your gold will be delivered to your place.

● Safety: When the loan quantum is disbursed in your account, your gold ornaments is packed in packets and stored in safe lockers in bank. After repayment, ShubhBank will deliver your gold safely to your location within 1-2 business days. Our institution holds the full responsibility of your gold, when our loan executive steps out of your doorstep after loan disbursal.

The one thing to keep in mind is that while borrowing against gold, your gold asset is at stake in case of default where as in case of borrowing from your relatives and friends, your relation and reputation will be on stake. Therefore, keep your family and friends as a last option and it is always preferable to meet your financial crunch independently through lending institution.

In recent times, when such easy financial options are available in the lending market, instead of putting your relation at stake Apply For Gold Loan Online or offline because it a best ever option out there. If you are in financial crunch, visit or click on our website ShubhBank.com to avail gold loan. You will find out great loan features with easy eligibility criteria as well as flexible repayment options on loan against gold.


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WHAT ARE THE SUPER EASY WAYS TO REPAY GOLD LOAN?

Posted on Friday August 26th, 2022

Nowadays, gold loan has become immensely popular as it offers various ways to repay the loan as compared to other secured loans. Most of the people take gold as investment, not only as ornament. One can pledge his/her gold ornaments as collateral with the lender who offers loan amount against provided gold jewelry to fulfill their personal or business needs.

Therefore, you can Apply For Gold Loan to get rid of any financial problem and contingency. It is one of the easiest ways to raise the funds for various needs such as medical emergencies, travel purposes, business deals and many more. The other reasons individuals avail gold loan at lowest possible interest rates and also have an option of flexible repayment structure.

A gold loan can be repaid in various ways unlike other secured loans. In this article, we have listed some of the super easy ways to repay the gold loan. Let’s read about those ways:

● Periodic EMIs: Most of the borrowers prefer this method where they have to pay the loan money from the month following the month of disbursal. It is a convenient option for salaried individuals who have regular flow of cash. The EMI comprises both the principal amount as well as interest charges. It is an easy repayment process as it deducts from your bank account monthly.

You can also opt auto debit method where the EMIs are automatically debited from your account on a fixed date for easy repayment. This way also helps you out to reduce the liability of interest rate as the loan tenure progresses ahead.

● Periodic Interest: It is one of the most common ways to repay the gold loan where interest rate and principal amount are kept separate from each other. One only has to pay the interest amount in form of EMIs and principal amount is paid at the end of loan tenure. It is best option for borrowers who want to keep their installment smaller or don’t have stable monthly income.

● Bullet repayment: This repayment method makes you to repay the interest and principal amount at the end of gold loan term. During the repayment period, neither you have to pay the interest nor the principal money. One has to repay the entire amount at the end of gold loan that is known as bullet repayment as you repay the whole amount at once at the end.

● Partial repayment: It is another method to repay a loan against gold where you can make the partial payments of interest as well as principal according to your needs and cash availability. You don’t have to pay the EMI every month as you can make the payments wholly or partially comprises of both interest and principle quantum.

Hence, one can witness various options for the repayment of gold loan but ask the lender about the flexibility of repayment before they Apply For Gold Loan Online or offline to avoid any debt burden or default. For more information on gold loan, visit ShubhBank for rescue in case of financial emergency.