A gold loan is secured credit solution that borrowers can get by pledging gold jewelry as collateral. The disbursed amount against gold is a percentage of pledged ornament’s current market value. Nowadays, financial institutions can lend up to 75-80% of the value of gold as per RBI’s guidelines and a demand for gold loan has increased over decades so this trend doesn’t seem to finish soon.

There are several factors that are taken into consideration while deciding loan money in lieu of gold jewelry. When you “Apply For Gold Loan“ the granted LTV ratio depends upon the form of gold, its weight and purity, borrower’s repayment capability as well as loan tenure. The above listed factors must have helped establish an idea of the things that lender consider while deciding loan value. Let’s discuss all these parameters:

Loan-to-value ratio: This value is an assessment of lending risk conducted by any lending institution before approving any loan. It is a percentage of pledged asset’s value that a lender can lend to a potential borrower. Besides that, loan seekers can use online gold loan calculator to evaluate the loan quantum beforehand. Hence, it is good to know about various loan options and choose the most suitable one.

Purity of ornaments: The purity of provided gold assets as collateral crucially impacts the granted loan money. As all knows, quality of gold jewelry is measured in carats ranging from 18 to 24 in numbers. More will be the purity of pledged jewelry, more you will receive the funds against it.

Weight of gold assets: It is one of the major factors that every lender considers while approving a gold loan. However, your gold ornaments are studded with diamonds or any other precious stone, only the weight of gold will be a determining factor. An individual who pledge higher gold weight age can secure more funds. Basically, one has to pledge minimum of 10-15 grams of gold as security against gold loan.

Eligibility: Apart from these significant factors, the other parameter that determines your loan value is meeting the eligibility criteria specified by particular lender to get an affordable rate of interest. There is a basic criteria check for gold loan which is easy to meet such as borrower should be above 18 years of age and have a sufficient amount of gold. Therefore, gold loan is an ideal credit solution for borrowers as it has no stringent eligibility criteria.

Rate of interest: The interest rate is measured based upon the creditor’s risk assessment and may differ from one lender to other. Moreover, the loan quantum and loan tenure plays a significant role in determining applicable gold loan rate. When you “Apply For Gold Loan Online“ or offline, always go with prominent lending institutions such as ShubhBank. A loan seeker must do a proper lending market research before choosing a lender for you.

Sounds simple enough! So, if you have idle gold assets and you are dire need of cash, then just opt for gold loan to fulfill your financial requirements easily.

However, digital payments were once a convenience but have become integral part of life these days. The restrictions have risen during the Coronavirus Outbreak which has further pushed this necessity. It’s not just the case as digitalization has also changed the way people borrow funds. Any potential loan seeker can now access the funds with a single click of fingertip sitting in their personal space.

As online loans are gaining momentum, especially gold loans are turned out to be savior in these tough times as they are offered on lowest possible interest rates and have easy repayment structure. It is easy to “Apply For Gold Loan“ but there are certain things which you must check on while taking an online loan.

Lender’s Credibility: It is good to do a thorough research about the online lender and his/her credibility before you avail a gold loan. Get through various factors to verify the digital presence of the lending institution which involves authentic website, ethical loan terms and conditions as well as customer reviews. One can also check whether the lender is registered with RBI or a partner associate with verified financial institution.

Online Payment Mechanism: Prior making any digital payments for your gold loan, it is significant to track the verified accounts. Never make any payment under a DSA or loan executive name. To your convenience, digital lenders offer multiple repayment structures where you can repay your loan money using various EMI methods such as bullet repayment, regular monthly installments or overdraft facility.

Customer Relationship Management: Make sure yourself that the specific lending platform provides you with an efficient customer service mechanism because a legit online lender always provides you with reminders on repayments via SMS and mails on availing a gold loan. A real-time digital lender will ensure communication from the initial stage of taking a loan to the time until you repay your entire loan amount.

Rates of interest: It is the topmost advantages of digital loan against gold that you can easily compare the different lenders offering gold loan with different deals without asking your credit score. One can also compare the different rates of interest and other processing charges before you “Apply For Gold Loan Online“ to choose a best lender for you. Other benefit associated with online gold loan that operation costs will be less, hence lowering borrowing costs.

Know the loan terms: The authentic lender always let you understand all the loan terms and conditions as well as all the processing fees details by their loan executive. However, it is borrower’s duty to read each and every loan clause carefully mentioned in the loan agreement before signing it. One can also compare the multiple gold loan schemes and its terms and conditions before finalizing any digital lender.

To get a best gold loan deals and customized assistance for your loan online then one stop solution, ShubhBank can be a great choice as they provide digital gold loans at competitive interest rates being a frontrunner in the gold loan market.

Nowadays, digital payments are convenient and ought to be a necessity of every market. The restriction in the Corona virus Pandemic further pushes the necessity. Likewise, digitalization has also impacted the lending market as well as the way borrowers borrow money. Anyone can secure the funds and get credited with just a click of button sitting at their personal space.

As digital borrowing is on fast pace, therefore, one can easily “Apply For Gold Loan“ digitally as it is most convenient and instant loan offered by the lender but there are certain things which one should remember before taking a loan from digital lender.

Check the lender’s credibility: It is most important to go through the credibility of particular lender before you decide to take a gold loan. Firstly, check the digital presence of the lending platform based on number of factors which include authentic lending app or website, application form, existing customer reviews etc. secondly, check whether the lender is verified and registered with RBI.

Payment Mechanism: One must make digital payments for your loan on your verified account as you can track it easily. Never accept the payments under a loan executive’s title. Nowadays, digital lending institutions offer flexible repayment options for online gold loans which you can repay by EMIs using various methods i.e. bullet repayments, over draft facility and regular EMI option.

Customer relationship management: Always make sure that the verified lender provides you with real time and efficient customer services. One will receive reminders regarding interest payments as in text messages or through e-mails, when they secure gold loan through a legit online lender. An efficient digital lender will ensure communication from the very first day of your application until the full repayment of your loan.

Rate of interest: It is the most significant thing when you “Apply For Gold Loan Online“ as it will give you easy access to compare the various lenders and rate of interest charged by them without affecting your CIBIL score. Moreover, when you avail any loan digitally, various loan processing charges associated with gold loan get waived off, hence lowering the borrowing costs.

Understanding the loan agreement: The digital lending institution will make you understand all the terms and conditions and the other hidden charges associated with the gold loan. It would be wise decision to go through every clause mentioned in the loan agreement before signing it. One must check the gold loan terms before signing the blue print of the agreement.

The online lenders in the market are primarily governed by NBFCs (non-banking finance companies) which means that they are the front runners in the gold market. Therefore, if you are planning to avail the best gold loan scheme and personalized assistance for the loan digitally then ShubhBank would be better choice as we offer online gold loans at attractive rate of interests and our efficient team will assist you through each and every step of the gold loan processing making your loan journey easy.

Nowadays, prices of gold have crossed 50,000 for every 10 grams in the country. It is the highest ever price of this precious metal so far. Therefore, it is evident that gold is quite desirable among countrymen whether it’s for wedding purpose, investment or any other reason.

However, pandemic is near to an end but it has adversely affected the economy globally. The expenses are rising and incomes are getting low, so it is difficult for natives to survive in this falling economy. Unfortunately, if any medical emergency arises in a house, the expenses can go up in lakhs. In such a case, Gold Loan is the best solution for you. Hence, we have listed some basics for you to know before you “Apply For Gold Loan“ and to make you understand better.

What type of gold can you pledge for loan?
If you are planning for a gold loan, you can directly pledge your gold jewelry as collateral. The loan amount will be evaluated on the basis of purity of your gold. The one thing to remember is that any bank or NBFC will not accept the gold bars, coins or bullions.

How one can avail gold loan in India?
All you need to have gold and visit the specific lender. Once the lending institution assesses the purity of gold, they will decide upon the loan amount that you can secure. The RBI guidelines strictly mention that the loan quantum cannot exceed 75% of the value of your pledged gold ornaments.

Is your gold secure with the lender?
Everybody is afraid and have a risk factor about pledging their assets when they apply for a gold loan. So, it is advisable to opt a reliable lender for gold loan and beware of an unlicensed financial institution. You can choose ShubhBank as one don’t need to worry about the security of their precious metal.

What kind of papers need to submit for loan?
A gold loan requires very less paperwork as one has to submit some basic documents such as identity proof, residence proof and passport size photograph. The individuals who don’t have a PAN card, they need to submit Form 60.

How much time does gold loan take to process?
Gold loans are one of the fastest loans to get approved either you “Apply For Gold Loan Online“ or offline. If you have all your documents in handy, you can get the loan money disbursed within a few hours.

What repayment options are available for a gold loan?
Gold loan offers an easy and convenient repayment options and one can choose from the following types such as upfront interest, bullet repayment or regular EMIs based on their convenience.

What happens if you default on gold loan?
If you default on loan repayments then keep in mind that lender has every right to auction your pledged gold to recover the outstanding loan amount.

Thus, if you want to apply for the best gold loan, visit ShubhBank to borrow the customized loan solutions for you.

Nowadays gold prices have rocketed to 50,000 for every 10 grams which is known to be highest price ever in the country. Undoubtedly, gold is quite desirable among Indians in various aspects such as for weddings, savings, and investments or for many more reasons.

As a whole nation is suffering from pandemic, it is difficult for everyone in this falling economy to survive. If there is a medical emergency and expenses can go up to several lakhs or to cover up any loss in the business, you can “Apply For Gold Loan“ to fulfill your needs. In this article, we have mentioned a list of FAQs with answers to make you understand better about loan basics.

Which jewelry can you pledge?
If you are planning to opt for a gold loan, you can pledge any of your gold ornaments and your loan quantum will be decided on the basis of purity of your gold. However, gold bars or coins will not be accepted by any lending institution.

How one can avail a gold loan?
To avail a gold loan, you just have to get in touch with selected lender either online or offline. Once the lenders assess the purity of your gold, they will evaluate the loan money that should be approved for you. The loan money cannot be more than 75% of the market price of gold as per RBI guidelines.

Is your gold safe with lender?
There is always a risk factor when you apply for any secured loan as you have to pledge an asset to the lender. Therefore, be aware of all the terms and conditions proposed by the lender. You can also apply for a gold loan via ShubhBank where you don’t need to worry about the safety of your gold.

What paperwork you need for gold loan?
A gold loan requires a minimal documentation which may include your recent passport sized photographs, ID proof and residence proof. The individuals, who don’t possess a PAN card, can submit a Form60.

How much time it takes to get a gold loan?
Either you “Apply For Gold Loan Online“ or offline, it is the fastest loan solution to get approved. If you have all documents in hand, you will get the loan quantum disbursed in your bank account within few working hours.

What are the charges on gold loan?
The charges involve processing fee, repayment charges as well as evaluation fees. While applying a loan against gold through ShubhBank, one can unlock the best deals ever at the lowest possible rate of interest.

What if you don’t repay a gold loan?
If you are unable to repay the loan money in any case, you should know that lender has every right to auction your pledged gold to recover the outstanding dues of your loan.

Hence, if you want to apply for a best and cheap Gold Loan in India, visit ShubhBank or click on our website and we will always be there to help you to fulfill your financial needs.

Nowadays, your gold ornaments are not just a priced possession or investment but also equip you with the potential of borrowing the money. In this article, we will guide you how to use your gold jewelry for instant funding.

Every Indian has a soft corner for gold and our country is one of the largest importers of gold across the globe. It provides you with certain sense of financial security at times of financial crunch where you can sell your gold to meet the obligations. However, selling your gold is not an option these days when you can “Apply For Gold Loan“ instead of selling it. Let’s have a look how you can borrow money with the help o your gold ornaments.

Gold Loan: This loan allows you to borrow cash by pledging your gold with specific lender. In other words, you have to keep your assets with the lender to borrow funds against it. You have to repay the borrowed amount within fixed tenure to get your ornaments back. However, you can’t process loan of the entire value of the gold you going to pledge. You will be provided with some fixed percentage of the market value of pledged gold. A loan against gold makes much sense in a financial emergency.

A gold loan is a short term loan with tenure of 12 months to 3 years. The loan amount is offered per gram of gold to provide enhanced convenience to the customer. Every lender has his/her lending limits and rate of interest per annum for the gold loan. Thus, compare all the lenders to pick up the best one.

Unlike other types of secured loan, a gold loan has minimum eligibility criteria. One needs to be 21 years or above in age and should be the genuine owner of gold jewelry. The lender will not consider your profession, credit history, income etc. with such loan as you are keeping your prized metal as collateral against the loan money. In case of default, the lender has complete right to auction of your gold to recover the outstanding dues.

Apply for Gold Loan: A loan against gold is secured type of loan, so loan processing and approval is quick. In fact, you can “Apply For Gold Loan Online“ to get the money disbursed in your account within a single day. You just need to select the right lender who offers you maximum loan value at attractive interest rate. After fulfilling the eligibility criteria, you can fill out the loan application and apply for a loan. Most of the lenders accept ornaments with purity of 99.99% for authenticity.

In life, there are several events where you require quick funds that might not readily available to you in the times of business loss or medical emergencies. Therefore, if you have gold jewelry, a gold loan can be better way out. ShubhBank gives you the instant access to the required funds to meet your emergencies with competitive rate of interest, fast approval, best customer services and minimal documentation.