Nowadays, it is becoming tough to sustain and maintain the cost of livings because of ongoing pandemic along with a trail of economic downfall as well as devastation. However, financial crunches and emergencies can knock your door anytime but it’s up to you that how to cope up such situations? One can either “Apply For Gold Loan“ or a Personal Loan.

These two loans are most popular among borrowers due to faster processing and they never restrict the end user to use their loan money to fulfill the purpose. Now the question arises- which one is better option among both loans? To know this, we have mentioned few factors which help you to compare both the loans. It will give you better understanding of both the loans to decide which loan suits best to your financial situation.

Loan Size: As Personal Loan is an unsecured loan so the loan money ranges between 50 thousands to 15 lakhs. Some of the lenders can even offer a higher amount depending upon your creditworthiness and repayment capacity.

Gold Loan is secured type of loan and the loan quantum purely depends upon the gold amount that you will pledge as security. A lender can provide maximum of 75% of your gold’s value. Therefore, if your gold value is more, you can secure higher loan amount.

Tenure: The loan tenure given for Personal Loan is 1-5 years but few lending institutions will provide the longest tenure of 8 years. If you have low income then opting a longer tenure with smaller EMIs is a better solution.

Gold loans can be offered for tenure of few months to 5 years but it can be best option if one can afford a higher EMI payment for a shorter tenure.

Repayment: Personal Loan can be repaid in monthly installments which will be a mix of payable interest and principal amount. This is the only option which you must follow whereas Gold Loan can be repaid in different modes such as bullet repayment, monthly installments and upfront interest method, so you can any of one that suits your pocket.

Processing Fees: The charges for processing a Personal Loan can be 2-3% of the entire loan amount which is standard and mandatory but when you “Apply For Gold Loan Online“ or offline, the lender may charge processing fees up to 1-2% of the total loan amount. These charges are much lower than the charges on Personal Loan.

To reiterate, one can make choice between Gold Loan and Personal Loan depending upon their need, credit score as well as repayment capability. Personal Loans can be ideal choice for the borrowers who are looking for a higher loan quantum where as Gold Loan can be best for the customers who wish to opt flexible repayment options and also have a bad credit score.

If you are also planning to apply for Best Gold Loan, then you can visit ShubhBank or apply online at our website to enjoy stress free loan journey at lowest possible interest rate.

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.

Gold has been integral part of our culture whether it’s for marriage, for prosperity or an investment. Nowadays, new generation is not acquainted with purchasing gold as other financial options give better returns. This yellow metal can also be pledged as collateral while you “Apply For Gold Loan“. However, it secures funds for us but instead of gold loan, it has various other benefits which will be discussed in next paragraphs:

No need of prior knowledge: You must be aware of the stock or mutual funds when it comes to make an investment in the stock market or mutual and you must have a good knowledge about calculating the capability of its returns which will get you ready to go ahead with any investment. Unlike, no such study is needed while buying a gold for you. The only thing to do is to buy the required quantity or what you can afford.

Always hold value: Since its existence, the price of gold has never dropped to zero which means this precious metal always holds great value even if the whole market collapses. You should realize that there is no great investment like investing in gold bars or ornaments.

Diversify your investments: Nowadays, the best way to diversify your investments is a better way to make any investments. You can simply diversify it by investing in gold. It is one of the best ways to hedge your investment portfolio against market ups and downs.

High liquidity quotient: Gold being a precious metal, always holds a high liquidity quotient than any other investment in the market. You can buy gold as well as sell it in a shortest possible time. When you compare this financial tool with other kind of financial solutions, you will find that gold stands to be at superior position than all of them.

Use it to hedge against inflation: Due to COVID outbreak, whole global faced the economy loss. Similarly, in our country, inflation rates got increased than the current interest rates. In such situations, we look at the investments that can help you to tide over such risks against inflation as well as market volatility. In the previous years, gold has been the best choice of investment, even when inflation has risen; even gold prices have doubled these days.

Hence, looking at these above mentioned benefits, gold comes out to be an important choice of investment option as it holds the best long-term store of value. No doubt, you can possess it for years and still end up selling it for a huge profits. Therefore, purchasing the gold jewelry, coins or bars will always be a good choice as in some scenarios. When you are in urgent need of funds, you can liquidate it.

One can “Apply For Gold Loan Online“ or offline via ShubhBank to fulfill your urgent financial needs whether it business requirement, medical emergency or personal need. You can secure up to 75% of your possession value as the loan money within a shortest possible time at lowest interest rates.

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.