If someone wants to address any emergency financial needs, the efficient option one can choose is loan against gold. This loan is used as a ticket that makes easier for individual to cover their monetary commitments without getting panic. A gold loan need not require any lengthy application process and ensure that your financial needs get serviced at the earliest. The “Online Gold Loan“ can be the most convenient option to tide over a period of cash crunch. It can be much beneficial, so take a look how to utilize the cash raised from gold loan.

⇛ Fulfill the business requirements: Some of the businesses like salons, boutiques and small eating joints do not require huge working capital for smooth operations. Thus, these business owners can opt for small loan money which helps to meet their capital requirements and can ensure their business keeps running without any hassle. It is also beneficial for the individuals who want to set up a business that does not need a huge investment.

⇛ Home improvements: If you fall short of money to cover your home improvement expenses, then a loan against gold can be your savior. You can easily secure the required funds to refurnish your home through a cash flow that you availed by pledging your precious metal with the particular lending institution.

⇛ Purchasing personal products: One of the most important reasons to “Apply For Gold Loan“ is to purchase an electronic appliance for your home or office, any needed gadget. The loan quantum is especially handy when it comes to purchase air conditioners, refrigerators etc for your personal or professional space, a tablet or laptop for your children education or furniture to refurbish your home.

⇛ Medical emergencies: Life is full of uncertainties and any of medical emergencies can cause a cash crunch which can be difficult to cover up with your savings and you have to think out a back-up plan. Usually, this instant loan can make a perfect option for you which can support you to regain the financial footing under such circumstances.

These above mentioned requirements can be easily addressed with the help of online gold loan. The loan money availed by pledging your gold can be beneficial when it comes to meeting these funding requirements, owing to multiple benefits they offer and without any end-use limitations. One can borrow the funds based on the value of the gold they pledge as collateral and need not to meet any stringent eligibility criteria to avail the loan.

ShubhBank is a digital lending finance company that has not only made the gold loans easily accessible to potential loan seekers but also made availing instant cash online through its website ShubhBank.com. One just only needs to submit an application through our website owing to easy-to-use interface. The loan can be availed 24X7, as required by the borrower by pledging the gold. You can utilize your pledged asset without depreciating its value when you repay the entire outstanding amount in a given period of time.

In India, purchasing gold on special occasions and preserving it as precious ornament is an old tradition. Due to such huge demand where this yellow metal is used as savior in financial crisis, the prices of gold are also skyrocketing. Sometimes in life, you have to struggle for financial back up required during emergency situations. In such case, pledging this precious metal at lending institution help you to provide liquidity. Most of the borrowers opt “Loan against gold“ which enables the person to generate quick money and utilize for personal or business purpose.

Process to secure Gold Loan
√ One need to visit the particular financial institution with your gold ornaments or can apply for gold loan online from website.
√ Upload or provide the basic documents required by the lender to get approved for the lender.
√ Afterwards, gold valuation is done to check gold purity then the loan will be sanctioned which may range from 75-80% of market value of gold. Moreover, lender may deduct processing fees which varies from lender to lender.
√ On approval, the loan agreement will be signed between lender and borrower and loan amount get disbursed directly to the bank account of borrower.

Benefits of Loan against Gold
Instant approval: You can secure this loan by pledging any type of gold jewelry either it is a gold ring, necklace or coin. You will get approved for the loan money as per the weight of pledged ornaments.

Security assurance: The borrower will be offered with 100% security assurance by keeping his/her pledged assets at high-security place. Even, you can rest assured of the security of your precious metal if you have taken a loan for longer tenure.

Higher gold loan value: The lender will give you the highest loan to value ratio considering the status of the current market value of the gold. It will help you to get the best value compared to other loan options.

Lower interest rate: You will get the lowest possible interest rates on gold loan as it is a secured type of loan. You can also pay the rate of interest as per your convenience according to preferred payment mode.

Minimum documentation: Whether you “Apply For Gold Loan Online“ or offline, you do not have to submit or upload the piles of papers. You just ask to submit basic proof documents such as passports, voter id’s, driving license, aadhaar card, pan card, passport size photographs etc. to get approved for loan.

No prepayment penalty: In case, you want to end the loan before its repayment period then there will be no deduction on the prepayment. You can easily repay the loan money before the end of gold loan tenure.

Hence, if you are in tough financial times where you do not have enough savings to help you come out of the cash crunch, then securing a loan against gold will be best option for you. Do a proper research, and look for a genuine and authorized lender who has a prior record of offering a gold loan.

There are some uncertain times when unforeseen expenses can deter your monthly income towards various expenditure outlays. In such situations, most of the people turn towards their savings to escape out the period of cash crunch by compromising their financial security in the long run. Nowadays, emergence of cash loans has effectively reduced the financial burden considerably as they are extremely helpful to get short-term funding on an emergency basis. Moreover, the minimum eligibility criteria associated with such loans allow potential loan seekers access the funds without much hassle.

The perspective borrowers can eliminate their emergency requirements easily by opting for popular funding solution like gold loan these days. The gold loan can help borrowers meet their urgent requirements by offering better convenience as compared to other funding options. ShubhBank has streamlined the loan processing of yellow metal to quite an extent. Some of the perks are offered by us to boost the convenience of availing such loan which is listed below:

High LTV ratio: Loan to value ratio is the percentage of the pledged security’s total value that can be secured as a loan at maximum. To exemplify, if the precious metal you pledge is valued at Rs. 20 lakh, and the LTV ratio offered against it is 75%, you can avail Rs. 15 lakh as the loan quantum. In this context, you can avail the highest loan to value ratio against your yellow metal at nominal interest rates.

Minimum documentation requirement: To take a “Loan against Gold“ you will neither need to undertake an elaborative paperwork nor comply with any strict eligibility criteria. In gold loan, the loan quantum disbursed is based solely on the value of gold ornaments you pledge, you can secure it without submitting any documents like your income tax return proof and such. Apart from this, the lender does not take your credit score into account to deem you eligible for the borrowing.

Assured security of the collateral: You can give away the hesitation of pledging your gold to take the loan with lender’s uncompromising measures to secure your precious metal. To illustrate, the yellow metal collected from you as a security is deposited to the lender’s vault where it is stored safely until the time you repay the loan. Sometimes, it receives additional security through an insurance scheme offered at no additional charges.

Flexible repayment term: If you “Apply For Gold Loan“ you are enabling to opt for a repayment tenure ranging between few months to years. In such period, you only have to pay the interest accrued against the quantum availed and the rest as bullet payment after the loan tenure get completed as compared to other secured types of loan.

With such great benefits, gold loan makes for the most convenient option when it comes to meet any type of cash requirement- whether long term or short term. You must have to understand that how gold is valued before you apply for it to ensure that you are aware of the entire loan procedure.

Nowadays, there are several types of loans available for everyone who’s in need. The most popular ones are home loan, personal loan, business loan, loan against property, gold loan etc. the traditional lenders and NBFCs are eager to provide the loan against a precious metal because most of the countrymen posses gold in form of jewelry and ornaments as they see a good amount of capital appreciation over the time. A gold loan provides you instant cash for most of your immediate expenses such as medical emergency, debt consolidation etc. Here is the list of some benefits of taking a “Gold Loan“ to fulfill your requirement.

♦ Quick processing: Once you submit the yellow metal to the lender, it evaluates it according to the market price and credits the loan money to your bank account. The gold is kept as collateral with the lender until the loan gets repaid. The evaluation of gold is conducted on the spot, hence cutting down the processing and disbursal time.

♦ Fulfill your financial goals: The repayment period of the loan can be extended from 6 months to 2 years that means you can close this loan sooner as compared to other loans. Therefore, it can fulfill your short-term financial goals and needs. For long-term goals, you can opt other kind of loan that can suit you the best.

♦ You can borrow as per need: Generally, other kinds of loan like personal loan and business loan are not offered if the amount needed is lower than a lakh but in case of gold loan, you can borrow anywhere between thousands to few lakhs. Thus, this asset can provide both small and huge financial needs.

♦ Loan money for any purpose: Many of the individuals “Apply For Gold Loan“ to fund medical emergencies, business needs, wedding expenses etc. Therefore, there is no obligation on the end purpose of the borrowed money. You can use the loan amount for an essential purchase, home improvements or just about anything as long as the usage is legit and not illegal.

♦ Minimal documentation only: All other loans mandate the lender to check on your income, tax returns and CIBIL score but in case of gold loan, you just have to provide your identity proof, address proof, passport sized photographs along with your gold ornaments.

♦ Lower interest rate: Most of the lenders charge a very low interest rate as they keep you gold jewelry as collateral in hand, as a result, lenders do not have to worry about recovering the loan repayment in case of default. Some of the lenders can offer interest rate as low as 10.5% as compared to other unsecured loans.

A gold loan is one of the most reasonable credit facilities that you can use for immediate financial requirements. Since gold jewelry and ornaments always appreciate in value and also helps lenders to trust the borrower and provide them a loan against gold. You can apply for the loan against gold at our website ShubhBank.com and get your disbursal the same day.

A gold ornaments are not just a priced possession or an investment but also a good way to secure funds. Indian people have a sweet spot for yellow metal; therefore, it is one of the largest gold importers of the globe. It also provides you the sense of financial security at the times of emergencies by selling your gold jewellery to meet the obligations. Nowadays, you need not to sell your precious metal as you can take a loan against it. Here in this article, you will come to know how to use your gold ornaments to get gold loan.

As per name, a “Gold Loan“ helps you to borrow money by pledging your priced possession with the lender. One can repay the loan amount within the fixed time period and can get your gold back from the particular lender. The financial institutions usually give loans of only a fixed percentage of the market price of gold but one is not allowed to borrow money of the entire value of the gold you put as collateral. In case, you are facing a financial crunch, a gold loan makes much sense.

A loan against gold unlike other loans has a minimum set of eligibility requirements. You only need to be 21 years old and should be the genuine owner of the jewellery. The financial institutions does not require to consider factors as such your income and credit score as you are keeping your gold as collateral against the loan money. In case, you are unable to repay the loan, the particular lender has the right to auction your jewellery to recover the dues.

Gold loan is a secured type of borrowing as the application process is very quick. Even, when you “Apply For Gold Loan“ the amount will get disbursed on the same day you apply for it. to avail this loan, you can either visit to a nearest branch of the selected lender or you can apply it online through the website. You just have to fill in the application form and upload the documents such as ID proof, residence proof to take the loan. The maximum amount of loan is calculated depending upon the value of your gold. If you get approved the amount will get disbursed in few hours after applying it.

Most of the lenders only accept the yellow metal with the purity ranging between 22 to 24 carats. Few lenders also accept gold bars and coins with a purity of 99.99%. It is a short-term loan with a short period of time. All lenders have their own minimum and maximum borrowing limits for the loan. The interest rate on the gold loan is minimum than other loans depending upon the amount you borrow.

Life is uncertain, so there are several events when you need quick funds that you might not readily have but if you have gold ornaments, a gold loan can be an excellent option. Gold loan is one of the convenient ways to access needed funds to meet your emergencies.

The income of most of the middle class families had squeezed due to job loss, pay cuts and undefined income resources with the closing of business amid Coronavirus pandemic lockdown, more and more individuals are opting for gold loan. Some people need cash to run their monthly expenses while others have to pay the bill. People are not applying or moratorium as it will end up in loan burden with the accumulated interest. Those who needed money for their survival are mortgaging their gold to arrange funds in shortest possible time. Now the lockdown has uplifted, people are searching for the lenders for gold loan to get cash in hand. There are some factors which have increased the demand of “Loan Against Gold“.

Lower rate of interest: It is much cheaper to secure a gold loan than borrowing a personal loan and credit cards which costs huge and results in debt trap if not managed properly because the interest rate on personal loan and credit card ranges from 12 to 16% and from 15 to 30% per annum respectively. If the borrower is not able to repay the loan, it will end up in huge accumulated interest, stress and lastly, it can end up borrowing again to pay back the existing loan.

Surging of the gold price: Gold loans are easily available and comparatively cheaper and you can secure the funds in short time. Apart from such benefits, the huge surge in gold prices which make it more attractive and affordable. The domesticated gold prices have kept on rising sharply in last couple of months. The soaring prices in lockdown have unlocked huge value for gold mortgages for potential loan seekers who are looking for funds and since prices of gold at are at peak mortgaging their yellow metal which can get them the best of the price.

Increased LTV ratio: The gold loan lenders surged after RBI decided to ascend the permissible loan to value ratio (LTV) for loans against gold to 85% from 75%. This aspect of gold loan has made it favorable for individuals who are financially hit by COVID-19 pandemic and are looking for liquid funds to meet their requirements.

Instant processing: When you “Apply For Gold Loan“ lenders evaluate it and credit the loan amount into your account and hold your metal until you repay it back. Nowadays lenders disburse the loan in few hours after you get approved for it and some of them have eliminated processing fees too.

Now when lockdown has been lifted, the gold loan sector is expecting an increase in demand for loans against gold as majority of middle class families are looking for liquid funds and working capital to push their businesses to normal which are hit by the corona virus pandemic crisis lockdown. Therefore, get in touch with ShubhBank for quick and hassle-free ways of getting a gold loan. Your gold will remain at secure place with lender throughout the tenure and you get it back, once you repay it back to the lender.