The loans are called rescuer for many people who are in need of money. Especially during the time of urgency lenders are ready to provide which will help the borrower to pay for his needs. In this goal achieving the people are busy making as much earning they can so they can improve their lifestyle, this is why people are now ready to bear risks as well.
People always choose those loans which are quick because early the amount early the purpose is fulfilled. The gold loan and personal loan both are having their own benefits which people take into consideration when availing of the loan.
Gold Loan benefits
Low-interest Rate
Since there is the involvement of your income and your mortgage so you can enjoy a low Axis Bank Gold Loan interest rate on your GL.
Documentation is fast
There is not much requirement of documents in this just the proof of your gold carat and your income slip required in it.
No Foreclosure charges
The best benefit of having a gold loan is you can pay the amount at any time and there will be no foreclosure charges as well. Since everything is related to you there will be no need for charges.
Different Repayment Options
There are 4 ways to do repayment in gold loan i.e. bullet repayment, regular EMI payment, partial payment, and EMI pay & principal at maturity payment.
Personal Loan benefits
Fast Disbursal
Your amount will get disbursed in a minimum of 24 hours. In quick time you can have up to Rs. 25 lakh in your hands
Quick processing
This is a quick processing loan when you pay for Corporation Bank Personal Loan Processing Fee it means you are ready for the loan and can pay the debts easily later on.
No collateral
You don’t need to give any collateral, just keep paying regular Corporation Bank Personal Loan Interest Rate and banks will not interfere. Just make sure you don’t miss much of the EMI amount otherwise the bank may take strict action.
Simple eligibility
All you have to do is provide your income sources or maintain a good credit score with the help of this bank will get to know that you can be a reliable borrower. If you still miss you can arrange a co-applicant with you which will work as a guarantor.
The people who choose these loans they play smartly means they calculate every aspect of the loan. Like using the EMI calculator for both GL and PL they are able to compare both the loan and their expenses easily and as per their payment schedule they either choose a gold loan that comes with short tenure or they choose a personal loan that comes with longer tenure.
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