always look for a source of funds that is within their capacity and suits their needs. They look for economical ways to get credit. Economical credit sources are the ones that yield good value or provide the expected returns and are within the set budget of the borrower. Getting a loan might be easy but the costs attached to it can cause an inconvenience to the borrowers. Different types of loans have different charges and these charges may also vary depending on the policy of the bank or NBFC (Non-Banking Financial Companies).
Gold loan is a very important and the most economic source of credit for people who are looking for acquiring funds urgently. It is very feasible for low-income households. Loans against gold as collateral are swiftly and easily available. When compared with other types of loans, a gold loan is the only form of a loan with consumer-friendly terms and conditions.
Gold loans are readily available for the borrowers with minimal document requirements (KYC documents) and the loan amount can be processed within 45 minutes. The sanctioning of a gold loan is not dependent on the credit history of the borrower, banks and NBFCs (Non-Banking Financial Companies) only consider the purity and weight of the gold article to be pledged by the borrower. The gold loan interest rate varies from bank to bank but is not sky-high. Aforesaid points are the only areas of concern for a borrower who is applying for a gold loan.
HDFC gold loan policy provides the facility of applying for the loan online with gold loan interest rates starting from 9.90% and minimal processing fees.
Gold loans are always preferred over other sources of credit because it is very approachable and readily available to the borrowers.
留言