‘Precaution is better than cure’; this quote is suitable when it comes to medicine only. There is no cure for an empty bank account or looted commodity because someone chose lethargy over attentiveness. It takes a lot of pain to earn money, but it literally takes one stupid decision to lose all of it. This blog shall tell you what precautions you should take to avoid all the mental torture of losing your money and commodities to a smarter thief! If you’re an experienced person in this field, then we’re sorry that this blog wasn’t written before, and you had to go through whatever you went.
Beware of thieves
Do a quick back-check before you pledge your gold. You get only 75% of the amount of your gold loan; the rest is kept with the bank. Technically you get relatively less of your gold’s worth.
Know your gold's worth
The ones who want to scam you are always going to find different ways to do so. They'd give you a lesser price relatively than what you deserve. They just want to take advantage of your helplessness! Beware!
Browse options
Always go through different schemes and policies before you choose one. Research closely and only then decide to opt for one that suits your situation well. Wait for some time. Usually, banks keep renewing their policies. So maybe wait for a while before you hit the iron? Also, try and research about Mannapuram gold loan and other similar facilities.
Consult people
Yes! Those nosy and over-educated relatives can be of help at times. They ask many people about their businesses, so they know about various schemes and policies. You’d also be saved by the “You should’ve asked me” phrase once you turn to them for consultation.
The 30-day rule
There is this 30-day rule which is used to promote savings. When you feel that you want to buy a particular commodity, wait for 30-days and see whether you need it or not. It could be useful for loan too, wait for 30-days and see whether you need the money or not!
Get a job!
There are loads of people who take loans only to cover their daily expenses! Loans aren’t supposed to cover your daily costs. They’re supposed to cover additional costs. At times, people don’t have jobs, and then they’d steal the gold from their houses and mortgage it to continue not having a job! Don’t be ‘some people.’ Take a loan only when you need it.
That is all for about the points to be taken into account; I hope you loved this blog, and it proved to be helpful to you. Your financial well-being is our priority here at Dialabank. We wouldn’t fail to direct you to the right path when your financial decisions go wrong. Hence, you can count on us!
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