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5 Best Gold Loans India

By Author: neha sharma
Total Articles: 1245

"Whenever we are in dire need of money, we resort to investments. If you have a decent credit score and know can repay the amount on time, then there is no better investment than personal loans. From absolute transparency with the policy to flexibility in returns, personal loans are easily the best type of loan there is. However, when it comes to gold loans and loan against property, you get a further advantage.

They come with longer tenures as you provide either gold or property as a security. Many opt for these loans than the unsecured ones. Banks and other financial organisations provide gold loan. They can be in any form – gold bar, gold jewellery, etc. The lender can auction your gold if you do not repay the loan amount on time.

Some of the salient features of a gold loan are:

1) Since it is a secured loan, the processing time is sometimes less than an hour or maximum 3 hours
2) No salary proof needs to be provided while enrolling for one
3) Documents such as Voters ID and PAN card would suffice while availing the loan

Several public/private sector banks and non-banking financial company have the right kind of gold loan to woo their customers. We have jotted some of the best gold loan offered in India:

1) HDFC Gold Loan: For immediate fulfilment of personal or business requirements, a gold loan is an ideal solution. HDFC’s gold loan has a hassle-free procedure in place and provides secure storage. They disburse the loan in 45 minutes and offer flexible interest rates.

2) Muthoot Finance Gold Loan: Their portfolio is the largest in India as well as across the globe. Over 2 lakh people avail Muthoot Finance service per day. Within minutes Muthoot Finance generates gold loan for quick funding purpose. They also have in-house gold valuation process before disbursing the loan.

3) SBI Gold Loan: You can acquire SBI’s gold loan by pledging any gold including coins. They provide competitive interest rates and require minimal documentation. Any individual who is 21 years or above can apply for SBI’s gold loan. The loan repayment tenure is 36 months.

4) Manappuram Finance Gold Loan: The kind of power that gold loans provide, you do not require personal or business loans. Manappuram processes the loan within minutes and requires only government-issued identity proofs. Customers can choose from a range of schemes to meet their requirements.

5) Axis Bank Gold Loan: One of the best features of Axis Bank's gold loan is that consumers get to choose their tenure. They process the loan in a day’s time and charge no extra expenses for foreclosure.

Gold loans are affordable in comparison to personal loans. If you require immediate funds, a gold loan will be your best ally. They are processed quickly and are the most reliable loan in the market today.


Author Bio:- Neha Sharma is an aspiring student in the field of finance. She spends her free time reviewing the latest apps introduced into the market. Check out her work as she talks about a gold loan.

Total Views: 12Word Count: 512See All articles From Author

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