Fund Your Urgent Money Requirements With Gold!

Life's uncertainties often give rise to uncomfortable situations when money is needed very urgently, and usually, this happens when a person is short of funds. These are times when gold comes in handy and be of immense use instead of lying locked up in a cupboard.

Striking feature:

While availing a gold loan, a borrower need not have a source of income. This can be of great help to homemakers who do not earn, or to those who have poor credit histories to be eligible for loans.

No hassles:

Gold loans are instant and can be availed of within 30 minutes of application, with no cumbersome documentation needed and no approval required. Such loans are usually offered for up to a year's duration but can be foreclosed whenever the borrower wishes to. An interest of up to 12% can be levied by banks on gold loans and the borrower has to pay interest as mentioned in the agreement. It can be paid on a monthly or a quarterly basis, but there is no need to pay EMIs. If interests are not paid on time, the bank may charge about 2% as penalty.


Almost all banks in India readily offer loans in lieu of gold, more so because it is considered a safe investment given the skyrocketing prices of the yellow metal. Most lenders offer up to 60% of the value of the gold as loan.
To begin the process, a person needs just to visit his bank, inform it of his decision, following which he will be handed out a simple form to fill up while the lender evaluates his gold's worth.

The evaluation is done by a jeweler appointed by the bank, the charge for which has to be paid by the borrower. The borrower will then have to provide a stamp paper to the bank for mortgaging the jewelry. The bank credits the borrower's account with the loan amount and the borrower is free to withdraw the amount for meeting his urgent needs.

The process may not be outright simple, but the borrower is also assured that his jewelry is in safe hands.

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