Gold Loan vs Personal Loan!!
One can easily avail loan against gold, which is also quite common in most part of the country but still people prefer personal loan. Availing loan against gold is a far better option than availing personal loan.
Lets have a quick look on how Loan Against Gold is better than a personal loan.
Have a look at the table below where we have compared Gold Loan and Personal Loan on multiple parameters
|
| Gold Loan | Personal Loan |
| Interest Rates | 10% to 16% | 16% to 22% (based on credit rating) |
| Disbursement time | 30 mins to 1 hour | 3 days to a week |
| Processing fees | Nil to 1% | 2% to 3% |
| Pre-payment charges | Nil to 1% | At least 1% of the balance loan amount |
| Income proof | Not required | Required |
| Documents | ID & Address proof | ID, Address, Bank statement, salary slips, ITR, etc |
As you can see, gold loan is a good alternative to personal loan. A financial institute is always comfortable lending against a security (collateral loans) when compared with a loan application with no security (personal loans). That's why you can get loan against gold in such short time. It can help you raise funds quickly to pay liabilities where you are paying high interest or for medical emergencies or for some important expenses such as your child's education or even for your business via overdraft facility which is offer by many banks.
We will talk about the different schemes available for Gold Loan in our next article.
If you want to know more about gold loan then just give us a missed call on +91 913 684 4375 or visit @ www.golduno.com.
We, at Golduno will help you to get the best deals on Gold Loan via financial institutes PAN India. Our Gold Loan experts will walk you through the process and will be available to assist you during and after the process.
GoldUno for Gold Loan – Simple, Safe & Quick!!
