- Published: 08 September 2016
- Hits: 1672
Indian women are fond of gold ornaments compared to the women of other nations. It is very common to see newlywed bride decked with gold, more than what she can wear almost breaking her neck. Rarity, usefulness and desirability adds heavy demand for this worthiest tangible asset making it loved by all. Apart from keeping your gold as a dead asset utilize its worth at the times of your urgency by taking loan out of it or making it as a wise investment.
- Purpose and tenure of loan:
You may be in an urge for taking gold loan for meeting various needs in your life. Always remember that Gold Loans are usually for short term and hence you have to think whether you are capable of repaying the same during the specified term, or else it will be taken away by the lender.
- Interest rates and other charges
Generally while comparing with other types of loans, gold loan is having higher rate of interest. You may be charged certain processing fees, prepayment charges, etc. It is always advisable to analyze other sources of loans, and if not then take any gold loan by considering its repayment options and tenure specified earlier with an eye on the interest rate as well.
- Loan amount
You should always be alert about certain lenders who may not give a fair value for your gold as loan. Be vigilant and know the standardized rules for valuation of gold being followed by the lenders before availing loan from them.
- Understand repayment terms
You need to make enquiry about the repayment structure and policies of different lenders as it varies from time to time and person to person.
- Analyze repayment terms
The nature of repayment modes or structure may differ depending on the lenders. Certain lenders may asked you to pay the principal at the end of tenure, while others may ask you to make payment of both principal and interest even during the period of loan.
All you have to do is make thorough enquiries about the details for easy accessibility of affordable gold loans before you finalize your lender.
Key benefits offered by Gold loan to its borrowers
- Assured with highest security
- Reduced procedures for documentation & verification
- Flexible repayment options
- Instant supporter for immediate requirements
- Safe custody of valuables
- Ready money options
Why to worry about your urgent requirement when you have enough jewellery to use?
An exclusive 4 paise interest scheme on gold loan launched by UAE Exchange India, the renowned financial institution for the loyal customers in this special festive season. Customers can avail gold loan service at 4 paisa interest during the offer period from any branches of UAE Exchange India.
Get hassle free gold loan services along with quick sanction, disbursal, easy documentation and easy repayment options to make your Onam, Ganesh Chaturthi, Diwali and Navratri more colourful.