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Last updateMon, 23 Jul 2018 5am

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Check these before taking Gold loan

There are lots of financial institutions even in the rural areas to provide God loan services but choosing the right lender is the main problem. There are lots of mistrust financial bodies who commit fake promises.  If you are opting for gold loan for meeting your urgent needs, NBFCs are the best choice for fast processing of your loans. 

4 Golden tips to consider while taking Gold loan 

  • Double check the interest rate from various NBFCs and Banks to take a Gold loan: Interest rates may vary from one financial institution to other, so select the financial company which provides less interest rate.
  • Take only the amount that you can able to repay: Gold loans tenure may be limited to maximum 6 months or 1 year, so it is advisable to take the amount that you can repay otherwise the gold will be auctioned. 
  • Connection with loan amount and gold: Gold will not get the full market value so try to bring extra gold to get your required amount. 
  • Check the repayment options and EMI charges involved: some of the financial institutions offer flexible repayment options or payment at the end of loan tenure while others need repayment of interest and principal as EMI. Be careful while choosing the institutions that provide the best loan repayment terms.

Choose the best gold loan services from UAE Exchange that provides best interest rates with specialized schemes designed as per the requirements of the common populace. 

 

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