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Last updateSat, 16 Jun 2018 7am

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Sudden surge for gold loan in recent years

Gold loan industry has witnessed a dramatic rise in the recent years due to the easy availability of versatile schemes with higher value for the asset. Nowadays NBFC’S are the customers first preference in pledging their valuable asset because of the technologies like mobile apps used for best interest rates, easy processing, EMI payment options and status update.

Gold loan inclusive of convenient and security has elevated the gold pawning business to be the most reliant financial service for all urgent needs.

Let’s have a look at the online gold loan benefits

  • Maximum value for Gold with total security
  • Fast processing
  • Flexible repayment options
  • Various Gold loan schemes

Gold loan benefits to the lenders

  • Low tenure gold loan avoids the risk of rapid gold price changing: - Low tenure in gold loan is the relaxing factor for the borrower to completely repay their loan easily by paying at easy intervals.
  • Most secured collateral for loan:- This will surely be a benefiting factor for the customers to pledge their idle gold at home or lockers and also to meet their needs without providing the locker charges.
  • Increasing demand over the years:- Demand increases because of the introduction of technologies  in accessing fast cash through Gold pawning

Increased demand for the yellow metals and gold loan demand

Over the years, a strong inclination of Indian populace towards the yellow metal has been perceived with a drastic drift in the gold loan portfolio. Indians especially the south Indians hold high volume of gold thus gain in the prices of this liquid asset has significantly impacted the Gold loan portfolio. Accessibility of gold loan with flexible repayment options and lower interest rates also increased the demand for gold loan to an extent.

As a leading NBFC and the trusted brand in providing gold loan for about 2 decades, UAE Exchange India has quoted a steady growth of the gold loan portfolio as compared to the previous years. The company is expected to grow in the forthcoming years because of the improved and digitized gold loan services being provided to the common populace. 

Digitized Gold loan service bestows affordable interest rates and helps the deprived section of the nation to meet their urgent requirements with their own asset. 

 

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