Importance of Gold in India
Gold is a very precious asset as it can be used in times of financial crisis. Gold has always been an important part of indian households. The Gold Loan Per Gram keeps changing depending on the market conditions. Gold has an auspicious sentiment related to it in India. It has high perceived value and a high emotional value related to it. Indians are the largest consumers of gold. Gold has several advantages. Many Indians like to invest in gold due to following reasons:-
Gold is considered an equivalent for liquid cash:- Gold is considered highly portable as an asset. It can be easily used to avail cash during financial emergencies. One can easily pledge gold against loan to any bank or non-banking financing companies(NBFCs). It is one of the most valuable investments. Investing in gold can ensure future loans. Many people like to invest in gold as it can be used as liquid cash.
Gold is considered as a Status Symbol: In Indian societies gold is considered as an important status symbol. At weddings people like to gift gold to the bride. In the festive season also people prefer gifting gold to each other. Gold is considered as lucky on auspicious occasions.
Gold is considered as a gift item:- It is an important gifting item in Indian societies. People like to gift gold to each other. Gold is considered precious and worthy across all cultures and times. Gold is given as a gift in weddings, festivals and other special occasions. Many people around the country gift each other gold jewelleries.
Gold has great religious significance:- Gold is considered as the most precious metal in Indian society. It is considered as the symbol of the Hindu Goddess Lakshmi. It is highly auspicious. Many people around the country buy gold jewelleries and coins during festive times. It is one of the purest forms of metal.
Great value as Heirloom:- Gold is used as heirlooms in Indian families. It is passed down from one generation to the other. People love to invest in gold. Gold is an important part in Indian households.
Great Ornamental Value:- The ornamental value of gold is quite high. All ages like wearing gold. Women as well as men wear gold in India. It is preferred by everyone in India. It is always in trend and never goes out of fashion. People buy gold every now and then. The ornamental value of gold can never be decreased.
In the above article the importance of gold is mentioned. Gold loans can be easily applied from the banks and non-banking financing companies(NBFCs). An applicant can easily apply for a gold loan at Sbi. Applying for a gold loan at Sbi requires minimal documentation. The interest rate depends on the loan amount availed. The Gold Loan Per Gram in SBI keeps changing depending upon the market conditions. Sbi provides a high LTV on gold loans. The documents required for applying at Sbi are Aadhar Card, Valid Driving License, Valid Passport, Voter’s ID Card, Salary slip, income tax return documents, employment proof, bank statements, income proof and other documents. For more information regarding gold loan and various schemes offered on gold loan an applicant is requested to check the online website or app of the bank.
Conclusion:
Gold has sentimental value in Indian societies. Many people around the country like investing in gold. It is a valuable asset in difficult situations. The importance of gold can never decrease in Indian societies. Indians are one of the highest consumers of gold. Gold can easily be used as a security against loans. Gold loan is the most preferred loan in India in times of financial emergencies.
