Loans against gold are considered the most suitable secured loan options that an applicant can choose in times of need. By depositing the gold ornaments/jewellery/coins, the applicant can get the necessary loan amount. The lender determines the gold loan amount by checking the quality and quantity of the pledged gold and disburses the loan amount, which is around 75% of the market value of the gold submitted. In a big country like India, there are bound to be many options to choose from for taking a gold loan. Several banks and Non-Banking Financial Companies (NBFCs) offer gold loans, and their gold loan amount and interest rates are different.
Read More