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How to Manage The Expenses of an Emergency With a Gold Loan

  • Highlights

  • Your gold jewellery can help you get the funds you need

  • Application for gold loan is easy and hassle-free

  • You only need to bring your gold jewellery to our branch and complete your application

  • Borrow gold loan at attractive interest rates

In recent times, the pandemic has given rise to urgent medical expenses, job losses and losses in business, making life difficult for a large population. Gold loan is an easy and quick way of getting funds to meet the expenses of any kind of emergency or urgent business requirements.

One Loan, Many Solutions!

There are various ways to deal with such emergencies. However, most of the solutions available have numerous terms and conditions attached to them that makes them a difficult proposition. One of the fastest and easiest ways out among all the options is using the idle gold in one’s possession and getting a loan on that.

A gold loan is a fund that a borrower gets from a lender in exchange for gold. This gold can be in many forms such as Jewellery, ornaments, bricks, biscuits, coins and so on. The requirements vary from one lending organisation to other, however, in most cases, all kinds of gold Jewellery are accepted that can be easily tested for its purity and stored safely. According to RBI guidelines regarding Gold Loans, a lender is allowed to give up to 90% of the gold’s market value to the borrower as the remaining amount will be a safeguard in case of the gold value fluctuation or if the borrower is a defaulter.

Easy Process, Quick Disbursal

Getting a gold loan is one of the easiest of all loans as it is a secured loan. Unlike a personal loan or a home loan, there is no need for the borrower to have a high credit score to avail a gold loan. The easy process and comparatively fewer checks lead to quick disbursals.

Freedom of Usage

In most cases, the lender is not concerned about how the funds will be used by the borrower. This makes the gold loan a worthwhile option in cases where people have varied end uses such as house repair, new house construction, purchasing a new house/flat, child’s marriage, child’s education, health emergencies and many more.

In addition to that, Gold Loan is also one of the cheapest loans available. Gold loan interest rate is often lower compared to secured loans such as Personal Loan, Home Loan, Education Loan etc.

Bajaj Finance is one of the leading NBFCs in India with the most diversified product lines. Its gold loan offers features that make it one of the most attractive in the Indian market.

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