Why Should You Take Gold Loans from NBFCs?
Explore the top benefits of gold loans—secure, quick funding options from leading NBFCs. Pledge your gold, check today’s 1 gram gold price, and get the funds you need.
Gold loans have emerged as one of the best financial solutions to fulfil immediate fund requirements. Top non-banking financial companies (NBFCs) offer a wide range of gold loan schemes suiting various customers’ profiles. Gold loans are secured so customers can pledge their gold article as collateral. It is best to check for “one gram gold price today” and know the approximate loan amount.
Here are the top benefits of taking a gold loan: -
Higher Loan-to-Value Ratio
The loan-to-value ratio is the metric that shows the maximum loan amount that can be taken against the pledged gold. Trusted NBFCs have a higher loan-to-value ratio, which means borrowers get a higher loan amount on their gold articles.
Competitive Interest Rates
NBFCs have a robust lending structure. It allows them to offer competitive interest rates to customers. This is why customers opt for their financial solutions.
Flexible Repayment Options
One of the biggest advantages of taking a gold loan from an NBFC is flexibility in loan repayment. Some NBFCs have an interest-only payment option during the initial loan period. It reduces the financial burden on borrowers and gives them time to repay the loan amount.
Lenient Eligibility Criteria
NBFCs have lenient eligibility criteria and minimal paperwork. It enables borrowers to get a gold loan on time. People from different backgrounds can get a gold loan by pledging their gold articles. Most NBFCs allow Indian citizens above the age of 18 years who have valid gold receipts to avail of gold loan financing.
Suggested Read: A Complete Guide About Gold Loan Process And Eligibility
Faster Processing
Top NBFCs have digitised key processes. Borrowers can apply for a gold loan online from the comfort of their home. These NBFCs offer gold loans in a single visit after proper gold verification. Once the gold verification is done, the loan amount is disbursed to the borrower’s savings account.
Gold loans from NBFCs come with attractive features, such as pre and part-payment facilities, gold security, round-the-clock account access, and more. Borrowers can choose their preferred gold loan scheme by comparing different loan offers. Leading NBFCs have online gold loan calculators, helping individuals gauge approximate loan amounts on their gold items.
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