For decades, people in India have been investing in Gold as a trusted investment instrument. Whether in coins, jewellery, or other forms, Gold is the most liquid asset instrument you can support. You can find gold buyers anywhere. When you need to raise capital, you can quickly sell it off. However, if you do not wish to sell your Gold, there is a way to procure funds.
Financial emergencies may happen anytime, and you would need to gather cash urgently to tackle them. Taking a personal loan can prove costly due to high-interest rates, and thus opting for gold finance is your only feasible option. Gold loan by Muthoot FinCorp is the quickest way to get the required credit amount safely and securely. Here are nine reasons that prove gold loans are undeniably the best bet for your financial requirements.
Top Nine Ways Gold loan is the Best Bet for any Financial Requirement
1. Simplified Application Process:
Applying for a gold loan is simple. You can apply through your lender’s website within minutes and submit the details from the comfort of your home. You can also check in to your nearest branch of gold loan provider and get your Gold evaluated.
2. Credit Score Not Necessary:
Unlike other loan options, credit score plays a less important role in gold loans. As you submit your Gold as collateral, you need not provide additional documents to avail of the loan. So, if you currently have a shallow credit score, you should opt for a gold loan to get your application approved.
3. Minimal Fee and Charges:
Gold loans are better than personal loans as they do not levy prepayment charges and incur minimal or no processing fee. So, you won’t have to pay hidden charges to avail the benefits of gold finance.
4. Funding Large Amounts:
A gold loan is among the quickest ways to arrange a large sum of money to invest in business or fund emergencies. The maximum amount sanctioned by the lender depends on the current market price of Gold. Any other loan option with such a considerable amount would require plenty of paperwork and several rounds of verification.
5. Quick Disbursal:
Muthoot gold loan is processed as soon as the quality of the loan is verified. You get the amount disbursed in cash or your bank account on successful verification. The process does not require you to wait for days.
6. Easy Repayments with Installments:
You can make small repayments over the term of your loan with monthly installments so that you do feel the strain of large repayments. With seamless installments, you can repay slowly, and become debt free after the loan tenure. You can use a gold loan interest calculator to understand your financial obligations better.
7. Gold Storage Safety:
You can rest assured that your Gold stays in safe hands by opting for a gold loan with Muthoot FinCorp. It is like putting your idle asset to work. The lenders ensure gold safety, and in any case of theft, your lender is liable to make full payment for your losses. So, using a gold loan, you can secure your assets for the time you make repayments.
8. Long Repayment Tenure:
You can extend the term of a gold loan to make it easier for paying off the loan. You can opt for up to 36 months to make repayments in small monthly installments. It will ensure that the loan liability does not affect your monthly expenses. You can check out a gold loan interest calculator to verify the amount you have to repay.
9. No Restriction on Credit Usage:
Gold finance does not restrict the use of capital raised. You are free to spend or invest your money wherever you want. The Muthoot gold loan rates are the most reasonable among renowned lenders, and you can use the capital in an emergency without any hesitation.
Gold loans do offer multiple benefits to applicants. It allows you to have the required credit right on the spot and use the capital raised as you wish. The various benefits associated with it are listed above. The Muthoot gold loan rates are lower than most of the other private lenders. You can check out the gold loan interest rates online and compare them with peers before applying for the loan.
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