4 Reasons Why You Should Take Instant Gold Loan

4 Reasons Why You Should Take an Instant Gold Loan

Still Gold is the most valuable ornament in Indian cultures. We love to give gold as a prestigious gift. Also, our family teaches us to respect gold & keep it in a safe place for the future.  You should use this gold to take an instant gold loan.

It will give you some extra benefits to take a gold loan instead of a personal loan. You may use this loan for your needs.

Let’s talk about 4 reasons why you should take an instant gold loan.

The 4 Reasons Why You Should Take an Instant Gold Loan

1. Minimum Paperwork

If you take a business loan, personal loan, or mortgage loan, you have to provide lots of documents & verification process. It will take a lot of time also. But a gold loan gives you fast approval with a lower document process.

You don’t have to provide huge documents. Most banks give you a gold loan with KYC documents. The following documents keep in hand for the gold loan:

  • Passport Photo
  • Address Proof (Aadhaar Card/ Voter Card / Passport)
  • Identity Prof (Pan Card)

Just take 3 documents to get the instant gold loan.

2. Not Required CIBIL Score

CIBIL score is an important part when you go for an instant loan or personal loan. But the instant gold loan is available with zero credit score. Also, if you have a low credit score like a 670+ score, you may get a gold loan easily.

Your gold jewellery should be standard. That means jewellery that you give to the bank should be pure gold.  Here your CIBIL score doesn’t matter.

3. Cheap Interest Rate

As you know, a gold loan is a secured loan. So, banks will give you the best interest compared to credit card loans or personal loans. Most of the banks are offering a 1% interest rate per month on gold loans. But if you go to government banks, interest will be much lower.

4. Instant Disburse

The gold loan disbursement process is much faster compared to other loans. It will take a maximum of 3 days. You may get up to a 2 crore gold loan against 22-karat gold jewellery. If you need an urgent loan, a gold loan is the best option for you.

Most banks provide gold loans against 75% gold value as per RBI guidelines. With the minimum paperwork with fast disbursement process, gold is the best option for you.

Also Read: TVS Credit Personal Loan

How to Apply for Gold Loan

You can simply apply for a gold loan online. Just choose the lenders & follow the process below:

Step 1: Go to the gold loan section on the website

Step 2: Fill out the application form carefully

Step 3: Select your nearest branch & city

Step 4: Give your KYC details to the lenders

Step 5: Customer representative call you to the nearest branch

Step 6: Go to the branch with gold jewellery

Step 7: Lenders will verify & give you a loan offer

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