gold loan Surat

Lately, these days, many banks are actively participating in giving gold loans. A gold loan is a loan you can raise against gold. You can keep the gold as collateral and instantly get the amount in your bank account. The gold purity will determine the amount you will get as a gold loan. It is important for you to get a genuine gold loan service provider. Getting the gold loan is way too easy if we compare it with other property, personal or other loans. You can easily get the gold loan Surat and other places online and offline.

You need to find the right gold loan service provider online and visit their website portal. After that, you should fill in all your personal details. After submitting the details, you will get a callback. Then they will ask you your requirements and look if your eligibility meets or not. If yes, they will visit your place and verify all the documents and purity of the gold. Once it is all done, they will instantly sanction the gold loan and credit the gold loan amount in your gold loan. Also, it is important for you to ask the representative about all the terms and conditions. 

Ask them about the repayment options, tenure, interest rate, and other related things. It is most preferable to other loans because it does not ask for credit history and has very less or no processing fees.

If you are interested in getting a gold loan, make sure to keep the following things in your mind:

  • Tenure- It is very important for you to ask about the tenure of the gold loan. Usually, it ranges between 6 months to 2 years. It is important so that you can check your repayment capacity before opting for the gold loan. As if you will miss the EMIs, it will impact your credit score.
  • Repayment options- It is very much important to ask your lender about the various repayment options. Lenders will provide you with the repayment options like upfront interest, bullet repayment, regular EMIs, overdraft facilities. So it is important to check what kind of repayment method you want to opt for while choosing a suitable lender for you.
  • Rate of interest- It is important to select that lender which offers the gold loan at less interest rate. This will reduce the repayment amount. So make sure to ask the interest rate first so that you get the affordable interest rates. 
  • Loan amount- It is almost clear that you will never get the full amount of the gold pledged by you. As per the RBI guidelines, you will get 75% of the amount on the value of gold pledged.

So above are some of the points you should consider while taking the gold loan. You can contact ‘Ruptok’ to avail the best gold loan offers. Their experts will guide you with the best loans depending upon your preferences.