1 / 6

Gold Loan

Gold Loans have many admirers in our expanse because even when they avail a loan in its credit, the asset remains in their possession. Another reason why gold loan is preferred to other loans is the quickness in its processing. Instant gold loans help the customers with immediately meeting their financial concerns.

30074
Download Presentation

Gold Loan

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Gold Loan AMAL UNNI

  2. Introduction • A gold loan is a credit against gold. Under this loan, gold jewellery is taken as security by the lending bank/NBFC. The advance is given to the borrower against this gold as insurance. Also, the interest rate on the gold loan is lower than unsecured loans. • Gold has occupied a special place in the socio-economic milieu of India. It is considered to be an important asset, a hedge against inflation and an immediate source of cash. • In rural areas in India, due to the lack of access to banks the poor continue to invest their savings mainly in gold. Also, there are strong cultural factors at work in India that make gold a desirable and a necessary asset to hold. • The interest rates offered on gold loans are extremely affordable.

  3. Benefits of Gold Loans • Low rates of interest • Easy process • High Loan to Value • No certification of income required • Few documents • Credit score is not considered • Quick procedure • Typically up to 75% of the gold item’s value

  4. Gold Loan V/S Other Loans • Gold loan is a secured loan and the disbursal time is very quick in this type of a loan. Generally, the amount is credited to the borrower’s account within one hours. However, other loan application sanction can take 3 to 7 days • Any person who is above 18 years can apply for the gold loan and there is no minimum income required. However, to apply for a other loan, a salaried employee should have a minimum income of ₹ 25,000. • Gold loans come with minimal processing charges as low as Nil and some lenders charge 0.10%-1% of the loan amount. In other loans, the processing fees go up to 2.50% of loan amount. • Other loans have an option of repayment in the form of EMIs (including interest as well as principal amount), however, in some gold loan schemes lenders allow the borrowers to pay the interest every month, and principal amount can be paid on maturity.

  5. Best Gold Loan Provider Manappuram Finance Ltd is one of the top NBFC with its base in Kerala, named as the largest wealth creator for the year 2019 in the list of ET500 companies with a market capitalization of over `50 billion( Annual report, Manappuram Finance, 2019-20). It is the second-largest gold finance NBFC in India. The Company provides loans against the pledge of used household gold jewelry and extends short-term gold loan primarily to customers who require funds immediately and may not have access to formal credit. Gold Loan Click here for instant gold loan

  6. Conclusion For most Indian households, gold remains the most preferred avenue of investment. Further, the constant rise and fall in gold prices present vivid opportunities for investors to procure the shining metal. In the long run, gold offers a lucrative opportunity of availing a loan. It is fair to conclude that availing loans against gold assets is a more profitable option than availing personal loans.

More Related