-What is the interest rate you are getting
-What is the paperwork required for loan processing
So what should you do to tide over such unforeseen expenses? Well, the answer to that lies within our homes and lockers i.e. the gold articles we own. Getting a gold loan from an NBFC is not only expeditious but also a lot more sensible in terms of the nature of the loan and the terms of repayment.
Gold investments are safe, and so is the act of pledging your gold for taking a loan. Being one of the most preferred types of loans, gold loans offer tangibly higher loan to value (LTV) which can be useful in a lot of cases. Further, gold loan schemes are devised in such a manner that repayment is easy and doesn’t put any strain on the borrower.
At the time of getting a gold loan to tide over a cash crunch, many NBFCs provide gold loans. It is also important to note that they provide a wide range of repayment plans from which you can choose. It allows you to ensure that your personal finances are not affected at the time of repaying the gold loan amount.