Gold has been considered the safest investment, a sentiment by which the majority of Indians live and have thus been investing in gold. Indians invest in beautiful gold jewelry, coins in gold, as it is seen as a symbol of wealth. When in need of funds or capital, you can sell it off quickly as there is no shortage of people willing to buy it. Keep reading if you do not want to sell gold but require funds, opt for a gold loan and avail best gold loan scheme.
Opting for a gold loan from a leading NBFC like Bajaj Finance Limited is an easy way out when strapped for cash in case of an urgent financial requirement. Dire situations can occur at any time, and you might need emergency funds quickly. It is not viable to opt for unsecured loans as interest rates are generally high, so gold finance is an easy and feasible option. Following is a list of why you should go for a gold loan.
Easy to apply
You can easily apply for a gold loan from the comfort of your home. If you want to get the value of the gold evaluated, you can go to the nearest branch of a provider. You need to fill in your details online on the lender’s site.
No need for a high credit score
Unlike any other loan form, you need not submit any documents indicating the credit score to avail of the loan. Only gold is taken in as collateral, and no other documents are necessary. All the struggling people with a low credit score should opt for a gold loan for financing.
Low charges and low fee
There are no hidden charges in gold finances as there are in personal loans. Unlike personal loans, gold loans charge prepayment charges. The gold loan also has no or meager processing fee. Thus making it an attractive choice.
Massive amounts of finance
Most emergencies require a considerable amount of finance, and gold finance is the easiest way to fund them. The threshold limit of the gold finance only depends on ongoing prices of gold in the market and not any other parameter. In other forms of loans, this enormous amount of money will require a lot of time and a plethora of paperwork.
Upon checking the loan’s quality, Bajaj Finserv gold loan processes the amount into your bank account. There is no need to go for multiple rounds of verification, and there is no need to wait for days to avail of the funds.
Flexible repayments and installments
It would help if you understood financial obligations better by using gold loan calculations. The installments are flexible, and you can pay small amounts every month, so a considerable strain does not occur in your budget. Small and easy installments can be paid gradually and spread out during the long tenure. It is the best gold loan advantage.
Secure Storage of Gold
There is no need to have concerns about your asset with Bajaj Finserv. The investment in your home is now with them, and you need to avail of benefits. In case of a misfortune event of burglary or theft, the lender will cover all the costs. So it is entirely safe with the lender until the time you make the total repayments.
Long Loan tenure
You can opt for longer loan tenure to repay the amount. You can extend the loan term up to 3 years and spread the installments into small monthly repayments, so you do not feel its burden on your monthly budget. A gold loan calculator can help in decoding the amount you have to repay and installment structures.
No strings attached on the end-use of funds
The capital raised via loan can be used in any way you please. It becomes your money, and you can do anything with it. The Bajaj Finance gold loan interest rate is among the lowest avail in the market and provides a quick way to raise money or fund emergencies.
A gold loan is highly beneficial in case you need a capital amount instantly without wasting any time. It is a highly secure, safe, and quick way to procure funds. The various pros associated with it are already listed above. Bajaj Finance Limited provides the best gold loan schemes at a very minimal rate as compared to its competitors. Before availing of a gold loan, you can research and compare gold loan interest rates offered by it and other leading private lenders.