Close Menu
JustwebworldJustwebworld
  • Astrology
  • Business & Finance
    • Cryptocurrency
    • Make Money
    • Entrepreneur
    • Brands
    • Companies
    • Personal Finance
      • Banking
      • Insurance
      • Trading and Investing
  • Tech
    • Computing
    • Cybersecurity
    • Electronics
    • Android
    • Apple
    • Gadgets
    • Social Media
    • Mobile Apps
    • Softwares
  • Education
    • Vocabulary
    • Abbreviations
    • General Knowledge
    • Writing & Translation
  • Lifestyle
    • Beauty & Cosmetics
    • Fashion & Style
    • Furniture & Decor
    • Luxury
    • People & Relationships
    • Pets and Animals
    • Shopping
    • Parenting
    • Gardening
    • Birthdays
  • Health
  • Travel
  • Auto
  • Gaming
  • Food
  • Entertainment
  • Sports
Facebook X (Twitter) Instagram
Tuesday, May 20
  • About
  • Contact Us
  • Advertise With Us
  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
JustwebworldJustwebworld
  • Astrology
  • Business & Finance
    • Cryptocurrency
    • Make Money
    • Entrepreneur
    • Brands
    • Companies
    • Personal Finance
      • Banking
      • Insurance
      • Trading and Investing
  • Tech
    • Computing
    • Cybersecurity
    • Electronics
    • Android
    • Apple
    • Gadgets
    • Social Media
    • Mobile Apps
    • Softwares
  • Education
    • Vocabulary
    • Abbreviations
    • General Knowledge
    • Writing & Translation
  • Lifestyle
    • Beauty & Cosmetics
    • Fashion & Style
    • Furniture & Decor
    • Luxury
    • People & Relationships
    • Pets and Animals
    • Shopping
    • Parenting
    • Gardening
    • Birthdays
  • Health
  • Travel
  • Auto
  • Gaming
  • Food
  • Entertainment
  • Sports
JustwebworldJustwebworld
Home » Business & Finance » Personal Finance

An Insight About Online Gold Loans

Sophia BrittBy Sophia Britt Personal Finance
Facebook Twitter LinkedIn Telegram Pinterest Reddit Email WhatsApp
Follow Us
WhatsApp Telegram
Share
Facebook Twitter LinkedIn Pinterest Reddit Telegram WhatsApp

Gold is an asset which has always helped individuals when they face money shortages. The prices of gold keep on fluctuating and most of the times increase exponentially, this is one of the biggest reasons why people prefer taking gold loans when in need of money.

People pledge their self-owned gold as a collateral to financial institutions in return of which they receive the equivalent amount of money which is called the Loan to Value or LTV. When you avail a loan by vowing your valuable gold as a collateral it is called a Gold Loan.

Online Gold Loans

The interest rates on the gold loans are relatively lesser than that on other loans, in addition when you pledge your gold to a financial institution, they are bound to keep your gold safe.

If you are willing to avail a gold loan you must know the current prices of gold and the interest rates offered by different financial institutions as well. Gold loan interest rate is a matter of dynamic change. Market fluctuations can impact your EMI and interest rates heavily.

Any financial institution grants a loan to a certain individual for a certain specific period of time which is called the tenure of the loan. The loanee is thereby bound to repay the total amount of the loan granted to him within that specified tenure.

The failure to comply or repay the loan within the time would bring about certain consequences. But worry not, for you have kept your gold as the collateral, the financial institution would not care to bother you much and retrieve the remaining amount of the loan by selling off your gold.

Also Read: 5 Hacks To Invest In Share Market 5 Hacks To Invest In Share Market

Of course, you would lose your gold but for what it is worth, you would not have to witness any dire consequences of your failure to repay the loan.

There are different financial institutions like Banks and Non-Banking Financial Companies or the NBFCs which offer gold loans at different interest rates. The interest rate on gold loans varies from institution to institution.

Change in the process of granting a loan

Back in the olden times people used to take loans from unauthorised individuals who would charge hefty interest rates on the loan amounts and thence, the borrowers fell into debt traps.

Then, came banks, people started reaching out to the banks for loans. Gradually people understood that taking keeping your gold as a collateral is a way more profitable way to avail a loan than pledging any other asset as a collateral.

The problem with gold loans was that, in order to avail a gold loan, you would have to visit a certain bank, wait in a queue and then wait for verification of your gold, even after that you would have to wait a while longer in order to receive the Loan to Value.

Well worry no more, now that everything is getting digitised, the process of availing a gold loan has also been digitised now. NBFCs offer a more simplified and convenient method for the loan approval procedure.

You would have to register online on the website of a certain NBFC from which you would want to avail a gold loan. On successful registration you would be given a time slot of your choice and convenience to choose from and then the financial institution would send an executive from their nearest branch to your doorstep according to the time slot you have chosen.

Also Read: Best and Worst Financial Decisions You’ve Ever Made Best and Worst Financial Decisions You’ve Ever Made

You would then be asked by the executive to present your self-owned gold for verification. When the gold turns out to be pure and real you would then be eligible to avail the loan. You would be told about the amount which you can avail against your collateral, the amount is decided with reference to the real time prices of gold.

You would have to do some signatures here and there and then by the end of the procedure the Loan to Value amount would be credited directly into your bank account. Only then do the executives leave your doorstep. They then directly lock the gold in the vaults of their banking partners.

You are supposed to repay the loan in due time and an equated monthly installment or emi is further fixed which you are bound to pay the financial institutions on a monthly basis.

You can calculate the emi by yourself using a gold loan emi calculator available online. On successful repayment of the loan amount, the loan is disbursed and the gold returned to the owner.

Rupeek is one of the best known and certified NBFC which offer good value for your gold. They provide a 30 minutes hassle free and convenient procedure by the end of which you receive the loan amount directly in your bank account. There are various other benefits that Rupeek has to offer which distinguishes it from other NBFCs.

Follow on WhatsApp Follow on Telegram
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram WhatsApp Copy Link
Previous ArticleKeeping On Top Of Your Schedule: 5 Tips
Next Article The Best Back-End Frameworks Suitable for Web Development
Sophia Britt

Sophia Britt is a versatile content writer with a talent for creating engaging and informative content across various topics. Her writing is clear, compelling, and designed to connect with readers. Whether it's tech, business, lifestyle, or travel, she knows how to make words work. Always curious and creative, Sophia delivers content that stands out.

Related Posts

Best Alternatives to Balance Transfers | Smart Ways to Pay Off Debt Faster!

Are Tax Saving FDs Worth the Lock-In Period?

How to Use a Current Account to Manage Cash Flow

Easy Zulily Credit Card Login: Manage Bills, Rewards & More

Top Myths About Mutual Funds In India: Separating Fact From Fiction

Are The Expensive Premiums Of Senior Citizen Health Insurance Plans Worth It?

Leave A Reply

Categories
Archives

Jose Alvarado NBA 2025: Inspiring Journey, Impressive Stats, Big Contract & Puerto Rico Pride

Who is Hazel Brugger? Top Swiss Comedian, Eurovision Host & Comedy Queen of Europe

Luke Kornet Full Player Profile | Age, Height, Net Worth, Career Stats 2025

Who Is Brent Faiyaz? Age, Songs, Albums, Net Worth & Tour 2025

FaZe Rug Net Worth, Age, Girlfriend, House & Career | Must Read

Happy Father’s Day Wishes & Quotes | Heartfelt Messages, Sayings & Captions for Dad 2025

Why Stewart Vickers Is the Best SEO Expert in the World

Diljit Dosanjh : Latest Songs, Movies, Net Worth, Concerts & Full Biography

Katie Ledecky: Olympic Gold Queen | Records, Career, Net Worth & More!

Best New Clinic Opening Wishes | Heartfelt Messages, Quotes & Blessings to Celebrate Success

DMCA.com Protection Status
Quick Links
Age Calculator
Angel Number Calculator
Case Converter
Sudoku Online
Word Counter
Love Calculator
Useful Links
Number to Words
Period Calculator
Yes-No Picker Wheel
Demon Name Generator
Kingdom Name Generator
Harry Potter Name Generator
Helpful Resources
Colors Name In English
Best Computer Brands
WhatsApp Web
Most Beautiful Beaches
Tesla Cybertruck Review
Richest Actors in the World
Explore More
Good Morning Handsome
Best English Songs of All Time
Cricket World Cup Winners
Ways to Say Rest In Peace
Britain’s Got Talent Winners
American Idol Winners
Facebook X (Twitter) Instagram Pinterest YouTube Tumblr LinkedIn WhatsApp Telegram Threads RSS
  • About
  • Contact Us
  • Advertise With Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Web Stories
Copyright © 2012-2025. JustWebWorld - All Rights Reserved. | Sitemap

Type above and press Enter to search. Press Esc to cancel.

×

👇 Bonus Reads for You 🎁

Myths About Mutual Funds In India
Top Myths About Mutual Funds In India: Separating Fact From Fiction
What is PRAN Card ?
How to Apply for PRAN Card Online
Indigo Credit Card
Indigo Credit Card Login, Payment & Customer Service
Debt Refinancing
Some Options for Refinansiering Av Gjeld Or Refinancing of Debt