Kartnataka
  • February 11, 2023
  • 2057 Views
  • 8 Likes

Doorstep Gold Loans: Everything You Need to Know

Gold Loan

We are currently living in what has been aptly termed the digital era. In today’s time, where almost everything is available online, people don’t prefer to step outside of their houses. From grocery shopping to real estate viewing, doctor consultations to banking, you can do everything from the comfort of your home. Although India was already moving very rapidly towards digital transformation, the COVID-19 pandemic worked as a catalyst and sped things up. Simply put, the entire pandemic situation made it necessary for everyone to take the digital route, be it the education sector, banking industry, or something else. Now, all you need is an internet connection and a device (mobile, laptop, tablet, etc.), and you can do everything with a few simple clicks.

Amidst all these things, ‘doorstep gold loan’ has emerged as a new concept and gained a significant amount of popularity in India. However, the option of gold loans has been around for ages. People consider it not only one of the fastest and easiest ways to arrange funds in an emergency but a reliable option as well. The reason behind this is simple: all financial institutions (banks and NBFCs both) provide instant gold loans with minimal documentation. The best thing is that your ornaments are kept in a secure vault for the entire duration, so you don’t have to worry about their security either.

Now, Muthoot Finance has come up with something even faster and more convenient in the form of an at-home gold loan. Similar to traditional gold loans, the Gold Loan at Home facility by Muthoot Finance entails doorstep gold loans that can be availed by pledging gold ornaments. Once you repay the loan amount, you will get your pledged assets back. They are available at competitive interest rates and come with flexible loan repayment options. You can choose the tenure as per your convenience and take the Monthly Interest Payment route for the repayment of your gold loan.

Let’s dive deeper and have a closer look at this new and popular financing option:

What is a Doorstep Gold Loan?

Generally, when you want to avail a gold loan, you need to visit the physical branch of the particular bank or NBFC. At times, it requires more than one visit to complete the paperwork and deposit the gold ornaments before the loan finally gets sanctioned. This is undoubtedly faster than other popular financing options such as personal loans, credit cards, etc., but it still takes a lot of time. A doorstep gold loan, on the other hand, is much faster and completely hassle-free.

As the name implies, this is a financing option that allows you to borrow some money by pledging your gold assets. These assets can be anything, including gold coins, bars, jewellery, etc. The only difference is that the applicant doesn’t need to go anywhere to avail the loan. Simply Register for a Home Visit and the process will be initiated. In short, at-home gold loans are a customer-centric financing option.

Similar to conventional ones, doorstep gold loans are also available at lower interest rates and come with flexible repayment options. You can choose to repay the loan amount using your preferred mode of payment. They also come with pre- and part-payment options. This means conforming to the monthly repayment schedule is not necessary, and you can make partial payments as and when you want. Other than this, these loans have a part-release facility as well, which means you can get back part of your gold assets before the loan is entirely paid.

Benefits

Here are some benefits of availing a doorstep gold loan from Muthoot Finance:

  • Convenience A doorstep gold loan is an extremely convenient way of arranging funds to get over a temporary financial crisis. All you need to do is fill out an application form and schedule a home visit as per your convenience. Once you get your gold assets valued, your loan gets sanctioned in no time.
  • No Hidden Charges Doorstep gold loans come with no additional charges. You only have to pay the interest applicable to the loan amount you choose. There are no hidden charges, such as a processing fee or something else.
  • Quick Disbursal The good thing about availing an at-home gold loan is the quick disbursal process. We offer several loan disbursement options, including instant cash, a pre-paid card, or direct online credit. You can select your preferred mode based on your needs.
  • Security When you pledge your gold assets to avail a doorstep gold loan, you can rest assured about the safety of those ornaments. When you opt for Gold Loan at Home service from Muthoot Finance, the company ensures that only their own employees reach your home for gold loan evaluation and to complete the formalities. Moreover, you can be assured that your precious ornaments will be kept at a Muthoot Finance branch that is near your home. All Muthoot Finance branches have strong and secure vaults and they are reinforced with a world class 7 layer security system. In case of theft, you will not have to bear any losses as Muthoot Finance insures your pledged gold.
  • Flexible Repayment The most important benefit of availing a doorstep gold loan is flexible repayment options. There are several loan tenure options available for different loan schemes. With Gold Loan at Home by Muthoot Finance, you can pay your gold loan in several ways. You have options like Muthoot Online, PhonePe, Google Pay, PayTM, WhatsApp Pay, etc. to make an online payment for your gold loan.

How Does It Work?

Here are the 3 simple steps that you need to follow in order to obtain a doorstep gold loan: –

  1. Visit our website and Request for a Loan.
  2. Based on the time you have chosen, our own employees will visit your home to evaluate the gold.
  3. Once your loan application gets completed and verified, you will get the sanctioned loan amount directly into your bank account.

You can also get a detailed explanation about the loan tenure, your preferred mode for loan amount disbursal, loan repayment schedule, etc.

With Gold Loan at Home by Muthoot Finance, you can avail a gold loan from the comfort of your home. You can use the Muthoot gold loan calculator to determine your eligibility and check the applicable rate of interest. Register for a home visit today.

Leave a Comment

    Related Posts