Kartnataka
  • February 10, 2023
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Gold Loan at Home – Pledge Your Gold with 100% Safety

Gold Loan

Gold is seen as an important form of investment by Indians. Most Indian households accumulate tangible quantities of gold over a certain period of time in the form of jewellery. Historically, gold is an asset that has always stood the test of time. Even in challenging economic scenarios, gold continues to retain its value and many a times sees appreciation in value as well. Gold is seen as a source of financial support in phases of financial instability and can also be used to fund education, business ventures or pay back debts. As long as you have a viable amount of gold, there’s always a strong sense of security.

Gold loans are another mode by which you can put your gold to good use. As a financial product, it has proven to be far more beneficial in comparison to other forms of loan in the market. Muthoot Finance is a name synonymous with gold loans, offering several schemes with attractive gold loan interest rates.

Muthoot Finance offers a gold loan at the convenience of your home. The facility has been launched keeping the recent pandemic in mind. This enables customers to avail gold loans at home as per their convenience. Muthoot Finance’s own employees will visit your home to check the gold, process the loan and the loan amount will be credited into your account.

Along with a simplified process of applying for a gold loan and the convenience of availing a gold loan online, Muthoot Finance also emphasizes on the safety of the gold pledged as collateral for these loans.

Safety Locker

We understand the importance of ensuring the safety of your gold. That is why from the time of evaluation and transit to storing it for safekeeping, utmost attention is paid to it all. As an added step for customers’ assurance, Muthoot Finance offers safety lockers to its customers at the time of availing gold loans. Unlike a bank locker, a gold safety locker is much more convenient and hassle-free. Here is a list of benefits of a gold safety locker:

  • No additional charges for the gold safety locker.
  • You don’t need any additional documentation for the gold safety locker.
  • Gold safety lockers are insured by Muthoot Finance.
  • If you avail a gold loan from Muthoot Finance you are eligible for a Gold safety locker.

Things to Keep in Mind When Applying for a Gold Loan

There are plenty of gold loan companies offering gold loans. Hence, it is important to do some research before you go ahead and apply for a gold loan per gram. Here is a list of things you need to keep in mind when applying for a loan against gold: –

Bank or NBFC

There are plenty of lenders offering gold loans to people. However, non-banking financial companies (NBFC) are the more ideal option for gold loans. That’s because most banks charge a processing fee for a gold loan. Muthoot Finance, on the other hand, does not charge any processing fee for gold loans. As India’s No. 1 Most Trusted Financial Services brand, we not only adhere to the strict guidelines laid down by the Reserve Bank of India but also offer a plethora of benefits with our gold loan at home service. These include: –

  • Maximum Value for your pledged gold
  • Wide Range of Gold Loan Schemes
  • Gold Loan in Just 1 Visit
  • Free Insurance of Your Gold
  • 24×7 Access to your gold loan account

and many more.

Valuation of Gold

The higher the quality of gold the higher will be the loan amount for a gold loan. The loan amount is directly related to the purity of the gold. The minimum purity of gold eligible for a loan amount is 18 karat gold. If you possess certain gold items that contain precious stones and gems, then the value of those gems will not be taken into consideration. Gold coins are considered to be a lot more preferable when it comes to applying for a gold loan.

Interest Rate

While availing a loan against gold, the rate of interest completely depends on the lender. Under the Gold Loan at Home facility by Muthoot Finance, we consider several factors such as LTV ratio, loan tenure, and loan amount to determine the Gold loan rate of interest that we offer.

Tenure

Gold loans at Muthoot Finance usually have a short tenure of 360 days. Longer tenure means higher gold loan interest rates. Hence, it is important to carefully plan the amount of time it will take for you to pay back the loan before applying for a gold loan.

Repayment Options

The best part about a gold loan by Muthoot Finance is that it offers multiple repayment options such as Equated Monthly Instalments (Monthly Interest Payment), Bullet payment and Interest Now, Principal Later mode which lets you pay off the loan amount with ease.

Being one of the top gold loan companies in India, the Gold Loan at Home facility by Muthoot Finance just adds to the convenience of the customers looking for gold loans. The whole process of applying for a gold loan has been made simple, so much so that it just takes 3 steps to avail a doorstep loan. Check out the array of doorstep schemes we offer and avail the best gold loan as per your capital requirements and preferences.

RELATED BLOGS:

Is Your Gold Safe When You Take a Gold Loan

Muthoot Finance – A Complete Guide on Gold Loan at Home

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