Gold Loans triumph over Gold Loans triumph over Personal LoansPersonal Loans

www.muthootfincorp.comwww.muthootfincorp.com

When in urgent need for liquidity many When in urgent need for liquidity many options are considered- borrowing from options are considered- borrowing from friends or relatives, approaching a bank or friends or relatives, approaching a bank or financial institution like an NBFC, some financial institution like an NBFC, some even consider local money lenders. even consider local money lenders.

Personal loans were the hot favourite of Personal loans were the hot favourite of yesteryears, however, these days; most yesteryears, however, these days; most popular loans are gold loans. Gold loans popular loans are gold loans. Gold loans are fast becoming the order of the day. are fast becoming the order of the day.

Gold loans are loans against your gold; Gold loans are loans against your gold; which is used as collateral. Nominal rates which is used as collateral. Nominal rates of interest and easy documentation make of interest and easy documentation make gold loans an attractive option. gold loans an attractive option.

Almost 90% of the value of your gold can Almost 90% of the value of your gold can be availed of as a loan. Gold in the form of be availed of as a loan. Gold in the form of jewellery or in any other form is acceptable jewellery or in any other form is acceptable as a collateral security. as a collateral security.

NBFC’s like Muthoot Fincorp are the NBFC’s like Muthoot Fincorp are the largest providers for gold loans in India. largest providers for gold loans in India. The loan is provided by after evaluating The loan is provided by after evaluating the quality of the gold. the quality of the gold.

In comparison to the gold loan, personal In comparison to the gold loan, personal loans offered by banks are cumbersome in loans offered by banks are cumbersome in that they are heavy in documentation. that they are heavy in documentation.

Require bank accounts, processing time is Require bank accounts, processing time is longer (whereas gold loans from longer (whereas gold loans from companies like Muthoot Fincorp take only companies like Muthoot Fincorp take only 3 minutes with easy documentation). 3 minutes with easy documentation).

Since personal loans are unsecured loans, Since personal loans are unsecured loans, interest rates are high and heavy interest rates are high and heavy verification or credit standing is required, verification or credit standing is required, mostly the pay slip or monthly guaranteed mostly the pay slip or monthly guaranteed income of the borrower. income of the borrower.

There will also be a high processing fee. There will also be a high processing fee. Gold loans are the best option for Gold loans are the best option for borrowers needing quick liquidity and borrowers needing quick liquidity and intending a pay back within a year.intending a pay back within a year.

Contact UsContact Us

www.muthootfincorp.comwww.muthootfincorp.com

www.muthoot.comwww.muthoot.com