Indians are the largest consumers of gold and hoard lots of gold. Gold is like an insurance policy in times of crisis. Because of the nationwide lockdown to fight the coronavirus, more Indians are likely to turn to gold loan companies to raise money in times of financial crunches. Due to the ongoing pandemic experts believe that loan against gold is expected to grow exponentially in the next few quarters. The gold loan can possibly become a tool for revival and also the survival of many small and medium enterprise businesses and household fortunes and many other people who are facing problems due to the pandemic. Due to the nationwide lockdown many migrants, private company workers, and daily wagers lost their jobs and are highly affected by the loss of income. Gold loans in these difficult times of pandemic are great for a temporary revival.
gold-loan/Manappuram-gold-loan Manappuram gold loan offers the highest gold loan rate per gram. Gold loans can be applied easily at Manappuram gold Loans through online websites. Manappuram gold loan also provides a very reasonable interest rate and a very flexible tenure process. One can easily apply for a gold loan at Manappuram gold loan.
As we all know, a nationwide financial crisis is going on due to the nationwide lockdown. Many daily wagers, migrants, and private workers lost their jobs. Experts believe that in coming times the demand for gold loans will increase even more. People opt for gold loans in financial crisis as minimal documentation is required also your cibil score is not that much important. If you have good purity gold your loan can be granted fast. The gold loan has emerged to be a rescuer in financial crisis times. Gold loans also have a high loan value depending on the gold you provide. As per the latest price of gold, loans offered for gold per gram can vary from ₹ 2,550 to ₹ 3,116. Gold loans can be very easy to obtain with minimal required documents in time of financial difficulties gold-loan/gold-loan-per-gram Gold Loan Per Gram
can vary from different bank to bank. Before taking gold one should be well aware of the offers offered by different lenders.
People prefer gold loan during the financial crisis is due to the reasons listed below:-
-Easy processing
-The processing fee of the loan is less
-The reasonable interest rate offered by the bank
-Easy to apply with minimal documentation required
-Quick funding up to 20 lakh
-Flexible tenure as per the borrower’s convenience
-The credit score is not that important
-Flexible repayment choices offered to the borrower
-Can be applied online as well as in the nearest branch of the bank
Conclusion :-
A gold loan is a very flexible loan. As it is easy to apply. As a country, we all are going through a nationwide lockdown and many people have lost their jobs and are facing financial difficulties. The gold loan has become a rescuer in these difficult times. People in rural as well as urban areas are applying for gold loans. Gold loan is very simple to apply and funding is also very easily approved without any hassle. In coming times also the demand for the gold loan is going to increase in banks and non-banking financing companies(NBFCs).