Is Gold Loan Legal As Per The Government of India And RBI?

A gold loan is a secured loan taken by the borrower from the lender for completing their financial emergency by pledging their gold article. Gold loan is legal as per the government. Under the guidelines, loans divided by the bank against pledging the gold ornaments and jewelry should not exceed 75%.

A certain percentage of gold is provided as a loan amount. India’s popularity for gold is known to the world. India is one of the largest importers of gold in the world. Most of the Indian’s like to keep gold in the form of jewelry. Indians buy gold in the form of ornaments as well as investments. Gold loan in India is the best option for Indians to fund their urgent cash requirements.

According to the world gold council (WGC), the annual gold demand in India has increased as compared to 1987 to 2016 reports.

You can repay your gold loan in installment and after repaying the gold loan you will get your gold article back. Being secured loan gold loans takes shorter processing time ranging.

Gold loan is best as compared to any other loans: –

  • Gold loan has no restrictions on the end use of gold loan like other loans like car loan, home loan etc.
  • Gold loan is the best way for middle-class families to fund their child’s education or financial requirements.
  • You only have to give your KYC documents like ID proof, address proof etc.
  • Gold loan is 100% secured. You can freely take a gold loan if you are looking to fund your financial requirements.
  • Also, a gold loan doesn’t require a good credit history to get a gold loan.

Recently, when I searched to know about gold loans, I found

Rupeek gives you a gold loan with the best interest rate as their lowest interest rate starts with 0.48%. Rupeek gives you the facility of a gold loan calculator to Calculate the loan amount which you will get in lieu of your gold ornaments. They give you 100% safety against your gold. There is only four easy step you have to complete to borrow gold loan from rupeek: –

  • Easily visit website through your device or select your scheme and provide your address to book your appointment.
  • When you book your appointment, their executive will visit your home or your address and explain the schemes and after explanation they verify the loan manager’s ID and get the valuation of loan amount done.
  • The amount of loan transferred to your account before the loan manager leaves your place.
  • After your gold reaches the bank, you will get the confirmation of your gold reaching the bank.

My favorite aspect of rupeek is how there are no longer procedures to complete or no long lines or list of what you have to do. Rupeek is so simple and best for gold loans. Everyone with financial problems should take advantage of the rupeek gold loan. It offers one of the best services and explanations of gold loans and schemes.

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