Date:22/06/2022

Over the years, gold loans have been compared to personal loans in the sense that they allow you to meet immediate financial obligations. Individuals usually apply for a loan against gold for varied reasons such as to finance a home purchase or renovation, cover medical expenses, or provide business capital, etc. The great majority of these charges fall under the category of private requirements. Gold loans have a number of advantages that make them the optimal solution for individual financial needs.

Read on to debunk some common widespread myths about Gold Loan.

1. Traditional Gold Jewelers can only offer Gold Loan.

This fallacy is pervasive, and people who lack extensive knowledge regarding gold loans are left with only one option. The alternative gold loan providers, such as banks and Non-Banking Financial Companies (NBFC), also offer safe and efficient gold lending programmes to borrowers. The lending rate is also rather low with a platform such as us.

2. Process of availing the loan is too long.

Gold credit is an uncomplicated and reliable financial aid. It aids you in reclaiming your money in a relatively short amount of time. You can receive the benefits of gold development while addressing financial concerns. You must just visit the Gold Loan website and submit an internet application for a gold loan. On Money2me.com, the procedure is more simplified and straightforward than ever before.

3. High chances of Jewellery loss or theft.

This is quite unlikely if you have chosen us or a reputable NBFC or bank. In addition, your gold ornaments are insured against theft and unintentional damage while they are stored in the vault. With Money2me, you can increase the level of security provided. We store your gold jewellery in the vault of a reputable bank and insure it against damage and theft.

4. Sky-High Interest Rates.

This is also completely untrue; Gold loans are quite inexpensive. Different banks and NBFCs offer varying interest rates, but none are excessively exorbitant. Gold loans can enable you to satisfy your obligations in an emergency. Infact, the interest rate of gold loans is lesser compared to home loan, personal loan and business loans.

5. Traditional Jewellery Not Acceptable

Obviously, this is not the case. NBFCs do issue loans secured by antique gold jewelry and even contemporary gold jewelry. The only factor that is taken into consideration while providing the loan is the purity of the gold offered, which must be at least 18 karats or more.

If you are in need of immediate funds, you should definitely consider getting a gold loan. Take your jewellery to any NBFC offering gold loan and get a loan for any value instantly. With simple and easy documentation, the loan can be instantly availed and effortlessly. Worry not; your gold is absolutely safe – maybe even safer than it is in your own home!

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