Skip to main content

WHAT WORKS IN FAVOR OF GOLD LOAN FROM SHUBHBANK


           


Gold Loan from ShubhBank offer competitive interest rates of 9% - 26%, quick disbursal and no restriction on end usage. Many borrowers especially owning the gold often struggle to decide either to go for a personal loan or a gold loan. In this, article we have discussed some crucial factor that should help you to understand that what works in favor of Gold Loan from ShubhBank.

AVAILABILITY OF HIGH LOAN QUANTUM: Gold loans usually outsource other loan products in terms of maximum degree of loan quantum. The lenders offer the loan upon the capacity of gold that you hold that results from few lakhs to crores. In case you require a high loan quantum "Online Gold Loan" would be a more suitable option to fulfill your need.

LESSER EMPHASIS ON CREDIT HISTORY: Being a secured type of loan, as they are pledged against your gold ornaments is quickly disbursed without considering the borrower’s credit history. It makes possible for borrowers with low credit score to "Avail a Gold Loan" in times of emergency. In case of default, lender recovers the outstanding dues by selling the pledged gold. If the loan quantum is very high, then the lender could consider your credit history to determine the risk of defaulting in future while repaying the huge amount.

MINIMUM DOCUMENTATION: The gold loan involves the least degree of documentation among various form of loan products and credit, as most lenders require just some basic documents such as identification proof and residence proof of the borrower. However other loan products like personal loan have a more detailed documentation procedure. Along with such basic documents like identification and residence proof, income proof and bank statements are also needed. After submitting the genuine documents to the bank or lender, you can get an easy approval on your gold loan.

HIGHER REPAYMENT FLEXIBILITY: Many lenders offer flexible repayment options for gold loan, like option to pay the rate of interest portion upfront or on monthly basis and the principal amount at the end of loan tenure, bullet repayment (repay the principal amount along with rate of interest at the end of loan tenure) etc. Such flexibility on repayment mode isn’t available for most of the other loan products. In other credit forms, borrowers have to repay the amount through regular EMIs involving both principal amount and rate of interest.

            The decision totally depends upon the borrower’s profile and need either to choose a gold loan or other loan product like personal loan. In case, you want to avail a high degree of repayment flexibility while having a low credit score or you are in a need of higher loan quantum urgently, and is comfortable in paying back within short time period, you may choose to "Apply For a Gold Loan" from ShubhBank. Those borrowers who have a regular income, good credit score and require higher loan amount can get the benefit of approving their loan within a few hours after applying for it.

Labels:

Comments

Post a Comment

Popular posts from this blog

GUIDE TO BUYING A USED CAR: FIGURING OUT INTEREST RATES

As of now, in the fast-paced universe of today, possessing a car is neither a luxury nor a need. While considering the practicality of purchasing a used car, the vast majority of individuals arrive at this resolution. In any case, financing such a purchase can be troublesome. This blog aims to impart information regarding the intricacies of used car loans, with a particular emphasis on the critical component of interest rates. What is a Used Car Loan? A " Used Car Loan " is a financial product designed to assist individuals with the expense of purchasing cars. A used car loan, in contrast to a conventional car loan for another vehicle, is designed to accommodate the extraordinary circumstances associated with purchasing a used automobile. Factors Influencing Used Car Loan Interest Rates 1. Credit Score: An essential part of loan applications, the credit score significantly impacts the interest rate determination process. Individuals must maintain a decent credit history bec
Post a Comment
Read more

EXPLORING OFFERS AND OPPORTUNITIES OF USED CAR LOAN

Many individuals instantly consider purchasing a brand-new car when they are thinking about buying a vehicle. The used car market has, by and by, as of late, acquired colossal traction. The availability of used car loans and the alluring motivating forces they give that may be of some value are two important factors adding to this development. In this article, we'll dive into the importance of used car loans and investigate some alluring " Used Car Loan " options that could be useful to you to make a financially wise choice while purchasing a pre-owned vehicle. Why Opt for a Used Car Loan? 1. Cost-Efficiency: For individuals hoping to purchase a vehicle without failing, used car loans are a financially mindful decision. While used cars have already encountered this early depreciation, new cars can lose as much as 20-30% of their value in their most memorable year. In this sense, used cars offer better value for your money, and a used car loan can assist you with getting
Post a Comment
Read more

THINGS TO KNOW ABOUT BUSINESS LOAN AND BUSINESS LOAN INTEREST RATES

Admittance to suitable and sufficient financing can distinguish between a business flourishing or battling to remain above water in business ventures. Business loans have arisen to help businesses, giving the fundamental money for development, extension, or even conquering financial obstacles. Here, you will investigate the universe of business loans, with a sharp spotlight on business loan interest rates, assisting you with pursuing informed choices for your endeavor's financial future. Understanding Business Loans Business loans are financial instruments intended to give organizations the capital they need to operate, develop, or address prompt financial necessities. These loans can be utilized for different purposes, like beginning another endeavor, expanding an existing one, purchasing equipment, covering operational expenses, or refinancing existing debt. Business loans are regularly presented by banks, credit unions, online lenders, and other financial institutions. The terms
Post a Comment
Read more