Many times, you are faced with situations and emergencies where you need disposable cash for a variety of reasons. More often than not, the first thought that comes to mind in such situations is to take a personal loan. But before doing that, analyze a few things:

What amount of loan do you need?
What is the interest rate you are getting?
What is the paperwork required for loan processing?

At this juncture, you’ll realize that the loan approval process is most likely going to be time-consuming. Moreover, the interest rate on offer will also be on the higher side.

So, what should you do to tide over such unforeseen expenses? The answer lies within our homes and lockers – the gold articles we own. Getting a gold loan from an NBFC is not only quick but also much more sensible in terms of the nature of the loan and the terms of repayment.

Why Gold Loans Make a Lot of Sense in Financial Emergencies

When you avail gold loans from the top gold loan companies in India, it becomes easier to deal with such situations at a financial level. Just keep the following points in mind:

Easy Eligibility Criteria
Compared to other loans, gold loans provided by the best gold loan companies in India come with easy criteria for eligibility. Another plus is that a loan taken by pledging gold articles does not require a strong credit history or income proof. The gold loan provided by any NBFC can be used to fulfill urgent financial needs. Additionally, since the loan amount is decided according to the market rate of gold, it is one of the most easily accessible options for funds during a cash crunch.
Higher Loan to Value
Gold investments are safe, and so is the act of pledging your gold for taking a loan. Being one of the most preferred types of loans, gold loans offer a higher loan to value (LTV), which can be useful in many cases. Further, gold loan schemes are devised in such a manner that repayment is easy and doesn’t put any strain on the borrower.
Lower Personal Rates
Another advantage of gold loans is the usually lower rates of interest compared to loans from conventional sources. Due to lower interest rates, the repayment amount is significantly reduced and well spread out over the repayment tenure.
Variety of Plans to Choose From
At the time of getting a gold loan to tide over a cash crunch, many NBFCs provide gold loans. It is also important to note that they provide a wide range of repayment plans to choose from. This flexibility ensures that your personal finances are not affected when repaying the gold loan amount.
Quick Disbursal
Finally, the biggest benefit of getting a gold loan from an NBFC is the fast disbursal of loans. As soon as the application is submitted and the verification is completed, the loan amount required is sanctioned and credited to the borrower’s bank account.

As a form of credit, gold loans are very versatile. At the same time, they are quite flexible in terms of how you can utilize the loan amount. Capri Loans has been providing individuals with loans for a wide range of purposes and requirements. Our gold loan schemes have helped many individuals facing a sudden cash crunch. We will not only provide you with the best solution as an NBFC for your gold loan but also guide you at every step of the gold loan application process.

Five Reasons Why Gold is Considered an Alternative for Cash

Five Reasons Why Gold is Considered an Alternative for Cash