Take loan against gold Jewelry up to 90% of its value

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The Reserve Bank of India (RBI) has given a big deal to the people taking loan by pledging with the bank. Now you can take 90 percent of the total value of jewelry as loan. So far, only 75 percent of the total value of is loaned. loan has become even more attractive with this decision of RBI. The biggest advantage of this will be that due to rising , people will be able to apply for a higher amount of loan. RBI Governor Shaktikanta Das (RBI Governor Shaktikanta Das) said that the facility of taking a loan of up to 90 percent on gold jewelery has been extended till 31 March 2021. Let us tell you that during the time of corona virus epidemic, people have used gold loan quite a lot. In view of this, RBI has taken this decision.

Gold loan’s interest rate is low

In gold loan, the gold jewelry is given a loan by keeping it as collateral. Gold loan is one of the best options to increase the income and earnings of the lenders. Gold loan has lower interest rate as compared to personal loan. Hence it is very beneficial for the borrowers. Currently, personal loans are available at 10 to 15 percent interest rate depending on job profile and credit score. At the same time, when talking about gold loan, it is available at an interest rate of 8 to 12 percent. Different banks have different interest rates.

Another special thing about it is that you do not need to have a good credit history to take advantage of a gold loan. But if your credit history is good, then you can get gold loan at cheaper rates. In gold loans, you get the option of easy repayment. Partial repayments are also available.The Reserve Bank of India (RBI) has given a big deal to the people taking gold loan by pledging gold with the bank.

Now you can take 90 percent of the total value of gold jewelery as gold loan. So far, only 75 percent of the total value of gold is loaned. Gold loan has become even more attractive with this decision of RBI.

The biggest advantage of this will be that due to rising gold prices, people will be able to apply for a higher amount of loan. RBI Governor Shaktikanta Das (RBI Governor Shaktikanta Das) said that the facility of taking a loan of up to 90 percent on gold jewelery has been extended till 31 March 2021. Let us tell you that during the time of corona virus epidemic, people have used gold loan quite a lot. In view of this, RBI has taken this decision.

Gold loan’s interest rate is low

In gold loan, the gold jewelery is given a loan by keeping it as collateral. Gold loan is one of the best options to increase the income and earnings of the lenders. Gold loan has lower interest rate as compared to personal loan. Hence it is very beneficial for the borrowers. Currently, personal loans are available at 10 to 15 percent interest rate depending on job profile and credit score. At the same time, when talking about gold loan, it is available at an interest rate of 8 to 12 percent. Different banks have different interest rates.

Another special thing about it is that you do not need to have a good credit history to take advantage of a gold loan. But if your credit history is good, then you can get gold loan at cheaper rates. In gold loans, you get the option of easy repayment. Partial repayments are also available.

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