Financial crunch can be a very deplorable situation. An urgent need for funds arises at any time. A natural solution that you can think of at such times is to avail a loan. Banks and NBFC offer a plethora of loans from which you have to choose the one that suits you the best. Gold loan is one such loan that comes handy when you need funds the most.
It is a loan against gold. You are availing cash against your gold ornaments or gold coins. This type of gold finance is very simple, secure and safe. Instant gold loan is a secured loan type where you pledge your gold as a security or collateral to get funds.
Why Gold Loan?
Gold is a precious metal having aesthetic and economic value. Your gold ornaments can fetch you the right amount of cash in the market if you sell it. But along with economical, gold also has emotional value. Your gold ornaments have many memories attached to it and hence, selling it in the market for money can be disheartening and saddening. A gold loan gives you a chance to get cash for your gold, keeping it safe and secure. You can get your ornaments back on full repayment of the loan amount.
Benefits of Muthoot Fincorp Gold Loan
Muthoot Finance is one of the oldest and the leading NBFC in India, which has a substantial share in the gold loan sector in the country. Here are some of the benefits of availing a gold loan from Muthoot Fincorp.
- The Simple Loan Application Process
The loan application process of Muthoot Fincorp is client-friendly and straightforward. The application form needs you to provide necessary details, and fewer documents suffice the application procedure.
- Instant Disbursal of the Loan Amount
When you are in urgent need of funds, you want your loan amount as soon as possible. Muthoot Fincorp gives you the loan amount on the spot and with minimum fuss. It makes your problem easy and bearable.
- No Capping for the Loan Amount
The loan amount depends upon the current gold price and the quality of your gold on carats. The lender may give you 60 – 80% of the market value of your gold in a gold loan. Your loan amount depends upon the quantity of gold you can pledge to the lender.
- No Penalty for Pre-payment
Many lenders charge a penalty for the pre-payment of the loan amount. Muthoot Fincorp will not charge you any fees for the pre-payment of the loan amount. It encourages the borrower to repay the loan before time if he can arrange for the money and can save the interest amount.
- Few Documents for Loan Application
The first thing that any borrower would think of before applying for a loan is the type and the number of documents you will need to submit to the lender. Muthoot Fincorp requires a minimum number of records for the loan. You will have to provide the proof of your identity, residence, bank account, and gold.
- Spot Valuation of the Gold
Every lender sanctions the loan amount after the valuation of your gold ornaments by an expert. Many lenders do not have their in-house experts and rely upon freelance experts. Muthoot Fincorp has its in-house experts to evaluate your gold quality and to evaluate it as per the market price.
- Excellent Customer Care
The lender has to deal with a variety of customer types and must have an excellent customer care policy to satisfy each of them. Muthoot Fincorp considers every customer unique and provides quality assistance and exemplary customer care.
- Excellent Security of Your Gold Ornaments
When you avail a gold loan, your primary concern would be the safety of your gold which you are pledging to the lender. With Muthoot Fincorp, you can rest assured. You can get your gold back safe and sound on repayment of the loan amount.
Gold loan is an easy and quick way of availing funds during a financial emergency. Muthoot Fincorp gold finance gives you the best value for your gold with ease and utmost safety of your Gold ornaments.