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Selling Gold Ornaments Vs. Borrowing Gold Loan Which One Is Better And Why-e3300

Loans Financial hardships hit people more than once in life. Investments in gold are wise because it helps survive a financial crunch that may arise out of the blue at any time. Those who sell gold ornaments off, lose the resource that could save them more than once. Gold ornaments which are generally pent up in bank lockers and cupboards, can now be pledged to get financial relief instantly. This explains why taking a gold loan is a smart game-plan. The Benefits of taking gold loans instead of selling gold ornaments- 1. Safe Custody and Return Of Ornaments- In order to apply and take home a gold loan, you pledge gold ornaments, but you don’t transfer the ownership. And by pledging gold ornaments, you can simply apply for a loan of an amount you want. Generally the loan amount ranges from INR 1,500 to INR 1 Crore. In contrast, you get a lump sum by selling gold only once. If you sell, you can’t apply for a loan in the future to meet your need. Gold loan providers offer safe custody, and if you are meticulous, do a research in order to know more about the non-banking finance .pany from where you are planning to take a gold loan. 2. Higher ROI .es From Loans- Generally, women don’t like selling their gold ornaments. They love gold dearly. In worst cases, they agree to sell taking the severity of the situation into account. However, taking a gold loan is a better alternative in this regard. The owners get an assurance that after a certain point of time they will get their ornaments back. More importantly, selling offers a handsome amount for once. But, an owner could get more value by pledging ornaments more than once. And this way, taking a gold loan really offers more value. 3. Resale Value Depends On Time Unlike Loans- Gold’s value keeps fluctuating from time to time. Depending on the international and national value and the price of gold, buyers fix a price that is higher at times and sees downturn most of the times. Being affected by the financial crisis, people don’t get time to research and find a buyer who offers them the right price. Gold loans, as a product controlled by the Reserve Bank of India, have a fixed rate of interest that are more stable than gold’s price in the national and international markets. 4. No Gold Loan Harms the Borrowers- By selling gold, you get money. But, it, in turn, takes away the wealth. The gold loan doesn’t. It offers you financial support, safe and secure custody for gold and returns you all your ornaments when repayment is done. In addition to this, it saves your purse by waiving charges which are applicable to those who take a loan product other than a gold loan. The Bottom Line- Banks and non-banking finance .panies that offer gold loans are a dime a dozen. Choose a brand that has a wide reputation in the market and offers pocket saver benefits to borrowers. Gold ornaments, apart from its market value, have an emotional connection with the owners. Selling them off, therefore, is like cutting an attachment forever. Moreover, gold loans have more benefits than selling them to get a temporary solution. Think about it and choose a finance .pany that approves loan in less time and offers a transparent process for applying, taking and repaying loans. About the Author: 相关的主题文章: