The gold loan provider in Delhi comes with multiple advantages for the people because of the top-notch quality benefits provided by the gold loan. Gold is considered to be a very worthy investment whenever it comes to the world of requiring instant funds. People can go with the option of taking a gold loan from the bank by pledging the jewelry and coins very easily. Gold will always serve as the collateral to the bank until the loan has been repaid by the people.
Following are some of the advantages provided by the option of going with gold loans:
-It is associated with a lower rate of interest: One of the topmost advantages, why people prefer to go with the option of gold loan, is that it comes with a very low rate of interest along with processing fees which makes it very much popular among the people. People can go with the option of selecting the gold loan options with processing fees of approximately 1.5% on the loan amount.
-It is associated with very minimal documentation: Another great advantage of going with the option of gold loan is that it follows a very simple procedure and everything is based upon KYC documentation based system which further makes sure that there is only need of submitting the necessary documents as the age and address proof. There will be no need to provide the income proof along with other kinds of credit score-based documents of the people who are availing the gold loan.
– This particular option also comes with a waiver of loan foreclosure charges: Another great advantage of going with the option of gold loan is that these kinds of providers do not levy any kind of foreclosure charges on loan after three months and people can go with the option of paying the entire loan at any point of time after three months without worrying about any kind of prepayment penalty.
-It also comes with very flexible repayment schedule: Another great advantage of going with the option of gold loan is that people can always enjoy the flexible repayment schedule and the minimum tenure for this loan is six months and the maximum tenure is 24 months. Hence, people can also get the very maximum loan to value ratio which is approximately 75% of the weight of the gold which has been calculated by the lender.
-This often comes with different kinds of repayment schemes: One of the best possible advantages of going with the option of gold loan is that this particular option can be repaid with different schemes very easily. People can go with the option of choosing the interest upfront and principal later on. One can also go with the option of choosing the repayment option on bullet basis and one can also repay the amount with regular EMI option.
Hence, whenever people go with the option of the gold loan in Delhi they will be availing multiple advantages as mentioned above very easily.