How does Gold Loan work?

[>take]

How does the gold loan work?

In gold loan you pledge your gold ornaments, the lender provides you the liquidity at a fixed rate of interest. Loans are certified after inspection of basic documents and satisfactory evaluation of the gold pledged. The amount is given in the form of cash, demand draft or sometimes even an account transfer. The amount is then disbursed in the form of cash, demand draft or sometimes even an account transfer. The process is quicker than personal loans.

What will be the approx. interest one has to pay?

The interest varies (12%-27%)depending on loan to loan. Check here.

[amanjawanda]

Gold Loan is the best finance which can be availed when a person pledges his/ her gold assets to the bank. One can draw cash against jewellery within 5 minutes without any hassle. Opt gold debt to overcome any financial crunch.

[jitkumar]

Good method to earn money but first of all you check which investment plan gives you more return than the gold loan interest. Then only you can proceed.