What is the Gold loan used for Dire Needs?

A gold loan is a secured loan used for instant cash in an emergency against your gold. It is in the form of jewelry or may also include some pernicious stones that are not included in the criteria of a gold loan. A gold loan provides you the facility of the lowest interest rate and minimal documentation required. If you want to opt for a gold loan then you should compare the gold loan interest rate and other eligibility criteria for a gold loan. An individual can also go for a Future Capital gold loan. 

If an individual wants to assemble gold for some short-term working capital, here are some reasons that will assure you why you should go for a gold loan over other types of loans. 

Merits of gold loan: Gold loans include several factors such as gold loan interest rate, gold loan per gram. The gold loan has various merits that you can read on for further info related to the gold loan that why it will become your best friend for lower-balance people. 

  1. Faster processing: Gold loans provide an immediate loan and come with lenient eligibility criteria. Several banks provide different gold loan interest rate and you only require less documentation for the application of a gold loan.  Applying for a loan at Future Capital gold loan bank is a one-click procedure. You just have to visit the official website of Future Capital gold loan and complete all the formalities and you can disburse your gold within a few minutes. 
  2. Lower interest rate: A gold loan provides the lowest interest rates in the market. Gold loan interest rate is different from other loans like a personal loan. They both can be used for many purposes such as education, medical, home remodeling, marriage, business enhancement, etc. However, personal loans and car loans give a higher interest rate as compared to a gold loan interest rate. Gold loan interest can become lesser if you include another asset as collateral. The future capital gold loan also provides the lowest interest rate and you can access the details from the website. 
  3. Minimal processing fee: Processing charges for a gold loan are minimal processing fees and sometimes inadvertently increases the amount of money you have to spend to get a gold loan. Future Capital Gold loan charges a processing fee of 1.0% of the principal amount.
  4. No foreclosure charges: When you opt for a gold loan then you do not need to worry about the prepayment penalty or foreclosure charges. You can repay the full amount with interest at any time and take you to gold back without other costs. So, along with a lower interest rate and no processing fee, with a Future capital gold loan, you can save money on the foreclosure procedure. 
  5. No credit score: A gold loan does not rely on the credit score as other types of loans do. Banks will take your gold in exchange for the loan amount, you don’t require to present your CIBIL score to get your loan approved. The loan amount is simply decided through the gold loan per gram rate in the market, purity of your gold and tenure are often decided on a per case basis. The future capital Gold loan also does not demand a CIBIL score and credit score.