Gold Loan For Funding Education

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Gold loan has been the most common loan in India. People have very sensitive and emotional feelings for gold in India. They use it as an asset during emergencies. Gold Loan Per Gram may vary depending upon the market price of the gold. Before applying for a gold loan one should always lookout for the gold price in the market to get the best deal. While applying for a gold loan make sure the purity of the gold given to the bank is 18 carats or above. Banks and non-banking financing companies(NBFCs) accepts all forms of gold including jewelleries, coins and many others. For applying for a gold loan one can visit the official website or the nearest branch of the bank and financing companies. 

Yes Bank gold loan can be availed from offline as well as online website of the bank. The bank offers various schemes of the gold loan which can be easily availed. The interest rate on the gold loan starts from 9.90% in Yes bank. The loan tenure offered ranges between 6 months to 36 months. The processing fees charged are minimal. The bank charges 0.48% processing fees on the loan. For more information regarding the gold loan one can visit the website or the app of the bank. 

Gold loans can be easily used for educational purposes. It is very much beneficial for the educational purpose. One can apply for a gold loan from any bank and financing companies around the country. Many people prefer getting a gold loan for educational purposes.

The various benefits are listed below:- 

  • No credit score requirement:- when applying for a gold loan credit score is not that much important. Banks and non-banking financing companies(NBFCS) do not look for the borrower’s profile. The only thing important while getting a gold loan is purity of the gold and amount of gold. One can easily apply for a gold loan without much difficulty as it is easy to apply. 

  • No Restriction:- An applicant can use the loan availed for various purposes without any restrictions. This is very much beneficial while getting a loan for educational purposes as for educational purposes money is required for various different purposes such as airline fare or travel fare, lodging costs and other associated costs of living in a different country or state. One can easily fulfill all the required purposes.

  • Eligibility criteria:- The eligibility criteria for a gold loan is minimal. An applicant needs to submit minimal documents such as Aadhar Card, Valid Driving License, Valid Passport, Voter’s ID Card, Salary slip, income tax return documents, employment proof, bank statements, income proof and other documents as demanded by the bank. One can easily fulfill these criteria and apply for a loan without much hassle. 

  • Loan amount:- One can easily get a loan upto 50 lakh. Gold loans provide a high loan amount in no time. One can easily use the loan amount availed for educational purposes. One can easily get financial help for educational purposes. 

  • Low interest rate:- one of the biggest advantages of getting a gold loan is that banks and non-banking financing companies(NBFCs) offer a very reasonable interest rate on the gold loan. One easily avails gold loan at very minimum rate and avoids extra losses. It is preferred all over India due to its attractive interest rate in comparison to any other loan. 

Conclusion 

Gold Loan is the preferred loan in India. Many people take gold loans for educational purposes. Gold loan and help a student to study in his dream college. It has helped people a lot in times of crisis. Above are all the important points mentioned about the gold loan for educational purposes. One can refer to the above article for information regarding the gold loan for educational purposes.

 

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