Chennai, the capital of Tamil Nadu, is a city that embraces a blend of all cultures. The city attracts people from across the globe who visit this amazingly prosperous city for business, education and tourism purposes. This union territory has evolved from being a fishing village to becoming one of the most burgeoning metropolitan cities in India. Tourists come here to experience the history and heritage, taste the authentic South Indian cuisines, shop for traditional crafts, witness some breathtaking temples, and most importantly bask in the pleasure of a stress-free living.
Are you in need of a small loan? You may think that you have less than perfect credit and therefore won’t be able to get any amount at all. However, there are several organisations in India that offer gold loans. The organisation considers your gold as collateral instead of financial details. If approved for the loan, you will be able to receive capital for a short period of time in order to pay your bills or even make a purchase.
Gold loan organizations are expanding everywhere in India. These days you can find gold loan companies that provide anything from a small loan of Rs 2000 to a large one worth several lakhs of rupees. Despite the fact that gold is used as collateral by these organizations and not cash as such, this kind of loan is often tax free. Whatever your financial requirement, there exists a strong possibility that you’ll get approved for a loan from an appropriate firm.
The top Gold Loan companies in India are mentioned below:
- Muthoot FinCorp: We, at Muthoot FinCorp, ensure you get the cash you need with a loan sanctioned within 10 minutes. Your Gold Ornaments, Gold Coins, and Bars can become your credit card against an interest rate as low as 11.99%. Call us today to know more!
- HDFC Bank: HDFC Bank will issue the loan within minutes and disburse it directly into your bank account. You can use the loan for any purpose, including for medical expenses, business requirements, children’s education, or even for a family holiday.
- ICICI Bank: What can you do with gold in your possession that gives you flexibility to meet your financial requirements? ICICI Bank gives you the facility of gold loans or overdrafts. The funds can be used for a variety of purposes like meeting financial needs during an emergency, business expansion and even wedding expenses.
- Canara Bank: If you are in urgent need of some funds, but your cash flow is blocked and your other credit options are non-existent, you can still count on Canara Bank for a fast solution. Canara Bank offers gold jewelry loans that you can use to obtain money against the value of your gold ornaments. These loans are available at attractive rates of interest and convenient payment terms. And there is no need to worry about the future – our flexible tenure plans allow you to repay your loan along with interest, whenever it suits you best, so that you don’t have to worry about repayment at one go.
- Axis Bank: Axis Bank offers a wide range of banking solutions to meet the diverse financial needs of our customers. Our gold loan offers several benefits including quick approval and disbursal of the loan amount, attractive interest rates, easy documentation, and customer-friendly policies.
Checkout here more top gold loan companies in India.
Gold loan banks in India are non-banking companies that lend, if required, gold jewelry, coins and bars for a very quick period of time. The advantage of such loans is the maintenance of security through pawning the gold, income taxes on interest rates, no collateral or credit checks required and also that they are quickly available online with many budgeting options.
While signing up to apply for a gold loan with any company, it is essential to consider the key features of the loan offered by the company. For example, the available repayment schemes vary from one company to another, and so does the monthly repayment amount. This can help you choose the one that suits your current financial situation and spare your interest payments/fees.