When there are financial crises in a country or any disaster, what is that one thing which the individual might seek? It is believed that the one thing which everyone wants at the time of financial crisis is money in their hands by which they can face all the financial emergencies in those circumstances.

At present, the easiest and hassle-free way of getting money is applying gold loan online, which can be availed at some simple terms and conditions.

The banks, NBFCs, and financial institutions provide specific loans for specific situations such as if someone has a desire of making their own house can apply for a Home loan, if someone is facing any financial crisis in their higher education, they can opt for an educational loan, if someone wants money for their personal needs and requirements they can go for personal loans, there are many other types of loans also available.

Now let’s talk about the Gold Loan.

Know what a Gold Loan is

• As we have discussed in the above paragraph that there are various types of loans; with loans, there come some terms and conditions, which everyone cannot fulfil.
• So, in these cases, here comes the gold loan, which is a secured type of loan, and the only point of eligibility is owning the monetary asset against which your loan will be secured.
• Though it’s a commodity, its market movement is like currency. Gold is something very precious, and usually, its purchase is made during some auspicious occasions. In India, it’s also seen that it is passed on from generation to generation.
• Gold Loan is a kind of loan which is claimed against the collateral of any gold jewellery, and you can apply for the gold loan online also for any purpose there are no restrictions to its availability, whether it be for marriage, education, at the time of financial crisis or any personal needs.
• In India, it’s been seen that over time individuals have started using gold to fulfil their needs and desires rather than keeping their gold in the bank lockers and wearing it to flaunt. They think it’s better to use it as a monetary requirement [ even without selling it].
• Moreover, investing in gold is a great idea as you are making a long-time investment with it; you can use your asset to work for you in emergencies and needs. 
• Another option you can consider is cash against gold. Gold Loan lends 75% at LTV whereas You can also avail Cash for Gold which would be 99% around the actual value

Why should you prefer a gold loan?

Here are some key pointers that make applying for the gold loan online or offline a superior option:

• Gold Loan is one of the easiest and considered the convenient option when it comes to getting a loan, as you can get it by pledging your gold jewellery, and you can get up to 75% of the market value of the gold as a loan.
• For availing of the gold loan, the interested borrower doesn’t require to submit any proof of salary income, or it does not require maintaining a CIBIL score.
• You can apply for the gold loan online or offline at any financing agencies, such as you can go for Muthoot gold loan at Muthoot finance, you can apply there online at your ease of comfort.
• To avail of Gold Loan, some very basic documentation is required for security purposes such as your identity proof, address proof, signature proof, and a passport size photograph.
• By market finances like Muthoot gold loan at Muthoot finance is offered at the lower rate of interest as compared to the personal loan.
• At the time of financial emergency, gold loan works as a great option as the processing of the approval of gold loan takes from a few minutes to an hour, there is not much consumption of time.
• No prepayment penalty is there in gold loans.
• At the nominal interest rate agricultural loan against a Gold Loan is also available.
• The financiers of Gold Loan charge a very less amount of fees; borrowers have to pay valuation charges; also, in the case of the Muthoot gold loan, the valuation charges are not applicable as they have a house team of valuation.

Conclusion

In the upcoming and at the present gold loan is all around, people prefer to apply for Gold Loan online as it consumes less time and provides them with the comfort of their home.

You can go to the Muthoot finance web page and apply for Gold Loan online without any hassle.