Service charges on fresh loan under MEI scheme Service charges -Fresh loan- Rate applicable per account (ZIL/ZIP) Service charges -Fresh loan- Rate applicable on loan amount(IPL) However, before you choose the gold loan option that you like best, it is important that you put in some time to calculate your eligibility, so you can make an informed decision. Availing a gold loan from Muthoot Finance comes with numerous benefits like minimal documentation, low interest rates, and fast disbursals. Muthoot Finance offers a wide range of gold loan schemes that are designed to meet varying customer needs. 1 Most Trusted Financial Services Brand for 6 years since 2016 by TRA’s Brand Trust Report. As the gold loan is a secured loan, the rate of interest offered for the same is generally quite low. After a pre-decided tenure, you can pay the borrowed money, along with the applicable interest, back to the lender and get your gold back. Instead, you can use it as collateral and avail a gold loan to meet those immediate financial needs. However, if there is an emergency and you require quick funds, or if you have some plans, like a marriage, vacation, higher education, etc., that require capital, it isn’t necessary for you to sell your gold. Gold is an asset that can easily be sold and bought, making it quite the favourable investment avenue among Indians. The gold is pledged as collateral and on the basis of the value of the gold, as per the current market rate, the total amount of money that you can avail as a loan is calculated by the lender. Emerging as one of the most popular and safest routes for people to avail financial assistance for their immediate needs, gold loans are a type of secured loan that can be availed against gold assets.
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