Gold loans vs personal loans: 4 factors that affect your choice
1 year, 9 months ago

Gold loans vs personal loans: 4 factors that affect your choice

Live Mint  

Major economies are in turmoil causing people to lose their jobs. Many borrowers now wonder what kind of loan would suit them best considering how they can choose between gold loans and personal loans. However, the sudden jump in gold prices and personal loan interest rates are not the only things that borrowers must consider before applying for a loan. Comparing loan interest rates Gold loan interest rates when compared to personal loan rates are definitely on the lower end. Processing fees for personal loans can be as high as three per cent compared to gold loan companies that charge a flat fee of 0.1 to two per cent of the loan amount.

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History of this topic

Choosing the Right Type of Personal Loan for You
1 week, 4 days ago

Choosing the Right Type of Personal Loan for You

Live Mint  

Among the diverse financial products available today, personal loans stand out as a flexible and accessible option for individuals looking to meet their financial needs. Whether it's consolidating debt, funding a wedding, or managing unexpected medical expenses, personal loans can be the bridge to achieving your financial goals. Types of Personal Loans Understanding the different personal loan types can help …

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …
Trending News
4 weeks ago

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …

Live Mint  

Life often presents us with unforeseen expenses includeasily available to people. Knowing the key benefits of personal loans can help you make well-informed financial choices to achieve your objectives. The interest rates on personal loans are usually affected by several factors, including your credit score, income, and the loan amount. Quick disbursement process: Personal loans are approved and disbursed within …

Personal loan Vs gold loan: What should you choose and why? Check 5 key differences
1 month ago

Personal loan Vs gold loan: What should you choose and why? Check 5 key differences

Live Mint  

If you are falling short of money and currently exploring different means of raising funds then you can, among a slew of options, consider raising a personal loan. However, one of the key disadvantages of raising a personal loan is that it carries a high rate of interest. High rate of interest: Typically, gold loan is offered at a lower …

Pros and cons of personal loans: Is borrowing right for you?
1 month ago

Pros and cons of personal loans: Is borrowing right for you?

Live Mint  

Personal loans are one of the most sought after products in the field of finances, since they fulfil the need for instant money for any purpose. Personal loans are usually repos which are meant to meet specific needs despite the fact that as much as lenders set caps depending on your income and your ability to repay. No collateral required: …

Rising Gold Prices Make Gold Loans More Attractive
1 month, 2 weeks ago

Rising Gold Prices Make Gold Loans More Attractive

Deccan Chronicle  

Chennai: Elevated gold prices provide an opportunity for borrowers to raise more money for the gold they possess during financial exigencies. Unlike other secured loans like a home loan or car loan, there is no restriction on the end use of gold loans and unlike personal loans, gold loans do not require a good credit history. The interest rates of …

Want To Get A Gold Loan? See How Prices Of The Metal Impact Your Chances
3 months, 1 week ago

Want To Get A Gold Loan? See How Prices Of The Metal Impact Your Chances

ABP News  

By Amit Shroff Gold prices directly influence gold loans. An upward movement in gold prices adds momentum to gold loans as borrowers unlock the potential of their invested gold for liquidity. The LTV ratio determines the maximum loan amount that a lender can approve based on the total value of the gold pledged by the borrower. For instance, if the …

Personal loans for big purchases: Here are the pros and cons
6 months, 4 weeks ago

Personal loans for big purchases: Here are the pros and cons

Live Mint  

A personal loan presents a viable option for financing significant purchases. In contrast to credit cards, which may have variable interest rates based on your creditworthiness or the state of the market, personal loans provide peace of mind. Possibility of reduced interest rates: Interest rates on personal loans are usually lower than those on credit cards, especially for borrowers with …

Personal loans vs payday loans: What is the difference between the two? MintGenie explains
8 months, 1 week ago

Personal loans vs payday loans: What is the difference between the two? MintGenie explains

Live Mint  

Facing a difficult financial situation can certainly challenge your commitment to saving, but there are smarter approaches than depleting your emergency fund or selling investments. Best Personal Loan for you at lowest interest rate Instant Apply Cost : Personal loans typically offer much lower interest rates compared to payday loans. While a personal loan might have an APR ranging from …

Gold Rate Surges, Will Gold Loans Become First Choice of Borrowers?
8 months, 2 weeks ago

Gold Rate Surges, Will Gold Loans Become First Choice of Borrowers?

News 18  

Gold prices in India have been on an upward trend recently. Experts feel that the rising trend of gold prices in India can have a positive impact on gold loans in a couple of ways. Opportunity for borrowers Sumit Sharma, founder-Radian Finserv, said, “Cognisant of the consistent upward trajectory in gold prices over the long term, we recognise the current …

5 Things You Should Know Before Opting For a Gold Loan
1 year, 2 months ago

5 Things You Should Know Before Opting For a Gold Loan

The Quint  

Gold loans have emerged as a popular financial solution in India, providing quick access to funds while utilizing your gold jewellery as collateral. Before you decide to go for a gold loan, it is crucial to understand the essential aspects, including the gold loan rate of interest, gold loan per gram, and other critical factors that can impact your borrowing …

How do you benefit from taking a gold loan? MintGenie explains
1 year, 9 months ago

How do you benefit from taking a gold loan? MintGenie explains

Live Mint  

Ask 100 families in your neighbourhood if they have invested in gold, and you will find a whopping majority voting in favour of gold investments. Gold loan benefits The rising price of gold has prompted many inclined borrowers to seek loans against their gold deposits or investments. Depending on how one views investments, borrowers may offer their gold jewellery and …

Personal Loans: Step-by-Step Guide to Choose the Best Loan for you
3 years, 3 months ago

Personal Loans: Step-by-Step Guide to Choose the Best Loan for you

News 18  

Both 2020 and 2021 have been terrible for the economy. And while credit cards are an easy option, personal loans are still preferred over because they are the cheapest and are available at interest rates as low as 10.25 per cent. Other Charges Before finalising any loan option, you need to understand the extra charge involved in the personal loan …

Find out which lender offers the best rate for gold loans
3 years, 5 months ago

Find out which lender offers the best rate for gold loans

Live Mint  

The demand for gold loans has been strong amid the covid-19 crisis. For example, Punjab & Sind Bank offers gold loans at 7.00-7.50%, Canara Bank at 7.35% and Punjab National Bank at 8.75-9.00%, according to data from Paisabazaar.com.. Among NBFCs, IIFL Finance offers gold loans at 9.24- 24.00%, Manappuram Finance at 12.00-29.00% and Muthoot Finance interest rates are up to …

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