Introduction
Gold loan or loan against gold is a secured loan in which a customer pledges his/her gold ornaments as collateral with a gold loan company. The finance, in turn, gives a loan amount as per the market value of gold to the customer. It is a very quick and easy way of fulfilling one’s financial needs as compared to the other loans.
Features
- Facilities Type: Overdraft or Demand Loan
- Purpose: To fulfill personal financing need
- Target Customer: individuals
- Tenure: 1 year revolving for overdraft (as per approval for demand loan not exceeding 1 year).
- Age: 21 years to 70 Years at the time of maturity