Blog #Manappuram Gold Loan Near Me

A lot of people who don't relate to Gold for Cultural or religious purposes invest in gold due to the safe nature it has. Since Gold is present in a limited quantity and money's value has also been pegged to it, its value can never be zero. Moreover, it only goes up and down by a few numbers therefore even in short term investment, It would bring much losses or profits.

Below mentioned are some reasons for taking a gold loan during an emergency -

• Fastest processing:
  The most important thing during an emergency is the instant cash requirement. Gold Loans are known to be the fastest in terms of processing. This has been made possible due to the advancement in the verification of gold machines. Now, most top lenders use XRF technology which can tell in a few minutes where the Gold lies in the purity index.
  
  
• Lenient eligibility:
  There are no occupational eligibility criteria in the case of Gold loans. You can be a homemaker, a working professional, a self-employed person and a retired person, everyone can get a gold loan. This makes it easier for anyone to avail of this loan, especially people who take care of their homes and don't get any monetary reward for that work.
  
  
• Minimal Documentation:
  You only require two documents if you want a Gold Loan. One is your address proof which can be your Aadhaar card, Ration Card, etc. And the other one is your identity proof, here also you can use your Aadhaar card or PAN card etc. Just submit these two along with your gold and get the money within an hour.
  
  
• Range of Gold accepted:
  The quality of your Gold can be as low as 18 Karats. The Gold accepted by banks ranges from 18K to 24K.
  
  
• No prepayment charges:
  Prepayment charges are those charges which would be levied in case you pay an extra portion of your principal amount before the date. Gold loans don't come with any prepayment charges.
  
  
• Readily usable:
  Since Gold is present in almost every Indian family in some quantities, it is readily available to be mortgaged and get a loan.
  
  
• Doorstep Gold Loan:
  Now a lot of banks and Non-Banking Financial companies offer doorstep delivery of services and 30 minutes Gold loan disbursal. You don't have to leave your house, the company representatives will come to your home and help you with all the formalities, check your Gold, take it, and disburse the amount.

Gold loan is a reasonable option for people who have seen a sharp decline in their businesses, some even had to shut down their businesses due to the staggering high losses. As many as one lakh small businesses were shut down due to the continual huge losses they were making. It's the most beneficial loan product for such people.

To search for the nearest branch of the financial institution near you, add near me at the end, for example, search Manappuram Gold Loan Near Me to check for the nearest branch of Manappuram.

The present times are the best times to take a Gold Loan since the Gold Prices are at an all-time high this means that the per gram gold rate has increased which also means that you will now get more money for the same amount of Gold for which earlier you would have got a lesser amount.

Conclusion -

Taking a gold loan during an emergency makes proper sense since it is the least expensive form of the other loan products such as credit cards, personal loans and other secured or unsecured loans. Moreover, the funds can be used for whichever purpose you like. So if you have taken Gold Loan for your home renovation but want to pay for your refrigerator as well, there is no restriction to it. In simple words, it provides you with the flexibility of using the funds the way you want just like personal loans and at the same time have lower interest rates and other charges.

Must Read:- What are the necessary things required to obtain a Gold Loan? 

When it is difficult for people to afford their daily expenses, how will these people pay monthly instalments? It is difficult, and this creates a negative impact on the minds of people regarding loans. To do that, people generally take loans. In earlier times, loans were not an easy task to get through, gold loans used to require a lot of rushing and stressing but now that the times have changed, it has become more accessible for people to avail gold loans, and with the introduction of gold loans it has become even more accessible, as earlier it took weeks for people to get their gold loans sanctioned but now people can get their gold loans sanctioned in just a few minutes, they can get this done just by sitting at their homes and by the click of a few buttons. During these testing times of the pandemic, people are finding ways to get quick money to fulfil their needs and wants. Until the situation gets back to normal, the moratorium helps save people and provide them with some extra time to pay their existing loans. This helps in reducing the burden of loan repayment during hard times.

SOME BENEFITS OF MORATORIUM ARE :-

• They are distributing the accrued interest in later month’s instalments equally to decrease the burden.
  
  
• Add the interest rate amount at the end of a few monthly instalments to get the advantages of the moratorium.
  
  
• The application for a moratorium is straightforward and does not require much effort, and a person can withdraw it back as he feels it is convenient to pay back the loan amount.
  
  
• By paying additional amounts or instalments at the end of the tenure period of the gold loan.
  
  
• Several conditions need to be varied to check if the person can get the moratorium. It majorly depends on the bank to check whether the person is suitable for availing of a moratorium.

These are benefits people can get through the moratorium, apart from the many other benefits provided through the gold loans. Yet, one should check when they will get a gold loan and compare several gold loan interest rate. Therefore, such details need to be evaluated, compared and then taken care of by people to easily avail gold loans and benefit from the amount of loan without stressing out in such testing situations. All the banks and lenders have different rules for providing moratoriums. However, almost every bank and lender provides these benefits to their customers at easy terms and conditions that might vary from bank to bank; more or less, they are the same. So these are a few things to bear in mind when applying for a moratorium so that they end up with a contract that does not put them in any additional risk and makes it simpler for them to handle the loan amount rather than making it easier and more difficult for them. As they provide relaxation to the people facing monetary issues and avail loans to cover their expenses, they get comfortable with the moratorium that banks and lenders offer. Therefore, a person should be well-versed with such details that the banks easily offer them to get through challenging times.

It is easy for people to get through this period if they have a good connection with their banks and lenders as they understand their customer’s problems and try to help them. For example, suppose I want to take a gold loan. In that case, I will be suggested many options but one such option which you can search online also is Manappuram Gold Loan Near Me. They care about their customers and understand their problems to grant a moratorium to them without any difficulties quickly. They will give their customers genuine advice and always see that they are benefitted from those decisions; they have easy conditions for the moratorium related problems. It is readily available, and people can relax just by doing some simple steps so that these times don’t cost people their life’s savings.

Also Read:- A Gold Loan for Financial Emergencies