The organised gold loan market continues to hold its promise of offering convenient financing solutions to loan seekers. It is expected to reach INR 7,557 billion by FY2024 with the increasing demand for gold loans. Gold loans are known for their easy terms and numerous facilities for borrowers. One of those facilities is gold loan renewal. Gold loan renewal is the facility when the entire loan amount and interest have been paid to the lender. An individual with an existing gold loan can take another gold loan with the same lending institution against the same gold valuables. Gold loan renewal ..read more

We constantly require funds to fulfill our primary and secondary needs. Gold loans in such cases become a quick and easy option for our emergency requirements. However, while considering a gold loan, the possibility of getting a high-interest rate becomes a major deterring factor.  We, at Muthoot FinCorp, are committed to offering an attractive, one-stop solution for your urgent financial needs — gold loan schemes at comfortably low-interest rates. So, whether you have been looking forward to buying a new car and beating the traffic blues, or giving your house the much-required renovation ..read more

Loan approval is not an issue as long as your credit history supports you and your CIBIL score is high enough. If your CIBIL score is low or you do not have any credit history, a financing company may hesitate to propose a loan. If it offers you a loan, it may carry a high-interest rate and low LTV (Loan-to-value) ratio. In such cases, households can rely on their gold jewellery or coins. What is a Gold Loan? A gold loan is a secured loan that you can get against your gold ornaments or coins as pledged articles. Depending on the gold loan company, they accept gold items with 18-24 karats finen ..read more

Gold loans are a form of secured loans given against gold assets and jewellery. A gold loan proves to be a quick and instant solution to any cash crunch or financial situation you are facing. This includes business investments, medical emergencies, weddings, education, and travel plans. Muthoot FinCorp offers some of the best gold loan schemes in the market.  Muthoot FinCorp – ‘Mera Gold Loan, Mera Interest’ with Virat Kohli Muthoot FinCorp is one of India’s leading NBFCs providing gold loans today. You don’t need credit checks or proof of income to get the loan approved. What’s more, you ..read more

A credit score is the numeric summary of an individual’s credit history, mainly issued by the credit agency CIBIL. It is a three-digit number that ranges between 300 (poor) and 900 (excellent) in India. Lending institutions primarily use this credit score to decide on a loan application approval or rejection. Such rejections impact the credit score negatively. It would be best if individuals could keep their creditworthiness sound to avoid loan rejection conditions. Generally, most lending institutions approve a loan with a credit score of 650+. If a lender approves a loan application with a l ..read more

Introduction Thanks to the changing times, people are more open than ever to loans. Loans are no longer looked at as a last resort to meet cash requirements but they also serve as a solution to managing finances. People happily take low-interest loans and pay them off in comfortable instalments as it keeps their savings intact. A gold loan and a loan against property (LAP) are collateral loans that do not require a person to sell their assets to meet expenses. Both these loans have a low-interest rate, and there are no restrictions about what you can use them for. Further, there are also minim ..read more

The World Gold Council’s latest report disclosed that demand for gold (not including OTC markets) for 2021 has increased over last year’s levels to reach 4,021t, making up for losses from COVID. In 2021, gold bar and coin demand rose to the highest point in eight years. For many people, gold is an element of security and luxury. It symbolises empowerment, representing what they have accomplished in life. However, sometimes people need a little extra cash to cover the cost of unexpected emergencies or weddings, education, house repair, etc. A gold loan bridges the gap between these financial ne ..read more

An unexpected shortage of liquid cash during a time of emergency can lead to missed opportunities in business. In trying times like these, when you are faced with a dearth of cash, you might forget about your greatest liquid asset. According to the World Gold Council, Indian households hold a combined 25,000 tonnes of gold approximately. Rural India alone accounts for 65% of this stock. Seeing the potential of this gold as collateral for easy finance, banks, and NBFCs around the world issue loans against gold. In India, over two lakh people choose Muthoot FinCorp’s gold loan schemes every sing ..read more