Apply for gold loan: The phase of COVID-19 lockdown gold banking organizations are less impacted. At a time when the country is recovering from the effects of the global outbreak of COVID-19, NBFC (Non-Banking Finance Company) are among that worse hit by a coronavirus. Because of that, performance is expected to be a hit due to tensions in the sectors. While these firms’ concerns are sustained, Manappuram Finance and Muthoot Finance – may have fewer impacts on gold finance companies. Apply for Gold loan if you face any money emergency in a lockdown situation.
There is no doubt both gold finance companies have also struggled disruptions due to quarantine, both companies have also shut down their branches. India’s gold loan market will be touching Rs. 4,617 billion by 2020. There may also be some asset class tension. However, very liquid gold loans with particular asset tenure of fewer than 12 months and pricing power (to pass on higher costs) should be revived well. Apply for Gold Loan with the help of our services; we have tied up with the best gold loan finance companies.
“The protection of wealth is the most valuable in the prevailing situation when the level of influence of COVID-19 is very challenging to discover. Nobody is able to predict how long it will endure. I think, gold finance companies are a more reliable and safer choice among NBFCs,” says Deepak Jasani, head of research-retail, HDFC Securities.
“Other business sections such as microfinance will see some defaults and there could also be some write-offs if the situation continues,” says Bunty Chawla, an analyst at IDBI Capital. But he assumes gold finance companies are a comparatively more suitable option. Moreover, short-lived occupancy of assets and moderate liquidity position, as stated by both companies and the Reserve Bank of India’s current announcement on liquidity push is also comforting and should help address any asset-liability mismatch.
The Gold Loan is the most common loan in India because people have gold that sitting idle at home. The better way of using your gold jewelry is those provide gold to the bank and get money. Gold loan is a secured loan that means you put your gold as collateral, and once you pay the money, you will get back your gold.
How can you apply for Gold Loan in the lockdown condition?
1) Go online and choose the bank at the website of Rokdabazaar. We have the great banks tied up.
2) The bank then asks for few documents like photos, identify proof, and documents of the gold.
3) After seeing the worth of your gold, then the bank will decide the rate of interest and tenure.
4) After verifying everything then you will have the money on the same day.
1) Manappuram Gold loan
a) Processing fees of loan is Rs. 10 at the time of settlement and this is the one-time fee.
b) The interest rate is 12% and that is fixed and the tenure is 12 months.
2) Muthoot Gold loan
a) Processing fees of loan 0.25% to 1 % of loan amount and that is the one-time fee.
b) The interest rate is 12% and that is fixed. The tenure is 36 months.
You can go to the website of rokdabazaar to know about more tied-up NBFCs for gold Loan. Apply for Gold loan for medical emergencies like this pandemic condition.