The world has been struggling to get back on its feet due to the pandemic. India has now surpassed more than 2 million cases and this number seems to increase day by day.
The economy is falling, people are losing their jobs, many are working on low salaries and the situation is pretty bad. People living from paycheck to paycheck are finding it difficult to survive today.
The only solution we can see at this point is a Gold loan.
Why do we say that?
Gold prices on 30th July 2020 crossed 50,000 INR for 10 grams. Yes, when compared to the same date last year in 2019, the price was roughly 36,500 INR for 10 grams.
In August this price has already crossed 57,500! This is where a low interest Gold loan can come to your aid. By keeping your gold as collateral with the Bank you can apply for the best gold loan in India.
Benefits of a Gold loan in India:
- ■ Since this is a secure loan, you get the lowest interest rates.
- ■ Your gold is safe and secure with the Bank.
- ■ On repaying the whole loan amount, your gold will be given back to you.
The major benefit today is that RBI issued a circular where they have increased the gold loan value from 75% to 90%. This means you can now get a higher loan amount.
Eg: If you have gold worth 2 lakh rupees, earlier you could only get up to 1,50,000 as the loan amount. But now you can get up to 1,80,000 as the loan amount. Isn’t this great news?
Such an offer has come at the right time. The RBI allowed this because they wish to ease the life of the common man in India. With this, they are expecting a huge rise in Gold loan applications.
Ruloans will always help you to borrow right and help you restart right in this difficult time.