Quite recently, Gold prices crossed 50,190 rupees on the market as of July 2020. The rate in 2019 for Gold was 35,220 rupees. This means there has been almost a rise of 15,000 rupees in the price of Gold within 1 year.
This goes to show how important Gold is and how people in India consider this to be a safe mode of investment. Everyone knows that India is one of the main purchasers when it comes to Gold.
Indians use Gold for,
- ■ Marriage
- ■ Investment and
- ■ Emergency situations.
Today we will focus on the emergency issues that Gold can be used for.
Emergency situations in Lockdown 2020:
We all know how difficult life has become since 21st March 2020 when a nationwide lockdown was announced. Because of this many people,
- ■ Lost their jobs
- ■ Working on a lower salary
- ■ Loss in Business
- ■ No money to bear Medical expenses
Savings have been exhausted and hence people are now struggling after 100+ days in this lockdown. Life is becoming difficult for migrant workers who now have gone back to their villages. But what about people that live in cities and are badly affected.
How can the common man survive in this lockdown?
A gold loan is one solution that can give you temporary relief and ensure your family is safe and that you have enough money to clear all expenses.
Why take a Gold loan in India?
- ■ Emergencies come unannounced. In such times, money is what is urgently required. Most loans can take more than 2 days* to be credited in your account. But Gold loans can be credited within 1 day* also.
- ■ Gold loans have the least documentation and hardly any eligibility criteria. Hence a low credit score will not affect your loan process. As long as you have gold, anyone can get a gold loan.
- ■ Your gold will get the highest safety and security. This means you can be tension free and use the loan amount to sort your family expenses.
Why is this the right time to take a Gold loan?
As gold prices have crossed 50000 rupees, you can now get a higher gold loan amount for your gold. So this means you can use this high loan amount and survive until this lockdown gets over. Isn’t this a great option?
Where can I apply for the Best Gold loan in India?