Busting myths associated with Gold Loan

Gold loans are secured loans, making them more flexible in terms of documentation, interest rates, eligibility criteria, and affordability. It is a widely used financial product today for quick financial needs. With our Gold Loan from Home, you can get money instantly at home in 30 min*. But there are some myths associated with gold loans. Some of the common myths and the facts behind them are explained below.

Availability of Gold loans Many people still believe that the only option to get a gold loan is traditional gold jewellers and they are unaware of the alternative organised gold loans providers like banks and NBFCs.

We offer gold loans at home with our Gold Loan from Home, where you can apply for a gold loan from the comfort of your home. We are a SBU of Muthoot FinCorp, one of the leading NBFCs in India with a legacy of 135 years of serving customers.

Click here for more about the advantages of gold loans from home over regular loans.

Processing time Another myth about the gold loan is the process is complex and time-consuming.

You can get our Gold Loan from Home through a simple process with minimum gold loan documents within a turnaround time of 30 minutes*.

Learn more about the step-by-step guide to applying for a gold loan from home. Safety of collateral A deep-rooted myth is that collateral jewellery can be replaced with fake gold.

This is a misconception. Your gold jewellery collected from your home is transported in a GPS-tracked safe locker to one of the Muthoot FinCorp branches with 24/7 surveillance. We also automatically insure your pledged gold jewellery always for an added layer of security. We are one of the most trusted NBFCs by Crores of customers and have more than 4500 branches across the country.

Click here to learn more about the measures we take to keep your gold safe.

Interest Rates Another misbelief among people is that the interest rate of gold loans is very high.

In reality, we provide you the best-in-industry gold loan interest rates. You can enjoy a 0% processing fee for our gold evaluation and collection services. You also get a maximum loan-to-value for your gold.

Access the online gold loan calculator here and check for customised loan schemes and interest rates.

Purity and form of gold Another myth is that antique jewellery is not accepted for gold loans.

We accept gold jewellery in any form with a purity of 18 karats and above. If you are pledging gold jewellery with precious stones, the eligibility is estimated by deducting the stone weight from the gold weight.

Click here to learn more about how to evaluate your gold jewellery

There are no limitations for the usage of the Gold Loan from Home amount. With our Gold Loan from Home, you can achieve any of your objectives, such as a wedding in the family, buying or decorating a home, higher education, or going for a dream vacation. Our lowest gold loan interest rate and flexible repayment options will help you to repay the loan faster. Head to the Muthoot FinCorp ONE app to book an appointment for Gold Loan from Home.

*TCA

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