Avoid these Mistakes When Applying for a Gold Loan

Dreaming of owning a home, travelling to exotic destinations, or meeting an unexpected financial obligation? Taking out a Gold Loan can be an excellent solution to meeting your financial needs. However, before you dive into the application process, there are some crucial points to keep in mind to avoid common mistakes that borrowers often make.

Let us guide you through the Gold Loan application process at Muthoot FinCorp ONE to ensure that you can fulfil your aspirations without any setbacks.

Mistake #1: Not researching the reputation of the lender How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE, an SBU of Muthoot FinCorp carries with it a legacy of 135 years plus, serving over a crore happy customers across 4500+ branches in India.

Mistake #2: Not comparing the interest rates How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE offers interest rates as low as 0.83% p.m. for Gold Loans, and you can also use the Gold Loan calculator to learn more about the Gold Loan schemes.

Mistake #3: Not understanding the repayment schedule How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE offers a flexible repayment plan that is customised to your convenience.

Mistake #4: Not understanding the purity of gold How Muthoot FinCorp ONE Can Help: Use the Muthoot FinCorp ONE Gold Loan calculator to evaluate your eligibility based on the purity of your gold.

Mistake #5: Not being aware of the hidden charges How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE has 0% processing charges for gold evaluation and collection services from home, and there are no hidden charges.

Mistake #6: Not being punctual on repayment terms How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE has flexible repayment options, and our customer support team will keep you informed throughout the relationship so you can make your payments on time.

Mistake #7: Not looking for the best customer service How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE has a good track record in customer service, with Muthoot FinCorp serving over a crore plus happy customers in their 135 years plus of service.

Mistake #8: Not understanding the loan-to-value ratio of gold How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE offers up to 70% market value of gold as the loan amount.

Mistake #9: Not securing your gold properly How Muthoot FinCorp ONE Can Help: Muthoot FinCorp ONE has robust security measures in place to ensure the safety of your gold. For Gold Loan from Home, your gold jewellery is carried in GPS tracked boxes and is kept in secure storage as soon as it reaches the branch. Your pledged gold jewellery is insured as soon as you hand it over to us.

Apply for a Gold Loan from Home with Muthoot FinCorp ONE today.

Remember it is essential to understand the key aspects of the application process to avoid any potential pitfalls.

At Muthoot FinCorp ONE, we are committed to guiding you through the Gold Loan application process to ensure that you can fulfill your aspirations without any obstacles. With our expertise and support, you can take a step closer towards achieving your dreams with confidence and ease.

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.

Alternatively, you can also follow us on Facebook, Instagram, Twitter or LinkedIn to stay tuned to our latest offerings.

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