Why Take A Gold Loan To Buy A Car?


Are you dreaming of owning a car, but the financial hurdles seem immense? Don't worry there might be a glittering solution in your locker. A Gold Loan to buy a car is an intelligent and practical approach that many individuals are turning to.

Let us see the reasons why opting for a Gold Loan to purchase a car is a smart choice.

1. Speedy Processing: Opting for a Gold Loan to buy your dream car is a turbocharged choice. The process is expedited, with approval in as little as 30 minutes.* You will be behind the wheel faster than you think, leaving lengthy loan approvals in the dust.

2. Competitive Rates: In the finance world, interest rates are the fuels that keep the engine running. The good news is that Gold Loans often offers lower interest rates compared to traditional car loans. With rates as low as 0.83% p.m.* you can hit the road in style without burning a hole in your pocket. Lower rates translate into manageable monthly payments, making your car purchase an economical journey.

3. Instant Approval: The frustration of waiting for loan approval can put the brakes on your car aspirations. With a Gold Loan, you can skip this inconvenience. The process is streamlined, and once your gold is assessed, you can expect instant approvals and swift transfer of funds to your bank account. This rapid turnaround ensures that you don't miss out on the best car deals.

4. Credit-Friendly: Have past credit woes thrown a wrench into your car financing plans? A Gold Loan is the perfect solution to your problem. Reason being, it does not require a credit check. Your eligibility hinges mainly on the value of your gold, making it an ideal choice for individuals with less-than-stellar credit histories.

Why Muthoot FinCorp ONE?

Unlocking these benefits is a breeze with the Muthoot FinCorp ONE platform. It enables you to calculate the value of your gold instantly using the Gold Loan Amount Calculator. This feature lets you assess how much you can borrow against your gold assets, allowing you to steer your car budget in the right direction.

The app also offers a range of Gold Loan Plans tailored to your needs. This flexibility ensures that you can choose a plan that aligns perfectly with your financial goals and paves the way for your dream car purchase.

Also, when you opt for a Gold Loan through Muthoot FinCorp ONE, you are not just securing financial assistance; you are entrusting your gold to a reputable institution. Our commitment to security and safety is unwavering. We take complete responsibility for your gold ornaments, and with our BIS Standard 9400 compliance for gold storage and safety, you can be rest assured knowing your precious assets are in safe hands. Additionally, your gold is insured and tracked during transit, offering an extra layer of protection.

Choosing a Gold Loan to fund your car purchase is a smart move that offers a fast track to your dream car. It provides speed, competitive interest rates and the convenience of bypassing credit checks.

About Muthoot FinCorp ONE

Muthoot FinCorp ONE is an all-in-one digital financial platform that makes getting an MSME & a Gold Loan, investing in Digital gold & NCDs, making payments & remittances, buying insurance & exchanging forex, simple and convenient.

As an SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy stretching back over 135 years, and the trust of more than 1 crore customers and is building a holistic financial ecosystem using the latest digital products for lending, investing, protection and payments.

Muthoot FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan Group (Muthoot Blue) by providing its customers with easily accessible services, replete with unmistakable quality. The Muthoot Pappachan Group is among India’s most reputed names in the financial services industry, with customers in diverse segments like Automotive industry, Financial Services, Hospitality, Alternate Energy, Real Estate, and Precious Metals.

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.

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