Beware of these gold loan frauds. How to identify them? (Shield Yourself: Unveiling Gold Loan Scams and How to Spot Them)
A gold loan is a type of secured loan in which a borrower uses gold ornaments, jewelry, or coins as collateral to obtain funds from a financial institution or a lender. However, it provides individuals a quick and relatively easy way to access funds when they need immediate financial assistance. Gold loans are popular in many countries, especially in regions where gold holds cultural and economic significance.