List of Gold Loan Articles

Gold has been considered a very precious metal not just for its financial value but also for its cultural and symbolic significance. Moreover, if you talk about India, buying gold is related to prosperity, wealth, as well as good fortune.

Gold prices are different in every city. Well, there are few reasons as to why there is a price change. Ideally, the rate of gold is determined by the international gold rates on that day. Then logically, the gold rates should be the same everywhere but that doesn't exactly happen as there are certain variables added to that equation.

Fixed Deposits provide a secure harbor for assured returns and capital preservation, making them ideal for risk-averse investors seeking stability. On the other hand, gold offers a timeless allure, the potential for impressive growth and acts as a hedge against economic uncertainties, attracting those in pursuit of higher returns and wealth preservation.

To get a deep understanding of the overall cost and requirements of gold loan repayment, it is essential to calculate the interest on gold loans. Due to the convenience and accessibility of gold loans, they have become the most popular method of short as well as long-term financing.

The RBI's recent decision to relax the loan-to-value ratio for gold loans is a strategically balanced move aimed at bolstering economic growth while safeguarding the financial sector's interests. This measure is expected to positively impact the economy by enhancing credit accessibility and promoting efficient utilization of gold assets.

The entire gold loan process is very comparable to other secured loans. In this scenario, you deliver your gold items and the necessary paperwork to a lender.

The market for gold loans in India is estimated to be worth $46 billion, with informal lenders controlling the majority of the market. Those who borrow money from these lenders frequently end up paying interest at rates between 25% and 50%, which raises the total cost of the loan by nearly half of the amount borrowed as its principal.

In India, the interest rate for gold loans is influenced by the market value of gold. The value of the gold items you pledge as collateral will also be high, when the market price of gold is high.

Gold Loan with EMI option is a loan offered against gold assets. It is usually taken out for short-term financial needs such as paying off medical bills, funding travel expenses, making wedding preparations, etc.

A custom duty cut on the gold market is the reduction in the tariff or import tax that is generally imposed by the government on imports of gold. Customs duty generally refers to a particular type of tax levied on goods whenever they are imported to a country. It is determined on the basis of the weight, quantity, or value of the goods imported.

The gold rate today might rise or decline from what it was last week. Gold buyers and sellers closely monitor these price fluctuations to enjoy the best rates.