Gold loans are secured loans where borrowers can pledge their gold articles as collateral. This type of loan is particularly attractive for individuals or businesses in need of quick access to funds without having to sell their gold assets.
Express Finance offers gold loans for various purposes, such as meeting personal or business expenses, funding educational costs, or financing short-term working capital needs. The loan amount is determined by the weight, purity (ranging from 18 to 24 carats), and current market value of the pledged gold.
To obtain a gold loan, borrowers must submit their gold articles for evaluation and verification by Express Finance’s authorized appraisers. The loan amount is typically a percentage (e.g., 80%) of the gold’s value, providing a safety margin for the lender.
Gold loans generally have shorter repayment tenures, ranging from a few months to a year or two. Borrowers can repay the loan amount along with the accrued interest to reclaim their pledged gold articles. Click here to apply Now
