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Gold prices

Gold prices are close to an all time high. Is this a good time to unlock the value of your holdings in gold and take a loan against gold? If you are in need of gold, you might be able to borrow against it. Here we explain to you the basics of gold Loans.

What are gold Loans?

Many people have assets such as gold ornaments and jewellery that earn no income because they lie idle at home or in a locker. If you are in need of a loan, and if you are confident of your ability to repay the loan on time, you can unlock the value of these assets by taking a loan against gold.

You offer the lender your gold. The lender gives you a loan against your ornaments after a quick evaluation of its purity. The lender will usually not give you the loan up to the full value of the loan, but generally you can get up to 80% of the value. You pay interest on the loan. At the end of the loan, you repay the loan and can take your gold back from the lender.

How can I get a gold Loan?
You can get a gold Loan through either your bank or through a non-banking company that specializes in loans against gold.

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