Discussions
What is a Gold Loan?
yesterday by nikhi g
A gold loan is a secured borrowing option. You give your existing gold jewelry or ornaments to a lender in exchange for cash.
Purpose: It helps cover immediate expenses like medical bills, education fees, business needs, or emergencies.
Advantage: You keep ownership of the gold; it is returned once you repay the loan and interest.
Interest Rate: The rate is usually lower than unsecured loans since the gold acts as collateral.