Need Urgent Financial help? Gold can help you

Need Urgent Financial help? Gold can help you

You save consistently to build a corpus to reach your important financial goals. You often surprise your family members with gifts, thanks to that yearly bonus. You have been toiling hard to take your business to new heights. In any situation, you never shy away from doing what’s best for your family or business. But sometimes with the cashflow getting adversely affected due to emergencies like the Coronavirus pandemic, financial stress can become an unavoidable reality.

In such circumstances, the need for money becomes urgent. Although there are many options available, from personal and auto loans to credit cards, depending on your need, urgent loans online may be a better bet. Online gold loans are one such option available. They require fewer loan documents, are quick, and can be applied for from anywhere.

Why is Gold Loan the Best Choice?

Among all the types of loans available, Gold finance is one of the most viable options. In today’s time, it is easier to get access to instant gold loans as the process to apply for gold loan is felicitated online. What makes gold loans such an attractive credit source? We take a look at six important reasons.

1. Quick Processing & Instant Disbursal
   Online gold loans are one of the few loans in India that have minimal documentation needs and act as pillars of strength in case of urgent financial needs. Generally it’s a very simple 3 step process:
   • Finish the KYC process on the company's Instant loan app or website
   • Submit the physical gold as security to the financial institution,
   • Get instant access to the loan amount via cash or by bank transfer to your account.
   With Niskha Finance, your instant gold loan funds will be released within 30 minutes from the comfort of your home following your loan application, if not instantly! Our trained executives will guide you through the interest rate, tenure options available and the terms and conditions so that you have the complete picture of our transparent processes.

2. Low-Interest Rates
   Since Gold loans are security backed loans or secured loans, they attract lower interest rates. Unlike other loans such as Personal Loans etc. here lenders have a backup (i.e. the gold ornaments) to fall back on in case of defaults . The gold ornaments can be auctioned to recover the loan dues, which is why they attract lower interest rates. In urgent scenarios online gold loans with lower interest rates can help you avoid a debt trap as a borrower. It lowers your interest burden, saving you from taking on additional loans in the future to repay this loan.
3. Higher Loan-to-Value
   LTV or Loan-to-value refers to the loan amount you can avail in relation to the value of gold ornaments. Gold loans offered by Banks typically have a loan-to-value ratio of 65%, while NBFCs like us offer 75%. This means that if you pledge gold ornaments worth Rs.1,00,000, you can get a loan of up to Rs.75,000 without selling your gold. If you are interested in knowing your Gold Loan Eligibility, your our Niskha Gold loan calculator.
4. Easy Repayment Options
   When you have to apply for an urgent online gold loan, it is often because you do not have money to meet your urgent financial needs. Online gold loans give you multiple repayment options that can suit your financial status. You can choose to pay in EMI Mode if you want to make routine re-payments, else you could choose the bullet repayment option where you make interest payment at your convenience and pay the principal amount at the end of the loan tenure in one shot. At Niskha Finance, you can also choose to repay in 1 day or 1 year, no questions asked, plus all gold loan repayments can be done online, making the whole process simpler.
5. No cumbersome Documentation & Income Proofs
   One of the biggest advantages of an instant online gold loan is that you are free from cumbersome documentation such as submission of Income proof, educational qualification, Credit scores etc. While other loans like personal loans will require you to produce proof that you can repay the borrowed sum, gold loans are backed by your ornaments. In case you do not have a strong income proof to show and still want to avail a loan, online gold loans can come to your rescue.
6. No CIBIL Score Required
   Since Online Gold loans are backed by Gold Ornaments, they are not dependent on your credit score – the three-digit number that is generally considered a representative of your financial health and credit worthiness. No matter if you are placed in the 300-800 range of the CIBIL score or you do not have a CIBIL Score at all, you can still apply for an online gold loan. This is something that is not possible with any other loan, personal loan or a home loan. To avail those loans, you have to have a good CIBIL score.
7. Safe. Just Like Your Lockers.
   Once you submit your gold as collateral to the lender, it is completely safe, just like it stays in your lockers. But unlike the lockers where you end up paying some maintenance charges every year, the gold loan company does not charge you any extra fee for safely storing your precious ornaments. Additionally, Banks & NBFCs have insurance covers that will come to your rescue in case of any unfortunate incidents, so your gold is completely safe with the gold loan company. Instead of lying dormant in your locker and you paying for the maintenance, online gold loans are a safe option while helping you manage your urgent financial needs.

How Can Niskha Finance Help?

Niskha Finance is one of the leading online gold loan companies in India. Our services are designed to meet all your urgent financial requirements. Our Online Gold Loan process is hassle free and quick with processing to support you during an emergency.

We also provide doorstep services to make the loan process as convenient as possible for you. With the lowest interest rates and highest loan-to-value (LTV) ratios in the market, and multiple repayment options available, Niskha Finance’s online gold loans will allow you to apply for a loan from anywhere, at any time, completely worry-free.