Things to see before taking a gold loan

All thanks to the government for opening up the economy and encouraging people to bring out their gold and gold ornaments to the market and get funds to carry out their dreams and necessities. Getting a gold or jewelry loan today is very easy as authorized gold loan companies complete all formalities related to the lending within a few hours of application.

However, while everything looks so easy, you should not forget basic precautions that you must exercise while taking a gold loan. Although, Rupeek finance and other gold loan companies have become organized and have to work in accordance with government regulations, even then if you are not cautious enough, you may stand to lose out on many aspects.

Some of the basic precautions that you should exercise are given as under:

Price per gram of gold:

This is an important aspect in the gold loan scheme. Many gold loan companies offer attractive interest rates but pay very little price per gram of gold for your asset. Price per gram is important as it affects the total valuation of your gold and also the amount of loan that you can access from the company on the asset.

Higher price per gram of gold means higher valuation of your gold and consequently higher loan amount for the jewelry.

Interest:

Interest is the second important issue in taking a gold loan. All companies and banks that operate in giving gold loan against gold jewelry charge different rate of interest and have different terms and conditions for providing the service. Most companies charge competitive interest rates for the loan but have very tough terms and penalties for skipping of interest payments.

You must thoroughly compare interest rates of different companies along with their terms and conditions before settling for a gold loan with a company.

Customer care and after sales:

There can be issues regarding certain terms or interest payment at any time during the repayment tenure. Therefore you must verify customer care services of different companies to analyze the quality of their service and customer service. Rupeek customer care is one of the best in gold loan trade and once you call them for a request of gold loan, you can find them at your place within a very short time.

Transparency:

Transparency is a major issue in gold loan business. Many companies in the space are not transparent about their terms and conditions. They say something on their website or advertisements and charge something else when customer turns up for loan.

However, if you secure an easy gold loan from Rupeek fintech, you are not only briefed about all the aspects concerning your loan, but you also get Rupeek calculator on their website to calculate and check whether Rupeek finance has paid you what they say or not. Their customer care is extremely helpful and will guide you to their best scheme according to your loan amount and financial position. So, when you are looking for the best value for your gold, contact Rupeek.