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Gold loan: Low-cost option and credit score no bar, say experts

If the price of gold plunges, a borrower can be asked to put up additional collateral

Topics
gold loans | Your money | Gold loan charges

Sanjay Kumar Singh 



gold loan, gold financing, gold financier
Take gold loan from a bank or a non-banking financial company (NBFC) regulated by the RBI.

is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India’s (RBI’s) data.

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First Published: Fri, April 15 2022. 06:10 IST

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