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Overdraft facility against gold cheaper than term loan, say experts

Opt for overdraft facility if you have a recurring need, a term loan if you require a lump sum

Topics
gold loans | NBFCs | Gold loan charges

Bindisha Sarang 



gold loan, gold
Gold loan.

loans were a key source of funding for those who found themselves in financial distress during the Covid-19 pandemic. According to the Reserve Bank of India data, the outstanding loan in this category stood at Rs 62,926 crore on August 27, registering a year-on-year growth rate of 66.2 per cent - the fastest among all categories of loans given to individuals.

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First Published: Mon, October 18 2021. 21:04 IST

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