When money's tight, it's understandable to consider using valuable assets you own—whether it's property, a car, or even gold—to quickly generate cash and alleviate the financial pressure.
Selling a property or car might be straightforward since you bought it with that possibility in mind, but gold often carries sentimental value, making it harder to part with.
If you're in a tight financial situation but you cherish your gold jewellery too much to sell, consider the instant gold loan by Finance House to get the cash you need without saying goodbye to your precious pieces.
Here's how the instant gold loan can be your financial saviour.
Instant access to cash
Compared to traditional loans, getting approved for an instant gold loan is much faster. The rapid financing option enables individuals to access immediate cash by pledging their gold as collateral. This makes gold loans a perfect solution when in need of quick cash.
Range of needs
Borrowers can utilise the funds against the gold collateral for various purposes, including personal expenses, education, medical bills, mortgage expenses, travel plans, or to fund business ventures and fulfil working capital requirements.
No credit history
Due to its many benefits, the instant gold loan appeals to a broad spectrum of borrowers with a limited credit history. They can easily tap into this market to secure their funding. Because your gold acts as collateral, even those with low credit score can often qualify for a gold loan.
Lower interest rates
The instant gold loan offers lower interest rates compared to alternative financing solutions with a competitive monthly interest rate of 1.33 per cent.
Amount of loan
Any UAE national or resident who owns gold (18-24 carats) and is between the ages of 25 and 70 can apply for instant gold loans of Dh5,000 up to Dh200,000.
Instalments
Borrowers can either pay in equal monthly instalments between six months and four years or can opt for a flexible repayment plan with instalments ranging between six and 12 months. In addition, a two-month deferral period before the first instalment is due is also available.
Gold valuation
An expert evaluates the value of the gold based on the gold rate at the time of application. They'll examine the gold, assessing its purity, weight and current market value. Once the customer completes the paperwork, the loan is disbursed within one business day.
Collecting your gold
Once the loan amount is fully settled, customers can retrieve their pledged gold belongings.
For more details call 600 511114 or visit Finance House
