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In the dynamic and ever-changing world of financial services, Glided financing shines as a beacon of opportunity for individuals seeking to unlock the value of their gold assets. This unique avenue empowers individuals to harness the intrinsic worth of their gold possessions to access vital funds through collateralization. In this comprehensive blog, we embark on a journey through the realm of Glided financing, shedding light on the mechanisms that underpin securing financing against gold assets. We will navigate the myriad benefits that Glided financing affords, and illuminate the step-by-step process that individuals traverse to obtain loans backed by their precious gold holdings.
Glided Financing Explained:
Glided financing, also known as gold loan financing, is a financial product that enables individuals to borrow money by pledging their gold assets as security. This form of financing has gained traction due to its simplicity and accessibility. Lenders accept a variety of gold items, including jewellery, as collateral for these loans.
Securing Financing Against Gold Assets:
When individuals opt for Glided financing, they offer their gold assets as security to the lender. The value of the loan is determined based on the purity and weight of the gold pledged. The gold is securely stored in RBI-approved lockers to ensure its safety throughout the loan tenure.
Features and Benefits of Glided Financing:
- Customers have the flexibility to apply for a gold loan either at home or by visiting a branch.
- Loans are disbursed promptly, with funds transferred to the borrower’s account upon approval.
- There are no pre-closure charges, allowing borrowers to retrieve their gold upon repayment of the loan amount and accrued interest.
Product Variants and Requirements:
Glided financing schemes vary based on the borrower’s loan requirements and the desired duration. The minimum and maximum loan amounts differ depending on whether the application is made at a branch or through a home visit. Additionally, borrowers must provide KYC documents, a cancelled cheque for bank verification, and processing fees where applicable.
Muthoot Fincorp, the primary partner offering gold loan with Airtel Finance, simplifies the loan process for customers. Eligible Indian residents aged between 21-65 years can avail up to 75% of their gold value without the need for income proof or credit checks. The gold is securely stored in Muthoot Fincorp branches, ensuring its safety throughout the loan term.
FAQs:
1. How do I qualify for this loan?
To qualify for a gold loan with Muthoot Fincorp, individuals must be Indian residents aged between 18-60 years and possess gold of purity ranging from 18 to 24 carats. Eligible residents can avail up to 75% of their gold value without the need for income proof or credit checks.
2. How long does it take to complete the loan process?
The loan process with Airtel Finance in association with Muthoot Fincorp is swift and efficient. Upon online application, a loan manager will visit the borrower at home for evaluation, with funds transferred within 30 minutes. Alternatively, borrowers can visit a branch for instant approval and disbursement on the same day.
3. How is my gold securely saved?
Airtel Finance ensures the security of pledged gold assets by insuring them from the moment of collection. The gold is also securely stored in RBI-approved lockers to ensure its safety throughout the loan tenure.
4. What documents do I need to apply for this loan?
Applying for a gold loan with Airtel Finance, in association with Muthoot Fincorp requires minimal documentation, including identity and residence proofs, and a cancelled cheque. Accepted identity proofs include Aadhar Card, Voters ID, Passport, or Driving License, while address proofs encompass various official documents. You can download the Airtel Thanks App to start the process.
5. How much can I borrow with this loan?
There is no maximum amount when you borrow from Airtel Gold Loans. The loan amount available to borrowers is determined by their gold assets and requirements. Amounts under ₹1 lakh can be obtained by visiting a branch, while higher amounts can be availed through the gold loan home service.
Conclusion:
Glided financing presents a convenient and efficient means for individuals to access funds by leveraging their gold assets. With competitive interest rates, flexible repayment options, and robust security measures, Glided financing offers a compelling financial solution for those seeking immediate liquidity while retaining ownership of their valuable gold assets.
