In today's times, everyone is leading a busy life and convenience is of the utmost importance for people. From food to clothes, furniture to electronic items, almost everything can be delivered right to your doorstep. The same goes for several financial services, including gold loans. Nowadays, the concept of doorstep gold loans is gaining huge traction due to the convenience they offer to borrowers during emergency situations.
A Closer Look
Similar to conventional gold loans, an at-home gold loan service is also a financing option where funds can be obtained by pledging gold ornaments. The only difference is that with this type of loan, borrowers do not have to step out of their homes for completing the procedure. As the name suggests, borrowers can apply online and get their gold ornaments evaluated to avail of a gold loan at doorstep. These loans are available at competitive interest rates and come with flexible repayment options as well.
Keeping the convenience of borrowers as the topmost priority, many banks and non-banking financial companies (NBFC) offer an at-home gold loan service. Mentioned below are some reasons why it has gained popularity in 2023.
1. Simplified Application
While availing of an at-home gold loan service, a borrower can submit the application online. This eliminates the need for a physical visit to the branch.
2. Quick Disbursal
Another good thing about opting for an at-home gold loan is the quick loan disbursal process. Since everything is done online, the turnaround time is less as compared to traditional gold loans.
3. Flexible Repayment
Doorstep gold loans come with flexible repayment options. You can choose the loan tenure as per your convenience and your preferred mode of payment. Some of the common options available for loan repayment include credit cards, debit cards, UPI, net banking, etc.
Due to the increasing popularity of gold loans in 2023, several financial institutions (banks and NBFCs) are offering quick doorstep gold loans at lower interest rates. With Muthoot Finance’s loan-at-home facility, you can avail of a gold loan in a hassle-free manner.