Latest news with #GoldLoan
India Today
3 days ago
- Business
- India Today
Stalin welcomes Centre's response to RBI gold loan row, urges state consultation
Tamil Nadu Chief Minister MK Stalin on Friday welcomed the Union government's response to the concerns he had raised over the Reserve Bank of India's (RBI) draft directions on gold loans and reiterated the need for prior consultation with states on policies affecting the poor.'Glad to note that @FinMinIndia has responded to the concerns raised by me in my letter to the Hon'ble Union Finance Minister regarding @RBI's draft guidelines on gold loans,' Stalin said in a post on social media platform X. advertisementHe further said, 'Protecting the interests of small borrowers, especially those seeking loans below Rs 2 lakh such as farmers and daily earners and ensuring timely and accessible credit has been my consistent demand.' 'While appreciating the positive consideration given to this issue, we emphasize that such policies having significant impact on poor should be arrived after due, prior consultation with States,' the Chief Minister said in the post. The response came after Stalin wrote to the Union government on May 28, voicing concern over the proposed RBI guidelines, which he said would impose undue restrictions on gold loans and hurt access to credit for poor and middle-class the letter, Stalin had emphasised the cultural and financial importance of gold among the people of Tamil Nadu, stating: 'Our people are simple, dignified, and resilient. Even when all they have is half a rupee, they save it carefully, adding to it bit by bit, until they can buy a single gold bead. Not for show. Not for luxury. But for emergencies—moments when there is no one else to turn to. This is not ornamental gold. It is their shield against life's uncertainties.'Criticising the RBI's draft regulations, he wrote, 'Today, the RBI has proposed needless restrictions on gold loans, making it harder for poor and middle-class families to access credit with self-respect. This is not merely a regulation. It is a blow to their dignity and survival.'Referring to the growing menace of predatory lending, Stalin added, 'At a time when many are already caught in the cruel grip of #LoanSharks and forced into #LoanApps during times of desperation, is it fair to push them further into those traps instead of protecting them? I respectfully urge Hon'ble @nsitharaman and the @RBI Governor to ease the rules on #GoldLoan. Let our people pledge their hard-earned gold with dignity.' IN THIS STORY#Tamil Nadu
Fashion Value Chain
15-05-2025
- Business
- Fashion Value Chain
Unlock Lower Gold Loan Interest Rates: Bajaj Finance Shares Tips to Save on Borrowing Costs
A gold loan is a simple way to borrow money by pledging your gold jewellery. Many people choose this option when they need quick funds for personal or emergency needs. Since gold loans are secured, they usually come with lower interest rates compared to personal loans. Understanding how gold loan interest rates are calculated can help you make better borrowing decisions and save money in the long run. Bajaj Finserv Gold Loan offers a simple borrowing process with competitive interest rates, making it a reliable and affordable option for those seeking quick funds. Bajaj Finserv Gold Loan What is a gold loan interest rate The gold loan interest rate is the amount charged by the lender on the borrowed sum. It depends on factors like the loan amount, repayment period, and the purity of the gold you pledge. Bajaj Finance offers gold loans starting from Rs. 5,000 to as high as Rs. 2 crore, with flexible tenures of 1 day to 12 months. Interest rates can range between 9.50% and 24% per annum. Tips to lower your gold loan interest rate Securing a gold loan can provide quick financial relief, but managing the interest rate is crucial for keeping overall costs down. Here are some effective tips to help you reduce your gold loan interest rate: Choose a shorter tenure : Opting for a shorter repayment period can significantly lower your overall interest charges. With a reduced loan tenure, lenders usually offer lower interest rates, as the risk is spread over a shorter time frame. Pay interest regularly : If you make regular payments towards your interest, such as on a monthly or bi-monthly basis, it can help you reduce the compound interest that accrues. Staying punctual with payments ensures you avoid penalties and interest accumulation. Make part-prepayments: Making part-prepayments towards your loan can lower your principal balance. By reducing the outstanding principal, you decrease the amount of interest charged over the loans life, leading to significant savings. By adopting these strategies, you can effectively manage your loan and keep interest rates low, making your gold loan more affordable in the long run. Importance of gold rate per gram The gold rate per gram is a key factor in deciding your loan amount. The higher the gold price, the more you can borrow. Bajaj Finance values your gold based on current market prices, gold purity, and weight, and then offers a loan accordingly. So, when gold prices are high, you may get a better deal. To make things easier, you can use the Bajaj Finserv Gold Loan Calculator to check how much loan amount you may be eligible for. It helps you plan better by giving a quick estimate based on the gold rate per gram and gold purity you enter. Simple and quick application process Getting a gold loan from Bajaj Finance is quick and easy: Click on 'Apply' to initiate online application. Enter your 10-digit mobile number and click on 'Get OTP.' Submit the OTP to verify your identity. Fill in your personal details and select the nearest gold loan branch. Download the loan eligibility letter After evaluating the gold and verifying your documents, your loan is approved and disbursed, usually on the same day. Final thoughts A gold loan is a simple and smart way to meet urgent financial needs. With the right plan, you can keep your gold safe, get money when needed, and repay at your pace. Bajaj Finance offers competitive gold loan interest rates, easy processes, and the flexibility you need. Keeping track of the gold rate per gram and making timely payments can help you save more in the long run. To learn more or to apply for a gold loan, visit the nearest Bajaj Finserv branch or apply online today. T&C Apply. About Bajaj Finance Limited Bajaj Finance Ltd. ('BFL', 'Bajaj Finance', or 'the Company'), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 80.41 million customers. Bajaj Finance has a credit rating of AAA/Stable for its Fixed Deposit program from CRISIL and ICRA, AAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA, and A1+ for short-term borrowing from CRISIL, India Ratings and ICRA. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings. To know more, visit
Emirates 24/7
23-04-2025
- Business
- Emirates 24/7
Unlock the Power of Your Gold with Instant Cash
Life is full of surprises, whether it's an unexpected expense, a business opportunity, or a personal milestone, having quick access to cash can make all the difference. At Finance House, we offer a smart solution that allows you to tap into the value of your gold, without giving it up. Finance House Gold Loan is a simple, fast, and secure way to access funds when you need them most. With minimal paperwork, generous loan amounts, and flexible repayment terms, this loan offers the perfect balance between convenience and security. Why Opt for Finance House Gold Loan ? Your gold is more than just an ornament or investment, it's a powerful financial asset. Finance House Gold Loan helps you unlock its value instantly, while you retain ownership of it. Here's why customers choose Finance House Gold Loan : 1. Get Cash Without Selling Your Gold There's no need to part with your valuables. You can pledge your gold as collateral and access funds up to AED 200,000, based on its weight and karat. Your gold remains in secure custody and is returned to you once the loan is repaid. 2. Quick and Hassle-Free Process Time is valuable, and so is your peace of mind. That's why we have simplified the loan application. With just your Emirates ID, Passport/Visa copy, and your gold items, you can apply and receive funds in as little as 24 hours. 3. Flexible Repayment Options Choose a repayment method that suits your financial situation: Monthly instalments , or , or One-time bullet payment at loan maturity To help you ease into repayment, we also offer a two-month grace period before your first instalment is due. 4. Generous Loan Limits Borrow from small amounts to as much as AED 200,000, depending on the value of your gold. Whether it's jewellery, coins or bullion, our expert evaluators will ensure a fair appraisal and competitive loan offer. How It Works: Simple, Fast, Reliable Getting started is easy with our streamlined 4-step process: • Step 1: Visit a Branch Drop by any Finance House branch in Abu Dhabi, Dubai, or Sharjah. • Step 2: Submit Gold & Basic Documents Bring your Emirates ID, Passport/Visa copy, and gold items for evaluation. • Step 3: Quick Evaluation and Approval Our team will assess your gold's value and process your application. Upon approval, funds will be disbursed within 24 hours. • Step 4: Select Your Repayment Plan Enjoy flexible repayment terms of up to 48 months, customized to your needs. A Practical Financial Solution You Can Trust With Finance House Gold Loan , you don't have to sell your gold to benefit from its value. It's an ideal choice for those seeking quick liquidity without giving up long-term assets. Whether you're facing an emergency, investing in your goals, or planning for life's next chapter, Finance House Gold Loan offers you fast access to cash, backed by the strength and trust of Finance House. For more details or to apply, visit or call 600 511114. Follow Emirates 24|7 on Google News.
