Since gold loans require physical gold as collateral, banks and other lending institutions are willing to make such loans. Lending against gold is a safer option for banks because they can easily sell the gold if the borrower defaults. As a result, banks typically disburse such loans within a few hours. This results in a shorter processing time and, as a result, greater convenience for borrowers. As a secured loan, gold loans typically have lower interest rates than other financing options such as personal loans, home loans, or other secured loans. Because gold loans are backed by physical gold, they have fewer eligibility requirements and require less documentation. This allows lenders to process loans more quickly. Gold loans are also known as 'ATL,' which stands for 'anytime liquidity.' This means that, unlike other financing options, you can get a loan in less than 30 minutes without having to fill out a lot of paperwork. This feature allows you to obtain an immediate loan against gold whenever you need it.
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