One of Priyanshi Associates' well-known specialties is Gold Loan Services. Banks and other lending institutions can easily offer these loans because actual gold is used as collateral for them. Lending against gold is a safer option for banks because they can easily sell the gold in the event of a default by the borrower. Banks frequently disburse these loans within a few hours as a result. Borrowers will have more convenience due to the quicker processing time. A common special clause in gold loans enables the borrower to repay the loan with just the interest. The principal component may be paid at the end of the loan term or during the loan closing process. In comparison to unsecured loans like personal loans, banks charge a lower interest rate on secured loans like gold loans. Interest on gold loans ranges from 13 to 14%. However, the interest rates on personal loans typically range from 15% to 20%. Borrowers who can provide more security will have their interest rates on gold loans reduced by the bank.
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