According to the World Gold Council, households in India stock up to 25,000 tonnes of gold. Gold appreciates and is a dependable asset, so it can be used as collateral to avail of an instant gold loan. Pledging gold for cash is one of the fastest ways to get liquid money. One can get a loan amounting to INR 4000 to 5000 per gram through different lender banks. This value varies depending on the purity and quantity of the jewellery.

Authenticity is the utmost important factor when considering a gold loan. Banks and financial institutions are the safest platforms for taking out gold loans without worrying about the safety of the asset. Though banks offer the loans at an industry-best interest rate, the per-gram value offered is much lower, and the strict rules dampen the borrower's goals. On the other hand, Oro Money is a registered and recognised gold loan provider trusted by thousands of families across India. Apart from the standard guidelines and framework for analysing the purity of gold, Oro Loans are very valuable for money.

Features of Oro Gold Loan

Mentioned are the salient features of the Oro Gold Loan:

• No Need to Step Out: As we know, Oro is customer-focused, which ensures that the entire loan process is condensed and highly effective. Just book an appointment, and Oro experts will visit your home to evaluate it. Once this evaluation and documentation are done, the money will be disbursed instantly.
• Fixed Rates of Interest: Oro has a rigid fixed interest rate policy, which makes the repayment process easier. You do not need to worry about the interest fluctuation
• Flexible Repayment: The borrowers can repay their debt in flexible instalments, which reduces the financial pressure of the repayment of the loan. The repayment can either be made on a monthly instalment basis or any other suitable tenure.
• No Hidden Charges: The money owed by the borrower is listed and attracts no hidden charges, hence making the process transparent.
• 100% Free Insurance: The gold pledged is 100% secure and insured against all odd risks without any additional charges.
• Repayment Reminders: Oro sends reminders on a periodic basis so that the repayment does not get missed out, making sure the customers are ahead of their dues.
• Same-Day Gold Release: Once the repayment is made, the gold pledged as security is released on an immediate basis.
• Tenure Extensions or Renewals: If the loan amount is not paid at the end of the tenure, Oro Money offers the option of extending the loan after repaying just the interest amount.

Benefits of Oro Gold Loan

Just like the evaluation of the right kind of loan is essential, it is important to select the right type of vendor. Mentioned are the benefits of the Oro Gold Loan:

• Flexible Repayment: Unlike other types of loans, a gold loan offers a flexible repayment schedule. Most loans have a monthly repayment schedule, which attracts a hefty penalty in case of late payment. However, depending on the borrower's financial commitments, the loan can be repaid either monthly, quarterly or at the end of the tenure.
• Accessibility: In India, banks retain the power to make complex rules and expansive processes. Getting a gold loan is quite simple, as plenty of online gold loan providers are available to check the quality of jewels and disburse the gold loan instantly.
• Minimal Documentation: To accelerate the entire loan process, the loan providers just ask for minimal documentation.
• Instant Cash Disbursements: Where it takes a considerable time to process documents and get the amount disbursed in case of other loans, gold loans are quite easy and effective in getting the amount disbursed instantly. Once the gold purity is checked, the loan providers tend to provide the quoted amount to the borrower without giving them the burden of multiple rules and regulations.