Today's Gold Rate: ₹5,521.00/gram
A gold overdraft is a type of loan facility that allows you to borrow money against your gold holdings. This type of loan can be beneficial in many ways, as it offers several advantages over traditional loans. Here, we will explore the benefits of a gold overdraft and why it can be an excellent choice for individuals looking for quick and hassle-free financing. 1. Quick and easy approval One of the significant benefits of a gold overdraft is that it is relatively easy and quick to obtain. Unlike traditional loans, which may require extensive documentation and credit checks, a gold overdraft only requires you to pledge your gold as collateral. This makes the process much faster and more straightforward, and you can receive the funds you need within a short period of time. 2. Low-interest rates Gold overdrafts typically come with lower interest rates than other types of loans, making them an affordable option for individuals in need of funds. The interest rate for a gold overdraft is usually calculated based on the amount of gold pledged as collateral, and the loan amount typically ranges between 70 and 80% of the value of the gold. 3. No impact on credit score Another significant benefit of a gold overdraft is that it does not impact your credit score. This is because the loan is secured against your gold, and therefore, your creditworthiness is not a factor in the approval process. This means that even if you have a low credit score, you can still qualify for a gold overdraft and receive the funds you need. 4. Flexible repayment options Gold overdrafts typically come with flexible repayment options, allowing you to pay back the loan on your terms. You can choose to make the minimum monthly payment or pay off the loan in full at any time without any penalty. This flexibility can help you manage your finances better and avoid defaulting on the loan. 5. No restrictions on usage Gold overdrafts offer a high degree of flexibility when it comes to the usage of funds. A gold overdraft allows you to use the funds for any purpose, including emergencies, business investments, or personal expenses. A gold overdraft is an excellent option for individuals looking for quick and hassle-free financing. It offers several benefits, including low interest rates, no impact on credit scores, flexible repayment options, and no restrictions on usage. However, it is important to note that while a gold overdraft may be a good choice for short-term financing, it is not a long-term solution and should be used responsibly. KLM Axiva Insta Money Gold overdraft KLM Axiva Gold overdraft is a credit facility offered by KLM Axiva Finvest Ltd. to its customers. KLM Axiva Gold overdraft allows customers to withdraw money from their accounts anytime, anywhere, as needed, by using their gold assets. KLM Axiva Gold overdraft comes with online account access, allowing customers to track their transactions, view their account balance, and make payments online.
How can I help you ?