Are you stuck with your gold loans? Are you tired of paying interest from your loans? This can be sickening to see such incidences. And how would feel when we tell you that, we see this every day. Clients come to us with the problems of their finances and ask us for an easy solution to them. But that might come out quite strong and a harsh solution when it comes to finances. Gold loans don’t give you a relief in any instance to perform other activities and keep you busy for it with stress.
Gold loans aren’t easy to get rid of. If you have assumed to get back the valuables as they were then you might be wrong in the first place. For every month the customers have to be active with their interest every month. And in any case, if you miss a one-time payment, then it will convert into compound interest. About all these, the bank might not inform you of all the details before taking a signature of the document. Although the details might be different for every bank mostly they are the same.
The bad sides of the gold loans are they never offer the complete price and pay around 60% to 70% of the actual value of the items you wish to pledge. Most importantly, you might never find out until you research for yourselves. Again, not every bank are similar, SBI offers quite better than rest but a loan is always the same.
There is news when the customer was not informed of the outstanding payment of the loans and after 2 months the customer was sent a notice from the states’ police. After severe investigation, the case was dismissed as a scene of misunderstanding from the part of the bank.
If you want another point to not go for such a loan then you must know that the buyers of the bank would not inform you for any profit if the valuable has gained its price and would seize your items if the value has losses its price. And for everything, you would not be informed and the items would be seized or taken from you without any prior notice.
If you are still not convinced then we at cash against gold have been offering our help to any customer who is in need of help for improving their economic status. For some time now we have been releasing pledged gold in Noida, Delhi and Gurgaon and precious metals from the banks by paying them the exact value the bank has offered. We inform the customer of the current value of the items we buy if the items have gained the price, we pay for the extra and if the price has decreased then we don’t ask you to pay for it. This would ultimately stop the regular monthly stress and give you time to think for the future with positiveness.