Things to Keep in Mind Before Applying For Gold Loan And Personal Loan

Here are sure checkpoints to assist you with benefiting the ideal loan choice as far as cost and quick access:


  • Loan amount
    The loan amount will basically rely upon your pay, tenure, the loan type, and the estimation of the pledges submitted assuming any. For instance, the loan amount in the event of a standard loan against a credit card will simply be the extent of your endorsed credit limit.
    Be that as it may, many credit card backers have begun offering loans once again or more your credit limit. The loan amount if there should be an occurrence of ordinary personal loans can run between Rs 50,000 and Rs 40 lakh, contingent upon your reimbursement limit. On account of gold loan, the loan amount can go up to 75 percent of the estimation of the gold swore with the moneylender.
  • Processing time
    As money related emergencies require snappy admittance to reserves, loans requiring longer turnaround time for disbursals may not end up being a lot of value. Loans against a credit card, gold loan, and personal loan have the speediest processing and disbursal among the different credit choices.
    While loans against credit cards and gold loans are normally prepared around the same time of a loan application, a personal loan may take around 2 to 7 days for disbursals. In any case, a few moneylenders guarantee to dispense personal loans around the same time of utilization.
  • Interest rate
    The interest rates of your financing choices will essentially rely upon the sort of loan you decide on and your credit profile. Typically, made sure about loans have lower interest rates than the unstable ones. Also, those with a decent credit score and utilized with presumed corporates have higher odds of benefiting loans at lower interest rates.
  • Processing charges



Gold loans accompany one of the most reduced processing charges among all loan choices. A few banks charge a level processing expense of as low as Rs 10 on their gold loans though others charge anyplace between 0.10 percent and 2 percent of the loan amount as a processing charge. Fullerton India processing fees is up to 6% of the whole loan amount. This is a one-time charge which will be obviously referenced in the loan understanding. This amount is the personal loan ROI for all the administrations including loan application, record confirmation, legitimate methods, client care, and different administrations engaged with processing the loan

  • Loan tenure
    The tenure of your loan assumes a significant part in deciding your EMI and by and large interest cost. Longer tenure would mean lower EMI yet would prompt higher interest cost and the other way around. Personal loans and loan against credit cards typically accompany loan tenures of 1-5 years.

Fullerton India’s personal loan interest rates start at 11.99% for salaried and independently employed candidates for a limit of 60 months, which implies you can get EMI as low as ¹ 2,224* every month. The interest rates and processing charge (Between 0% – 6% of the loan amount) compensate for the complete cost of the loan.