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Interest on Gold

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Can i get some advantage from the gold jewellery that i have ?

I don't want to sell them, i just can't see them in lockers. Also, i should be able to get them back as it is upto my own discretion.

I have heard about some institutions offering loans against gold.
asked Nov 20, 2011 in Banks & Fixed Deposit by hi_ag (1,750 points)   3 13 22
    

 
 

 

1 Answer

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Yes, you can get loan against Gold via banks like HDFC or NBFC like Muthoot Gold Finance. The interest rates may vary slightly. But keep in mind what will you do with that loan. Investments with loan amount is not recommended. Take this Gold loan option ONLY when there is some financial emergency. Also, for future, it's better to invest via Gold ETF or Gold MF to avoid lockers and to be more safe.

Hope it will help you.
Admin
http://www.InvestmentKit.com
answered Nov 20, 2011 by admin (47,740 points)   5 7 13

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