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  • Loan; Personal Loan; FD; Gold Loan; A You Can Also Deal With The Money Related Problem By Taking A Loan At A Low Interest In Lieu Of Gold Or FD.

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New DelhiA minute ago

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Many people take a personal loan when money is needed. But getting a personal loan is not easy and you also have to pay more interest in it. If you too are thinking of taking a personal loan but are having trouble getting a loan or are getting a higher rate of interest, then you can arrange for money in other ways. You can get a loan on gold loan or fixed deposit (FD) easily and at low interest. Today we are telling you about 5 such methods.

Getting 7.50% interest Gold loan
Most banks in the country, including the country’s largest bank State Bank of India (SBI), have introduced the facility of personal gold loans. Under this, the customer can take a loan by keeping gold. SBI is offering loans up to Rs 20 lakhs at an annual interest rate of 7.50. Apart from SBI, banks including Bank of India, Punjab National Bank and Bank Baroda are also offering gold loans.

Top-Up Home Loan
You can also take a top-up loan from the bank to meet your money needs. This loan provides you money at a lower rate of interest. If you have taken a home loan, you can easily talk to the bank and get it top-up on that loan. The interest rates of top up loans are slightly higher than home loans but lower than personal loans.

You can also take a loan on credit card
Credit card issuing financial institutions give credit to cardholders based on their card type, expenses and repayments. Once a cardholder avails this loan, his credit limit will be reduced by that amount. However, some lenders give more than the fixed credit limit and loan against the credit card. If you also use a credit card, you can take a loan on it.

Loan against property
You can take a loan on your house or other property. The interest rate starts at around 8.95% and it depends on the lender, loan amount and the credit profile of the applicant. The tenure of the loan can go up to 20 years. How much loan will be given depends on the credit score of the borrower and the value of the property.

Can take loan on FD
If you have a fixed deposit (FD) you can take a loan on it. To get loan on this easily and at low interest rate. There are many banks which are giving loans at less than 6% interest on FD. If you take a loan on FD, then you will have to pay 1-2% more than the interest on FD. For example, if you are getting 4% interest on your FD, then you can get a loan at 6% interest rate. You can take a loan up to 90% of the value of FD. Suppose your FD is worth 1.5 lakh rupees, then you can get a loan of 1 lakh 35 thousand rupees.

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