Several times I approached the Finance for getting gold loan .The State Bank of Travancore now merged into the State of India, Canera Bank, Catholice Syrian Bank are also situated near by this Finance. Gold Loans are available in all these Banks. Then why should I to this finance institution for getting loan? The reasons are manifold .
The first reason is that of speedy disposal . The second one is the cordial attitude of the Staff. The third one is high gold loan amount rates compare to the schedule Bank.The fourth one is speedy release of the gold article after repayment .
Even though these are the advantages, the interest rate for gold loan is very high compare to the Bank controlled by the Government of India.
My advice to the customers is that if you need huge amount strait away go the scheduled Bank listed above . If your gold loan amount is tiny one and for a short duration of time [ one month] then only approach to the Muthoot Finance. If it is for a longer period their traffic rate for interest will change from time to time and also periodic inspection of the gold ornament will cause disfiguration to new ornaments .