Home loan or Gold loan

POSTED BY sayaz ON September 12, 2012 1:04 pm ONE COMMENT


I have taken 10L loan against my property for my family purpose 3 years back,now there is outstanding amount of 7L. I have some gold(300 gm) with me which can be used for closing the present loan. Is it better to take loan against gold or continue the home loan which has 4 more years to complete at deminishing rate of 14%(i guess). Please help me to find a solution to get through.

One reply on this article “Home loan or Gold loan”

  1. Dear Sayaz, instead of opting gold loan, please sell a part of your existing gold to clear of this 14% ROI loan. I seriously doubt that you may get gold loan cheaper than your existing loan.



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