INTERVIEW QUESTIONS LOAN GOLD LOAN DETAILS

Question: What is the LTV for gold loans?

Answer: The Reserve Bank of India has barred NBFCs from offering a loan to value ratio exceeding 75%. So if you are mortgaging a gold jewelry worth Rs. 1 Lakhs you can at best get a loan of only up to Rs. 75,000. Add to it the loan processing fee and other charges thereby reducing the final amount you can get in hand.

The Reserve Bank of India has barred NBFCs from offering a loan to value ratio exceeding 75%. So if you are mortgaging a gold jewelry worth Rs. 1 Lakhs you can at best get a loan of only up to Rs. 75,000. Add to it the loan processing fee and other charges thereby reducing the final amount you can get in hand. Source: CoolInterview.com

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