Financial FAQs for Loans

Gold loan repayment periods usually span from a few months to a few years. The exact duration, however, may vary based on factors such as the financial institution’s terms, the loan amount, and the borrower’s financial circumstances. It's important to review the terms and conditions provided by the financial institution to understand the available options.

To increase your business loan eligibility, focus on these key areas:

While a credit score of 650 is generally considered good, it may not guarantee approval for a business loan in India. Financial institutions often consider factors beyond credit scores, such as your business's financial health, industry, and repayment capacity.

However, a higher credit score can improve your chances of securing a loan with favorable terms. Consider these strategies to increase your chances:

The minimum and maximum amounts for a gold loan depend on several factors, including the financial institution's policies, the weight and purity of the pledged gold, and applicable local regulations. Generally:

Yes, you can use a business loan for working capital management. Many financial institutions offer specific working capital loans designed to cover day-to-day operational expenses, such as inventory purchases, payroll, and utilities. These loans provide quick access to funds, helping businesses maintain smooth operations during cash flow gaps. Ensure you choose a loan with terms that align with your business’s cash flow needs and repayment capacity.

There are several ways to secure a business loan without using a mortgage in India:

Yes, it is often possible to get a gold loan without a bank account. Many financial institutions provide flexible options, such as disbursing the loan amount to a nominated beneficiary or through cash payment. However, having a bank account can simplify the process and may provide additional benefits. It’s advisable to check with the specific financial institution for their available options.