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Gold loans vs personal loans: 4 factors that affect your choice

Major economies are in turmoil causing people to lose their jobs, leading to an increase in loan applications. 

Gold loans and personal loans are two of the most common loan options.

Gold loan interest rates are lower than personal loan interest rates, but credit scores are important for both.


Gold loan terms are generally shorter than personal loan terms.

Gold loans offer higher loan amounts than personal loans.

Processing fees for personal loans are usually higher than those for gold loans.


Many new fintech companies have come up making it easier to choose loan options.

Understanding the factors affecting loan acceptance and rejection is important for loan applicants.


Click here to know more about gold loans and personal loans.

Check here for more personal finance related stories.

The difference between gold loans and personal loans is far beyond their secured and unsecured nature. There are factors affecting the choice of these loans and why these loans may benefit only some and not all willing borrowers.

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Gold loans vs personal loans: 4 factors that affect your choice

The difference between gold loans and personal loans is far beyond their secured and unsecured nature. There are factors affecting the choice of these loans and why these loans may benefit only some and not all willing borrowers.

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