Know the key differences between mortgage and gold loans

1
Know the key differences between mortgage and
gold loans
2
Loan against property meaning

• This loan's funds are secured by real estate.
• The loan value is determined by the property's
  current value.

3
Gold loan meaning
This loan's funds are secured by precious metals
like gold or silver.
The purity of the metal is critical for loan
approval.
4
Distinctions between a gold loan and a loan
against property
5
Collateral
Gold loans are secured by silver, gold, and other
precious metals.
A mortgage loan requires land or building as
collateral.
6
Fund value

• LAP is available for up to Rs 15 crore.
• Gold loans typically provide a lower loan amount.

7
Interest rate
LAP interest rates are much lower than gold loans.
8
Paperwork
LAP documentation is a bit lengthier than gold
loans.
9
Payback period
Gold loans are available for 24 months.
LAP repayment terms can be as long as 15 years.
10
LAP is advantageous to gold loans in many ways.
Still evaluate your needs before applying for one.

• Herofincorp

11
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Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel [phone]
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
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Know the difference