Do you know what my monthly fees in school was? I used to study in a convent school and paid a princely amount of Rs 250. In class 11 and 12, the amount was raised to Rs 500 and along with some other extra charges, it probably added up to around Rs 1000 if not less. In college, I paid Rs 75 monthly. Yes, you read that right! I studied at Kolkata’s best college for arts and science and that is the amount I paid because it was a government college. For my Masters, I moved to Delhi and there the amount increased to about Rs 2000. So yes, my education was a rather affordable affair for my parents. However, this is not the case with everyone nowadays. I was recently talking to parents of a young boy who harbours hopes of becoming a doctor. Joint Entrance exam is never a guarantee so they have been enquiring about courses in other colleges where their son can study and can you believe what the admission fees are like? Nearly 90 Lakhs! And you have to give it in cash at one time! No EMIs! It sounds crazy but that is the current higher education scenario in India with the mushrooming of these private colleges. You either pay or see your child’s hopes get shattered.
What do you do in such a situation? Yes, you can take a personal loan but that comes with high interest rates. Or, you can look at the gold lying idle in lockers as an opportunity for funding. One name that is the foremost in the Indian gold loan service provider market is Muthoot Finance. With their gold loan services, it takes no more than a few minutes for your gold to generate cash. Anyone above the age of 18 with gold ornaments can avail the loan. Just walk into any of their branches and inform the customer care executive of the same. The executive will then have you fill out a KYC form and guide you through the rest of the process.
Muthoot Gold Loans has innumerable benefits. Some of the highlights are as follows:
· Customer oriented Services
· Quick Loan disbursal
· Loan limit stretches from Rs. 1500 to Rs. 1 crore (and above)
· Pre-payment option-without any penalty
· Minimal documentation
· In-house gold evaluation
· Strong rooms for providing safe custody for gold ornaments
Once, I got to know about the benefits of availing a gold loan from Muthoot Finance, I shared with the parents and they are now very much considering this option. If you need more information about gold loans and the various gold loan schemes, do check out Muthoot’s website.
This post is written in collaboration with Muthoot Finance