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Moneylife » Personal Finance » Borrowing » Loan against Gold

Loan against Gold

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Debashis Basu | 25/08/2010 06:22 PM | 

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If you are hard up for cash and need the money immediately, consider pledging gold. But remember, there are serious pitfalls, explains Debashis Basu

You can see their advertisements all over: Muthoot Finance, Muthoot Fincorp (the two entities are separate) and Manappuram Finance. They specialise in lending money against gold. All three companies are from Kerala and are spreading at a rapid pace across the country—at least that’s what their business plans claim. Apparently, people are thronging their offices to avail of loans against gold. The organised gold-loan market in India grew at a compounded annual growth rate (CAGR) of around ...


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