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Can I pledge gold to avail of loan from bank?- Property Hotline
Posted
October 28, 2016
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145
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October 28, 2016
145
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2:00Now PlayingExpert: Kartik Jhaveri - Founder & Director-Transcend Consulting India Private Limited.
Question: I have a home loan of Rs 13 lakhs. Can I pledge gold and avail of loan from bank to payback part of the home loan?
Answer: If you can service the current EMI comfortably then continue to do. Would pledging gold help you? Do you not have to pay interest on that gold loan? Consider making investments in avenues like mutual funds, especially equity mutual funds to generate good long term returns and use profits from such investments to prepay your home loan.
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