Gold Loan vs Personal Loan: Which is More Beneficial for Your Financial Needs?

• Gold Loans are secured, offering lower interest rates (8.05%-12%) and faster processing, ideal for urgent needs or low CIBIL scores.
• Personal Loans are unsecured, with higher interest rates (9.99%-24%) and longer processing, requiring a good CIBIL Score and income proofs.
• Gold Loans require pledging gold as collateral, risking auction if not repaid, but offer quick access to funds with minimal documentation.
• Personal Loans don't require collateral, but non-repayment negatively impacts your CIBIL Score, making future loans difficult.
• Choose Gold Loan for quick, low-interest funds with short repayment; opt for Personal Loan for larger amounts, longer repayment, and no asset pledging.

Why It Matters: Gold Loan is cheaper and faster if you have gold and can repay quickly; Personal Loan suits longer terms without collateral.