Advances like a loan against property and gold loans are the two most popular financing options that can meet your fund requirements. Now, the question arises, how would you choose between these two financing options? To get the answer, let us dive deep into their details in this article.

1. Know the key differences between
mortgage and gold loans

2. Loan against property
meaning
1. This loan's funds are secured by
real estate.
2. 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
1. LAP is available for up to Rs 15
crore.
2. 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
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11. Thanks!
Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel : 18001024145
Email : customer.care@herofincorp.com
Website : https://www.herofincorp.com/
Know More : Loan against property vs Gold loans- Know the difference