Urgent Money Loan: Need money immediately, adopt these 6 options, no work will be stuck

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Urgent need for money: Situations come with everyone that suddenly there is an urgent need for money. In such a situation, people run their businesses by taking loans from friends or relatives. However, not everyone has this facility. Sometimes because of hesitation and embarrassment, sometimes due to other reasons, this option does not work. In such a situation, there are some such methods, which can be very useful for you. With these methods, you can manage urgent money without worry.

Personal Loan: In today’s time almost all the banks provide the facility of personal loans. Any bank can give you a personal loan if you have a good credit score. Right now many banks have also launched pre-approved personal loan products. Its entire process is also completed online. If you are salaried or have regular income from any profession then there is no problem in taking a personal loan. Apart from these, financial service providers like Credit Card and Paytm also offer instant personal loans.

Gold Loan: This is one of the best ways to manage money in urgent situations. If you have jewelry, you can mortgage it and take out a loan in minutes. In this case, the interest has to be paid less as compared to the personal loan. In today’s time, many banks are offering gold loan facilities. Apart from this, many gold loan companies also provide this service. According to the guidelines of the Reserve Bank, loans can be taken up to 75 percent of the price of gold.

Loan Against Property: If you do not live on rent, your home not only gives you a roof, but it can also provide protection against sudden calamities. In the case of residential property, a loan equivalent to 60-70 percent of the total value of the house can be easily availed. The good thing about this is that the interest rate of this loan is low and it can also be available for a longer tenure of up to 20 years. Since it is a secured loan, it is easily accepted by the banks as well.

Read More: PMSBY: Spend only Rs 12 in this scheme of the government, you will get the full benefit of 2 lakhs; take it fast.

Loan Against FD: People save and invest to secure their future. Among its traditional remedies is FD. If you have got an FD, then it can be used in case of sudden need without a premature break. If you break an FD, you lose it. In such a situation, you can avoid losses and meet your needs by taking a loan against FD. Banks offer loans up to 90% of the FD value

Loan Against Shares and Mutual Funds: If you also invest money in the stock market, then you can take advantage of this facility. Suddenly selling shares can be a loss-making deal. In such a situation, you can take a loan against them without selling the shares. Loans up to 50% of the total value of the shares held by you can be easily availed. Apart from this, loans are also available in mutual funds.

Loan Against Insurance Policy: In today’s time generally everyone has insurance. The insurance policy provides protection for the future. This product can also become a means of raising much-needed funds. If you do not know, then know that loan is also available on the insurance policy. Loans ranging from 85-90 percent of the surrender value of the policy are easily available. In case of sudden need, you can also adopt this remedy and come out with difficulty.

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