Gold loan demand: Why are gold loan tenures increasing during Covid?

Gold loan demand: Why are gold loan tenures increasing during Covid?
Gold loan demand: Why are gold loan tenures increasing during Covid?

The trend is expected to continue and help the organised gold loan market grow to $62.8 billion, or about Rs 4,61,700 crore, in 2021-22 from $47 billion in 2019-20.

Synopsis

An increasing number of business owners and households are recognising gold loans as a source of arranging long-term funds, which was quite uncommon previously.

Long-term gold loan is gathering pace, as economic activity picks up in the midst of the pandemic.An increasing number of business owners and households are recognising gold loans as a source of arranging long-term funds, which was quite uncommon previously as most such loans were closed within a year, gold loan companies said.Kerala-based non-bank finance company Indel Money has launched a gold loan product with a two-year tenure.Executive

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