When a customer pledges gold including jewelry, ornaments e.t.c as warranty for taking a loan, it is known as a gold loan. The bank or lender uses the gold as security against prospective payment default by the customer. The loan amount sanctioned is a certain percentage of the value of the gold that has been guaranteed. Gold loans are short-term loans and the payment period can range from one month to a few years. If you are in need of money for urgent expenses and expect to be able to pay it back in a short term period, then this type of loan might be a good option for you career development loan . There are some certain advantages of a gold loans. These are – Lower interest rate on gold loans that is interest rates on these loans are lower than on personal loans since this is a relatively low-risk loan for lenders as they hold your gold as warranty. The interest rate also varies depending on how much you want to borrow to the total value of the gold you hav...