Borrowing Against the Blues

Both gold loan and loan against property have their unique features and drawbacks but if you need the funds for an urgent medical emergency, the balance tilts in favour of gold loan

- Yagnesh Kansara

The financial front is on the boil – be it an individual or a corporate – thanks to the pandemic and its rerun on the economy’s wobbly recovery. The crisis has brought us to a juncture where exigency has ceased to be an accident; it is more of an incident now. Financial emergency can precipitate any day, any moment. It may be professional or medical or, maybe, both at a time.

Standing amid such overpowering uncertainty, one needs to brace for any kind of financial emergency. Often we need to borrow from banks or financial institutions or from some private sources in such trying times.

Gold, known as the safe haven, has been for eons helping us address emergencies, making gold loan the first choice. Some of us also apply for loan against property (LAP). A detailed look into the two options would help us understand their various nuances.