Muthoot Finance a Non Banking financial company( NBFC)
Let me take an Example friends
Gold pledged be 2 tulas » worth 60, 000 and you will get only 60% of the value » only 36000 to 40000 and Interest will be 24% and total montly charges will 1000 and per year till will be 12000 and for 2yrs 24000
In aggregate our inflow will be 40, 000 ( initial)
Our Outflow will be 64000
Most dangerous term
If the customer is unable to aishwaryasingh23 the company interests and outstanding balance company sells the product in market at fair price( most cheaper)
I suggest dont pledge gold instead sell it or borrow @ 1.5/2 rs outside or Try with local chit funds
Regards
Abhilash
