A gold loan is a particular kind of loan where the borrower pledges gold as security for the loan. Based on the gold's value, the lender provides a loan amount, which the borrower must repay together with interest. During the loan term, the gold stays in the lender's custody; after the loan is fully repaid, the gold is transferred back to the borrower. Gold loans are popular for meeting urgent financial needs because of their speedy disbursement and relatively low interest rates when compared to other loan forms.
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