Don’t Worry! These Three Options Will Help You If You Need Money In Emergency

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The financial condition of most of the people was heavily affected due to the Coronavirus epidemic. A large number of people also lost their jobs in the lockdown and businesses were closed down. How to raise money in a sudden financial crisis is a big question. However, today we are telling you some ways through which you can get a loan in an emergency.

Credit card loan

If you have been paying the credit card bill on time and your credit card history is good, then you will get a loan easily based on the credit limit. Some credit card companies can provide you instant loans beyond this limit.

Loan on gold

A loan can also be availed by pledging gold in an emergency. RBI gave a big relief in August this year, according to which a loan equal to 90 percent of the value of the gold jewelery or gold coin you have can be taken. Earlier, loans were available up to 75 percent of the gold value.

Loans on PPF

Another easy option to get loan is loan on Public Provident Fund (PPF). The loan is available after completion of three years of PPF account and it is available for a period of six years after opening of PPF account. You will likely to get loans up to a maximum of 25 percent of the amount deposited in the account.

(Source: abplive.com)

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