What exclusive benefits are available for gold loans during festivals?

Typically, during festivals, financial institutions offer exclusive offers and benefits for gold loans. They usually include the following:

• Gold loan interest rates could be lowered by certain percentage points as a promotional offer for festivals. However, the extent of discounts may vary across different loan providers.
• The maximum permissible loan amount for a given gold pledge may be higher than regular terms, by increasing the loan-to-value (LTV) ratios.
• Faster application processing and disbursal on the same day are commonly emphasized for festival gold loans.
• Waivers or discounts on processing, prepayment and foreclosure fees are sometimes offered as benefits for festival loans.
• Options of Equated Monthly Instalment (EMI-free periods), where only interest is serviced for initial few months, are seen in certain festival schemes.
• Providing more flexible repayment tenures is a tool used by financial institutions for festival gold loans.
• Part prepayment of loan principal may be allowed without charges during festival offer periods.
• Some loan providers give away gold coins or additional rewards to existing customers opting for top-up loans during festivals.
• Free gold valuation for a limited period is another incentive offered occasionally during festivals.