When it comes to securing your wealth, few things compare to the timeless value of gold. However, safeguarding your gold jewellery requires more than just a secure hiding spot at home. Storing your gold in a bank locker ensures its safety and provides peace of mind.
Choosing the right bank locker
- Security: Opt for a bank known for its robust security measures. Look for features like 24/7 surveillance, biometric access and alarm systems.
- Location: Choose a branch that is convenient for you to access but not too conspicuous.
- Size: Ensure the locker is spacious enough to accommodate all your valuables comfortably.
- Reputation: A well-established bank with a solid reputation is generally a safer bet.
Benefits of storing jewellery in bank lockers
- Enhanced security: Bank lockers offer multiple layers of security that are often not available at home.
- Peace of mind: Knowing your valuables are stored safely reduces stress and worry.
- Insurance: Many banks offer insurance options for items stored in lockers, providing additional protection.
- Accessibility: You can access your items during the bank’s operating hours, making it convenient and secure.
Leveraging your gold with Gold Loans
Understanding how to keep gold in a bank locker is crucial for safeguarding your precious assets, but it also opens up opportunities for financial leverage through Gold Loans. A Gold Loan allows you to leverage your stored gold without having to sell it. This can be particularly useful in times of financial need.
Benefits of Gold Loans
- Quick processing: Gold Loans are known for their fast processing times. You can often receive funds within a few hours of application.
- Lower interest rates: Compared to unsecured loans, Gold Loans typically have lower interest rates due to the secured nature of the loan. It’s important to compare Gold Loan interest rates from different banks to secure the best deal.
- Flexible repayment options: Banks offer various repayment plans to fit your financial situation, whether you prefer monthly instalments or a bullet repayment at the end of the term. To qualify, you need to meet the Gold Loan eligibility criteria, which typically include age, gold purity and documentation requirements.
Also Read: What are the 3 different types of Gold Loans in India?
Conclusion
Knowing how to keep gold in a bank locker ensures the safety and longevity of your valuables. Combining the security of bank lockers with the financial leverage of Gold Loans allows you to protect your wealth while also having the flexibility to access funds when needed.
Axis Bank provides Gold Loans ranging from ₹25,001 to ₹40,00,000, quick loan disbursal within 60 minutes, and the convenience of choosing your repayment tenure between 6 and 36 months. You can use your gold ornaments as collateral, ensuring their secure storage in bank vaults. Axis Bank also offers perks like Axis eDGE reward points upon disbursal, lower interest rates and easy documentation.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
