Gold loans are basically loans that are taken against gold. It is a secured loan that borrowers take from a financial institution in lieu of gold jewellery. The loan amount shall be sanctioned to the borrower and will ideally be a particular percentage of the value of the gold. The borrower can repay this sum to the lender through monthly instalments, instant payments, and part payments. After they have paid all the instalments in full and in a timely manner, the gold is given back to the borrower. Hence, no matter whether a person needs funds for – a family vacation, wedding, their child’s education or a medical emergency, taking up a gold loan would be a great way to meet a sudden monetary requirement.