With the current interest rate fluctuations, opting for a jewel loan as against a personal loan is more lucrative. Not only are your overall costs reduced, this will save a lot of your time. Jewel loans can be availed of at co-operative banks, public sector banks, private sector banks and other private lenders. Some banks, however, offer it only in certain regions, the only disadvantage. While private lenders process the loan in less than a couple of hours, some co-operative and public sector banks may take up to a day to issue the loan. In any case, the time is much less than the minimum three days of processing time for a personal loan. Loan to value or the maximum ratio of a loan’s size to the value of the asset, for a jewel loan is on par with that of a personal loan. Till now gold loans have been a bastion of small-time money lenders. But with banks looking at expanding the secured loan portfolio as against the unsecured personal loan, the options for the borrowers are aplenty. Most of the gold loan businesses are in the unorganized sector. Experts caution borrowers to make proper inquiry about the pedigree and the track record of the lending agency before pledging gold for a loan. Considering the advantage a jewel loan offers in terms of a rent-free locker, a little bit of juggling can even help you save renting a locker for your jewels. Moreover huge emotional and sentimental value is attached to the gold you own, which is why many of us are against the idea of applying for gold loans. However these loans offer you a brilliant opportunity to get yourself out of sticky situations and it’s rather unfortunate that many people don’t make the most of this option available to them.