Do you really need to sell your kidney for the latest iPhone?

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Nevertheless, we all have things we want to pursue in our lives, yet our cash flow on hand is limited, or we might not fulfil a certain requirement to have a credit card. So how can we achieve what we want in this case? Let’s share how we provided a solution for our clients, Amanda and Ben (Fictitious names created for privacy).

 

Amanda just graduated and started to work a month ago; she is not eligible to apply for a credit card yet. Unfortunately her phone is faulty and she’s looking to replace it with an iPhone 12. With the above mentioned limitations, GSC Collateral Loan might be a program she can consider for the short term.

 

She has some gold jewellery that she received from her parents and relatives during her 21^st birthday celebration, left idle in her drawer. She doesn’t like to wear them but still view them as meaningful and valuable, hence she still intends to keep it.

 

And now for her to afford an iPhone 12 without asking help from her parents, she decides to pledge the gold jewellery, top up with some of her savings to purchase the iPhone 12 and then repay the loan and interest to redeem the gold jewellery within the loan tenure, which is 6 months after she starts on her new job.

 

On the other hand, Ben has been working for a few years and just got married. To increase his wealth and save up for future expenses i.e. having a baby and pay for a new house, he’s looking to invest in the recent bullish asset, cryptocurrencies. He has done his research and believe that it’s still a good time to buy into cryptocurrencies now as it still has potential for more growth. To raise enough funds to invest in crypto, he pledged the gold jewellery they received during their wedding since it’s not suitable for daily wear.

 

The reason for not selling the jewellery was, he believes keeping Gold as an asset is a good diversification in his portfolio and Gold looks like it has further upside. By pledging his Gold jewellery, he gets to unlock the cash flow from an idle asset to invest in other assets classes and yet retain the ownership of Gold. This way he can kill two birds with one stone. He pays the loan interest from the profit he makes in trading cryptocurrencies and from time to time, he makes some repayment to reduce the loan amount and hence the interest that he needs to pay.

 

Want to know how Amanda and Ben do it? Feel free to browse our website and articles on sharing about our GSC Collateral Loan program. Don’t be shy to contact us if you have further queries and our friendly sales team will be more than happy to assist.

 

Disclaimer: These are sharing from our happy clients on how the collateral program assisted them to achieve their goals, but this is by no means an endorsement or investment advice and may not apply to every situation or to your own personal circumstances. Information shared here are of general nature and should not be regarded as a substitute for seeking professional and/or legal advice on any specific issues.

 

Maya