IIFL Gold Loan

IIFL Gold Loan Key Features

IIFL Gold Loan Interest Rate	0.83% onward per month
Gold Required	Minimum 18 Carat
Processing Fee	0% onwards
Repayment Tenure	12 to 24 Months

• Reason: The IIFL gold loan provides customers with a convenient way to meet various personal needs such as weddings, education, and business expansion.
• Minimum Loan Amount: Rs 3,000 is the minimum loan amount one can avail.
• Maximum Loan Amount: Because it is a secured loan, the borrower can obtain any amount basis the gold valuation, but above 30 Lakhs loan, additional due diligence is required before disbursing the loan.
• Interest Rate: The interest rate on an IIFL gold loan begins at 0.83% per month.
• Repayment Tenure: The period of repaying for an IIFL gold loan is up to 24 months.
• Processing fees: On an IIFL gold loan, the processing fees are charged Rs. 0 onwards depending on the availed scheme.
• Prepayment penalties: There are no penalties on the prepayment of the IIFL gold loan.
• Storage: The gold jewels provided to the bank as collateral are safely stored in the bank’s locker and can be retrieved after the loan is fully repaid.

Each Feature Explained in Detail Below

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Introduction To IIFL Gold Loan

India Infoline Finance Limited (IIFL) is a financial services company founded in 1996 as an equity research firm by Mr Nirmal Jain. The company now ranks among the leading financial services provider in the nation and has over 25+ years of industry experience.
The company has three business verticals – IIFL Finance, IIFL Securities, and IIFL Wealth Management. IIFL has an excellent reputation when it comes to the gold loan service, as the company’s vision is to be the most respected financial services company in India. Not necessarily the largest or most profitable
Gold Loan is a secured loan. In which the applicant has to put gold ornaments as security in the bank, to avail a loan against them. Also, after the repayment of the loan amount, the ornaments are returned to the customer in the same shape. If the loan seeker is unable to repay the loan amount, then gold ornaments are confiscated by the bank. Therefore, it is essential to choose the loan amount sensibly. Besides, people with weak CIBIL Scores are also eligible for this service.

• IIFL Gold Loan Interest Rate is 0.83% per month.
• IIFL Gold Loan Tenure is up to 12 to 24 Months.
• IIFL Gold loan processing fee starts from Rs. 0 onwards.

Benefits of IIFL Gold Loan

1. Loan Amount: The loan’s amount starts from Rs.3000, and solely depends on the weight and purity of gold.
2. Interest Payment Options: Borrowers can pay their loan interests through IIFL Loans App, Payment apps like Paytm and Gpay or directly at any nearby IIFL branch.
3. Instant Liquidity: Liquidate your gold instantly. Generate instant cash in time of need, by pledging it for a gold loan with IIFL.
4. Security: IIFL provides complete protection of your ornaments. Thus, you do not have to worry about the safety of their jewellery.
5. Interest Rates: A gold loan is secured and offers a lower interest rate when compared to other forms of credit.
6. An advantage to the farmers: Farmers can get special benefits and a lower interest rate, showing proof of their agricultural land.

Advantages of IIFL Gold Loan

The following are some of the benefits that a customer can obtain by pledging gold with an IIFL gold loan:

• No-hassle in the application process
• Minimal validation of documents
• Appealing interest rates
• Prompt disbursal of the loan amount
• The standard loan amount is calculated based on the value of the gold
• Your gold is securely stored

How to Apply for IIFL Gold Loan? 

• In-person/ Physical Mode:
  (i)   Visit your nearest branch of IIFL with Identity and address proof along with the gold that you are ready to pledge.
  (ii)  The Personnel present at the bank would verify and analyse the gold and inform you of the maximum loan amount you can avail of.
  (iii)  The counter staff will perform your eKYC on the tablet using your Aadhaar card number.
  (iv)  After the Authentication of your identity, address etc., is done, the loan amount would be disbursed to you.
• Online:
  1) Visit IIFL official website (https://www.iifl.com/gold-loans )
  2) On the first page, fill in the details required (name, contact no.) and click on “Apply Now”.
  3) Post that an OTP will be sent to verify the contact number.
  4) After verification you will have the option to locate the nearby branches or book a gold loan appointment at home.
  5) For locating a nearby branch, one need to enter the required details of their current address and the branches near the location will be displayed with contact details.
  6) For booking an appointment, one needs to confirm the address and book the date slot for appointment. Hence the loan can be disbursed sitting at home.

How Much Gold Loan Can I Get Through IIFL?

IIFL Gold Loan Eligibility

To get an IIFL Gold loan, one has to fulfil the following eligibility criteria:

Age	18-75 years of age
Nationality	Indian
Employment Status	Salaried, Self-Employed
Gold Quality	Minimum 18 Carats
CIBIL Score	500 and above

IIFL Gold Gold Loan at Home 

Gold Loan at Home is a doorstep loan service that allows you to borrow money from the convenience of your own home. The service is rapid, flexible, and cost-effective because interest rates are low. You may use the gold loan calculator to calculate the value of your gold or the loan amount before completing a loan request. Obtaining a Gold Loan at home is an easy and quick process that can be done in a matter of minutes.

One of our representatives will contact you and arrive at your home within 30 minutes. The appropriate gold loan amount will be paid immediately to your bank account when all e-documentation and gold identification is completed at your home.

The benefits of getting a gold loan at your doorsteps are:

• Diverse Range of Gold Loan Schemes
• Your Gold will just be released the same day.
• You can get free insurance for your Gold
• There are no hidden fees.
• You will get the maximum value of your Gold
• Service at Your Door in 30 Minutes

IIFL Gold Loan Documents Required 

Applicant Identity Verification Documents can be amongst the below documents (ANY):

Identity Proof	Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof	Aadhar Card, Driving License, Ration Card, etc. (Only 1 is required)

IIFL Gold Loan Details

To check Gold Loan Interest Rate for all major banks you can visit: Gold Loan Interest Rate

• IIFL gold loan interest Rate – 9.96% per annum onwards
• Processing Fees – Rs. 0 onwards
• Prepayment/ Foreclosure Charges – Rs. 0
• Valuation Fees – Rs. 0
• Late Repayment Charges – Remove this point
• Renewal Processing Fees – Remove this point

Types of IIFL Gold Loan

• Loan Against Gold: Anyone can avail of a loan against gold by pledging his/her gold jewellery with the bank. The rate of interest offered is relatively low.
• Loan for Agriculture purposes: is given to the borrowers who need a loan for agriculture purposes. To facilitate their work, IIFL offers the lowest rate of interest on gold loans.

Gold Loan Process:

A gold loan involves the steps outlined below.

Step 1: The purity of the gold is determined, and the loan amount is determined.

Step 2: The market rate of gold per gram is checked, and the previous day’s rate is taken into account.

Step 3: At this point, the loan to value (LTV) is determined. The RBI has set a maximum LTV value of 75%.

Step 4: After you have agreed to the loan amount and terms, the lender will process your application. The processing fees and other charges would be deducted from the loan amount.

Step 5: Following the signing of the final agreement, the gold loan amount is deposited into your account.

Applying through the Dialabank website?

• Visit the website Dialabank.
• Fill up the form of gold loan available on the website.
• You will be contacted on your provided number by our relationship manager.
• The relationship manager will help you with choosing the right loan option for yourself.

IIFL Gold Loan EMI Calculator

• While going to avail a Gold loan, have to know that how much gold you need to carry to the branch for a particular amount.
• Similarly, if you have got Gold jewellery, you’ll have to verify, what quantity loan to expect his straightforward calculator helps you to answer each the on top of queries and lets you opt for what quantity gold to require to the IIFL gold loan branch.
• the simplest feature of the IIFL Gold loan is that you just needn’t pay mounted EMIs each month.
• All you would like to pay is that the interest increased on your loan makes loan compensation versatile and straightforward.

How to Pay Your IIFL Gold Loan EMI?

Repayment of an IIFL gold loan can be made by way of EMIs and must be made through Electronic Clearing System or Automated Clearing House.

IIFL Gold Loan Contact Number

For any sort of assistance regarding the IIFL gold loan, you can contact us on the number 9878981144

What Types of Gold Can Be Used To Secure a Gold Loan?

Bank provides loans on certain ornaments of gold. Following is the list that shows which ornaments banking institutions consider for a gold loan. And, which they do not.

1. Gold Jewelry- First of all, Bangles, necklaces, earrings, and any other type of jewellery.
2. Gold Coins- Next, Not accepted for loan approval.
3. Gold Bars- Also, a loan is not given on gold bars.
4. Gold Biscuits- Furthermore, in this case, also loan is not approved.

How to Contact IIFL Gold Loan Customer Care?

Call – 1860-267-3000, 7039-050-000
Time: 09:30 am to 6:00 pm from Monday to Friday & 09:30 am to 4:00 pm Saturdays

Closed on: Sundays and Public Holidays

Uses of IIFL Gold Loan

• To finance personal expenses such as medical bills, tuition fees etc.
• To finance business requirements.
• IIFL Gold loan can also be used for agricultural purposes.

Why Should You Avail a Gold Loan From IIFL?

• 2500+ branches across India.
• Over 6 million happy customers
• The loan application process is completely transparent.
• The security and insurance of the gold pledged by you is of utmost importance
• The lender possesses a dedicated support team.

FAQ’s About IIFL Gold Loan

✅ What is IIFL Gold Loan?

IIFL Gold Loan is the best option if you are looking to liquidate your gold instantly. It provides loans against gold ornaments at attractive interest rates with instant approval and disbursement in approximately 30 to 45 minutes. With IIFL you will be able to say “Hai Bharosa” for all your dreams to come true.

✅ How Can I Get Gold Loan From IIFL?

You can get a gold loan from IIFL with the following steps:

• Fill in the form available on Dialabank.
• Our expert relationship manager will get back to you on your number within 30 minutes.
• We will evaluate your loan repayment capacity eligibility and suggest you the best options.
• Submit your documents.
• Enjoy the loan amount instantly in your accounts.

 ✅ How Does IIFL Gold Loan work?

The IIFL Gold Loan is very simple to understand, as well as easy to avail. The IIFL provides you with funds for your gold Jewelry. The amount depends upon the gold weight which can be repaid within the tenure period.

✅ What is the Gold Loan interest rate in IIFL?

IIFL Gold Loan Interest Rate is starting from 0.83% per month, depending on scheme availed.

✅ How to check Gold Loan Status in IIFL?

You can check your gold loan status in IIFL online by two ways:

• Visiting the online portal/website of IIFL and logging in with the credentials required to access your personal application status.
• By downloading and logging in on IIFL Loans app with the required credentials.

✅ What is the maximum Gold Loan amount I can avail for my gold from IIFL?

You can avail a maximum of up to 75% of your gold’s value which you have pledged with IIFL.

✅ What is the Loan Tenure of IIFL Gold Loan?

The loan tenure of your IIFL gold loan is up to 24 months.

✅ How much Processing Fee is Applicable on IIFL Gold loan?

The processing fee starts from Rs. 0 onwards and depends on the scheme availed.

✅ What are the Charges For Pre-payment in IIFL Gold Loan?

The charges for pre-payment with IIFL gold loan is up to 1.5% of the outstanding loan amount.

✅ How to pay IIFL Gold loan Interest Online?

IIFL Gold loan interest can be paid online using various modes like the i-mobile app, m-banking, net banking, debit cards, etc.

✅ What if I can’t pay the Interest on IIFL Gold loan for 3 months?

If you do not pay the IIFL Gold loan for 3 consecutive months the bank would warn you against further defaults. In case the defaults continue, the bank may have to sell your pledged gold ornaments.

✅ How to pay an IIFL Gold loan through Credit Card?

You are not eligible to pay your Gold loan through a credit card as per RBI Guidelines.

✅ What happens if I am unable to repay my IIFL Gold Loan?

If the customer is unable to repay any amount, maybe the interest/principal amount/ any other charges, post the completion of loan tenure, IIFL will send a legal notice to the customer and will give a slot of 8-10 days time to repay the total outstanding amount. If a customer fails to repay the amount even after the given time period, pledged gold articles will be sold by IIFL in a public auction as per their policy.