| Interest Rate | 6.48% p.a. - 27% p.a. |
| Loan Amount | Rs.3,000 onwards |
| Loan Tenure | 2 years |
| Processing Fee | Rs.0 onwards |
IIFL is one lender which offers you the option of availing a gold loan from them by pledging gold as collateral.
There are two types of gold loan schemes offered by IIFL Finance:
| Interest rate | 0.54% p.m. or 6.48% p.a. onwards |
| Processing Fee | Rs.0 onwards depending on the scheme availed |
| MTM Charges | Rs.500 |
IIFL has made sure that the process of submission of documents is hassle-free. You have the option of walking into any of the 1,900+ branches of IIFL with the necessary documents. The lender will approve your gold loan application within 5 minutes if the document submitted by you is correct and the gold pledged by you meets the requirement.
If you have an Aadhaar, then the lender will complete the eKYC process on their tablets and you will not be required to submit any other documents.
Given below are the list of documents you will have to submit while applying for a gold loan from IIFL:
You can apply for a gold loan both online and offline, and by using the IIFL mobile app.
Online
You can visit the official website of IIFL where on visiting the ‘Gold Loan’ page, you will be able to locate the ‘Apply Now’ option. Enter your details and click on ‘Submit’. Follow the instructions and submit the necessary documents. Pledge the gold, and the lender will then review the documents and the gold pledged. If all the documents are found to be correct and the pledged gold meets the requirement, the lender will approve your loan and disburse the loan amount to your bank account.
You can also download the IIFL mobile app and log in using your credentials. Follow the instructions given and submit the documents including pledging your gold. If you meet the criteria, the lender will approve your loan and disburse the loan amount to your bank account.
You can also apply for a gold loan by visiting the official website of BankBazaar and apply for a gold loan from IIFL. Submit the documents and pledge your gold. The lender will review the application form and if they are found to be correct, will disburse the loan amount to your bank account.
Offline
You can visit the nearest branch of IIFL and apply for a gold loan scheme. Make sure you carry all the necessary documents including the gold to pledge. A representative from the lender will help you with the process of applying for a gold loan scheme from IIFL
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The jewelry pledged by you is kept in a fire and burglary proof vault in the lender’s Gold Loan branch which is completely secure. The branch is under continuous monitoring and electronic surveillance. The jewelry pledged by you is also insured.
Yes, you can visit the official website of IIFL and use their gold loan EMI calculator to determine the loan amount, repayment tenure, and rates of interest that will be suitable for you. The EMI calculator is user friendly and all you have to do is enter the required details.
You can also use the gold loan EMI calculator by BankBazaar by visiting its official website.
Yes, you can part release your gold loan provided you have paid back a part of the loan amount as per the value of gold.
You can pledge any gold ornament or jewelry over 18 carats in order to avail a gold loan from IIFL.
If all the documents submitted by you is correct, and the gold pledged by you meets the standards, then it will take only 5 minutes for the lender to approve your loan and 30 minutes for them to disburse the amount to your bank account.
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