IIFL Gold Loan Key Features
Up to Rs. 1 Crore (With Income Proof)
|IIFL Gold Loan Interest Rate||
7.0% per annum
|IIFL Gold Loan Rate Per Gram||
|Gold Required||Minimum 18 Carat|
|Processing Fee||1.50% of the Principal Loan Amount|
3 Months to 36 Months
Bullet Payment Scheme, Overdraft Scheme, EMI options
Each Feature Explained in Detail Below
India Infoline Finance Limited (IIFL) is a financial company headquartered in Mumbai. It was founded in 1995 as a private limited company under the provision of the companies act. Next, The company was shifted to a public limited company in the year 2007. Interestingly, IIFL ranks among the top 7 financial conglomerates in India. Furthermore, the company provides a wide range of financial products namely, Personal Loan, Gold Loan and many more. Finally, IIFL has an excellent reputation when it comes to the gold loan service.
Gold Loan is a secured service. 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 Score are also eligible for this service.
- IIFL Gold Loan Interest Rate is 7.0% per annum.
- IIFL Gold Loan Rate Per Gram is Rs.5121.
- IIFL Gold Loan Tenure is up to 36 Months.
- Gold Loan IIFL processing fee is 1.50% of the Principal Loan Amount.
Advantages of IIFL Gold Loan
- Loan Amount: To begin, An applicant can avail the maximum amount of Rs.1,00,00,000. But, it solely depends upon the quality and quantity of gold.
- EMI options: Secondly, Hassle-free payment of EMIs. That is, the people can structure the amount of a gold loan according to their need.
- Instant Liquidity: Moreover, Enjoy liquidity of cash at any time. Generate instant cash in time of need, which is possible due to the facility of overdraft.
- Security: Furthermore, The bank provides the complete protection of the ornaments. Thus, you do not have to worry about the safety of their jewelry.
- Interest Rates: Also, individuals can get the advantage of a lower rate of interest.
- An advantage to the farmers: Finally, an applicant can also apply for a Gold loan on Agricultural Land on their name. And get a discount of 1% on the interest rate charged.
How Much Gold Loan Can I Get Through IIFL?
IIFL Gold Loan Per Gram
Updated - Gold Loan Per Gram Rate
IIFL Gold Loan Eligibility
To get an IIFL Gold loan, one has to fulfill the following eligibility criteria:
|Age||18-75 years of age|
|Employment Status||Salaried, Self-Employed|
|Gold Quality||Minimum 18 Carats|
|CIBIL Score||500 and above|
IIFL Gold Loan Documents Required
Applicant Identity Verification Documents can be amongst the below documents (ANY):
|Photographs||2 Passport Size|
|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 Interest Rate, Fees and Charges
|IIFL Gold Loan Interest Rate||7.0% per annum|
|Processing Fee||1.50% of the Principal Loan Amount|
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
Late Repayment Charges
2% p.a. + Applicable rate of interest.
Renewal Processing Fees
|Rs 350 + GST|
Types of IIFL Gold Loan
- Loan Against Gold: Anyone can avail a loan against gold by pledging his/her gold jewelry 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.
IIFL Gold Loan Apply Online
- 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
|Rate of Interest||6 months||1 Yr||2 Yrs||3 Yrs|
How to Pay Your IIFL Gold Loan EMI?
- Standing Instruction (SI): If you are a current record holder with IIFL, Standing Instruction is the best method of repayment.
- Electronic Clearing Service (ECS): This mode is an option if you have a non-IIFL account and might want your EMIs to be charged for every month from your account.
- Post-Dated Checks (PDC): You can also submit EMI cheques from a non-IIFL account at your closest IIFL Loan Center.
IIFL Gold Loan Contact Number
For any sort of assistance regarding the IIFL gold loan, you can contact us on the number 9878981144.
Gold Ornaments accepted by IIFL 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.
- Gold Jewelry- First of all, Bangles, Necklace, Earrings, and any other type of jewelry.
- Gold Coins- Next, Not accepted for loan approval.
- Gold Bars- Also, a loan is not given on gold bars.
- Gold Biscuits- Furthermore, in this case, also loan is not approved.
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.
FAQ’s About IIFL Gold Loan
It is the best option if you are looking for a quick way to avail of financing. 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.
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.
IIFL Gold Loan Rate Per Gram is Rs.5,121, depending on the quality of your gold i.e (18-24 carats).
Gold Loan is very simple to understand, as well as easy to avail. The IIFL provides you with funds against your gold Jewelry. The amount depends upon the gold weight which can be repaid within the tenure period.
IIFL Gold Loan Interest Rate is 7.0% per annum.
You can check your Gold Loan status in IIFL online by visiting the Bank’s online portal/ website and logging in with the credentials required to access your personal application status.
The gold loan interest rate in IIFL can be calculated by subtracting the principal amount from the total loan amount to be paid for the entire tenure. You can also check the EMI Calculator to know about your total payable amount.
You can avail a maximum of up to 75% of the gold jewelry’s value that you have pledged with the bank on gold loan from IIFL.
The loan tenure of your IIFL gold loan is up to 36 months. You may have to renew your loan application after every 1 year.
A processing fee of up to 1.5% + GST is charged by IIFL on a gold loan.
The charges for pre-payment with IIFL gold loan is up to 2% of the outstanding loan amount.
You can renew your gold loan online with IIFL by simply filling the renewal form available on the portal of IIFL, and once everything is processed, your loan will be renewed for a new tenure.
IIFL Gold loan interest can be paid online using various modes like the i-mobile app, m-banking, net banking, debit cards, etc.
If you don 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.
You can apply for EMI moratorium on IIFL Gold loan by 2 ways:
- Fill a form online by logging in with your credentials.
- Visit the branch near you and apply for the same by filling a form physically.
You are not eligible to pay Gold loan IIFL through credit card as per RBI Guidelines.