IIFL Gold Loan

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Unlock the Real Value of your Gold
Rates as low as 10.00%*
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

Interest Rate

Starts at 10.75%

Loan Per Gram

From Rs. 2,472 to Rs. 3,023

Tenure

Up to 36 months

Processing Fee

Up to 1% + GST

About IIFL Gold Loan

IIFL Gold Loan

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.

Why Choose IIFL Gold Loan?

IIFL offers loan against gold at the lowest Interest rate. Being one of the significant gold loan suppliers, IIFL understands the necessities of the clients and disburses the loan amount in 60 minutes. The gold promised is securely secured in the bank locker, and you don’t need to stress over its safety.

Advantages of IIFL Gold Loan

  1. 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.
  2. EMI options: Secondly, Hassle-free payment of EMIs. That is, the people can structure the amount of a gold loan according to their need.
  3. 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.
  4. Security: Furthermore, The bank provides the complete protection of the ornaments. Thus, you do not have to worry about the safety of their jewellery.
  5. Interest Rates: Also, Individual can get the advantage of a lower rate of interest.
  6. 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.

IIFL Gold Loan Eligibility

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

  1. Gold should be in the name of the applicant or family member. That is, the gold ornaments which are on the name of the applicant or family member, the loan is approved only on those ornaments.
  2. The customer applying for a loan should be a resident of India. Thus, the loan seeker should have the nationality of India.
  3. The age of the person should lie in between 18-70 years group. Therefore, anybody who does not fall in this category is not approved a gold loan.
  4. The minimum loan amount is 18000 Rupees. And it can go up to 1 Crore depending upon the quality of gold.
  5. Gold Loan Interest Rates are quite affordable in comparison to other services.

IIFL Gold Loan Documents Required 

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

  1. Passport: Valid Copy of passport both front and last page.
  2. Voters ID card: Copy of Valid Voter Identity Card.
  3. Driving License: Copy of Driving license which is valid.
  4. Aadhar card: Copy of Aadhar Card with current information.

Applicant Address Verification Proof can be amongst the below documents(ANY):

  1. Passport: Valid Copy of passport both front and last page.
  2. Voters ID card: Copy of Valid Voter Identity Card.
  3. Driving License: Copy of Driving license which is valid.
  4. Aadhar card: Copy of Aadhar Card with current information.
  5. Utility Bills on the name of the applicant.
  6. Sales Tax Certificate.
  7. Rental Agreement.

Signature Verification Documents required are namely:

  1. Valid Copy Passport.
  2. Bank’s Verification Certificate.
  3. Cheque

For Farmers: Agriculture Land Proof.

IIFL Gold Loan Interest Rate, Fees and Charges

A Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the bank are lower in comparison to other loans because it is a fully secured loan.

The Gold Loan interest rates in the bank start at 10.50% per annum.

The bank also charges some additional fees along with the rate of interest in some cases, which are :

  • Processing fee – 1% of the loan amount + GST
  • Documentation charges 
  • Gold Valuation charges
  • The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.

IIFL Gold Loan Rate Per Gram

When it comes to a gold loan, people are generally concerned about the Gold Loan Per Gram. To get an IIFL Gold Loan, an applicant should have at least 10 grams of gold. Following is the amount of loan that banks disburse on per gram of gold:

For 18 Carat Gold 

  1. Gold Loan Amount per 10 grams= Rupees 16,000.
  2. Amount of Gold Loan Per Gram= Rupees 1,600.

For 19 Carat Gold

  1. Loan Amount per 10 grams= Rupees 17,000.
  2. Gold Loan Per Gram= Rupees 1,700.

For 20 Carat Gold

  1. Loan against Gold Amount per 10 grams= Rupees 17,500.
  2. Gold Loan Per Gram= Rupees 1,750.

For 21 Carat Gold

  1. Gold Loan Amount per 10 grams= Rupees 18,500.
  2. Gold Loan Per Gram= Rupees 1,850.

For 22 Carat Gold

  1. Gold Loan Amount per 10 grams= Rupees 20,080.
  2. Gold Loan Per Gram= Rupees 2,080.

IIFL Gold Loan Apply Online

Applying for the Gold Loan service is a hassle-free and straightforward process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.

You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.

  • Visit Dialabank’s digital platform, where you will have just to fill a form without any registration. 
  • Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs. 
  • You will get personalised service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
  • With Dialabank, you can compare the different offers and schemes from various banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.

IIFL Gold Loan EMI Calculator

 
 

How to Pay Your IIFL Gold Loan EMI?

Your IIFL gold advance can be reimbursed in the following three different ways.

  1. Standing Instruction (SI): If you are a current record holder with IIFL, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Bajaj Finance account you indicate.
  2. Electronic Clearing Service (ECS): This mode can be utilised if you have a non-IIFL account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
  3. Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-IIFL account at your closest IIFL Loan Center. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.

Gold Ornaments accepted by IIFL Gold Loan

Bank provides loan 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, Necklace, 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.

Uses of IIFL Gold Loan

The funds acquired by availing the IIFL Gold Loan service can be used for several purposes such as:

  • To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc.
  • For all your business needs such as buying raw material, expansion of business, and etc.
  • You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.

FAQ’s About IIFL Gold Loan

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.

Yes, IIFL Gold Loan is secure it is necessary to note that the Gold Loan comes in the types of secured loan. Because in case of a mortgage on gold, the applicant put their gold jewellery into the IIFL bank’s locker as security or as collateral.

If the applicant is unable to return the gold loan amount at fixed tenure, then IIFL is liable to sell his gold Jewelry.

No, to avail IIFL Gold Loan you don’t need any co-applicant.

Most importantly, you get at least 75% of their actual gold value as a Gold Loan amount. Next, the Gold loan application process takes only a few mins. Low credit score/CIBIL can even get Gold Loan. From here we can see that availing Gold Loan is a much better option than other loans.

Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.

Yes, you have to pay the loan processing fee (non-refundable) as well as Valuation fee.

Yes. You can choose to foreclose the loan any time within 1 -2 months of availing the gold loan.

Paying regular EMIs of Loan on Gold give you higher points. 150 reward point when you repay your amount this helps to maintain your Credit Score/CIBIL. Thus taking a gold loan and repaying it on time will undoubtedly boost your credit score or CIBIL score.

Gold Loan is a preferred option for any urgent monetary need. IIFL provides Gold Loan with instant approval and competitive interest rates for a loan tenure from 3 months to 11 months. The bank accepts gold of purity between 18K to 24K. The loan amount per gram in IIFL varies between ₹1600 and ₹2000, depending on the purity of your gold.

If you are looking for a quick way to avail financing, then your search ends with IIFL Gold Loan, IIFL 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.

The IIFL Gold Loan interest rates start at 10.50% per annum. The maximum rate of interest charged is 24% per annum. These rates vary according to the amount and tenure of your loan.

IIFL makes it convenient for you to repay your Gold Loan in several ways. You can pay online at IIFL’s digital payment portal through net banking and debit card, or you can pay using the IIFL Loans Mobile app.

You can apply for IIFL Gold Loan by visiting the nearest IIFL branch and fulfil all your urgent money needs quickly. With IIFL, you can use your gold to avail a gold loan of up to 75% of your gold’s market value. The average disbursement time in IIFL is a measly 30 minutes, and your gold is kept safely in the vault. You can also apply for IIFL Gold Loan online with Dialabank and get the best deals and offers with personalised assistance to walk you through the entire process.

You can renew your IIFL Gold Loan by visiting the nearest branch with your documents. Your pledged gold will go through a revaluation process and renewal fee will be charged as applicable. You will be required to fill a simple renewal form, and once everything is processed, your loan will be renewed for a new tenure.

The Gold Loan process in IIFL is straightforward and comes with a disbursement time of approximately 30 to 45 minutes. You simply have to visit the nearest branch with your gold and basic documents. The valuation of your gold will be carried out, and depending on its purity, the loan amount and rate of interest will be quoted. Once the loan process is complete, your gold will be safely placed in a vault, and the amount will be transferred to you. You can also apply online at Dialabank’s digital portal to avail personalised assistance.

IIFL Gold Loan is an easy and quick way to avail financing. You can take a loan against gold within minutes to fulfil all your financial needs. The loan amount and interest rates are dependent on the purity of your gold and vary accordingly. IIFL provides Gold Loan with an LTV ratio of up to 75% of your gold’s market value.

You can quickly get an instant IIFL Gold Loan by visiting the nearest IIFL branch with your gold and KYC documents. You can alternatively apply online at Dialabank’s digital platform and get the best deals and offers and avail personalised assistance to help you through the entire loan process.

You can check your IIFL Gold Loan status online by login on to the official website of IIFL using your customer ID and password. You can also download the IIFL Loans Mobile app on your phone and check your loan application status anytime.

Before applying for the closure of your IIFL Gold Loan, you need to make sure that you have zero pending dues. You can then visit the nearest IIFL branch with your loan documents and request for closure for your loan. They will check for overdue amount and charges if pending, and once the formalities are done, you will be handed over with your pledged gold.

The renewal process of IIFL is very simple, when the loan tenure is about to end, visit your loan branch and submit a renewal application. Your gold will then go through a revaluation based on current market rates. Once the documentation process is completed, your loan will be renewed for another tenure.

If you default on your IIFL Gold Loan and do not pay your overdue amount even after the tenure or otherwise IIFL will issue a legal notice demanding the repayment. If the payments are still pending after ten days, IIFL will publish a public advertisement for the auction of your gold. In the event of any shortfall after the sale, the deficit amount is the liability of the customer and has to be paid by them.

IIFL is present in over 2000 locations across India through which they provide Gold Loan services. You can easily walk into any of these branches with your gold to avail a Gold Loan. You can also visit Dialabank’s online portal and compare Gold Loan offers from different banks all over India.

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