IIFL is a well-established financial services conglomerate. It started in 1995 by a group of passionate entrepreneurs. It is a leading financial services player and a diversified NBFC, which started off as a start-up and soon grew into a diversified financial services group. Today, IIFL Holdings Limited is India’s one of the leading integrated financial services group with diverse operating businesses, which includes Non-Banking and Housing Finance, Mutual Funds, Wealth and Asset Management, Financial Advisory and Broking and Financial Product Distribution, Investment Banking and Institutional Equities. It serves more than 4 million satisfied customers across various business segments and constantly improves its strengths to deliver great service to its growing customer base.
Gold Loan Features
The gold loan offered by IIFL has below-mentioned features:
Low interest rates: High interest rates increases borrowers’ loan burden. Therefore, IIFL offers gold loan starting @ 9.24% p.a.
Loan tenure: Gold loans at IIFL can be availed for a minimum period of 3 months to a maximum of 11 months.
Loan amount: IIFL offers gold loans starting from Rs. 3000. The maximum amount that you can get is up to 75% of the gold’s market value depending on its quality.
Minimal documentation: IIFL gold loan process requires minimal documentation. To avail IIFL gold loan, all you need to provide is one address proof and one identity proof.
eKYC facility: Those who choose to give their Aadhaar number for KYC are not required to submit any other KYC document provided their Aadhaar authentication is successful.
Fast loan approval: With IIFL, gold loan applicants don’t have to wait for days to get loan approvals. Apply for IIFL gold loan online, submit your gold and required documents and get approval in 5 mins.
Quick disbursement: With IIFL, enjoy quick gold loan disbursal. IIFL’s simple and quick gold loan process ensures that you get the loan amount quickly i.e., in 30 minutes.
Flexible repayment: With IIFL gold loan, not only you get money quickly but also get multiple payment options to repay it, which includes, online payment, payment via mobile app and payment at branch.
Customised schemes: IIFL understands that different people have different requirements and therefore offers customised gold loan schemes.
Safety: At IIFL, your gold articles remain secured in a fire and burglary proof vault. The vault is always under surveillance and guarded by security. Also, the pledged gold is insured.
Interest Rate for IIFL Gold Loan
|Interest Rate||9.24% – 24% p.a.*|
*The interest rates vary according to the amount and tenure of the loan
Fees and Other Charges for IIFL Gold Loan
Mentioned below is a table featuring interest rate and the list of other applicable fees and charges on availing the IIFL Gold Loan:
|Fees||Amount to be Paid|
|Loan Processing Charges||Rs. 0 onwards depending on scheme availed|
|Foreclosure Charges||Rs. 0 to max. Rs. 150 if loan is closed within 3 months depending on scheme availed|
|MTM Charges||Rs. 500.00|
Note: GST and other Government taxes or levies etc. as applicable as per the prevailing rate will be charged extra over and above the charges and fees mentioned in the table.
Documentation Required for IIFL Gold Loan
IIFL gold loan process requires minimum paperwork. To apply for gold loan at IIFL, you need to submit one proof of identity and a proof of residence. The following documents are accepted as proofs of identity and residence:
- Aadhaar Card
- PAN Card
- Driving license
- Voter ID card
- Job Card issued by NREGA
eKYC: At IIFL, gold loan applicants also get eKYC facility. If you choose to submit Aadhaar as your proof of identity and proof of residence, you will not need to submit any other KYC document, provided your Aadhaar details are successfully verified. Additionally, your loan application also gets pre-filled with your Aadhaar details making your loan processing faster.