IIFL Gold Loan Interest Rates

IIFL gold loan is a convenient financial solution tailored for Indian customers. It offers competitive interest rates and flexible repayment choices. By pledging gold as collateral, you can quickly access funds to meet various personal and professional needs.

IIFL Gold Loan Details

IIFL loans provide you with easy access to the quick funds that you require.

• Loan amount: Minimum amount is Rs. 3000 or the value of 1 gram of gold (whichever is higher)

• Repayment tenure: Up to 2 years, with options to repay monthly, quarterly, or annually

• Interest rate: 11.88% per annum to 27% per annum

• Loan-to-value (LTV) ratio: Up to 75% of your pledged gold’s market value

• Processing fees: Starting from Rs. 0, nominal charges may apply as per the loan scheme

• Penal charges: 0.50% per month (equivalent to 6% per annum) plus GST

• Pre-closure/part-payment charges: No charges

Take a Pre Approved Gold Loan

Gold Loan starting @ undefined% per month*

+91

Apply Now

You will receive a call from our Relationship Manager

Features of IIFL Gold Loan Schemes

• Wide interest rate: The interest rates vary between 11.88% to 27% per annum, depending on the loan scheme.

• Quick processing: Loan approval takes just 5 minutes, and funds are disbursed within 30 minutes.

• Purity requirement: Gold jewellery with a purity level of 18 carats or more is accepted.

• Open to all applicants: Available for salaried individuals, business owners, homemakers, students, and more.

• Market-based value: The gold’s value is calculated using the current per gram market price.

• Loans tailored to gold quality: Net gold weight, purity, and LTV ratio determine the loan amount, tenure, and interest rate.

• Exclusion of non-gold elements: The valuation does not include stones, gems, or other non-gold components in jewellery.

IIFL Gold Loan Schemes

• IIFL Gold Loan at Home: This option allows you to apply for a gold loan from the comfort of your home. It caters to your personal or professional needs. The tenure extends up to 2 hours, and the LTV ratio goes up to 75%.

• IIFL MSME Gold Loan: Tailored for entrepreneurs, this loan helps address business-related expenses. You can avail of up to 75% of their gold’s value with a maximum tenure of 2 years.

• IIFL Gold Loan for Women: Designed to support women for personal or business needs. It offers up to 75% of the pledged gold value as a loan, with a flexible tenure of up to 2 years.

• IIFL Agricultural Gold Loan: Ideal for farmers, this loan supports agricultural investments like seeds and equipment. It has an LTV ratio of up to 75% and a repayment tenure of 2 years.

• IIFL Gold Loan for Education: Specifically aimed at covering educational expenses, including tuition and study materials, with an LTV of up to 75% and a tenure of 2 years.

IIFL Gold Interest Rate for Loans

You get a competitive IIFL interest rate for gold loans ranging from 11.88% to 27% p.a. This is comparatively more accessible than the IIFL business loan interest rate which ranges up to 36%. The IIFL loan interest rate depends on the loan amount, repayment tenure, and frequency. These rates ensure that borrowers can access funds against their gold with manageable repayment terms. You can also use the IIFL gold loan calculator to understand the interest rate as per your requirements.

IIFL Gold Loan Fees and Charges

• Processing Fees: Starting from Rs. 0, nominal fees based on the scheme.

• MTM charges: Rs. 500

• Auction actions: Rs. 1,500

• Auction intonation charges: Rs. 200

• SMS charges: Rs. 5.90/quarter

IIFL Gold Loan Eligibility

• Salaried, self-employed, and non-salaried individuals, with no requirement for income proof.

• The minimum age is 18 years; the maximum age is 70 years at loan disbursal and 72 years at renewal.

• Gold ornaments with 18 to 22 purity are accepted.

IIFL Gold Loan Documents Required

• Identity proof: Aadhaar card, PAN card (mandatory for loans above Rs. 5 lakh), voter ID, passport, driving license, or bank statement

• Address proof: Aadhaar card, passport, driving license, electricity bill, voter ID, ration card or bank statement

Take a Pre Approved Gold Loan

Gold Loan starting @ undefined% per month*

+91

Apply Now

You will receive a call from our Relationship Manager

How to Apply for IIFL Gold Loan?

To apply for an IIFL finance gold loan, follow these steps:

1. Application: Begin by submitting your application through your preferred channel- either online via the IIFL website/app or by visiting a branch in person. IIFL also offers a convenient “Gold Loan at Home” service where a representative comes to your location.

2. Gold evaluation: A trained appraiser evaluates the purity and quality of your hold. If you have chosen the “Gold Loan at Home” service, the evaluation will be conducted at your doorstep. The loan amount is determined based on the purity and value of the pledged gold.

3. Documentation: Ensure your KYC documents (Aadhaar, PAN, etc.) are ready as per RBI guidelines. The documentation process is quick and ensures compliance with legal norms.

4. Approval and disbursement: After conforming your agreement with the loan amount and terms, the loan is approved. A minimal processing fee is deducted, ranging between 0.10% and 1%. Funds are disbursed promptly, often within minutes of approval.

IIFL Gold Loan Foreclosure and Part-Payment

• Foreclosure: Borrowers can foreclose the loan after clearing the amount before the tenure ends. Charges range from Rs. 0 to Rs. 150 for foreclosing within 3 months, with no charges after 3 months.

• Part-payment: Partially repaying the loan reduces the outstanding principal, lowering the interest burden. This option also allows partial release of the pledged gold.

IIFL Gold Loan Repayment

• At branch: You can make a repayment by visiting the nearest IIFL branch, ensuring immediate processing. You can get assistance from branch executives.

• Online: You can repay the loan through a secure online platform, accessible anytime from anywhere.

• Through the app: The IIFL Loans app provides a user-friendly way to manage loan accounts, view details, and make payments conveniently.

Conclusion

IIFL gold loans provide a secure and accessible way to unlock the value of your gold, catering to diverse financial requirements. Its customer-centric approach, transparent processes, and flexible terms make it a reliable choice for those seeking quick financial assistance. With IIFL, you can manage your immediate needs without compromising your long-term goals.

Take a Pre Approved Gold Loan

Gold Loan starting @ undefined% per month*

+91

Apply Now

You will receive a call from our Relationship Manager