IIFL Finance provides gold loans starting from 11.88% per annum onwards for loan amounts starting at Rs 3,000, with tenures of up to 2 years. Applicants can avail IIFL Gold Loan by pledging their gold ornaments or jewelry, including necklaces, pendants, bracelets, earrings, etc., as security. The lender claims to disburse the gold loan amount within a few minutes of loan approval.
| IIFL Gold Loan Highlights | |
|---|---|
| Interest Rate | 11.88% to 27% p.a. |
| Processing Fees | Depends on the gold loan scheme availed |
| Repayment Tenure | Up to 2 years |
| LTV Ratio | Up to 75% of the value of gold pledged as collateral |
| Loan Amount | The minimum loan amount is either Rs 3,000 or the value of 1 gram of gold on a particular day, whichever is higher. |
IIFL offers gold loans with interest rates ranging from 11.88% to 27% per annum. However, the final gold loan interest rates offered by the lender may vary depending on the loan amount and repayment frequency.
Also read: Best Gold Loan Interest Rate
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
Purpose
IIFL Gold Loan at Home allows individuals to conveniently avail the loan at their doorstep to fulfill their personal, professional, and business-related needs by pledging gold as collateral.
LTV ratio
The Loan-to-Value (LTV) ratio for IIFL Gold Loans at Home can reach up to 75% of the total value of gold pledged as collateral.
Loan Tenure
The repayment tenure for IIFL Gold Loans at Home can extend up to 2 years.
Purpose
IIFL Gold Loan for Education enables individuals to obtain funds by pledging gold assets to finance their tuition fees, purchase study materials, or manage overall educational expenses.
LTV ratio
The Loan-to-Value (LTV) ratio for IIFL Educational Gold Loans can go up to 75% of the total value of gold pledged as security or collateral.
Loan Tenure
The tenure for IIFL Educational Gold Loans can extend up to 2 years.
Purpose
IIFL Gold Loan for Women enables both salaried and self-employed women to obtain funds to meet their personal, professional, or business-related needs by pledging gold ornaments or jewelry as collateral/security.
LTV ratio
The Loan-to-Value (LTV) ratio for availing Gold Loans for Women from IIFL can go up to 75% of the total value of gold pledged as security or collateral.
Loan Tenure
The repayment tenure for availing IIFL Gold Loans for Women extends up to 2 years.
Purpose
IIFL Agricultural Gold Loan enables farmers to finance the purchase of seeds and fertilizers, invest in agricultural equipment, or deal with unexpected exigencies.
LTV ratio
The Loan-to-Value (LTV) ratio for IIFL Agricultural Gold Loans can go up to 75% of the total value of the pledged gold.
Loan Tenure
Loan applicants can avail IIFL Agricultural Gold Loan with repayment periods of up to 2 years.
Purpose
IIFL Gold Loan for MSME enables entrepreneurs to utilize the loan proceeds for addressing their business-related needs by pledging their gold ornaments or jewelry as collateral/security.
LTV ratio
The Loan-to-Value (LTV) ratio for availing MSME Gold Loans from IIFL can extend up to 75% of the total value of gold pledged as collateral or security.
Loan Tenure
Loan applicants can avail IIFL MSME Gold Loans for tenures of up to 2 years.
Also read: Best Gold Loan EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fees | Depends on the gold loan scheme availed |
| TM Charges | Rs 500 |
| SMS charges | Rs 5 |
| SMS charges per quarter (payable on loan closure) | Rs 5 |
| Auction Charges | Rs 1,500 |
| Auction intimation charges | Rs 200 |
The IIFL Gold Loan Eligibility criteria specified by the lender are as follows:
Also read: Best Gold Loan Eligibility
IIFL Gold Loan applicants need to submit the following documents:
Also Read : Best Gold Loan Documents Required
Customer's gold ornaments are securely stored in a safe room constructed in compliance with government regulations. These rooms are equipped with electronic surveillance to ensure the protection of the gold.
Shriram Finance provides insurance for the gold kept as collateral by you. This ensures that in the event of theft, the borrower doesn't need to worry about the security of the gold.
The interest rate starts from 11.4% per annum (*p.a.) and you can select a loan tenure ranging from 1 month up to 12 months.
Salaried individuals, self-employed professionals, business owners, and other individuals aged between 18 and 75 years can apply for Shriram Finance Gold Loan.
The minimum age requirement is 18 years, and the maximum age limit is 75 years at the time of loan maturity.