The main features of IIFL Finance gold loan are mentioned below:
IIFL offers the following types of gold loan schemes:
The IIFL Gold Loan can be availed of by salaried employees, business persons, traders, farmers or self-employed professionals who are aged between the age of 21 to 70 years.
This IIFL Finance gold loan is an online scheme available for catering to all your emergency expenses.
IIFL gold loan interest rate starts from 0.83% onward per month (varies from 9.96% to 27% p.a.), depending on the amount of loan borrowed and repayment capacity of the borrower. There are many factors that can affect the current IIFL gold loan rate of interest, including the loan amount, gold loan per gram rate, benchmarking method, gold’s value, repayment frequency, borrower’s credit score, monthly income, and so on.
Below is the comparison of the IIFL gold loan interest rate with the interest rates of other best gold loan banks in India. You can check which bank offers the lowest gold loan interest rate in India before applying for a loan:
|Bank||Rate of Interest (p.a.)||Loan Amount||Processing Fee||Tenure|
|IIFL Finance Gold Loan||9.96% - 27%||75% to 90% of the gold’s value||Rs. 0 - 3%||1 month - 5 years|
|Indian Bank Gold Loan||8.25% p.a. onwards||Up to Rs. 10 Lakhs||Up to 0.50%||Up to 35 months|
|UCO Bank Gold Loan||7.40% - 7.90%||No upper limit||Up to 0.20%||Decided by the bank|
|PNB Gold Loan|
9% p.a. onwards
|Rs. 25 000 to Rs. 25 Lakhs||0.30% or Rs. 500 + GST, whichever is higher||Up to 12 months|
|Bank of Baroda Gold Loan||8.85%||Up to Rs. 50 Lakhs||Up to 0.50% + GST||12 - 36 months|
|Bank of India Gold Loan||8.45% - 10.40%||Up to 85% of the gold’s market value||Up to Rs. 1,000||3 -36 months|
|Union Bank of India Gold Loan||8.25% - 10.15%||Up to Rs. 25 Lakhs||As decided by the bank||Up to 3 years|
|Canara Bank Gold Loan||9.15%||Rs. 5,000 - Rs. 35 Lakhs||1%||6 - 12 months|
|HDFC Bank Gold Loan||7.60% - 17.05%||Up to Rs. 1 Crore||1%||3 - 24 months|
|Federal Bank Gold Loan||8.64% onwards||Rs. 1,000 to Rs. 1.5 Crores||Up to 0.80%||6 - 12 months|
|SBI Gold Loan||8.55% - 8.65%||Rs. 20,000 - Rs. 50 Lakhs||Nil till 31.01.2023||3 - 36 months|
|ICICI Bank Gold Loan||10% - 19.8%||Rs. 50,000 - Rs. 1 Crore||1% + GST||6 - 12 months|
|Karnataka Bank Gold Loan||9.33% to 9.95% p.a.||Up to Rs. 25 Lakhs||Up to 0.25%||6 - 12 months|
|Axis Bank Gold Loan||17% - 19%||Rs. 25,001 - Rs. 25 Lakhs||Up to 0.50%||6 - 36 months|
|Bajaj Finserv Gold Loan||9.50% - 28%||Up to Rs. 2 Crores||Rs. 99||Up to 36 months|
|Muthoot Finance Gold Loan||12% - 27%||Rs. 1,500 - No upper limit||1%||7 days - 36 months|
Apart from an IIFL Gold Loan interest rate, you will also be required to pay the following charges:
You can easily apply for an IIFL gold loan by following the steps mentioned below:
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 9.69% p.a. You can avail of emergency loan ranging from Rs 15000 to Rs 1.5 crore against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
Yes. Availing of a gold loan from IIFL is safe. The lender safely stores your pledged gold items in the well-maintained locker so that you do not have to worry about their safety.
IIFL gold loan per gram rate is currently Rs. 3,504 per gram. If you pledge 100 grams of gold, the loan amount offered will be Rs. 3,50,400. The value may differ depending on the gold rate, quantity, and value.
You can avail of a maximum loan amount of up to 75% of the market value of the gold, depending on its quality and quantity.
Yes. You can repay the gold loan in monthly instalments in a tenure varying anywhere between 1 month to 5 years.
The maximum loan repayment period available for an IIFL gold loan is up to 5 years.
You can pay IIFL gold loan EMI either online from the IIFL Loans Mobile app or offline by visiting your IIFL Gold Loan branch and paying your interest or principal amount instantly by cash.
You can contact IIFL gold loan customer care by calling 1860-267-3000 or 7039-050-000 from 9:30 AM to 6 PM any day (except Saturday, Sunday and Public Holidays).
You will require the following documents to avail of a gold loan at IIFL along with the application form: