Bank Profile and Loan Eligibility
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IIFL is a public company.
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It is listed on BSE and NSE.
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It was incorporated in 1995.
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It is headquartered in Mumbai.
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Any individual owning specially minted gold coins sold by any Bank Gold Ornaments.
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Applicant should be above 18.
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Fino Payment Bank, eJohri, DialaBank are IIFL's loan partners.
Unique Features
Interest Rate:
0.54% per month (6.48% - 27% p.a.)
Rates are based on the amount of time and the purity of the product.
No Maximum loan limit.
Repayment Mode:
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Pay from Mobile App
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Pay at branch
Loan approval in
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5 Minutes
Loan disbursal in
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30 Minutes
Processing Fee
₹0 onwards
(Varies depending on scheme availed.)
Prepayment Charges
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0-Rs.150 before for closing the loan before 3 months.
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No charges after 3 months.
Mark-to-Market
(MTM) Charges
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Rs. 500( valuing an asset at current market value.)
Loan Limit
Rs. 3000 to No Maximum Limit
Tenure
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24 Months
Quality
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The quality of Gold should be minimum 18 carat
Key Features
Late Payment Charges
2% p.a.
Part Release
Facility
Available
Insurance
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Free insurance for pledged ornaments
Repayment Type
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Repayment Mode
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Mobile App
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At IIFL Branch
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Safety of Jewellery
IIFL is accountable for the security of your gold
Loan to Value Ratio
75%
Documents Required
How to Get a Gold Loan?
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Visit one of IIFL's 1900+ Gold Loan Branches.
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Give your Aadhaar Number. No extra documents will be necessary for your eKYC to be completed on our branches' tablets.
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PAN Card ,Valid Driving Licence,Voter ID Card,Job card issued by NREGA,Ration Card,Electricity Bill may also be required other than Aadhaar Card for identity and address proof.
What We Did Not Like
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Maximum Interest rate is 27% p.a which is very high.
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LTV can be increased.
MyRupaya Rating
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