IIFL Gold Loan

IIFL Gold Loan Interest Rate Feb 2017

Read Reviews 5/5.0 from 1 users
Last Updated 21st Feb 2017
Interest Rate 12.00% Check Special Offer
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 3 months to 11 months
Minimum and Maximum Loan Amount Rs. 3,000 and Rs. 1,000,000
Processing Fee Nil
Prepayment Charges Nil
Apply Gold Loan Online @11.00%*
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IIFL Gold Loan Interest Rate Calculator

IIFL offers gold loan to the customers who have urgent need of money. Gold loan to be offered by IIFL has many features like:
  • Minimum loan of Rs.3000 available
  • Insurance of gold pledged
  • No extra charges for prepayment and processing

Gold Loan IIFL

Gold loan interest rates offered by IIFL are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in IIFL benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in IIFL benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
IIFL Gold Loan Rates depends upon
  • Loan amount: Gold loan rate in IIFL depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

Gold Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. IIFL allows prepayment of gold loan with Nil prepayment charges
Processing Fee- IIFL asks for a processing fee of Nil with applicable service tax
Penal Interest- IIFL charges a penal interest of 0.00% per month if you don’t pay the EMI on the due date decided by the bank

IIFL Gold Loan EMI Calculator

Gold Loan EMI of IIFL is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by IIFL is Rs. 9,645 per lakh loan amount. Gold loan EMI of IIFL depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 11 months gold loan from IIFL at interest rate of 12.00% per annum, EMI will be Rs. 9,645 per Rs. one lakh loan amount. At interest rate of 12.00% for the same loan, the EMI will be Rs. 9,645
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 12.00% per annum, the EMI would range from Rs. 34,002 to Rs. 9,645 for loan tenure ranging from 3 months to 11 months

IIFL Gold Loan Eligibility Calculator

Gold loan eligibility criteria IIFL

Eligibility of Gold loan in IIFL depends upon multiple factors:-
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: IIFL will value the jewelry based on price of 22 carat gold adjusted for purity. IIFL use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from IIFL against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from IIFL for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular Products

IIFL offers you following gold loan schemes

    Gold Loan IIFL documents required

    The documentation process of IIFL is smooth. Here is a list of documents which are required to apply for home loan from IIFL:
    • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
    • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

    Frequently Asked Questions

    What is the maximum loan tenure I can opt under IIFL jewel loan?

    IIFL offers you tenure of upto 11 months to repay your gold loan.

    Can I prepay my gold loan? What are the charges applicable?

    Yes, you can prepay your gold loan. Applicable prepayment charges - Nil.

    What is the maximum gold loan amount available?

    You can avail gold loan up to Rs. 1,000,000 from IIFL

    Compare IIFL Gold Loan

    IIFL Gold Loan in India

    IIFL Gold Loan News - Feb 2017
    19th Nov 16 IIFL Finance proposes to buy Samasta Microfinance Ltd.
    IIFL Finance, a unit of IIFL Financial Holdings got approval from Reserve Bank of India to acquire Bangaluru based microlender Samasta Microfinance Ltd. The valuation of the deal is not disclosed. The acquisition will help IIFL to enter into micro finance segment and to extend its wide ranging financial services.
    *My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.