IIFL Gold Loan

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IIFL Gold Loan Details

Anyone can apply for a gold loan from IIFL with minimum loan amount starting at Rs.3,000 and rate of interest from 6.5% p.a. onwards. The maximum repayment tenure is up to 2 years, and depending on your loan amount a processing fee will be charged by the bank where the minimum fee can be Rs.0.

Interest Rate6.5% p.a. – 27% p.a.
Loan AmountRs.3,000 onwards
Loan Tenure2 years
Processing FeeRs.0 onwards

IIFL is one lender which offers you the option of availing a gold loan from them by pledging gold as collateral.

Types of gold loan schemes offered by IIFL Finance

There are two types of gold loan schemes offered by IIFL Finance:

IIFL SPL 1

  • You can avail a loan with minimum loan amount of Rs.3,000.
  • Repayment tenure of up to 2 years.
  • Insurance cover for free for ornaments pledged
  • Digital facility available

IIFL Agri Loan

  • This loan scheme is suitable for those who are farmers or in similar line of work.
  • Minimum loan amount you can avail is Rs.3,000.
  • Loan can be availed at attractive interest rates.

IIFL SPL 2

  • Avail gold loan with minimum loan amount of Rs.5 lakh.
  • Interest rate charged is 9.96% p.a.
  • Repayment tenure of up to 2 years.
  • Digital facility available.
  • Insurance cover for free for ornaments pledged.

IIFL SPL 3

  • This loan is ideal for those who own a business of their own.
  • Avail gold loan with minimum loan amount of Rs.10 lakh.
  • Interest rate charged is 9.48% p.a.
  • Digital facility available.
  • Insurance cover for free for ornaments pledged.
  • Repayment tenure of up to 2 years.

Features of availing a gold loan from IIFL

  • You can avail a gold loan at attractive rates of interest
  • Minimum loan amount of Rs.3,000
  • You can customise schemes as per your requirement
  • Flexible modes of repayment

Why should you avail a gold loan from IIFL?

  • PAN India branch network
  • More than 5 million satisfied customers
  • The loan availing process is completely transparent
  • Care is taken to ensure the gold pledged by you secured and insured
  • The lender boasts of having a dedicated support team
  • Loan is approved within 5 minutes
  • The loan amount will be disbursed within 30 minutes post the sanctioning of your loan application

Rates and charges of IIFL Gold Loan

Interest rate0.54% p.m. or 6.5% p.a. onwards
Processing FeeRs.0 onwards depending on the scheme availed
MTM ChargesRs.500

IIFL Gold loan Documents required

IIFL has made sure that the process of submission of documents is hassle-free. You have the option of walking into any of the 1,900+ branches of IIFL with the necessary documents. The lender will approve your gold loan application within 5 minutes if the document submitted by you is correct and the gold pledged by you meets the requirement.

If you have an Aadhaar, then the lender will complete the eKYC process on their tablets and you will not be required to submit any other documents.

Given below are the list of documents you will have to submit while applying for a gold loan from IIFL:

  • Proof of identity such as Aadhaar, PAN Card, passport, driving license, etc.
  • Proof of address such as Aadhaar, passport, driving license, job card issued by NREGA, voter’s ID card, etc.

Gold loan repayment

  1. Online: You can visit the official website of IIFL and log in using your credentials and make the payment online via net banking, debit/credit card, or UPI.
  2. Through app: You can also repay your gold loan through the IIFL app. All you have to do is download the IIFL app, log in using your credentials, and make the payment via net banking, credit/debit card, or UPI.
  3. By visiting the branch: You can visit the nearest branch of IIFL and ask a representative to guide you through the process of repaying the loan amount including the interest.

How to apply for a gold loan from IIFL

You can apply for a gold loan both online and offline, and by using the IIFL mobile app.

Online

You can visit the official website of IIFL where on visiting the ‘Gold Loan’ page, you will be able to locate the ‘Apply Now’ option. Enter your details and click on ‘Submit’. Follow the instructions and submit the necessary documents. Pledge gold, and the lender will then review the documents and the gold pledged. If all the documents are found to be correct and the pledged gold meets the requirement, the lender will approve your loan and disburse the loan amount to your bank account.

One can also download the IIFL mobile app and log in using your credentials. Follow the instructions given and submit the documents including pledging your gold. If you meet the criteria, the lender will approve your loan and disburse the loan amount to your bank account.

You can also apply for a gold loan by visiting the official website of National info and apply for a gold loan from IIFL. Submit the documents and pledge your gold. The lender will review the application form and if they are found to be correct, will disburse the loan amount to your bank account.

Offline

You can visit the nearest branch of IIFL and apply for a gold loan scheme. Make sure you carry all the necessary documents including the gold to pledge. A representative from the lender will help you with the process of applying for a gold loan scheme from IIFL

FAQs on IIFL Gold Loan

What guarantee of security do I get for my jewelry pledged with IIFL?

The jewelry pledged by you is kept in a fire and burglary proof vault in the lender’s Gold Loan branch which is completely secure. The branch is under continuous monitoring and electronic surveillance. The jewelry pledged by you is also insured.

Does IIFL provide an Gold loan EMI calculator?

Yes, you can visit the official website of IIFL and use their gold loan EMI calculator to determine the loan amount, repayment tenure, and rates of interest that will be suitable for you. The EMI calculator is user friendly and all you have to do is enter the required details.

You can also use the gold loan EMI calculator by BankBazaar by visiting its official website.

Can I part release my gold loan?

Yes, you can part release your gold loan provided you have paid back a part of the loan amount as per the value of gold.

What is the security I will need to provide in order to avail a gold loan from IIFL?


You can pledge any gold ornament or jewelry over 18 carats in order to avail a gold loan from IIFL.

How much time will it take for my IIFL gold loan application to get approved and loan amount to be disbursed?


If all the documents submitted by you is correct, and the gold pledged by you meets the standards, then it will take only 5 minutes for the lender to approve your loan and 30 minutes for them to disburse the amount to your bank account.

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