Gold Loan In Hassan
In the city of Hassan in Karnataka, the gold loan is one of the most sought-after loan products by those in need of urgent cash to fulfil a long-standing need or emergency requirement. Most of the residents of Hassan make it a practice of buying a little gold whenever possible as it is considered a more stable investment when compared to several other investment products. This gold comes in handy when you need to take a gold loan in Hassan, because of the affordable interest rates and simple eligibility criteria. The features and benefits of the gold loan in Hassan from IIFL Finance are also significant and discussed below.
Features and Benefits of Gold Loan In Hassan
The loan against gold offered by IIFL Finance gives the borrower several advantages over other loan products. You can apply online with ease, from your home or your office, and be assured of quick, efficient service. The gold loan in Hassan can be taken even by those who do not have a credit score. The several attractive features and benefits include:
Gold Loan Calculator
*The market value of your gold is calculated by taking 30 days average gold rate of 22 carat gold | Purity of the gold is assumed at 22 carat.
*You can avail a maximum loan of up to 75% of the market value of your gold depending on the quality of the gold.
Eligibility Criteria to Apply For Gold Loans in Hassan
In order to avail a gold loan, borrowers are required to fulfil the following minimum gold loan eligibility criteria as described below. The criteria has been kept simple making the gold loan a loan of choice during emergencies by the residents of Hassan.
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The individual is a salaried employee/entrepreneur/self-employed/trader/farmer
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The loan-to-value ratio is capped at 75%, meaning a maximum of 75% of the value of the gold will be given as loan.
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The individual is between 18-70 years of age
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The individual has gold jewellery with a purity of 18-22 carats
Documents Required For Gold Loan in Hassan
An application for a gold loan in Hassan is only complete after submission of documents that establish the identity and the address of the borrower. These documents are those that are universally accepted by banks and NBFCs in India as address and identity proof. In addition, you must submit two passport-size photographs to complete your application and be eligible for consideration of a gold loan. You may submit this proof from among the following gold loan documents:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Bank Statement
Why Choose IIFL Gold Loan in Hassan
The gold loan in Hassan that is offered by IIFL Finance will only be considered the best gold loan in Hassan if it offers the borrowers exceptional benefits and reasons to select it. Apart from, freedom of usage and low rates of borrowing here are some of the more popular reasons for choosing IIFL Finance when you are in need of a gold loan:
Highest Loan-to-Value: When compared to other borrowers, IIFL Finance offers a high Loan to Value ratio – 75%. This means the loan amount offered to you is as high as 75% of the value of the gold in the jewellery that you offer as collateral.
Flexible EMIs: A hallmark of a good loan is the options it offers borrowers in respect of repayment. IIFL Finance provides those who opt for a gold loan in Hassan several different repayment options such as monthly equated instalments, quarterly equated instalments and bullet repayments.
Gold Safety:The high security under which your gold ornaments offered as collateral are stored by IIFL Finance make it one of the most important reasons for choosing IIFL as your gold loan provider in Hassan.
Transparency: Transparency and trust go hand in hand. The transparent manner in which the entire process from application to approval and repayment is carried out, make IIFL Finance a trusted provider for loan services by its satisfied customers.
Why is Gold Loan the Most Feasible Borrowing Mode in Hassan?
A gold loan becomes the most feasible mode of borrowing in Hassan if it is easily accessible, affordable and processing - simple and efficient. The gold loan in Hassan that is offered by IIFL Finance has all these features. As borrowers do not need to have a good credit score, the loan is easily accessible. The competitive interest rates make it affordable to the borrowers. Finally, IIFL officials take care to treat your loan application with the urgency it deserves. Once the completed application is uploaded and the gold deposited as collateral, disbursal of the loan takes place in a matter of a few working hours.
Uses of Loan against Gold in Hassan
The no-end-use-restriction feature of the gold loan in Hassan gives the borrower the right to use the loan money deposited in his or her account for any purpose so long as it is lawful at the point of usage. Most users however use it for the following three purposes:
Gold Loan in Hassan FAQs
One is considered qualified to apply for a gold loan from IIFL Finance in Hassan if you meet the eligibility criteria. To do this you must be an Indian citizen above 18 years of age and have gold to pledge as a collateral. Additionally you must be able to repay the loan before you reach the age of 70 years.
Gold loan interest rate are affordable, and move upward and downward in tune with RBI repo rates. In addition, the rate that a borrower is offered will also depend on his loan amount, loan term and the repayment option chosen.
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