Calculate How Much Gold Loan You Need And Apply Online

Want to calculate the gold loan amount? Know all about gold loan calculator & how to use it for calculating in simple & easy way with IIFL Finance!

11 Jan,2024 12:28 IST 551
Calculate How Much Gold Loan You Need And Apply Online

If you require a gold loan, you need to know the amount you need and the interest that ensues therein. IIFL Finance has an online gold loan calculator where you can enter details such as duration, gold weight, purity, etc. This interactive online tool enables you to know how much you can borrow and the EMI amount you need to pay.

Gold is not only a precious metal that can be worn as jewellery but also a valuable asset that can be used as collateral for a loan. If you need urgent funds for any personal or business purpose, you can pledge gold loan against jewellery and get a loan against it. This is called a gold loan or a jewellery loan.

But how do you know how much of a loan amount you can get for your gold jewellery? And what are the interest rates and repayment options for such a loan? This is where a gold loan calculator comes in handy.

A gold loan calculator is an online tool that helps you estimate the loan amount, gold loan interest rate, and EMI for a gold loan. You can use the IIFL Finance gold loan calculator to get an instant quote for your gold loan online. All you need to do is enter some details, such as the duration of the loan, the weight and purity of your gold, and the loan-to-value ratio (LTV).

What is LTV, and how does it affect the gold loan amount?

LTV and gold loan amount: LTV stands for loan-to-value ratio, commonly referred as gold LTV ratio, which is the percentage of the market value of your gold that the lender is willing to lend you. The higher the LTV, the higher the loan amount you can get.

Factors affecting LTV: The LTV may vary depending on the lender, the type and quality of your gold, and the prevailing market conditions. The RBI has set a maximum LTV of upto 75% for gold loans, but lenders may choose to offer a lower LTV.

LTV and interest rate: The LTV also affects the interest rate and the risk involved in the gold loan. The higher the LTV, the higher the interest rate and the risk of default. Therefore, you should choose an LTV that suits your needs and repayment capacity.

So, in a nutshell, if you think you need a gold loan, it is suggested that you take just the amount you require, or you are certain that you can easily pay that amount. Because no matter how tempting it is to take all the money you can get against your gold, no one likes to pay huge EMIs. So while applying make sure you should know jewel loan interest rate or gold loan rate of interest, how much loan against gold is taken, benefits of gold loan over a traditional loan, how to apply gold loan, gold loan documents required, if gold loan at home is available by the company.

Get Gold Loan at the comfort of your home
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If you are looking for a quick and easy way to get funds for your urgent needs, you may consider taking a gold loan from IIFL Finance. A gold loan is a secured loan where you pledge your gold jewellery as collateral and get money in return. IIFL Finance offers many benefits for gold loan borrowers, such as instant approval and disbursal, high loan amounts, low-interest rates, flexible repayment options, and safe and secure storage of your gold. You can also avail yourself of a digital gold loan facility that allows you to access your loan from your mobile phone. A gold loan from IIFL Finance can help you meet your financial goals without any hassle.

A gold loan is a convenient way to get funds by pledging your gold jewellery as collateral. You can apply for a gold loan from IIFL Finance in a few easy steps. First, visit their website and use their gold loan calculator to get an estimate of your loan amount. Next, fill in your details and submit your application online. Then, visit the nearest branch with your gold and ID proof and get your loan approved and disbursed. Finally, repay your loan as per your chosen option and get your gold back. You will need to provide proof of identity, address proof, and two photographs to apply for a gold loan from IIFL Finance.

The gold loan calculator online is easy to use, delivers fast and accurate results, and helps users in financial planning.

Please note that the calculation done by the online calculator is indicative and may change upon the actual valuation of gold at the IIFL Finance branch office. Furthermore, this should not be considered a solicitation for the purchase or sale of any financial instrument.

Apply For A Digital Gold Loan With IIFL Finance

IIFL Finance Gold Loan is India's leading provider of gold loans.

It offers competitive lowest gold loan interest rates and flexible repayment terms for short-term gold loans. When you get a gold loan from IIFL, your collateralized physical gold is kept safe until you pay the total amount. Your gold can then be redeemed and returned at no additional cost. You get immediate funds for your gold jewellery.

Additionally, IIFL Digital Gold Loan facility allows you to access gold loans anytime. Get funds in a hassle-free, paperless transaction from your mobile phone. The entire process is transparent, has no hidden charges, and your gold gets free insurance cover from us.

Reach out to IIFL Finance to get an instant loan against gold jewellery at competitive gold loan interest rates.

Frequently Asked Questions

Q1: What Are Some Factors That Affect The Gold Loan Interest Rate?
Ans: Personal credit score, the tenor of the loan, income level of the borrower, etc. are some factors that determine the interest rate on gold loans.

Q2: Are There Any Eligibility Criteria For Applying For Gold Loans?
Ans: An Indian above the age of 18 and in possession of gold can apply for a gold loan.

Q3: What Is The Loan-To-Value Ratio?
Ans: Loan-to-value ratio or LTV is the proportion of an asset's value that a lender is willing to provide finance against. The RBI mandates that the LTV should be upto 75%. Lenders may choose to decide on a lower LTV.

Q4: Why Should I Choose IIFL Finance For My Gold Loan Needs?
Ans: With an IIFL gold loan, you can get an immediate loan against your gold jewellery. The loan amount starts from as low as INR 3,000 and there is no upper limit. Your loan can be approved in 5 minutes, disbursed in 30 minutes and the gold pledged is secured and insured. There are no hidden charges and the entire process is fully transparent.
*Terms & Conditions applied

Q5: How Do I Repay The Gold Loan Availed From IIFL Finance?
Ans: You can repay your loan at any 260+ IIFL Finance-Gold Loan branch. You may also choose to make online gold loan repayment. However, the gold can be redeemed from the same branch where the loan was taken.

Q6: What Are Some Factors That Affect The Gold Loan Interest Rate?

Ans: Personal credit score, the tenor of the loan, income level of the borrower, etc. are some factors that determine the interest rate on gold loans.

Q7: Are There Any Eligibility Criteria For Applying For Gold Loans?

Ans: An Indian above the age of 18 and in possession of gold can apply for a gold loan.

Q8: What Is The Loan-To-Value Ratio?

Ans: Loan-to-value ratio or LTV is the proportion of an asset's value that a lender is willing to provide finance against. The RBI mandates that the LTV up to 75%. Lenders may choose to decide on a lower LTV.

Q9: Why Should I Choose IIFL Finance For My Gold Loan Needs?

Ans: With an IIFL gold loan, you can get an immediate loan against your gold jewellery. The loan amount starts from as low as INR 3,000 and there is no upper limit. There are no hidden charges and the entire process is fully transparent. *Terms & Conditions applied.

Q10: How Do I Repay The Gold Loan Availed From IIFL Finance?

Ans: You can repay your loan at any 2600+ IIFL Finance-Gold Loan branch. You may also choose to make online gold loan repayment. However, the gold can be redeemed from the same branch where the loan was taken.
Get Gold Loan at the comfort of your home
Apply Now

Disclaimer: The information contained in this post is for general information purposes only. IIFL Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Gold/ Personal/ Business) loan product specifications and information that maybe stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Gold/ Personal/ Business) loan.

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