Know How Demand For Gold Loans Shines In Trying Times

The demand for an instant gold loan is witnessing the highest levels currently. Know how demands for gold loans shines in trying times at IIFL Finance.

25 Oct,2022 19:58 IST 60 Views
Know How Demand For Gold Loans Shines In Trying Times

Gold ornaments have high market value, and they work as a safety net during financial emergencies to raise instantaneous funds through gold loans. Lenders such as banks and NBFCs offer gold loans based on a certain percentage of the total gold value in the domestic market. The demand for an instant gold loan is witnessing the highest levels currently, and it has become the ideal avenue to raise funds in challenging times.

Why The Demand For Gold Loans Shines In Trying Times?

Sometimes, you may have inadequate funds and no collateral to raise money through other loan products. In such times, gold loans shine because of the following benefits.

• Immediate Capital

During financial emergencies, time is of the essence. A gold loan shines during such a time as they provide the amount you need within a short time. Lenders approve a gold loan application within few minutes and disburse the amount short time of approval into the borrower's bank account.

• No Additional Collateral

Unlike other types of loan products, the best gold loans do not require pledging a valuable asset such as real estate as collateral to avail of the loan amount. When taking an instant gold loan, the lenders provide the loan amount based on the total value of the gold ornaments without the need for any additional collateral.
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• No End-Use Restrictions

One of the biggest reasons for the loan against gold demand to increase in trying times is its flexibility concerning the end use of the loan amount. You have complete freedom to use the loan amount for any purpose. You do not need to specify the reason for using the amount.

• Added Benefit

Instead of holding the gold ornaments in a locker, you can use the jewellery to acquire a gold loan when you need the cash. The lender also safely keeps the pledged loan in a safe locker until the borrower repays the loan. It provides an ideal way to create liquidity, increasing the demand for such a reason.

Avail Of The Best Gold Loan With IIFL Finance

With IIFL Gold loan, you get industry-best benefits through our process designed to offer instant funds based on the value of your gold within 30 minutes of application. IIFL Finance Gold Loans come with the lowest fee and charges, making it the most affordable loan scheme available. With a transparent fee structure, there are no hidden costs you have to incur after applying for the loan with IIFL Finance.


Q.1: What documents are required for the IIFL Finance gold loan?
Ans: Documents required are Aadhar Card, PAN Card, Driving License, Passport, Ration Card, Electricity Bill, etc. Visit the IIFL Finance gold loan page to get the complete list of documents to submit.

Q.2: What are the interest rates on IIFL Finance Gold Loans?
Ans: The interest rates on IIFL Finance gold loans are according tothe market

Q.3: How much time does it take for the disbursal of the loan?
Ans: With IIFL Finance gold loan, the loan amount is credited directly into your bank account within 30 minutes after the loan approval.

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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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