Why You Should Take A Gold Loan From IIFL Finance

2 Jun, 2022 18:13 IST
Why You Should Take A Gold Loan From IIFL Finance

A gold loan is a simple and secured financial product where one can borrow money by placing one’s personal or family’s gold jewellery as collateral with a lender. One can borrow money from either banks or reputable non-banking finance companies (NBFCs).
The basic process is the same across lenders, where a borrower owning gold jewellery approaches a financer. The lender values the jewellery based on the market price of gold and offers the maximum amount that can be availed after keeping a buffer. You check the gold loan amount for your pledge gold per gram using our gold loan calculator
Based on the borrower’s choice, whether it is the actual loan amount or the time period for repayment, the lender then customises the gold loan interest rate. The lender also discloses the additional charges and fees associated with processing, managing and, at the end, closure or repayment of the loan leading to return of the gold jewellery.

Why IIFL Finance

IIFL Finance is the non-banking finance unit of one of the most prominent private financial service groups in the country—IIFL Group, formerly known as India Infoline. As a public company, it has several big investors as also over 63,000 public shareholders and is monitored by top regulatory authorities. This ensures that its processes and the loan book it manages adhere to strict protocols. 
The company has built a strong base for itself through the years. It has grown its business to become one of the leading retail-focused diversified NBFCs in India, engaged in the business of loans and mortgages. It has a pan-India reach, through both physical and digital channels, making it convenient for customers to approach and avail loans.

Wide Reach:

IIFL Finance have number of branches  across India, creating a reach to all part of India.

Gold Loan Network:

The company offers gold loans in more than 1,260 cities across 22 states, with 83% of the branches located in tier II, III cities and rural areas. There are many gold loan companies in India, but IIFL Finance stands out in the market.

Size:

It has more than doubled its assets under management over the last five years. Its AUM grew 15% to Rs 51,210 crore as of March 31, 2022, despite the second and third waves of Covid-19 pandemic.

Retail Focus:

As many as 94% of IIFL Finance loans are to retail customers.

Get Gold Loan at the comfort of your homeApply Now

Why Gold Loan From IIFL Finance

IIFL Finance uses a seedhi baat, or straight talk, approach to build customer confidence and relationship with the borrower.
The underlying approach of this strategy is to stick to the core values of honesty and transparency of keeping the customer above all else.
IIFL Finance tries to simplify the process and make it transparent enough to make it an honest transaction.
The primary rule of the seedhi baat strategy revolves around communication. This cuts off jargons or heavy words and technical terms from the interaction with the borrower to keep it simple. It also means presenting the terms of the loan clearly upfront.
So, if IIFL Finance says it processes loan applications in few minutes and disburses loan after the approval, it does stick to that promise due to its simple gold loan process. All it has to do is assess the purity of the gold jewellery and the weight of the yellow metal that its experts do swiftly once they look at the gold jewellery being used as a collateral.
IIFL Finance simple and transparent gold loan schemes has helped its AUM from the business grow to Rs 16,228 crore as of March, 31, 2022.

Key Features Of IIFL Finance Gold Loan

  • Approves gold loan in five minutes and disburses the loan amount shortly .
  • Offers loan tenure for short term.
  • Gold loan amount starting from minimum amount with no maximum limit.
  • Truly ‘digital gold loan’ offering via an end-to-end digital process for availing loan against gold jewellery.
  • Gold pledged is insured and secured in vaults.
  • Allows gold loan anytime, anywhere via its Money@Home Gold Loan scheme.
  • Provides top-up on existing loan, renewal and payment of outstanding dues digitally.

Conclusion

Gold loan is often the cheapest form of debt you can take to meet your short-term personal or small business needs. All you have to do is approach reputable lenders like IIFL Finance, which offers a swift and seamless approval and disbursal process.
IIFL Finance pan-India network and its focus on customer convenience, especially via a doorstep gold loan service, make it easier for borrowers to pledge their precious gold jewellery to take on a loan.
Its thrust on transparency further provides comfort and security to the borrowers. Moreover, unlike standalone gold loan companies, IIFL Finance also has other retail finance products and intends to build a long-term relationship with the borrowers who could be customers of its other products.

Get Gold Loan at the comfort of your home
Apply Now

Disclaimer : The information in this blog is for general purposes only and may change without notice. It does not constitute legal, tax, or financial advice. Readers should seek professional guidance and make decisions at their own discretion. IIFL Finance is not liable for any reliance on this content. Read more

Most Read
100 Small Business Ideas to Start in 2025
8 May, 2025 11:37 IST
214308 Views
₹10000 Loan on Aadhar Card
19 Aug, 2024 17:54 IST
3066 Views

Apply for Gold Loan

x By clicking on Apply Now button on the page, you authorize IIFL & its representatives to inform you about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters, whatsapp etc.You confirm that laws in relation to unsolicited communication referred in 'National Do Not Call Registry' as laid down by 'Telecom Regulatory Authority of India' will not be applicable for such information/communication.