Gold Loan In Bhubaneshwar

A gold loan is a loan given by IIFL Finance with gold deposited as collateral or security. For people of Bhubaneshwar, the temple city of India, the gold loan is an extremely useful product that can be depended on in emergencies. With the city attracting skilled and unskilled workers in droves as it expands rapidly in the sectors of education, IT, and tourism, there are several occasions when you might find yourself in need of some quick lumpsum cash to finance an urgent requirement.

While there are several banks and NBFCs offering gold loans, the Gold Loan in Bhubaneshwar offered by IIFL has several attractive features and benefits, making it advantageous as compared to those offered by other lenders.

Features and Benefits of Gold Loan In Bhubaneshwar

For people in the temple city, IIFL’s Gold Loan in Bhubaneshwar, is often like an answer to their prayers during a crisis. Here are some of its most outstanding features:

Quick Processing and Approvals:

Apply online and be assured of really quick response, approval and disbursal times

Secure Storage:

Rest easy in the knowledge of your gold being kept in highly secured vaults, further insured for additional security

Easy Documentation:

Your loan application is straightforward with limited submission of documents

How To Apply For A Gold Loan in Bhubaneshwar

01
Find Your Nearest Branch - IIFL Finance
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Walk into any IIFL Gold Loan branch with your gold.

Find Nearest Branch
02
Documents Required Icon - IIFL Finance
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Provide your ID proof, address proof and gold to get an instant approval

Documents Required
03
Simple Process Calculator - IIFL Finance

Simple process ensures that you get the loan amount

Gold Loan Calculator (Rates as on 22 May 2024)

Find out the amount you will receive against your gold jewellery
gms kg
Rate Calculated @ / Gm

*The market value of your gold is calculated by taking the 30-day average gold rate of 22-carat gold | The purity of the gold is assumed to be 22 carats.*

*You can avail a maximum loan of up to 75% of the market value of your gold, depending on the quality of the gold.*

0% Processing Fee

For All Gold Loans securities* Apply Before May 1st 2019

Eligibility Criteria to Apply For Gold Loans in Bhubaneshwar

With its simple qualifying requirements, Bhubaneshwars's IIFL Finance distinguishes out as a Gold Loan provider. To access our loans, you don't need to have a high fixed income or a perfect credit score. However, the following gold loan eligibility criteria must be met in order to qualify in Bhubaneshwar:

  1. Anyone who receives a salary as well as self-employed professionals, business owners, traders, farmers, and others are all eligible.

  2. The loan-to-value, or LTV, ratio is capped at 75%, meaning a maximum of 75% of the value of the gold will be given as loan.

  3. Age range should be between 18 to 70 years.

  4. Gold purity should be between 18 to 22 carats .

Documents Required For Gold Loan in Bhubaneshwar

You'll need to present specific documents to prove your identification and assure loan procedure transparency in order to get the best gold loan in Bhubaneshwar:

Aadhaar Card

Valid Passport

Pan Card

Valid Driving Licence

Voter ID Card

Ration Card

Electricity Bill

Salary/Income Proof

Why Choose IIFL Gold Loan in Bhubaneshwar

IIFL’s gold loan in Bhubaneshwar is one of the best gold loan products available for several reasons. Here are some of them:

1.High Loan to Value Ratio giving you a high loan amount
2.High Level of Security for the gold deposited, doubly secured through insurance
3.Customised Schemes ensure maximum loan amounts to meet your needs
4.Customised EMI and repayment options ensure borrowers are tension free

 

Why is Gold Loan the Most Feasible Borrowing Mode in Bhubaneshwar?

A Gold loan is the most feasible borrowing mode in Bhubaneshwar for several reasons. You do not need a good credit score. The gold loan in Bhubaneshwar has no end use restrictions- you can use it for anything ranging from a medical emergency to making a down payment on your dream home. Being a secured loan, interest rates are lower compared to personal loans. There are no early repayment penalties or transfer charges. You can apply online and complete all the formalities sitting at your home.

Uses of Loan against Gold in Bhubaneshwar

With its no end-use restrictions, attractive interest rates and flexible repayment options, the loan against gold in Bhubaneshwar is one of the most convenient modes of borrowing. While there are several hundred purposes for which people take the gold loan in Bhubaneshwar, here are some of them:

Business Expenses -
Your gold loan can be used to start a new business venture or expand an existing one. During market downslides, the gold loan in Bhubaneshwar can provide a much-needed cash infusion to pay employees salaries, suppliers or other business overheads. Alternatively, you could use it to refurbish office space, buy equipment or even flight tickets to meet a promising overseas buyer.
Personal Expenses -
The gold loan in Bhubaneshwar can be used to fund some personal expense, when your savings are not enough to fund the requirement. You could use it for buying gadgets such as phones, laptops, music systems or for education, marriage or holiday expenses among others.
Medical Expenses -
The loan against gold can be used for meeting medical and hospitalisation expenses, when insurance is not available or not enough. Whether medicines, surgery, pathological tests or travel expenses associated with treatment, the gold loan can be used as per your personal discretion.

IIFL Finance

 
 
 
 

Gold Loan in Bhubaneshwar FAQs

Any Indian citizen who is between 18 to 70 years of age and has a steady source of income can apply for a gold loan in Bhubaneshwar. Non-resident Indians can apply only if they apply along with a co-borrower who is an Indian citizen.

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The rate of interest on a gold loan depends on several factors. These include the current repo rates declared by RBI, your credit score, the loan amount and the loan term.

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You can check the loan amount by entering the weight of gold you wish to pledge. The gold loan calculator calculates the rate of gold assuming it to be of 22K purity. The final amount may vary depending on the actual purity of the gold.

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Any Indian citizen between 18 to 70 years of age, who has a regular income and has gold to pledge as collateral can apply for a gold loan in Bhubaneshwar.

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The gold loan approval process is extremely swift. Once you fill in the Application Form online, IIFL will assign an appraiser to assess the value of the gold and its purity. once the formalities are complete and the agreement signed, the disbursal is within a few hours.

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