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:
How To Apply For A Gold Loan in Bhubaneshwar
Walk into any IIFL Gold Loan branch with your gold.
Find Nearest Branch
Provide your ID proof, address proof and gold to get an instant approval
Documents Required
Simple process and in-house gold valuation ensures that you get the loan amount in your account or in cash
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 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:
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Anyone who receives a salary as well as self-employed professionals, business owners, traders, farmers, and others are all eligible.
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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.
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Age range should be between 18 to 70 years.
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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:
Gold Loan in Bhubaneshwar FAQs
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.
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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