Gold Loan In Bikaner

Gold is much valued in Bikaner, the city established by the proud Rao Bika who turned a barren, inhospitable terrain into a thriving oasis of trade in Central Asia. It is therefore natural that the residents of Bikaner carry on this proud tradition, developing and expanding thriving enterprises. With gold as a collateral, the gold loan is therefore a useful credit product that is offered by several banks and NBFCs in the city. The gold loan in Bikaner offered by IIFL Finance has several attractive features that take it within easy reach of the people of Bikaner. With its affordable interest rates and several credit products, IIFL Finance is a household name in Bikaner.

Features and Benefits of Gold Loan In Bikaner

The loan against gold in Bikaner offered by IIFL Finance is a dependable option in times of crises. You can easily apply for the loan online if you have gold ornaments to offer as a collateral to be deposited with IIFL during the loan period. The star features of the gold loan are as follows:

Quick Approval and Disbursement

The IIFL Finance offices in Bikaner, like their counterparts in the rest of the country, are brisk and efficient at each stage of the loan application and processing. Once the application process is complete, collateral deposited and loan approved, the loan amount is swiftly transferred into your account.

No End user Restrictions

One of the reasons that the gold loan in Bikaner is so popular is because borrowers can use the loan for any purpose whatsoever, so long as it is legal. IIFL places no restrictions on the user regarding end-usage. This gives the borrower limitless freedom.

Minimum Documentation

Despite giving the borrower unlimited freedom in respect of usage, the gold loan in Bikaner offered by IIFL involves very limited paperwork. Applicants only need to submit a standard photographic identification and proof of residence within the city to be eligible for the gold loan in Bikaner.

Gold Loan Calculator (Rates as on 19 April 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 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.

0% Processing Fee

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

Eligibility Criteria to Apply For Gold Loans in Bikaner

For those who need a gold loan in Bikaner, no matter whether the purpose is a family emergency or related to a business need, or to celebrate a special occasion, the gold loan eligibility criteria has been kept the same and easy to comply with, making it one of the best gold loans in the city.

  1. The individual is a salaried employee/entrepreneur/self-employed/trader/farmer

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

  3. The individual is between 18-70 years of age

  4. The individual has gold jewellery with a purity of 18-22 carats

Documents Required For Gold Loan in Bikaner

If you have passed the eligibility test to avail a gold loan in Bikaner, you will need to submit a few documents to make your application complete. Apart from two passport-size photographs, the gold loan documents that you need to submit are essentially of two kinds. The first is proof of identity; the second is proof of address. Complete your application by uploading from among the following documents as necessary:

Aadhaar Card

Valid Passport

PAN Card

Valid Driving Licence

Voter ID Card

Ration Card

Electricity Bill

Bank Statement

Why Choose IIFL Gold Loan in Bikaner

Affordable interest rates and easy-to-meet eligibility criteria are not the only reasons for the gold loan of IIFL Finance being considered one of the best gold loans in Bikaner. The following features make this loan product of IIFL Finance extremely appealing to borrowers:

Highest Loan-to-Value: Offering an LTV of 75%, this means that you can get a loan amount of up to 75% of the base value of gold present in the ornaments offered as collateral. You can use the online gold calculator to estimate the loan amount you will receive.

Flexible EMIs:The gold loan in Bikaner offers the borrower several repayment plans to choose from, allowing them to choose the plan depending on when they expect to be able to repay the loan with ease. If you choose the right plan, you can get the lowest gold loan interest rate in the city.

Gold Safety:IIFL Finance’s reputation as one of the best gold loan providers in the city is due in no small measure to the care taken to protect your gold. It is stored in vaults with high levels of security and given an added layer of protection with insurance.

Transparency: The highly transparent manner in which the entire loan application, processing and finalising is carried out, makes the gold loan a much sought-after credit product in Bikaner.

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

As many people in Bikaner prefer cash transactions and rarely use credit cards, many do not have a credit score tagged in their name. The gold loan in Bikaner offered by IIFL Finance does not require the borrower to have a credit score. With gold offered as a collateral, the interest rates offered are much lower than any unsecured loan product. Thus residents of Bikaner find the gold loan one of the most feasible borrowing modes whenever they need to raise money to take care of a pressing need.

Uses of Loan against Gold in Bikaner

The gold loan in Bikaner can be put to several different and varied kinds of uses as it does not come with any conditions attached regarding usage. Unlike a home loan which can only be used to buy a home, or a car loan which can only be used to buy a car, the loan money raised against a gold loan is deposited into your account. You can withdraw it for use against any purpose you see fit. The uses of the gold loan mainly fall into three categories:

Business Expenses -
Most financial institutions do not provide loans to set up a new business. The gold loan in Bikaner can however be used to start a new business venture or strengthen an existing one, making the gold loan a very versatile credit product for borrowers.
Personal Expenses -
The gold loan can be used to take care of personal expenses ranging from paying your child’s admission fees to paying the fees for a course to upgrade your own skills and knowledge. You can also use it for home improvements, travel and much more.
Medical Expenses -
It can be used for any kind of medical expenditure – preventive, therapeutic or curative. The uses range from taking diagnostic tests to out of pocket expenses during surgery and hospital admission.

Gold Loan in Bikaner FAQs

Any one who wants to apply for a gold loan from IIFL Finance in Bikaner must be at least 18 at the time of application. He or she must also be an Indian citizen, within 70 years of age.

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To complete your application for a gold loan in Bikaner one must submit at least two kinds of proof – proof of address and proof of identity.

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There are innumerable benefits to taking a gold loan from IIFL Finance. Transparent procedures, competitive interest rates, freedom of usage of loan amount, easy accessibility, affordability and flexible repayment option are just a few of the myriad benefits that are an intrinsic part of this credit product.

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The gold that you can pledge is the kind that is easily available in almost every house in Bikaner – gold ornaments of purity between 18 K to 22K.

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The gold loan interest rate is one of the most affordable starting at 0.99% per month. This may increase depending on the loan repayment term and schedule. Being dependent also on RBI repo rates, the interest rates are subject to change without notice, but are fixed once an agreement is signed.

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