Gold Loan In Chandigarh

As one of the earliest planned cities in post-independence India, and capital to two neighbouring states, this Union Territory has grown significantly since its early years. With newcomers regularly entering the city in search of better opportunities and livelihood, the capital requirements of the city are immense. The gold loan in Chandigarh is one of the easiest means to raise quick capital to finance any kind of need. With gold considered one of the safest and most stable assets, most residents of Chandigarh have gold at their disposal which they can put up as collateral while applying for a gold loan.

Features and Benefits of Gold Loan In Chandigarh

There are of course several money lenders in Chandigarh, as well as banks and NBFCs who offer several credit options to needy borrowers. The gold loan offered by IIFL Finance however offers several more benefits as compared to other loan products of other lenders in the city. Chief among these benefits are:

Quick Approval and Disbursement

The short time-frame within which loan applications are processed, approvals granted and disbursals of loan amount made make IIFL Finance one of the most sought-after loan providers in the city.

No End-Use Restrictions

The no-end-use-restriction feature along with the low interest rates that IIFL offers borrowers as this loan is secured by gold as a collateral make it a credit option of choice during times of need.

Minimum Documentation

To ensure that borrowers can complete their application without any difficulty, IIFL Finance has taken care to keep paperwork to the barest necessary.

How To Apply For A Gold Loan in Chandigarh

Find Your Nearest Branch - IIFL Finance

Walk into any IIFL Gold Loan branch with your gold.

Find Nearest Branch
Documents Required Icon - IIFL Finance

Provide your ID proof, address proof and gold to get an instant approval

Documents Required
Simple Process Calculator - IIFL Finance

Simple process and gold valuation ensures that you get the loan amount in your account or in cash

Gold Loan Calculator

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 Chandigarh

While all borrowers set basic criteria to avail any financial product in Chandigarh, IIFL Finance has made sure that its gold loan eligibility criteria enables borrowers to take a loan, use it responsibly, and repay it as well. To avail a gold loan in Chandigarh, you need to meet the following criteria:

  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 Chandigarh

In order to avail a gold loan in Chandigarh, you must upload the minimum necessary documents – two passport-size photographs , address proof and identity proof. IIFL Finance has made the process easy for borrowers by providing a list of gold loan documents to choose from:

Aadhaar Card

Valid Passport

PAN Card

Valid Driving Licence

Voter ID Card

Ration Card

Electricity Bill

Bank Statement

Why Choose IIFL Gold Loan in Chandigarh

Along with the low gold loan interest rates , Chandigarh residents have several other strong reasons to choose this product over other gold loan products provided by other money lenders in Chandigarh. The strongest of these reasons are briefly presented below:

Highest Loan-to-Value: This means that you will get a higher loan amount against the gold deposited as collateral as compared to that provided by other lenders. The LTV has been kept as high as 75%.

Flexible EMIs: If you are in a business or occupation that does not provide a regular fixed monthly income, the gold loan of IIFL Finance offers you several different repayment schemes.

Gold Safety: Customers remain tension-free after depositing their gold with IIFL Finance because of the high level of security that is provided to gold in their custody. This includes highly secure vaults plus insurance cover.

Transparency: As a trusted NBFC with branches all over the country, IIFL ensures that the terms and conditions of the loan agreement are transparent and easy to understand, with no hidden costs.

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

The gold loan is the most feasible borrowing mode for borrowers in Chandigarh for several reasons. Most residents have gold readily available at home. The gold loan provides an opportunity to raise money without selling this precious asset. In addition, you do not require a credit score to avail the loan. This makes processing all the more quicker when in need of money during an emergency.

Uses of Loan against Gold in Chandigarh

IIFL Finance gives you the freedom to decide how you will use the loan money that you raise. There are no pre-conditions set regarding usage. The agreed loan amount is transferred directly to your bank account for you to spend as per your need. The type of uses that people put the gold loan to usually falls within the following three categories, though you are free to use it differently:

Business Expenses -
This includes starting a new business/expansion of an existing business/operational expenditure/ capital expenditure/travel.
Personal Expenses -
This includes education/ travel/ home improvements/ top-up of home loans.
Medical Expenses -
This includes medicines/ fees/ diagnostics/ hospitalisation costs/pre and post hospitalisation costs/out-of-pocket expenditure during hospitalisation.

Gold Loan in Chandigarh FAQs

Resident Indian citizens who have gold at their disposal which they can offer freely as collateral can apply for a gold loan in Chandigarh so long as they are between the age of 18 to 70 years.

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Documentation is limited to a document showing your identity and a document showing your address. This submitted along with two passport-size photographs complete the set of documents needed to process the loan.

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If you take a gold loan from IIFL Finance, you can be assured of several benefits such as easy user-friendly online application process, home-service, quick processing, low interest rates, a high LTV ratio and minimal paperwork.

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You can avail a gold loan in Chandigarh by pledging your gold ornaments which are above 18 carat in purity.

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For a loan with no conditions attached on usage the interest rate is extremely low and starts at 0.99% per month. The final interest rate is calculated after taking into consideration the loan term, loan amount and repayment schedule.

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