Gold Loan In Coimbatore

Surrounded by the Western Ghats, bordering the Nilgiri and Munnar ranges and located in a biodiversity hotspot, Coimbatore might sound like a town perfect for a holiday spent in the midst of nature. But it is so much more – it is also the second largest city in Tamil Nadu and one of the largest exporters of jewellery in India. Being one of the largest exporters of jewellery, people of Coimbatore, are more aware of the value of gold than most Indian citizens. In times of financial emergency, IIFL’s , gold loan in Coimbatore is one of the most feasible options for raising quick cash, especially because of the “No End-Use Restriction” feature.



Features and Benefits of Gold Loan In Coimbatore

There are often occasions when we require lump sum cash to meet an urgent expense or to make a necessary investment but do not have it at our ready disposal. At such times the benefits of taking IIFL’s gold loan are many. Here are the main ones

Quick Approvals, Quicker disbursals:

Approval and disbursal of loans are done with efficient speed, vital in an emergency

High Security Storage of pledged jewellery:

IIFL stores your precious family jewellery in high security vaults, providing and added layer of protection with insurance

Quick, Easy Documentation:

Document submission and paperwork are minimal

How To Apply For A Gold Loan in Coimbatore

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 in-house gold valuation ensures that you get the loan amount in your account or in cash

Gold Loan Calculator (Rates as on 04 December 2023)

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 Coimbatore

The gold loan eligibility criteria makes it easy for almost every adult to secure a gold loan. All you need to ensure is that

  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 and 70.

  4. Gold ornaments between 18 and 22 carats in purity should be in your collection.

Documents Required For Gold Loan in Coimbatore

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 Patna:

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 Coimbatore

IIFL Finance is one of the best options for a loan against gold in Coimbatore. Here’s why:

  1. High Security storage of valuables pledged

  2. High loan amounts per gram of gold

  3. Customised offers to suit your needs

  4. Flexible repayment options

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

If you are in need of raising a loan, the gold loan is the most feasible borrowing mode in this major metropolis. You can avail the loan from your home without having to worry about security while taking the gold to our offices. Even if you choose to visit the office, there are a number of branches spread over the city making it convenient. Being a secured loan, you do not need a good credit score to avail the loan and interest rates are lower in comparison to unsecured loans. In addition, you can use the loan as per your discretion. There are no clauses regarding the use of the loan.

Uses of Loan against Gold in Coimbatore

IIFL does not limit its gold loan clients’ usage of the loan to any particular purpose. The gold loan can be used for a host of purposes from topping up your home loan to going for a much-needed holiday; from tiding you through a cash crunch at your business to buying a gift for a loved one. The purpose of taking a gold loan in Coimbatore usually falls into three master categories:

Business Expenses -
You could use the loan to begin a business venture if you are bitten by the entrepreneurial bug. If you already have a business, you can use it to expand and strengthen the same. You could set up a new manufacturing unit or upgrade an existing one. You could even use it to meet running expenditure during a business slump.
Personal Expenses -
You could use the gold loan in Coimbatore for your personal expenses as well. You could buy a phone, a laptop, or a music system. You could also use it to renovate, remodel, furnish or refurbish your home. You could also use it for financing a car, higher studies or even marriage expenses.
Medical Expenses -
The quick approval procedure makes the gold loan in Coimbatore ideal for meeting emergency medical expenses – whether hospitalisation, personal attendant charges, medicines or even out-of-pocket expenses during hospitalisation when such bills are not covered by insurance.

Gold Loan in Coimbatore FAQs

A gold loan in Coimbatore can be availed by anyone who is an Indian citizen between 18 to 70 years of age who is either salaried or self-employed. Of course, mandatory to availing a gold loan is having gold to pledge as collateral.

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The rate of interest on gold loans vary from time to time and change according to the existing repo rates declared by RBI. In addition, the interest rate also depends on the borrower’s profile – his or her credit score, loan tenure and repayment option chosen.

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You can check the loan amount by entering the amount of gold you have to pledge. Alternatively, if you know the loan amount you require, you can enter the amount and the gold loan calculator will show you the amount of gold needed for the loan. IIFL’s calculator uses the rates of 22K carat gold for its calculation. The loan amount will be lesser than shown if the gold is of lesser purity.

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Indian citizens between 18 to 70 years of age, having gold to pledge as a collateral can avail of a gold loan in Coimbatore. In addition, NRIs are also eligible to apply if they apply with a co-borrower who meets the mentioned criteria.

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Once the application is properly filled up, gold valuation completed, and the agreement signed, disbursal of the loan is almost instantaneous.

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