Gold Loan In Jamnagar
Jamnagar is home to the world’s largest refinery owned by Reliance Petrochemicals. Thus, petroleum/petrochemicals is one of the major industries here. It is also known for salt production, its exports and shipping & port industries. The city also has a reputation for brass works, Bandhani and handicrafts.
Given the variety of businesses and their nature, Jamnagar employs several people in its diverse economic landscape. People desirous of living a better quality of life or wanting to scale their businesses can use their gold jewellery to raise additional cash. Citizens can apply for a gold loan in Jamnagar, which is a customised gold loan with no requirement of credit score and with one of the lowest interest rates. It is the perfect solution for one’s financial needs.
Features and Benefits of Gold Loan In Jamnagar
IIFL Finance has an excellent solution for owners of gold jewellery in Jamnagar. With their online gold loan or jewel loan offering, residents of Jamnagar can get additional cash to meet their urgent needs. Some of the features of the loan are:
Here are some reasons that make Gold Loan Jodhpur a lucrative option.
How To Apply For A Gold Loan in Jamnagar
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 ensures that you get the loan amount
Gold Loan Calculator
*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.*
Eligibility Criteria to Apply For Gold Loans in Jamnagar
IIFL Finance has made gold loan eligibility criteria a vital factor for approving a borrower’s gold loan application. IIFL Finance puts down the following criteria for considering a loan applicaton:
-
A person’s age must be between 18 - 70 years
-
Have a valid Identity and address proof
Documents Required For Gold Loan in Jamnagar
To help customers know the eligible loan amount and make correct decisions as regards their loan, IIFL Finance provides an online tool, the gold loan calculator, on its website. Potential customers must fill in the value of the pledged gold for the calculator to display the eligible loan amount.
Accepted Identity Proof
- Aadhaar Card
- Valid Passport
- PAN Card
- Valid Driving Licence
- Voter ID Card
Accepted Address Proof
- Aadhaar Card
- Valid Passport
- Electricity Bill
- Bank statement
- Valid Driving Licence
- Voter ID Card
Why Choose IIFL Gold Loan in Jamnagar
IIFL Finance offers one of the best Gold Loans in Jamnagar. Some of the important factors that make it a popular choice for residents are, the gold loan charges one of the lowest gold loan interest rates. The loan value disbursed against the pledged gold is also among the highest in the industry. By storing the pledged gold safely in secure lockers and providing insurance, IIFL Finance takes additional responsibility for the pledged gold. It also allows repayment flexibility, thus reducing the financial burden on the borrower.
Why is Gold Loan the Most Feasible Borrowing Mode in Jamnagar?
Jamnagar is a leading industrial city. The various big and small industries that comprise its business ecosystem are, petrochemicals, salt and shipping & port. Tourism is also another important industry, owing to tourists visiting the Dwarkadhish Temple and India’s first Marine National Park.
Jamnagar is mainly known for brass parts and is a major supplier to the electric and electronic factories in Delhi, Mumbai and Bangalore. Some other industries that operate in Jamnagar are engineering and machinery, plastic and oil mills. The city is home to some of the leading infrastructure companies such as, Essar Group, Larsen & Toubro, Reliance Jamnagar Infrastructure and Niho Construction Ltd.
In terms of agriculture too, Jamnagar is a leading producer of garlic, groundnuts and oilseeds. Some of the major horticultural crops are, coconut, mango, papaya and sapodilla. In an economy characterised by heterogeneous businesses, citizens need additional cash for business growth and other domestic needs. In such cases, an IIFL Finance Gold Loan is the right option to meet such personal or business needs.
Uses of Loan against Gold in Jamnagar
Yet another interesting feature of the gold loan from IIFL Finance is the ‘no end-use restriction’ on the loan amount disbursed. The borrower can use the additional cash for any of the following purposes.
IIFL Finance
Gold Loan in Jamnagar FAQs
Citizens of Jamnagar who possess valid documents, meet the eligibility criteria and can pledge gold jewellery can apply for a gold loan in Jamnagar.
IIFL Finance can charge between 11.88%-27% for a gold loan in Jamnagar. This effectively comes to 0.99% per month. The interest rates may however change, depending on the loan amount and the frequency of repayment.
To help a potential borrower know the eligible amount, IIFL Finance has put up a gold loan calculator on its website. The pledged gold and its market value in the physical gold market determine the amount of loan one is eligible for.
For IIFL Finance to approve a loan, the borrower must be, an Indian citizen in the age-group of 18-70 years; working as an employee, is an entrepreneur, a trader, a farmer, or a self-employed professional’ and have jewellery with a purity of 18-22 carats to pledge.
Latest Blogs on Gold Loans
In India, where lots of people love using gold, m…