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.

Quick Approval and Disbursement

IIFL Finance ensures the customer receives additional cash immediately by following a streamlined process for quick approval and disbursal of the loan.

Pledged Gold is Secured

The pledged gold is kept safe and secured in steel vaults and is backed by insurance for additional safety.

Minimum Documentation

With the requirement of minimal documentation, an IIFL Finance Gold Loan is a quick and simple option to raise additional 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 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:

  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 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.

Aadhaar Card

Valid Passport

PAN Card

Valid Driving Licence

Voter ID Card

Ration Card

Electricity Bill

Bank Statement

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.

Business Expenses -
A business owner can use the loan amount to meet operating expenses, pay salaries/rent or buy machinery.
Personal Expenses -
A borrower can use the loan amount to meet their personal needs such as, higher education, home renovation, a vacation and wedding expenses among such other expenses.
Medical Expenses -
A gold loan is an excellent way to meet soaring medical expenses, such as bill payment, hospitalisation and other related expenses.

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.

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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.

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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.

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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.

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