Gold Loan In Kolhapur
If you are hit by a brainwave as you take a breather by the banks of the River Panchganga in the ancient city of Kolhapur, and are looking for a quick loan to make your dreams come true, the gold loan in Kolhapur is just the right product for you. The attractive features, affordability and accessibility of the gold loan offered by IIFL Finance make it one of the best gold loans in Kolhapur. It is one of the few multi-purpose loan products available in this intriguing temple town of Southern Maharashtra.
Features and Benefits of Gold Loan In Kolhapur
There are few loan products so easy to access and yet so versatile as the gold loan in Kolhapur. Specially designed keeping in mind that in today’s uncertain times people are often faced with emergency situations, with a pressing need for finance, the gold loan in Kolhapur can be availed by any individual who has gold ornaments of 18K to 22K purity. The most distinctive of the benefits of this loan are:
How To Apply For Gold Loan in Kolhapur
Gold Loan Calculator
Eligibility Criteria to Apply For Gold Loans in Kolhapur
The approval of your gold loan application in Kolhapur is contingent on you meeting the following eligibility criteria for gold loan:
You need to be a salaried employee/businessman/businesswoman/trader/ farmer or self-employed professional.
LTV, ratio at max 75% of the value of gold will be given as loan amount
You should be between the age of 18-70 years.
You should have gold ornaments purity 18-22 carats
Gold Loan Documents Required in Kolhapur
As with any other loan application, applicants are required to submit necessary required documents for gold loan to establish their genuine identity and address. IIFL Finance however has taken care to keep this requirement to the bare minimum making it one of the best gold loans in Kolhapur. Along with two passport-size photographs, you can choose from among the following
Valid Driving Licence
Voter ID Card
Why Choose IIFL Gold Loan in Kolhapur?
If customers of IIFL Finance choose to call this loan the best gold loan in Kolhapur, there are good reasons for it. Among the several attractive features and benefits, here are the primary ones:
Highest Loan-to-Value: This means that the loan amount offered against a fixed weight of gold is higher than any other lender in Kolhapur. As per RBI guidelines, you can get a loan of as much as 75% of the value of gold deposited.
Flexible EMIs: Repayment options are several ensuring you can choose an option to suit your repayment ability.
Safety: IIFL Finance upholds your confidence by not compromising on safety. Your valuables are stored in highly secure vaults and given a double layer of protection with insurance.
Transparency: You can depend on the officials of IIFL Finance to clearly lay out the terms and conditions of repayment as well as the penalty of late repayments or default.
Why is Gold Loan the Most Feasible Borrowing Mode in Kolhapur?
Whether you are looking for Finance to augment your business capital, or have come to Kolhapur in search of work opportunities, or whether you are an old-time resident, IIFL Finance makes no distinction. This makes the gold loan in Kolhapur one of the most feasible borrowing modes for any one who needs to raise money due to an unforeseen or unplanned expenditure. This loan does not require you to have a credit history or a good credit score.
Uses of Loan against Gold in Kolhapur
This gold loan product offered by IIFL Finance can be spent as per your discretion. IIFL Finance does not bind you down by specifying how you may use the loan. You are given the freedom to use it as you see fit. You can use it like most people for the following reasons or have some other more important one:
Medical: Expensive life-saving drugs or rehabilitation from trauma or injury - the gold loan in Kolhapur comes in handy for any kind of medical expense.
Personal: There are a range of personal uses that you can choose from: from buying of home gadgets to make life more comfortable to signing up for a course to improve your performance at work, the gold loan is the product of choice
Business: The gold loan in Kolhapur can help finance a new business or strengthen an existing one. You could use it to raise capital during an economic slump or to boost your prospects by opening an office overseas.
Gold Loan in Kolhapur FAQs
Anyone who is a resident Indian citizen between 18 years and 70 years, and who has a regular source of income with gold to put down as collateral, is qualified to apply for the gold loan of IIFL Finance in Kolhapur. If you are an NRI, you can also apply along with a co-borrower who meets this criteria
While there are several benefits of taking a gold loan in Kolhapur from IIFL Finance, the major ones are the low interest rates and the no-end-use restrictions giving you freedom of usage. Easy-to-meet eligibility criteria along with quick application processing time are some of the added benefits.
As the gold loan in Kolhapur from IIFL Finance is a secured loan, the gold loan interest rates are lower than the unsecured loans, starting at 0.99 % per month. The final rate of interest is also dependent on the loan scheme that a borrower decides to avail. These rates are subject to change without notice.