Gold Loan In Mumbai

Mumbai is India’s biggest financial hub. One of the most fast-paced cities in India, it is also considered one of the most expensive. Living in such a city comes with the pressure of having adequate capital to fund various personal activities. If you fall short on capital, taking a gold loan in Mumbai can be an ideal approach.

Gold loan can prove to be highly beneficial for individuals looking to raise adequate funds to fulfil their capital requirements. If you have physical gold, you can effectively utilize it for taking the best gold loan in Mumbai without any restrictions on the end usage.

If you are looking for an easier and hassle-free process to raise funds, apply for an IIFL Gold loan!

Features and Benefits of Gold Loan In Mumbai

Gold loans have become a widely popular product, especially in Mumbai. IIFL Finance has a specially-designed gold loan in Mumbai as a financial product to cater to the capital needs of the people of Mumbai. Here are some of the features of the gold loan Mumbai:

Quick Approval and Disbursal

Receive a gold loan with fast disbursal, without waiting for an extended period after submitting your application.

Gold Pledge is Secured and Insured

The pledged gold is secured, safely kept in highly secured vaults and after repaying the entire loan will return the gold articles pledged

Minimum Documentation

Gold loans require minimal paperwork and documentation as the process is straightforward to ensure you can apply for the gold loan in a matter of minutes.

How To Apply For A Gold Loan in Mumbai

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

Where You Can Visit IIFL Finance Branch in Mumbai

IIFL Finance have 50+ operational gold loan branches in Mumbai. Search for “gold loan near me” on map or click here to locate the branches nearest to you.

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 Mumbai

IIFL Finance is one of the gold loan companies in Mumbai with straightforward eligibility criteria such that no requirement for a high fixed income or having a high credit score is needed to avail of a different type of loan. Here are the eligibility criteria for gold loan in Mumbai:

Check for IIFL Finance gold loan eligibility criteria :

  1. You must be a salaried employee/ businessman/ businesswoman/ trader/ farmer or self-employed professional.

  2. LTV Ratio max 75% of the pledge gold value.

  3. You should be between the age of 18-70 years.

  4. You should have gold ornaments purity 18-22 carats.

Documents Required For Gold Loan in Mumbai

Availing the best gold loan in Mumbai requires submitting some documents to prove the borrower's identity and ensure that the loan process is transparent. The borrower must provide following gold loan documents to prove identity and address as valid proof for taking a gold loan in Mumbai:

Aadhaar Card

Valid Passport

PAN Card

Valid Driving Licence

Voter ID Card

Rent Agreement

Ration Card

Electricity Bill

Salary/Income Proof

Bank Statement

IIFL Finance Offers Gold Loan At Home Services In Mumbai

Gold Loan at Home is a very convenient process wherein you can carry out the entire gold loan process within the convenience of your home.

Here's how the Gold Loan at Home service generally works:

Why Choose IIFL Gold Loan in Mumbai

IIFL Finance is one of the leading gold loan companies in Mumbai. We have designed our gold loan products to be distinctive and ensure they come with attractive and affordable gold loan interest rates. You should choose to take a gold loan Mumbai from IIFL Finance because of the following reasons:

  1. The loan amount is offered at the highest possible value of the pledged gold articles by the borrower.

  2. The pledged gold is kept highly safe in secure lockers with IIFL Finance and is backed by an insurance policy.

  3. Customised schemes as per the borrower to ensure you raise enough funds to meet all of your capital requirement needs.

  4. Flexible EMIs and repayment options to ensure the loan does not create a financial burden on the borrower.

Uses of Loan against Gold in Mumbai

Taking a loan against gold in Mumbai can prove to be the best decision for an individual who has gold articles to pledge. When you take a loan from gold loan companies in Mumbai, there aren’t any restrictions on the end-use of the loan amount. It means you can determine the usage of the loan amount at your convenience. Commonly, you can use the loan amount for:

Business Expenses -
If you are an entrepreneur who wants to open a business or run an existing business, you can avail of a gold loan in Mumbai to fund the business operations. The loan amount can be used to buy machinery, and equipment, pay rent, buy furniture or hire employees.
Personal Expenses -
You can use the gold loan amount to pay for covering personal expenses. After availing of a gold loan, you can use the loan amount to pay for marriage, education, vacation, vehicle etc.
Medical Expenses -
The loan amount availed through a gold loan in Mumbai can also be used as emergency cash to cover medical expenses. These medical expenses can include paying for the hospital charge, medicines or other pathological tests.

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

If you are a Mumbaikar, you need funds to cater to personal activities such as marriage, education, buying a vehicle etc. Furthermore, it is a high possibility that they have gold articles lying dormant in a bank locker. Taking a gold loan in Mumbai can prove to be the most feasible borrowing mode as the loan product uses physical gold as collateral and offers an adequate loan amount to the gold owners. Since the gold loan in Mumbai is backed by gold as collateral, there is no need for a credit score.

Gold Loan in Mumbai FAQs

You can apply for a gold loan when you need urgent capital funds for specific purposes such as education, medical, marriage etc. and have physical gold that you can pledge as collateral.

Was this helpful?

Gold loan is calculated based on the pledged gold and its market value in the domestic physical market. Use gold loan calculator on IIFL Finance’s website to see how much loan you get against weight of the gold.

Was this helpful?

The maximum tenure of the gold loan is 24 months.

Was this helpful?

The gold loan interest in Delhi starts with 0.99% onwards per month and rate varies as per loan amount and gold loan scheme availed.

Was this helpful?

You can go through our website for any queries on low-interest gold loans. Alternatively, you can get in touch with our customer service staff by calling on 7039-050-000 for any type of queries on gold loan finance.

Was this helpful?
Show More Show Less

Latest Blogs on Gold Loans

How To Get The Lowest Gold Loan Interest Rate
Gold Loan How To Get The Lowest Gold Loan Interest Rate

While seeking a gold loan, a crucial factor is th…

GST on Gold: Effect of GST On Gold Jewellery 2024
Gold Loan GST on Gold: Effect of GST On Gold Jewellery 2024

Gold is more than a cultural symbol in India; it…

How can I get a  Loan against Diamond Jewellery?
Gold Loan How can I get a Loan against Diamond Jewellery?

Diamonds, they say, are forever! World over, diam…

A Guide to store your Gold the right way
Gold Loan A Guide to store your Gold the right way

Investing in precious metals, such as gold, is a…

Gold Loan Popular Searches