Gold Loan In Pondicherry
In the French Riviera of the East, Pondicherry, gold is a much sought-after asset, much like in other Indian households in the south. Gold is an item of significance, not just for festivals and auspicious occasions but also as a relatively stable asset which appreciates over time. It is this quality of gold that makes it an ideal collateral while taking a loan. Thus, several banks and financial institutions offer gold loans in Pondicherry, to those in need of raising cash for any unplanned expenditure. IIFL Finance is one such loan provider, who people of Pondicherry can rely on during times of need due to the attractive loan features and affordable interest rates.
Features and Benefits of Gold Loan In Pondicherry
While it is relatively easy to get a quick loan from money lenders in Pondicherry, borrowers will find that it is far wiser to take a loan from a registered bank or NBFC as they are mandated to follow RBI norms. While there also may be several loan products available, the gold loan in Pondicherry has several benefits over other loan products. The best of the features of the gold loan in Pondicherry that IIFL Finance offers are as follows:
Gold Loan Calculator
Eligibility Criteria to Apply For Gold Loans in Pondicherry
The gold loan in Pondicherry comes with easy to meet eligibility criteria. IIFL Finance has set the gold loan eligibility criteria in such a manner so as to ensure responsible usage of the gold loan as well as timely repayments. In this way, IIFL Finance is assured that borrowers will be able to reclaim their jewellery at the end of the loan term without any difficulty. The criteria set is here below:
The individual is a salaried employee/entrepreneur/self-employed/trader/farmer
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.
The individual is between 18-70 years of age
The individual has gold jewellery with a purity of 18-22 carats
Documents Required For Gold Loan in Pondicherry
The only documentation required are those documents which establish your identity and your address in Pondicherry, along with photographs. IIFL Finance has done so to ensure that their gold loan in Pondicherry stands apart and is far more easily accessible compared to loans from other lenders in the city, and to make it the best gold loan in Pondicherry. You can submit from among the following nine gold loan documents to cover this requirement:
Valid Driving Licence
Voter ID Card
Why Choose IIFL Gold Loan in Pondicherry
The gold loan in Pondicherry offered by IIFL Finance offers several advantages over those available with private money lenders in Pondicherry, as well as those offered by other institutional lenders in the city. Thus, it is often referred to as the best gold loan in Pondicherry. Here are just a few of the many reasons for choosing the IIFL Finance Gold Loan:
Highest Loan-to-Value: The loan amount you will get is much higher than other loan providers in Pondicherry will provide you. IIFL Finance has set the LTV ratio at 75 %.
Flexible EMIs: The gold loan in Pondicherry provided by IIFL Finance offers the borrowers several flexible EMI repayment options. Apart from EMIs, borrowers can also opt for the bullet repayment option.
Gold Safety:Keeping your gold safe is as important to IIFL Finance as it is to you. Your gold is safely stored in high security vaults. In addition, insurance cover is also arranged.
Transparency: Transparent, well-explained terms and conditions ensure that customers do not face any tension or set-backs from hidden charges and costs.
Why is Gold Loan the Most Feasible Borrowing Mode in Pondicherry?
The gold loan in Pondicherry is arguably the most feasible borrowing mode in Pondicherry for those who have gold to offer as collateral. This is so because it is a secured loan and therefore offers comparatively lower gold loan interest rate compared to other unsecured loans. In addition, the short processing time and the “No End-Use Restriction” features make it possible to meet any kind of need, including urgent emergencies.
Uses of Loan against Gold in Pondicherry
With no conditions attached to the usage of the gold loan of IIFL Finance, one of the best loan providers in Pondicherry, you can use the loan for anything that meets your discretionary criteria, including but not limited to the following:
Gold Loan in Pondicherry FAQs
The gold loan in Pondicherry of IIFL Finance offers borrowers one of the lowest gold loan interest rates which start at 0.99% per month. However, this may change without prior notice as loan interest rates increase or decrease in line with RBI repo rates. The loan scheme availed also influences the gold loan interest rate.