Gold Loan In Tripura
Tripura, in the North East, is the second largest producer of natural rubber. It has good climatic conditions that are conducive to cultivating various crops, making it an agricultural economy. It abounds in natural resources too, and is also a tourism destination.
Given the diverse economic activities in Tripura, IIFL Finance has one such offering for its citizens looking for a loan. The lending company offers a gold loan in Tripura without any credit score, offers the highest LTV, imposes no restrictions on its use and allows flexibility in repaying the loan amount too. Thus, a gold loan in Tripura is one of the best offerings from IIFL Finance.
Features and Benefits of Gold Loan In Tripura
IIFL Finance offers a gold loan in Tripura with some interesting features and benefits. It is owing to the following features that the gold loan offering from the lending company is so popular. Some of the features and benefits are:
How To Apply For A Gold Loan in Tripura
Gold Loan Calculator
Eligibility Criteria to Apply For Gold Loans in Tripura
IIFL Finance offers a gold loan in Tripura based on some eligibility criteria the applicants must fulfill. These criteria help the lending company gauge the applicants’ creditworthiness and repayment capacity. The eligibility criteria for a gold loan in Tripura are:
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 Tripura
When applying for one of the best gold loans in Tripura, an applicant must submit the following gold loan documents:
Valid Driving Licence
Voter ID Card
Why Choose IIFL Gold Loan in Tripura
IIFL Finance offers one of the best gold loans in Tripura. Some factors that make it the best gold loan offering in the northeastern district are:
Highest Loan-to-Value: At an LTV of 75%, the loan amount by IIFL Finance is among the highest. It is determined by the current market value of the pledged gold in the market.
Flexible EMIs: The repayment feature of an IIFL Finance gold loan is flexible. The lending company allows customers to repay the loan as one single payment or in flexible monthly EMIs.
Gold Safety: Keeping in mind the safety concerns of the pledged gold, the lending company secures the same in steel vaults that are monitored 24*7. IIFL Finance also offers an insurance cover for the pledged gold.
Transparency: The lending company maintains transparency throughout the application process by disclosing the interest rate, the charges, fees and all the relevant information regarding one of the best gold loans in Tripura.
Why is Gold Loan the Most Feasible Borrowing Mode in Tripura?
Tripura is a district that has a population engaged in a wide variety of occupations. It is rich in natural resources, with natural gas deposits considered as a chief contributor to growth.
To improve their quality of life in Tripura or to finance their needs, citizens approach banks for loans. IIFL Finance offers a gold loan in Tripura, which owing to the simple application process and the requirement of minimal paperwork, is the most feasible borrowing mode in Tripura. The LTV is the highest and the loan amount can be used to finance personal, medical and business needs.
Uses of Loan against Gold in Tripura
When IIFL Finance disburses a loan against gold to its customers as a gold loan in Tripura, the applicant can use the same for any of the following purposes:
Gold Loan in Tripura FAQs
IIFL Finance has four basic criteria to determine the eligibility of an applicant. As per the criteria, an applicant must be an Indian national in the age-group of 18-70 years; should be either an employee/farmer/trader/entrepreneur/self-employed professional and the applicant should be willing to pledge his gold having a purity of 18-22 carats.
An applicant applying for a gold loan is required to do only minimal paperwork, the approval and the disbursal process takes 30 minutes, with transparency being maintained throughout the process. Also, there are no restrictions on the use of the loan amount and the repayment terms are flexible too.