Gold Loan Interest Rates
The gold loan interest rate is a critical factor to consider before applying for a gold loan. As you have to repay the loan over the prescribed tenure, you need to pick one with an interest rate that does not create a financial burden for you.
IIFL Finance provides gold loans at attractive and affordable interest rates with its comprehensive and customised gold loan product. It is factored in the amount of loan a borrower wants to avail of to ensure that the capital requirement is effectively fulfilled.
IIFL Finance provides utmost transparency and communicates all the rates and charges including the interest rate on the gold loan.
Apart from the gold loan rate of interest that the borrowers have to pay, gold loans come with some additional charges. These charges are levied on the borrowers because of the additional services rendered by the lending company, such as IIFL. However, IIFL Finance understands that such charges are to be borne by the customer and hence, has designed the gold loan product to carry a few additional charges.
With an attractive and affordable gold loan rate of interest, IIFL Finance’s additional charges are nominal. The processing fee varies depending on the availed gold loan scheme starting from Rs 0 onwards. Furthermore, the MTM charges on IIFL’s gold loan are the lowest in the industry at a flat Rs 500.
These additional charges are listed with utmost clarity on IIFL Finance’s website to let you analyse their payment obligations before taking a gold loan. Additionally, there are no hidden costs attached to IIFL Finance’s gold loan.
Factors Affecting Gold Loan Interest Rates
Numerous factors can affect the loan against gold interest rate in India. Some of them are influenced by personal factors relating to the borrower, while others are external relating to the current economy and the domestic gold prices:
Gold Loan Interest Rate FAQs
IIFL Gold Loan Interest Rate Insights
A gold loan is a secured form of debt wherein the…