Generally, the gold loan interest rate  varies between 18%-27% per annum. There are other charges that are applicable, which IIFL Finance has disclosed on its website.

You can pledge only 18-22 carat purity gold ornaments with IIFL Finance in Mysore.

A customer enjoys three major benefits from a gold loan in Mysore. One, the application process involves minimal paperwork; second, subject to the validity of the documents submitted, the loan is disbursed within 30 minutes. Finally, there are no restrictions on how to use the borrowed amount. The customer can use it to meet any legal purposes.

IIFL Finance has stipulated some eligibility criteria for customers looking to apply for a gold loan. The lending company mandates that the person be an Indian citizen; should be between 18-70 years of age; is a salaried employee/entrepreneur/trader/farmer or a self-employed professional and has gold ornaments with a purity of 18-22 carats.