Gold Loan In Bhopal

Features and Benefits of Gold Loan In Bhopal

IIFL Finance stands out as a sought-after loan provider in Bhopal, because its gold loan in Bhopal has several attractive features and benefits. You can easily apply for gold loan online and complete all the processing formalities without moving out of your home-residence. As a loan secured by gold deposited by the borrower, the loan also offers lower interest rates as compared to other loan products without collateral. The chief and most outstanding features are as follows:

Eligibility Criteria to Apply For Gold Loans in Bhopal

Just as the paperwork is minimal and easy to meet, the eligibility criteria for the gold loan in Bhopal is easy to meet. With gold to offer as a collateral, IIFL Finance protects the borrowers’ interest by ensuring that the borrower is also in a position to repay the loan and reclaim what usually is family heirlooms or jewellery with sentimental value. The basic eligibility criteria is set as follows:

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

2. LTV, ratio at max 75% of the value of gold will be given as loan amount

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

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

Why Choose IIFL Gold Loan in Bhopal?

Those on the lookout for a good loan provider in Bhopal, will find that the loan offered by IIFL Finance is one of the best gold loans in the city. Apart from the easy application procedure and home-service provided, there are several other reasons to choose the gold loan offered by IIFL Finance. These include the following:

Highest Loan-to-Value: This is the percentage amount the borrower can get, subject to the current market value of the pledged gold ornaments. IIFL Finance offers the highest LTV of 75% of the gold ornaments’ total value based on the gold rate in Mysore.

Flexible EMIs: IIFL finance makes it easy for borrowers to repay gold loans. The lending company offers the flexibility of paying in monthly EMIs or as a single payment.

Safety: We accepts responsibility for the pledged gold by securing it in steel vaults and also offering insurance against loss or damage.

Transparency: We follows a transparent process in approving and disbursing the gold loan. The interest rate and applicable charges and the factors affecting the interest rate are disclosed on the IIFL Finance website.

Uses of Loan against Gold in Bhopal

There are multiple uses the gold loan could be put to as it is a no-end-use restriction loan. The decision on usage rests entirely with the borrower, with IIFL Finance or its officials having no say in the matter. Most commonly used purposes are as follows:

Medical: The gold loan in Bhopal can be used to tide through a personal or family medical emergency. You can use it to pay for hospitalisation or surgery related expenses or even home-nursing.

Personal: People often use the loan for travel, buying gadgets for themselves or their home, wedding expenses or supplementing a home loan.

Business: The gold loan can be used for business expenditure or expansion when other less expensive loan options do not exist. The borrower is free to use it for both capital and running-expenditure.