Gold Loan In Chandigarh
As one of the earliest planned cities in post-independence India, and capital to two neighbouring states, this Union Territory has grown significantly since its early years. With newcomers regularly entering the city in search of better opportunities and livelihood, the capital requirements of the city are immense. The gold loan in Chandigarh is one of the easiest means to raise quick capital to finance any kind of need. With gold considered one of the safest and most stable assets, most residents of Chandigarh have gold at their disposal which they can put up as collateral while applying for a gold loan.
Features and Benefits of Gold Loan In Chandigarh
There are of course several money lenders in Chandigarh, as well as banks and NBFCs who offer several credit options to needy borrowers. The gold loan offered by IIFL Finance however offers several more benefits as compared to other loan products of other lenders in the city. Chief among these benefits are:
How To Apply For A Gold Loan in Chandigarh
Walk into any IIFL Gold Loan branch with your gold.
Find Nearest Branch
Provide your ID proof, address proof and gold to get an instant approval
Documents Required
Simple process and gold valuation ensures that you get the loan amount in your account or in cash
Gold Loan Calculator (Rates as on 02 May 2024)
*The market value of your gold is calculated by taking 30 days average gold rate of 22 carat gold | Purity of the gold is assumed at 22 carat.
*You can avail a maximum loan of up to 75% of the market value of your gold depending on the quality of the gold.
Eligibility Criteria to Apply For Gold Loans in Chandigarh
While all borrowers set basic criteria to avail any financial product in Chandigarh, IIFL Finance has made sure that its gold loan eligibility criteria enables borrowers to take a loan, use it responsibly, and repay it as well. To avail a gold loan in Chandigarh, you need to meet the following criteria:
-
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 Chandigarh
In order to avail a gold loan in Chandigarh, you must upload the minimum necessary documents – two passport-size photographs , address proof and identity proof. IIFL Finance has made the process easy for borrowers by providing a list of gold loan documents to choose from:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Bank Statement
Why Choose IIFL Gold Loan in Chandigarh
Along with the low gold loan interest rates , Chandigarh residents have several other strong reasons to choose this product over other gold loan products provided by other money lenders in Chandigarh. The strongest of these reasons are briefly presented below:
Highest Loan-to-Value: This means that you will get a higher loan amount against the gold deposited as collateral as compared to that provided by other lenders. The LTV has been kept as high as 75%.
Flexible EMIs: If you are in a business or occupation that does not provide a regular fixed monthly income, the gold loan of IIFL Finance offers you several different repayment schemes.
Gold Safety: Customers remain tension-free after depositing their gold with IIFL Finance because of the high level of security that is provided to gold in their custody. This includes highly secure vaults plus insurance cover.
Transparency: As a trusted NBFC with branches all over the country, IIFL ensures that the terms and conditions of the loan agreement are transparent and easy to understand, with no hidden costs.
Why is Gold Loan the Most Feasible Borrowing Mode in Chandigarh?
The gold loan is the most feasible borrowing mode for borrowers in Chandigarh for several reasons. Most residents have gold readily available at home. The gold loan provides an opportunity to raise money without selling this precious asset. In addition, you do not require a credit score to avail the loan. This makes processing all the more quicker when in need of money during an emergency.
Uses of Loan against Gold in Chandigarh
IIFL Finance gives you the freedom to decide how you will use the loan money that you raise. There are no pre-conditions set regarding usage. The agreed loan amount is transferred directly to your bank account for you to spend as per your need. The type of uses that people put the gold loan to usually falls within the following three categories, though you are free to use it differently:
Gold Loan in Chandigarh FAQs
Latest Blogs on Gold Loans
While seeking a gold loan, a crucial factor is th…
Gold is more than a cultural symbol in India; it…
Diamonds, they say, are forever! World over, diam…
Investing in precious metals, such as gold, is a…