Gold Loan In Coimbatore
Surrounded by the Western Ghats, bordering the Nilgiri and Munnar ranges and located in a biodiversity hotspot, Coimbatore might sound like a town perfect for a holiday spent in the midst of nature. But it is so much more – it is also the second largest city in Tamil Nadu and one of the largest exporters of jewellery in India. Being one of the largest exporters of jewellery, people of Coimbatore, are more aware of the value of gold than most Indian citizens. In times of financial emergency, IIFL’s , gold loan in Coimbatore is one of the most feasible options for raising quick cash, especially because of the “No End-Use Restriction” feature.
Features and Benefits of Gold Loan In Coimbatore
There are often occasions when we require lump sum cash to meet an urgent expense or to make a necessary investment but do not have it at our ready disposal. At such times the benefits of taking IIFL’s gold loan are many. Here are the main ones
How To Apply For A Gold Loan in Coimbatore
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 in-house gold valuation ensures that you get the loan amount in your account or in cash
Gold Loan Calculator
*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 Coimbatore
The gold loan eligibility criteria makes it easy for almost every adult to secure a gold loan. All you need to ensure is that
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Anyone who receives a salary as well as self-employed professionals, business owners, traders, farmers, and others are all eligible.
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The loan-to-value, or LTV, ratio is capped at 75%, meaning a maximum of 75% of the value of the gold will be given as loan.
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Age range should be between 18 and 70.
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Gold ornaments between 18 and 22 carats in purity should be in your collection.
Documents Required For Gold Loan in Coimbatore
You'll need to present specific documents to prove your identification and assure loan procedure transparency in order to get the best gold loan in Patna:
Aadhaar Card
Valid Passport
Pan Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Salary/Income Proof
Why Choose IIFL Gold Loan in Coimbatore
IIFL Finance is one of the best options for a loan against gold in Coimbatore. Here’s why:
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High Security storage of valuables pledged
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High loan amounts per gram of gold
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Customised offers to suit your needs
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Flexible repayment options
Why is Gold Loan the Most Feasible Borrowing Mode in Coimbatore?
If you are in need of raising a loan, the gold loan is the most feasible borrowing mode in this major metropolis. You can avail the loan from your home without having to worry about security while taking the gold to our offices. Even if you choose to visit the office, there are a number of branches spread over the city making it convenient. Being a secured loan, you do not need a good credit score to avail the loan and interest rates are lower in comparison to unsecured loans. In addition, you can use the loan as per your discretion. There are no clauses regarding the use of the loan.
Uses of Loan against Gold in Coimbatore
IIFL does not limit its gold loan clients’ usage of the loan to any particular purpose. The gold loan can be used for a host of purposes from topping up your home loan to going for a much-needed holiday; from tiding you through a cash crunch at your business to buying a gift for a loved one. The purpose of taking a gold loan in Coimbatore usually falls into three master categories:
Gold Loan in Coimbatore FAQs
The rate of interest on gold loans vary from time to time and change according to the existing repo rates declared by RBI. In addition, the interest rate also depends on the borrower’s profile – his or her credit score, loan tenure and repayment option chosen.
You can check the loan amount by entering the amount of gold you have to pledge. Alternatively, if you know the loan amount you require, you can enter the amount and the gold loan calculator will show you the amount of gold needed for the loan. IIFL’s calculator uses the rates of 22K carat gold for its calculation. The loan amount will be lesser than shown if the gold is of lesser purity.
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