Gold Loan In Kochi
Whenever there’s mention of Gold or Gold ornaments in India, the first name that strikes is that of the state of Kerala, more so in the thriving cosmopolitan city of Kochi. In fact, gold holds a multifaceted importance in Kochi, encompassing cultural, economic, and social dimensions, making it an integral part of the city's identity and heritage. Little wonder then that gold loan is the most preferred option for those seeking immediate funding.
IIFL Finance offers Gold Loan in Kochi with low interest rates and easy documentation. You can apply online or offline, whichever suits you better. No matter how you apply, IIFL’s gold loan is processed quickly, making it a convenient loan option for any urgent or regular need.
Features and Benefits of Gold Loan In Kochi
Among the various loan products available, the Gold Loan in Kochi from IIFL Finance has many unique features and benefits compared to other loan products from other banks and NBFCs in the city. It is specially designed for the people of Kochi with gold jewellery to pledge as collateral. Some of its most attractive features are:
How To Apply For A Gold Loan in Kochi
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 01 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 Kochi
IIFL Finance sets the gold loan eligibility criteria in a way that makes it easy for you to borrow and repay the loan without stress and get back your valuable jewellery.
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The individual is a salaried employee/entrepreneur/self-employed/trader/farmer
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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.
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The individual is between 18-70 years of age
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The individual has gold jewellery with a purity of 18-22 carats
Documents Required For Gold Loan in Kochi
IIFL Finance requires only a few documents to apply for the gold loan. All you need to provide is proof of address, proof of identity and two passport-size photos. You can choose from among the following documents:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Bank Statement
Why Choose IIFL Gold Loan in Kochi
A gold loan in Kochi from IIFL Finance is a great option for anyone who needs funds quickly and conveniently. Unlike other loans, a gold loan uses your gold ornaments as collateral, which means you can get a lower interest rate and faster approval. Here are some of the benefits of choosing IIFL Finance for your gold loan in Kochi.
Highest Loan-to-Value: You can get up to 75% of the value of your gold as a loan, depending on the weight and purity of your ornaments. IIFL Finance offers one of the highest loan to value ratios in the market.
Flexible EMIs: You can repay the loan in a way that suits your budget and cash flow. You can opt for a bullet payment at the end of the tenure, or pay monthly or quarterly installments.
Gold Safety: You can rest assured that your gold is safe and secure with IIFL Finance. We store your jewellery in high-tech vaults and also provide insurance coverage in case of any unforeseen events.
Transparency: You can trust IIFL Finance to be transparent and fair in all its dealings. There are no hidden charges or fees for the gold loan in Kochi.
Why is Gold Loan the Most Feasible Borrowing Mode in Kochi?
If you have gold to put up as collateral, the gold loan from IIFL Finance is the most practical borrowing option in Kochi. Since the gold is being used as collateral for the loan, lower gold loan interest rates are guaranteed. Additionally, you are eligible for the loan even if you have no credit history or a low credit score. This also shortens the time it takes to process loans. Another benefit of making it the most practical borrowing option in Kochi is the ability to use the money for any legal purpose of your choosing.
Uses of Loan against Gold in Kochi
The gold loan provided by IIFL in Kochi features a "no-end-use restriction," which means borrowers are not required to explain their loan's purpose to IIFL Finance Officials. Although most commonly, borrowers use the loan for one of the following three categories, there is no obligation to limit its use exclusively to these:
Gold Loan in Kochi FAQs
Firstly, you need to have gold ornaments in your possession that can be a pledged to avail a gold loan from IIFL Finance in Kochi. Additionally, you need to be an Indian citizen within the age bracket of 18 to 70 years. Besides that you should be a salaried employee or a self-employed individual so that you are capable to pay back the loan amount.
There are many advantages to getting a gold loan from IIFL Finance in Kochi. In comparison to most other loan options, the interest rates are lower. Furthermore, there are no limitations on how you can use the loan funds. Thirdly, the loan is processed and disbursed in a remarkably short length of time. Finally, you may apply for a gold loan in Kochi within the comfort of your own home.
One of the lowest gold loan interest rates in Kochi is provided by IIFL Finance. In accordance with the RBI repo rates, interest rates fluctuate upward or downward. Additionally, interest rates on gold loans in Kochi are influenced by the loan scheme you apply for and the loan length.
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