Gold Loan In Latur
Latur, a town in Maharashtra, is majorly an agricultural economy, with sunflower, soybean and pulses as the chief crops from the region. Latur is also an educational hub for higher education and it has some religious and historical significance too.
Due to the economic activities in Latur, there is always a need to improve one’s standard of living or expand business. In such cases, a gold loan in Latur is the perfect solution to meeting one’s needs. With no need for a credit score, no hidden charges and the maximum value for the pledged gold, the gold loan in Latur is one of the best ways to finance planned expenses and unplanned contingencies.
Features and Benefits of Gold Loan In Latur
A gold loan in Latur has some interesting features and offers some benefits to the applicants besides the ease of application and no requirement for a credit score. Some of these features and benefits are as follows:
How To Apply For A Gold Loan in Latur
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 Latur
IIFL Finance offers their gold loan in Latur after scrutinising the application as regards the eligibility criteria and the validity of the documents. The lending company has put a few basic criteria to offer the loan only to credit-worthy borrowers who can repay on time. The eligibility criteria for a gold loan in Latur are:
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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 Latur
IIFL Finance offers one of the best gold loans in Latur. The lending company accepts a gold loan application along with a few mandatory gold loan documents. The documents are:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Bank Statement
Why Choose IIFL Gold Loan in Latur
IIFL Finance is among the well-known lending companies in Latur. One such reason for its popularity is its gold loan offering which is among the best gold loans in Latur. Some of the reasons why their gold loan is preferred are:
Highest Loan-to-Value: From among the lending companies, IIFL Finance offers the highest LTV of 75% to their borrowers, making it one of the best gold loans in Latur. This 75% is determined by the value of the gold in the physical market in Latur.
Flexible EMIs: The option to repay the loan as easy monthly installments or as a single payment makes the gold loan offering from IIFL Finance a preferred option
Gold Safety: The lending company accords utmost importance to the pledged gold by keeping it in safe vaults with 24*7 monitoring and also by providing insurance for the collateral.
Transparency: IIFL Finance maintains complete transparency throughout the entire application process for a gold loan. The lending company displays the gold loan rate in Latur along with the chargeable interest rate and other charges.
Why is Gold Loan the Most Feasible Borrowing Mode in Latur?
Latur is an agrarian economy and an education hub for higher education. It is also a religious place with devotees visiting the town on important occasions.
The nature of the town’s economy causes many natives to earn their livelihoods by being self-employed. To meet their business needs, a gold loan in Latur becomes the most feasible borrowing mode in Latur. The loan requires no credit score to be eligible for 75% of the pledged gold and the gold loan repayment terms are flexible too. The money raised can be used to meet personal or business needs.
Uses of Loan against Gold in Latur
IIFL Finance approves loans against pledged gold subject to the applicant meeting specific eligibility criteria and the submission of valid documents. When the lending company disburses a gold loan in Latur, an applicant can use the loan amount for any of the following purposes as there are no restrictions on its use.
Gold Loan in Latur FAQs
To avail a gold loan from IIFL Finance in Latur, the applicant must be an Indian citizen in the age-group of 18-70 years; should be either an employee/entrepreneur/trader/farmer/self-employed professional and, the applicant should be willing to pledge his gold having a purity of 18-22 carats.
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