Gold Loan In Mumbai
Mumbai is India’s biggest financial hub. One of the most fast-paced cities in India, it is also considered one of the most expensive. Living in such a city comes with the pressure of having adequate capital to fund various personal activities. If you fall short on capital, taking a gold loan in Mumbai can be an ideal approach.
Gold loan can prove to be highly beneficial for individuals looking to raise adequate funds to fulfil their capital requirements. If you have physical gold, you can effectively utilize it for taking the best gold loan in Mumbai without any restrictions on the end usage.
If you are looking for an easier and hassle-free process to raise funds, apply for an IIFL Gold loan!
Features and Benefits of Gold Loan In Mumbai
Gold loans have become a widely popular product, especially in Mumbai. IIFL Finance has a specially-designed gold loan in Mumbai as a financial product to cater to the capital needs of the people of Mumbai. Here are some of the features of the gold loan Mumbai:
How To Apply For A Gold Loan in Mumbai
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
Where You Can Visit IIFL Finance Branch in Mumbai
IIFL Finance have 50+ operational gold loan branches in Mumbai. Search for “gold loan near me” on map or click here to locate the branches nearest to you.
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 Mumbai
IIFL Finance is one of the gold loan companies in Mumbai with straightforward eligibility criteria such that no requirement for a high fixed income or having a high credit score is needed to avail of a different type of loan. Here are the eligibility criteria for gold loan in Mumbai:
Check for IIFL Finance gold loan eligibility criteria :
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You must be a salaried employee/ businessman/ businesswoman/ trader/ farmer or self-employed professional.
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LTV Ratio max 75% of the pledge gold value.
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You should be between the age of 18-70 years.
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You should have gold ornaments purity 18-22 carats.
Documents Required For Gold Loan in Mumbai
Availing the best gold loan in Mumbai requires submitting some documents to prove the borrower's identity and ensure that the loan process is transparent. The borrower must provide following gold loan documents to prove identity and address as valid proof for taking a gold loan in Mumbai:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Rent Agreement
Ration Card
Electricity Bill
Salary/Income Proof
Bank Statement
IIFL Finance Offers Gold Loan At Home Services In Mumbai
Gold Loan at Home is a very convenient process wherein you can carry out the entire gold loan process within the convenience of your home.
Here's how the Gold Loan at Home service generally works:
Choose Home or Branch Service Option in Online Application Form
An Authorized Person will visit your Home or you can visit nearby Branch
Simple Process in-house Gold Valuation
You can Get Gold Loan Amount in your Account or in Cash within 30 Minutes
Why Choose IIFL Gold Loan in Mumbai
IIFL Finance is one of the leading gold loan companies in Mumbai. We have designed our gold loan products to be distinctive and ensure they come with attractive and affordable gold loan interest rates. You should choose to take a gold loan Mumbai from IIFL Finance because of the following reasons:
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The loan amount is offered at the highest possible value of the pledged gold articles by the borrower.
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The pledged gold is kept highly safe in secure lockers with IIFL Finance and is backed by an insurance policy.
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Customised schemes as per the borrower to ensure you raise enough funds to meet all of your capital requirement needs.
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Flexible EMIs and repayment options to ensure the loan does not create a financial burden on the borrower.
Uses of Loan against Gold in Mumbai
Taking a loan against gold in Mumbai can prove to be the best decision for an individual who has gold articles to pledge. When you take a loan from gold loan companies in Mumbai, there aren’t any restrictions on the end-use of the loan amount. It means you can determine the usage of the loan amount at your convenience. Commonly, you can use the loan amount for:
Why is Gold Loan the Most Feasible Borrowing Mode in Mumbai?
If you are a Mumbaikar, you need funds to cater to personal activities such as marriage, education, buying a vehicle etc. Furthermore, it is a high possibility that they have gold articles lying dormant in a bank locker. Taking a gold loan in Mumbai can prove to be the most feasible borrowing mode as the loan product uses physical gold as collateral and offers an adequate loan amount to the gold owners. Since the gold loan in Mumbai is backed by gold as collateral, there is no need for a credit score.
Gold Loan in Mumbai FAQs
Gold loan is calculated based on the pledged gold and its market value in the domestic physical market. Use gold loan calculator on IIFL Finance’s website to see how much loan you get against weight of the gold.
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