Gold Loan In Trivandrum
Gold has deep cultural and traditional significance in Trivandrum, the capital of Kerala. Often used in weddings, festivals, and other auspicious occasions, it symbolizes prosperity, purity, and wealth. The city boasts numerous jewellery stores and artisans who create intricate designs, attracting customers from across India and abroad. Kerala weddings are known for their grandeur, and gold plays a central role in bridal attire. In simple words, Gold is present across every household in some or the other form. Precisely why Gold Loan is among the most preferred options when it comes to raising funds immediately.
If you need a loan in Trivandrum, consider the gold loan being provided by IIFL Finance. The formalities for processing are straightforward, and the turnaround time is short. Simply put, It is a convenient solution for those who require quick cash.
Features and Benefits of Gold Loan In Trivandrum
When compared to other loan products from banks and NBFCs in the city, the Gold Loan in Trivandrum from IIFL Finance has a number of unique features and advantages. It is specifically made for Trivandrum residents who have gold jewellery to put up as collateral. Some of its most appealing benefits are:
How To Apply For A Gold Loan in Trivandrum
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 Trivandrum
IIFL Finance designs the gold loan eligibility criteria requirements to make it simple for you to borrow money, repay the loan without hassle, and receive your priceless jewellery back.
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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 Trivandrum
Only a few documents required to apply for the gold loan with IIFL Finance. All that is required are two passport-size pictures, proof of identity, and evidence of address. Hence our loans are considered to be among the best gold loans in Trivandrum. The following documents are available for selection:
Aadhaar Card
Valid Passport
PAN Card
Valid Driving Licence
Voter ID Card
Ration Card
Electricity Bill
Bank Statement
Why Choose IIFL Gold Loan in Trivandrum
If you're in need of quick and hassle-free funds in Trivandrum, look no further than an IIFL Finance gold loan. Unlike traditional loans, we offer one of the best gold loans in Trivandrum because these loans leverage your precious gold ornaments as collateral, ensuring lower gold loan interest rates and swift approval. Here are several compelling reasons to choose IIFL Finance Gold Loan in Trivandrum:
Highest Loan-to-Value: With IIFL Finance, you can access up to 75% of your gold's appraised value as a loan, depending on the weight and purity of your ornaments. We offer one of the most competitive loan-to-value ratios in the market.
Flexible EMIs: Tailor your loan repayment to suit your budget and cash flow. Choose between a bullet payment at the end of the tenure or opt for monthly or quarterly installments.
Gold Safety: Your precious gold is kept secure in state-of-the-art vaults by IIFL Finance, backed by comprehensive insurance coverage for unexpected events, providing you with peace of mind.
Transparency: At IIFL Finance, transparency is paramount. You can trust us for straightforward, fair dealings with no hidden charges or fees associated with your gold loan in Trivandrum.
Why is Gold Loan the Most Feasible Borrowing Mode in Trivandrum?
When it comes to borrowing in Trivandrum, an IIFL Finance gold loan backed by your gold collateral emerges as the most practical choice. Not only do you benefit from lower interest rates due to the collateral, but your eligibility is not hindered by a lack of credit history or a low credit score. This streamlines the loan processing timeline. Furthermore, the versatility to use the loan for any legitimate purpose of your choosing makes it the most pragmatic borrowing option in Trivandrum.
Uses of Loan against Gold in Trivandrum
IIFL Finance's gold loan in Trivandrum comes with the added advantage of "no-end-use restriction." This means borrowers are not obligated to disclose the purpose of the loan to IIFL Finance officials. While most borrowers typically use the loan for one of the following categories, there's no limitation to its use:
Gold Loan in Trivandrum FAQs
To apply for a gold loan from IIFL Finance in Trivandrum, you must meet the following criteria:
Possession of gold ornaments suitable for pledging.
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.
Age between 18 to 70 years.
Either a salaried employee or a self-employed individual with the ability to repay the loan amount.
Lower interest rates compared to most other loan options.
No restrictions on the use of loan funds.
Swift processing and disbursal of the loan.
The convenience of applying for a gold loan from the comfort of your home.
IIFL Finance offers one of the most competitive gold loan interest rates in Trivandrum. The interest rates are subject to fluctuations in line with RBI repo rates. Furthermore, the specific loan scheme you select and the loan tenure will also impact the interest rate on your gold loan in Trivandrum.
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