Gold Loan for Agriculture
Agriculture forms the backbone of the economy in India. Farmers and cultivators can meet their financial needs by using their gold jewellery to apply for agricultural gold loan, also referred to as agri gold loan. These gold loans for agriculture allow them to access funds for various agriculture-related purposes, such as buying seeds and fertilizers, investing in equipment or dealing with unexpected costs. By using their gold holdings as a source of finance, they can enhance their economic situation in rural areas, support sustainable farming methods and boost agricultural development.
With a commitment to transparency and competitive interest rates, IIFL Finance stands out as a trusted partner for farmers seeking reliable financial solutions in the form of agri gold loans. The streamlined application process, coupled with a collateral-friendly approach, ensures quick access to funds, precisely when you need them for agricultural endeavours. Apply for an Agricultural Gold Loan at IIFL Finance today!
Agriculture Gold Loan Interest Rate
When you are considering an agri gold loan, the interest rate is crucial. IIFL Finance distinguishes itself with affordable and transparent gold loan interest rates. With clear communication on all rates and charges, you are free to make informed decisions, ensuring your capital needs are met without undue financial strain.
- Interest Rate
0.99% onward p.m.
(11.88% - 27% p.a.)Rates vary according to the loan amount and repayment frequency
- Processing Fee
₹0 onwards
Varies depending on scheme availed
- MTM Charges
₹500.00
Valuing an asset to reflect its current market rate
- Auction Charges
₹1500.00
Overdue Notice Charges: ₹200
How to Apply for Agriculture Gold Loan
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
Agriculture Gold Loan Calculator
*The market value of your gold is calculated by taking the 30-day average gold rate of 22-carat gold | The purity of the gold is assumed to be 22 carats.*
*You can avail a maximum loan of up to 75% of the market value of your gold, depending on the quality of the gold.*
Why Avail of Agriculture Gold Loan from IIFL Finance?
IIFL Finance, a trusted name in financial services, offers specialized gold loans for agriculture to support farmers with their financial needs. Here’s why you should avail them:
- Tailored Gold Loans for Agriculture: IIFL Finance offers customized gold loans for agriculture, designed to meet the specific needs of farmers.
- Extensive Branch Network: With a wide presence across 2,600+ branches in India, IIFL Finance ensures accessibility for farmers nationwide.
- Straightforward “Seedhi Baat” Approach: Transparency in gold loan interest rates, processing charges, and terms ensures a hassle-free experience.
- Safety First: Pledged gold is stored in secure vaults and insured for added peace of mind.
- Easy Application Options:
- Apply online through user-friendly digital channels.
- Visit a nearby branch for personalized assistance.
- Quick and Hassle-Free Process: The agri gold loan procedure is streamlined to save time and effort for farmers.
- Customer-Centric Services: IIFL Finance prioritizes farmers' needs, making it a top choice for gold loans for agriculture in India.
What is an Agriculture Gold Loan?
An Agricultural or Agri Gold Loan is a financial product specifically tailored for farmers, providing them with a reliable and swift source of funds by leveraging their gold assets. In this arrangement, farmers pledge their gold ornaments as collateral, unlocking the intrinsic value of their gold to meet various farming expenses. It could be either buying machinery or vehicles such as tractors or buying fertilizers, seeds or even a specific training to enhance their skills. An agriculture gold loan in India provides farmers with quick financial support, using their gold as collateral. Farmers can secure funds to sustain their agricultural activities by leveraging their gold without selling it.
A gold loan for agriculture is typically offered at a low-interest rate, making it a cost-effective solution for farmers. This unique financial instrument not only supports agricultural activities such as equipment purchase and crop cultivation but also allows farmers to utilize their idle gold, ensuring a seamless blend of traditional wealth and modern financing in the dynamic agricultural landscape.
Customized gold loan schemes, designed to meet individual borrower needs and fulfill diverse capital requirements.
Eligibility Criteria For Agriculture Gold Loan
The eligibility conditions for an Agriculture gold loan from IIFL Finance include:
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An individual age must be a minimum of 18 years and maximum of 70 years
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An individual must be a salaried, businessman, trader, farmer or self-employed professional.
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The gold kept as security should have a purity of 18-22 Carat
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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.
Documents Required for Agriculture Gold loan
A gold loan borrower must submit a few documents as part of the Reserve Bank of India’s Know Your Customer (KYC) norms. Know More about gold loan document options
Accepted Identity Proof
- Aadhaar Card
- Valid Passport
- PAN Card
- Valid Driving Licence
- Voter ID Card
Accepted Address Proof
- Aadhaar Card
- Valid Passport
- Rent Agreement
- Electricity Bill
- Bank statement
- Valid Driving Licence
- Voter ID Card
Gold Loan for Agriculture FAQs
An agricultural gold loan is a financial arrangement where farmers leverage their gold assets as collateral to secure funds for agricultural needs without selling the gold. The purity of gold has to be within the range of 18-22 carats.
IIFL Finance offers gold loan schemes at affordable gold loan interest rate ranging from 11.88% to 27% p.a. But it may vary from case to case depending on the loan amount and the repayment frequency.
IIFL Finance's Agriculture Gold Loan provides farmers with
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Quick and hassle-free financial solution for farmers.
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Competitive and cost-effective interest rates
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Leverages the value of gold assets as collateral.
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Empowers agricultural communities to meet farming needs promptly.
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Flexible repayment options
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Allows farmers to retain ownership of their cherished gold possessions.
The maximum tenure for agriculture gold loan is 24 months
Farmer pledges the gold jewellery by visiting to the nearest IIFL Finance branch, our IIFL representative team will check the eligibility, gold purity and interest rate calculation for the desired tenure. Once the loan application gets approved the gold loan amount immediately given to the farmers.
Yes it is absolutely safe as IIFL Finance keeps your prized possessions in safe vaults and is also insured.
Yes, agri gold loan can be closed anytime subject to clearance of all dues, including interest, principal and any other applicable charges. After the loan is closed the gold pledged is returned to the customer. IIFL Finance has zero foreclosure charges
It is extremely simple. All you have to do is provide the weight of the gold you need to pledge. It could be either in grams or kilograms. The gold loan calculator on the IIFL Finance website will calculate it within seconds and tell you the loan amount that you can avail of.
You can repay through
- Mobile apps
- Directly visiting the branch and paying by cash
You can go through our website for any queries related to interest rate and eligibility, alternatively you can get in touch with customer staff by calling on 7039-050-000 for any types of gold loan queries
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