Gold Loan for Education
In the relentless pursuit of knowledge and academic excellence, the financial aspect often emerges as a formidable challenge. However, there exists a beacon of financial assistance that can illuminate the path to education gold loan. These loans harness the inherent value of gold, allowing individuals to convert their precious assets into a gateway for educational pursuits. Whether it's funding tuition fees, purchasing study materials, or managing other educational expenses, gold loans for education provide a flexible and accessible solution. The intrinsic value of gold can be leveraged to secure a loan, ensuring that aspiring minds can tread the corridors of education without being shackled by financial constraints.
IIFL Finance is committed to empowering individuals on their educational journey through their specialized education gold loan schemes. By bridging the financial gap, IIFL Finance stands as a beacon, ensuring that nothing stands in the way of ambitious minds striving to build a successful career through education.
Gold Loan Interest Rate For Education
IIFL Finance gold loan interest rates for education that ensure competitive rates aligning with customer needs for educational purposes
- 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 Gold Loan For Education
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
Gold Loan For Education 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 Education Gold Loan from IIFL Finance?
IIFL Finance is a leading finance and investment service provider, offering a diverse array of customized financial products and services, including gold loans for student education. Renowned as a Gold Loan financing company in India, our extensive network spans over 2,600 branches PAN India. Applying for a gold loan for higher education is a breeze - whether through our user-friendly online platform or by visiting the nearest gold loan branch. Spanning across 30+ select cities, our gold loan at home service further adds to the convenience, making the entire education gold loan procedure swift and customer-centric. As for education gold loan eligibility, all we ask is that your gold’s purity should be within 18 to 22 carats, age between 18 and 70 years. Also you should have a regular source of income.
Guided by our "Seedhi Baat" or straight talk approach, we uphold complete transparency in revealing Education Gold Loan interest rates, processing charges, and other terms specified in the loan agreement. Additionally, the gold jewellery pledged by our customers finds secure refuge in insured vaults, ensuring utmost safety. When you seek an Education Gold Loan nearby, consider IIFL Finance as your trustworthy companion. We take pride in delivering the best Education Gold Loan online services in India, seamlessly empowering aspiring minds to pursue their educational dreams without any unnecessary hassle.
IIFL Finance offers distinctive features specifically crafted for gold loans catering to educational needs:
- Fast disbursal ensures quick financial assistance and disbursal against pledged gold jewellery, minimizing waiting periods after submitting application
- High loan amount by obtaining the maximum highest amount for pledged gold jewellery and ornaments, facilitating enhanced financial support for educational pursuits.
- Safe storage and credible insurance guarantee the safety of valuable assets, providing assurance and peace of mind for students and their families.
- No hidden costs - We have transparent fee structure with every fee is clearly communicated during the application process, ensuring financial transparency.
- Specialised gold loan schemes designed to cater to the unique requirements of individual borrowers pursuing gold loan for education, addressing diverse capital needs.
What is Education Gold Loan?
An Education Gold Loan in India is a type of loan specially designed for individuals who are in need of funding their educational pursuits. This loan allows the borrower to use their gold assets as a guarantee for the loan. The lender then approves the loan amount based on the value of the gold that is given as security. The borrower, usually a student or their family, can use the money for different educational expenses, such as tuition fees, accommodation, books, and other related costs. This loan is beneficial because it lets individuals use the value of their gold without having to sell them. It provides a flexible and efficient way to bridge the financial gap and ensure that education remains an attainable goal.
If you’re wondering how to get an education gold loan, look no further. IIFL Finance, through its specialized Education Gold Loan, exemplifies this concept by offering a dedicated financial tool to support the educational aspirations of individuals, making the pursuit of knowledge a more accessible and achievable endeavour.
Eligibility Criteria For Gold Loan For Education
The eligibility conditions of gold loan For Education from IIFL Finance include:
-
An individual age must be between 18 to 70 years
-
An individual must be a salaried, trader, farmer, businessman or self-employed professional.
-
The gold kept as security should have a purity of 18-22 Carat
-
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 Gold Loan For Education
A gold loan borrower must submit a few documents as part of the Reserve Bank of India’s Know Your Customer (KYC) norms. Here is the list of documents:
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 Education FAQs
A gold loan for education provides quick and flexible financial support by leveraging your gold assets to fund educational expenses such as tuition fees, buying books and other study materials, accommodation if staying in a hostel among other things.
Benefits include quick disbursal, flexibility, high loan amounts based on gold value, secure storage, and transparent fee structures tailored for educational needs.
The maximum tenure in the case of an education gold loan upto 24 months
Yes, gold loan can be closed at any point of time by clearance of all dues, including interest, principal and any other applicable charges. The gold mortgaged or pledged is returned to the customer once the loan is closed.
You can do gold loan repayment via various mobile apps, and if you prefer the offline option, you can visit your nearest IIFL Finance branch and pay in person.
The eligibility criteria for gold loan are as follows:
• A person must be salaried employee/businessman/businesswoman/trader/farmer or self-employed professionals.
• A person age between 18 to 70 years.
This is a service that allows you to borrow money for your education purposes by using your gold assets as collateral. It offers a fast and convenient way to finance your studies.
Using the IIFL Finance education gold loan calculator in India is a cakewalk. All you have to do is enter the weight of gold in grams/kilograms, and within seconds, you will come to know the moan amount that you are eligible. The calculator considers that particular day’s gold value and does the calculation.
The gold loan interest rate for education, typically vary between 11.88% and 27% per annum.
The maximum repayment period available for these loans up to 24 months.
Yes, currently we offer this service at 30+ cities in India. Check the gold loan at home page on how to apply and cities from where you can avail doorstep gold loan
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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