Gold Loan In Amritsar
Amritsar in Punjab is a popular tourist attraction owing to the Golden Temple. This makes tourism one of the chief sources of livelihood, besides traditional textiles & footwear, agriculture and trading activities that are other thriving businesses. Also, transport, manufacturing and hosiery are other growing businesses in Amritsar.
With a sound industrial and commercial base, Amritsar supports the livelihoods of many local and migrant populations. With multiple sources of income, citizens in Amritsar can consider giving themselves a comfortable life, and to meet this requirement, IIFL Finance offers a Gold Loan in Amritsar. The gold loan is customised, requires no credit score, offers the highest LTV of 75% and maintains transparency throughout its application process without the involvement of any loan agents in Amritsar.
Features and Benefits of Gold Loan In Amritsar
Expanding its reach to other cities in India, IIFL Finance now brings the IIFL Finance gold loan to Amritsar as a convenient and quick option to raise funds. Simply by pledging gold jewellery, citizens can obtain cash even in an emergency. Some of the factors that make the gold loan in Amritsar a preferred choice are:
How To Apply For A Gold Loan in Amritsar
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 ensures that you get the loan amount
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.*
Eligibility Criteria to Apply For Gold Loans in Amritsar
IIFL Finance offers a gold loan in Amritsar to creditworthy borrowers who can repay. To ensure the same, IIFL Finance has put in place specific gold loan eligibility criteria. These criteria are as follows:
-
A person’s age must be between 18 - 70 years
-
Have a valid Identity and address proof
Documents Required For Gold Loan in Amritsar
IIFL Finance offers one of the best gold loans in Amritsar to applicants who can provide the following gold loan documents:
Accepted Identity Proof
- Aadhaar Card
- Valid Passport
- PAN Card
- Valid Driving Licence
- Voter ID Card
Accepted Address Proof
- Aadhaar Card
- Valid Passport
- Electricity Bill
- Bank statement
- Valid Driving Licence
- Voter ID Card
Why Choose IIFL Gold Loan in Amritsar
Some reasons that make the gold loan from IIFL Finance one of the best gold loans in Amritsar are that it is a customised gold loan, requires no credit score and has no end-use restrictions. Some of the other reasons that make it a go-to financial product are:
Highest Loan-to-Value: IIFL Finance offers one of the best gold loans in Amritsar, with the highest LTV of 75%. This is the maximum permissible LTV among lenders in the segment.
Flexible EMIs: IIFL Finance allows customers to repay through convenient EMIs or as a single payment, thus making their gold loan repayment quicker and less burdensome.
Gold Safety: By monitoring the pledged gold in safety vaults 24*7 and providing an insurance cover, IIFL Finance safeguards the collateral gold jewellery for additional safety.
Transparency: IIFL Finance follows a transparent process right from specifying the eligibility criteria to documentation and the rates and fees it charges, thus making it a popular financial product among citizens in Amritsar.
Why is Gold Loan the Most Feasible Borrowing Mode in Amritsar?
Besides several traditional manufacturing and agricultural activities that flourish in Amritsar, the district is also a popular tourist destination and a well-known education hub.
With IIFL Finance gold loan, the citizens can avail of one of the lowest gold loan interest rates on a customised gold loan that requires no credit score, involves minimal paperwork, ensures transparency and allows the flexibility to use the loan proceeds for any legal use. The applicant can expect to get the highest loan value and also opt for a single repayment method or convenient EMIs.
Overall, the IIFL Finance Gold Loan in Amritsar is a quick way to fulfill your dreams.
Uses of Loan against Gold in Amritsar
IIFL Finance’s gold loan in Amritsar offers attractive benefits and has many features that make it a popular financial instrument to raise funds. Among its other unique features is the flexibility from IIFL Finance to use the funds for any of the following purposes:
IIFL Finance
Gold Loan in Amritsar FAQs
An applicant opting for a gold loan from IIFL Finance enjoys benefits such as, no credit score requirement, transparency in the application process and interest rate, charges and fees levied and quick approval and disbursal. The lending company also offers the flexibility to use the loan amount for any legal purpose.
Citizens desiring to raise a gold loan from IIFL Finance must pledge gold jewellery only.
IIFL Finance charges 11.88% - 27% p.a on a gold loan. This effectively translates to 0.99% per month. However, it is subject to the loan amount and the repayment frequency of the gold loan.
Before considering an application for a gold loan, IIFL Finance ensures the applicant meets the following criteria.
The applicant is an Indian national in the age-group of 18 to 70 years;
The applicant is either salaried/an entrepreneur/self-employed/trader/farmer
The applicant can pledge gold jewellery with a purity of 18-22 carats.
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