Gold Loan In Bangalore
Bangalore is famous as the Silicon Valley of India today and the aviation capital of the country where Boeing, Airbus, GE Aviation and other aerospace giants have their research and development centres. With its thriving entrepreneurial spirit, Bangalore is ranked 15th on the world’s hottest startup ecosystems!
Any city with this economic backdrop is always in need of financial back-up to keep it buzzing. This is where a gold loan in Bangalore could come in extremely handy. It is a convenient way to raise quick finance for a range of purposes - personal or commercial.
We at IIFL take pride in being one of those NBFCs offering gold loans in Bangalore to those who need it.
Features and Benefits of Gold Loan In Bangalore
The gold loan in Bangalore offers several attractive features and benefits. The process of application, scrutiny and approval is quick, smooth and seamless. The most attractive feature of the gold loan is that there is no ceiling on the gold loan. The Loan amount is dependent on the value of the gold deposited as collateral.
Here are some of the features of the gold loan Bangalore:
How To Apply For A Gold Loan in Bangalore
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 gold loan 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 Bangalore
The eligibility criteria of gold loan in Bangalore has been set such that the chances of the borrower repaying the loan and recovering the gold are maximised and the chances of the gold being auctioned due to default are minimised. IIFL Finance only offers gold loans to Indian Nationals who fulfil the following criteria
Check for IIFL Finance gold loan eligibility criteria :
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A person’s age must be between 18 - 70 years
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Have a valid Identity and address proof
Documents Required For Gold Loan in Bangalore
The gold loan offered by IIFL could be considered the best gold loan in Bangalore because of the minimal paperwork. You need to submit the following gold loan document only:
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
Gold Loan at Home in Bangalore
Like several other Gold Loan companies in Bangalore, both banks and NBFCs, IIFL Finance offers you the convenience of an online gold loan. You can avail a gold loan at home while sitting at home in Bangalore, with all the formalities taken care of without having to step out of the house.
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:
You have to visit our website and apply for the Gold Loan at Home service
The lender’s representative will visit your home and evaluate the gold before you for purity, weight and value to determine the loan amount that can be offered.
Simple Process in-house Gold Valuation
Once your KYC documents are verified, the loan application will be approved and the amount will be disbursed into your account.
As the process of gold doorstep loan application is online, it becomes doubly convenient for busy Bangaloreans, who spend hours in traffic to apply. You can apply on the go!
Why Choose IIFL Gold Loan in Bangalore
A loan against Gold in Bangalore is an efficient way to raise emergency funds. IIFL Finance is one of the leading gold loan service provider in Bangalore. We have designed our gold loan products to be distinctive and ensure they come with attractive and affordable gold loan interest rate. You should choose to take a gold loan Bangalore from IIFL Finance because of the following reasons:
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High Loan to Value Ratio: IIFL offers up to 75% of the value of the weight of the gold deposited
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Flexible EMIs: Repay as per your convenience. Pay through regular EMIs or pay the entire principal and interest at the end of the loan tenure
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Gold Safety: IIFL secures the gold deposited in secure vaults with high-level security, backed by insurance
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Transparency: IIFL follows a transparent policy regarding interest rate and gold valuation
Uses of Loan against Gold in Bangalore
If you opt for a gold loan in Bangalore, you can use it for any purpose you choose – a medical emergency, to start a new business venture, to renovate your home or even help make the down payment to your new home. You can also use it to fund a vacation or a wedding. IIFL only expects that you plan the loan responsibly so that you can repay the loan within the agreed tenure and recover possession of your gold.
Why is Gold Loan the Most Feasible Borrowing Mode in Bangalore?
Since the gold loan in Bangalore is a secured loan, interest rates are lower than unsecured loans like personal loans. In addition, there is no maximum limit to the loan you can avail. The loan amount will depend on the weight of the gold deposited, the purity of gold and the prevailing price of gold in the market. Before availing for gold loan, you check gold rate in bangalore today with IIFL Finance. With a loan to value ratio of up to 75% offered by us, the gold loan in Bangalore is the most feasible borrowing mode in Bangalore.
IIFL Finance
Gold Loan in Bangalore FAQs
In order to get a gold loan online in Bangalore, you have to click on “apply now” button, fill in the details requested on form and submit it to us. An official of IIFL Finance will contact you to guide you through the next steps and arrange for a valuation and collection of the gold you wish to pledge. Once the formalities are completed, the loan against the gold will be transferred to your account within minutes.
The interest rate on gold loans in Bangalore depends on the loan amount and the repayment frequency. As of June 2023, interest rates on loans against gold in Bangalore ranged between 11.88% p.a. to 27% p.a.
No, you do not require a CIBIL score to qualify for a gold loan in Bangalore.
To use the gold loan calculator, all you need to do is enter the weight of gold that you wish to pledge on the gold loan calculator available on the IIFL website. IIFL calculates the value of your loan assuming that the gold is of 22 carat purity. If the purity is less than 22K, the loan amount will be proportionately less as well.
For gold loan repayment we have payment options available like through Physical Branches, Quickpay, Bank transfer or UPI apps.
You can go through our website for any queries on low-interest gold loans. Alternatively, you can get in touch with our customer service staff by calling on 7039-050-000 for any type of queries on gold loan finance.
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