Interest Rate of Gold Loan in IIFL Bank is Starting from 9.96%

IIFL Gold Loan Interest Rate

IIFL gold loan interest rate is competitive affordable and vary between 9.96% and 27% p.a., according to the loan amount and borrower’s repayment frequency. Apart from the gold loan interest rate, borrowers have to pay MTM charges of Rs. 500 for valuing an asset to reflect its current market rate and processing fee, depending on the scheme availed.

Current IIFL Bank Gold Loan Interest Rate

IIFL gold loan rate today starts from 0.83% onward per month (from 9.96% to 27% p.a.), depending on the loan amount and repayment capacity of the borrower. There are various factors that may affect the current IIFL gold loan rate of interest, including the loan amount, benchmarking method, gold’s value, repayment frequency, borrower’s credit score and monthly income.

Compare IIFL Bank Gold Loan Interest from Other Lenders

Below is the comparison of the IIFL gold loan interest rate with the gold loan interest rates of other banks. You can check which is the best gold loan bank in India before applying for a gold loan:

Bank	Rate of Interest (p.a.)	Loan Amount	Processing Fee	Tenure
IIFL Finance Gold Loan	9.96% - 27%	Up to 75% of the gold’s market value	Rs. 0 onwards	Up to 2 years
Indian Bank Gold Loan	7% - 10.15% p.a.	No upper limit	Nil	Up to 35 months
UCO Bank Gold Loan	7.40% - 7.90% p.a.	No upper limit	Up to 0.20%	Decided by the bank
PNB Gold Loan	8.65% p.a.	Rs. 25 000 to Rs. 25 Lakhs	0.30% or Rs. 500 + GST, whichever is higher	Up to 12 months
Bank of Baroda Gold Loan	9.20% - 9.30%	Up to Rs. 25 Lakhs	Up to 0.50% + GST	1 year - 3 years
Canara Bank Gold Loan	13% onwards	Rs. 5,000 - Rs. 35 Lakhs	1%	6 months - 1 year
HDFC Bank Gold Loan	7.60% - 16.81%	Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)	1%	3 months - 2 years
SBI Gold Loan	8%	Rs. 20,000 - Rs. 50 Lakhs	Nil till 31.01.2023	Up to 3 years
ICICI Bank Gold Loan	10% - 17.95%	Rs. 50,000 - Rs. 1 Crore	1%	6 months - 1 year
Kotak Mahindra Bank Gold Loan	8% - 17%	Rs. 20,000 - Rs. 1.5 Crores	Up to 2% + GST	Up to 4 years
Axis Bank Gold Loan	17% - 19%	Rs. 25,001 - Rs. 25 Lakhs	Up to 0.50%	6 months - 3 years

Features of IIFL Bank Gold Loan

The key features of IIFL Bank gold loan are mentioned below:

Loan amount: You can avail of a maximum loan amount of up to 75% of the market value of your gold to be pledged, depending on the quality of the gold.
Tenure: The maximum repayment tenure of IIFL gold loans is 24 months.
Rate of interest: IIFL gold loan interest rate starts from just 0.83% onward per month. The rate varies between 9.96% and 27% p.a. according to the loan amount and repayment frequency.
Processing fees: The processing fee for IIFL gold loan starts from Rs. 0 onwards, depending on the scheme availed.
MTM charges: The borrower is also required to pay MTM charges of Rs. 500 for the evaluation of an asset to reflect its current market rate.
Eligibility: As per the IIFL gold loan eligibility criteria, the applicant must be a salaried employee/ businessman/ businesswoman/ trader/ farmer/ self-employed professional, aged between the age of 21 to 70 years.

Types of Gold Loan in IIFL Bank

IIFL offers the following types of gold loan schemes:

1. IIFL Gold Loan:

This loan can be availed of by a salaried employee/ businessman/ businesswoman/ trader/ farmer/ self-employed professional aged between the age of 21 to 70 years.

Key Features:

Loan amount offered is up to 75% of the market value of your gold to be pledged, depending on the quality of the gold.
Tenure of repayment can be up to a maximum of 24 months.
Rate of interest varies between 9.96% and 27% p.a. according to the loan amount and repayment frequency.
Processing fees start from Rs. 0 onwards, depending on the scheme availed.
MTM charges of Rs. 500 for the evaluation of an asset are charged.

2. Digital Gold Loan:

This is an online gold loan scheme for catering to all your emergency expenses.

Key Features:

Get a gold loan anytime and anywhere in a completely digital process.
You can also avail of a top-up on an existing gold loan.
Online renewal of loan is possible.
Get free insurance cover for your gold.
Easy paperless documentation from a mobile device, instant approval, and convenient 24X7 online repayment.
Just add a bank account online for receiving money and payment of outstanding dues.
Free safe custody of your valuable gold.
No hidden charges involved.

IIFL Bank Gold Loan Calculator

You can use the IIFL Finance gold loan calculator to calculate your gold loan amount eligibility. Just follow the following simple steps:

Open the IIFL gold loan calculator available on the official website of IIFL Finance.
Enter the gold amount in grams (gm) or kilogram (kg) in the left box.
On the right-hand side box, you will see the loan amount that you can avail of from IIFL Finance against your gold.
The gold loan is calculated based on your pledged gold’s quality and its market value in the domestic physical market.

IIFL Bank Gold Loan Fee & Charges

Apart from an IIFL gold loan rate of interest of anywhere between 9.96% to 27% p.a., you will be required to pay the following charges:

Processing fee: The processing charges vary depending on the availed gold loan scheme and start from just Rs. 0 onwards.
MTM charges: You will also be required to pay flat Rs. 500 MTM charges on IIFL gold loan, which is the lowest in the industry.

How to Apply for Gold Loan in IIFL Bank?

Walk into one of IIFL’s 2500+ gold loan branches with the complete set of documents required for gold loan. You can locate the nearest branch ‌here https://www.iifl.com/finance/locate-us/gold-loan.
You can also book a doorstep appointment for an IIFL gold loan.
You will be required to submit the following documents along with the application form to avail of a gold loan from IIFL:
Identity proof:
- Aadhaar Card
- Valid Passport
- Valid Driving Licence
- PAN Card
- Voter ID Card
- Job card issued by NREGA
Address proof:
- Aadhaar Card
- Valid Passport
- Voter ID Card
- Electricity Bill
- Ration Card
- Valid Driving Licence
- Job card issued by NREGA

TheMoneyShow with Mr Raj Khosla: RBI’s Supervision of Coop Banks & Gold Loans After Price Rally

Mubina Kapasi of ET Now welcomes Mr Raj Khosla, Founder & Managing Director, MyMone...

27 Jul 2023 // 4 min read

IIFL Gold Loan Interest Rate FAQs

How does a gold loan work in IIFL?

IIFL evaluates the gold items provided by you and offers the loan amount based on a certain predefined percentage of the gold’s total value based on the current market value. Then it charges interest on the sanctioned loan amount and keeps the gold articles safe until the full repayment of the borrowed amount.

How do I check my interest on my IIFL gold loan?

You can visit the nearest IIFL Finance branch or call the customer care team at 1860-267-3000 or 7039-050-000 from 9:30 AM to 6 PM (except Saturday, Sunday and Public Holidays_.

What is gold loan process?

After IIFL evaluates your gold, you will be offered a loan amount. On your approval and confirmation, you will receive the loan amount in your account. The amount must be paid in equal monthly instalments along with interest.

Is IIFL a good company?

Yes. IIFL Finance is one of India's quickest disbursers of gold loans. It offers loans up to 75% of the market value of your gold with a flexible repayment tenure. The lender offers popular customised schemes to every customer depending on their financial needs.

How much loan can I get for 1g gold?

IIFL gold loan per gram rate is Rs. 3,504 per gram. If you have 100 grams of gold, the offered loan amount will be Rs. 3,50,400. The value differs depending on the gold rate, quantity,, and value.

Is IIFL Gold Loan Safe?

Yes. Getting a gold loan from IIFL Finance is safe. IIFL safely stores your gold items in the well-maintained locker so you do not have to worry about their safety.

How do I repay my gold loan?

You can repay your IIFL gold loan through its new IIFL Loans Mobile app or by visiting your IIFL Gold Loan branch to pay your interest or principal amount instantly by cash.

When should you apply for a gold loan?

A gold loan can be applied when you are seeking immediate funds to cater to any personal financial requirement, such as a marriage, education, travel, medical emergency, function, etc.

Do we need EMI for a gold loan?

Repaying your gold loan in EMI is a convenient and affordable option to service your loan.

What are the closure charges?

There are no closure charges for the IIFL gold loan. You can prepay your IIFL gold loan whenever you wish to without any additional charges.

What is the quality range accepted by IIFL bank to give gold loan?

IIFL concepts gold articles in the range of 18 to 24 carats for gold loans.

What are the minimum and maximum tenure of gold loan in IIFL bank?

The gold loan repayment tenure at IIFL is up to 2 years. The tenure varies depending on the loan amount and other factors.

Axis Bank Credit Card

Axis Bank MY ZONE Credit Card

Axis Bank SELECT Credit Card

IndianOil Axis Bank Credit Card

Axis Bank Magnus Credit Card

Flipkart Axis Bank Credit Card

Axis Bank Vistara Credit Card

Axis Bank Rewards Credit Card

Axis Bank Vistara Infinite Credit Card

Axis Bank Neo Credit Card

Samsung Axis Bank Signature Credit Card

Axis Bank Aura Credit Card

Axis Bank Kwik Rupay Credit Card

Axis Bank Vistara Signature Credit Card

Axis Bank Privilege Credit Card

Samsung Axis Bank Infinite Credit Card

Axis Bank Reserve Credit Card

Axis Bank Airtel Credit Card

Axis Bank Insta Easy Credit Card

Axis Bank Freecharge Credit Card

Axis Bank Forex Card

Axis Bank Rupay Credit Card

Axis Bank Burgundy Private Credit Card

Axis Bank Credit Card Interest Rates

Axis Bank Credit Card Pin Generation

Axis Bank Credit Card Offers

Axis Bank Credit Card Types

HDFC Credit Card

HDFC Freedom Credit Card

HDFC Indian Oil Credit Card

HDFC MoneyBack Credit Card

HDFC Infinia Credit Card

HDFC Diners Club Black Credit Card

HDFC Swiggy Credit Card

HDFC Regalia Credit Card

HDFC Millennia Credit Card

HDFC Business MoneyBack Credit Card

HDFC Regalia Gold Credit Card

HDFC Regalia First Credit Card

HDFC UPI Rupay Credit Card

Paytm HDFC Bank Credit Card

HDFC MoneyBack+ Credit Card

Tata Neu Plus HDFC Bank Credit Card

Shoppers Stop HDFC Bank Credit Card

Flipkart Wholesale HDFC Bank Credit Card

6E Rewards IndiGo Credit Card

HDFC Times Platinum Credit Card

HDFC Bank Corporate Platinum Credit Card

HDFC Rupay Credit Cards

HDFC Forex Cards

HDFC Virtual Credit Card

Best HDFC Credit Cards

SBI Credit Card

SBI Prime Credit Card

SBI Simply Click Credit Card

SBI Elite Credit Card

SBI IRCTC Platinum Credit Card

SBI Simply Save Credit Card

SBI Pulse Credit Card

SBI Cashback Credit Card

IDFC First Bank Credit Card

IDFC Millennia Credit Card

IDFC Classic Credit Card

IDFC Wealth Credit Card

IDFC Wow Credit Card

IDFC Select Credit Card

AU Bank Credit Card

AU Bank Zenith Credit Card

AU Bank Vetta Credit Card

Au Bank Altura Plus Credit Card

AU Bank Altura Credit Card

AU Bank LIT Credit Card

AU Bank Credit Card Eligibility

AU Bank Credit Card Customer Care Number

AU Bank Credit Card Net Banking

AU Bank Credit Card Eligibility

AU Bank Credit Card Bill Payment

American Express Credit Card

Amex Membership Rewards Credit Card

Amex Platinum Reserve Credit Card