Check the features, how to apply, the benefits of the loan here
IIFL Finance has launched a gold lending product with interest rates starting at 0.79% – a program that will be available nationwide to clients of all of its branches, according to a recent statement shared by the company. . The gold loan offered by IIFL Finance offers a longer term of up to 24 months, allowing clients to better manage their cash flow.
Through its gold lending product, the country’s leading non-bank finance company also offers flexible interest repayment options to clients based on their needs, including monthly, bi-monthly, quarterly and semi-annual options.
In order to qualify for the IIFL Gold Loan, clients can come to the IIFL Finance branch with the gold / ornaments they are looking to pledge and receive the loan within 30 minutes. IIFL Finance offers a grace period of 5 to 7 days for repayment of interest.
The non-bank finance company has launched the DigiGold loan facility, where customers can benefit from interest payment and top-up options online, without having to visit the branch, according to its statement. The digital installation is also assuming its relevance amid the COVID-19 pandemic.
“During the pandemic, farmers and small entrepreneurs used gold loans to meet their capital needs, aided by our low interest rate, longer tenure, longer grace period, and our easy digital redemption options. The fact that over 70 percent of our clients come back to us for business is a testament to our honest and transparent relationships, ” said Mr. Saurabh Kumar, Business Manager – Gold Loans, IIFL Finance.
On Wednesday August 11, shares of IIFL Finance rose 2.56 percent to 298.30 rupees each on BSE.