IIFL Finance offers gold loan at lowest rate of 0.79%

IIFL Gold Loan offers longer tenure which extends up to 24 months, allowing borrowers to manage cash flow better.

IIFL Finance, a non-banking financial company, has launched gold loan products with interest rates starting from 0.79 per cent. The scheme is available pan India in all IIFL Finance branches.

IIFL Gold Loan offers longer tenure which extends up to 24 months, allowing borrowers to manage cash flow better. In addition, it offers flexible interest repayment – monthly, bimonthly, quarterly and half-yearly – options to borrowers based on their requirements.

It is an instant process where a customer can walk into the IIFL Finance branch with gold and receive the loan within 30 minutes. The company offers 5-7 days of grace period for interest repayments. The company says, IIFL Finance has launched the DigiGold Loan facility, where customers can avail interest payment and top-up options from the comforts of their home.

Saurabh Kumar, Business Head – Gold Loans, IIFL Finance says, “During the pandemic farmers and small entrepreneurs have used gold loans to meet their capital needs, helped by our low-interest rate, longer tenure, higher grace period and easy digital repayment options. The fact that over 70 per cent of our customers come back to us for business again is a testament to our honest and transparent dealings.”

IIFL Finance caters to over 60 lac customers with the Home loan, Gold loan, Business loan and Microfinance products.