INSUBCONTINENT EXCLUSIVE:
IIFL Gold Loan offers longer tenure which extends up to 24 monthsLeading non-banking financial company (NBFC) - IIFL Finance, has launched
gold loan products with interest rates starting from 0.54 per cent - one of the lowest interest rate offered by a gold loan NBFC
The scheme is available in more than 2,200 branches of IIFL Finance, according to a recent statement shared by the company.Gold Loan is a
secured financial product where gold jewellery is taken as collateral
During the valuation of gold, the market value is calculated according to the per gram market rate on the day of the loan application
Only the gold parts are used to calculate the value
The other metals, stones and gems are excluded from the calculations.IIFL Gold Loan offers longer tenure which extends up to 24 months,
allowing customers to manage cash flow better
In addition, it offers flexible interest repayment - monthly, bimonthly, quarterly and half-yearly options - to customers based on their
requirements.A customer can walk into IIFL Finance branch and receive the loan within a period of 30 minutes
The company offers five days of grace period for interest repayments, which is a novelty in this segment."IIFL Finance has a loyal customer
base with over 70 per cent customers choosing to do business with us again
Our customers include farmers and small entrepreneurs, who have used gold loans to meet their capital needs
They appreciate our lower interest rates, longer tenure, grace period and easy digital repayment options,'' said Mr
Saurabh Kumar, Business Head - Gold Loans, IIFL Finance.Shares of IIFL Finance were last trading 0.56 per cent higher at Rs 286.75 apiece on
Shares of IIFL Finance opened on the BSE at Rs 287, registering an intra day high of Rs 290.20 and an intra day low of Rs 279.90 in the
