IIFL Gold Loan Interest Rates

IIFL gold loan interest rates are suitable for any common man, as it is very affordable starting from 12%. The rates may go up to 24% p.a. These rates are applicable to both current and new borrowers. The jewel loan interest rate depends on the loan value, purity of gold and also the loan to value ratio. The Loanbaba.com provides all information about IIFL gold loan rate of interest.

IIFL Gold Loan and Interest Rate Details

Gold Loan


Interest Rate

12% onwards

Processing Fee


Tenure of the Loan

3 - 11 months

Loan Value

Rs. 3,000 to 10 lakhs

Prepayment Fee


Gold Loan Scheme

EMI Scheme

Features of IIFL Gold Loan

  • Why opt for the Gold loan? The gold loan will help meet your personal and business expenses.
  • The gold jewellery works as the security for your loan.
  • The bank accepts both gold jewellery and gold coins up to 50 grams. However, they should be at a purity level of 18 to 22 carat.
  • The applicant should be at least 18 years of age. He/she may be a salaried, self-employed professional, businessman, housewife, pensioner, students or anyone genuine.

How to Calculate the Market Value of the Gold jewellery and Determine Loan Amount?

The calculations of the market value of gold are made on the per gram basis. If you pledge your gold jewellery for the loan, instead of the entire jewellery, the weight of pure gold will be counted to calculate the market value. The stones and gems or any other precious material in the jewellery will not be counted to calculate the loan amount.  One can avail not more than 75% gold calculated as the market value.

Why Choose IIFL Gold loan?

IIFL has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfil their financial needs with loan against gold.

Interest Rate Calculator for IIFL Gold Loan

The lowest applicable rate of interest for the jewel loan is 12%. The interest rates depend on the loan value, purity of gold and loan to value ratio. The existing customers stand at an advantage of availing loans at lesser rates compared to regular users.

  • Loan Value

As mentioned above, the actual loan value you can avail depends on the jewellery you pledge with the bank. The value is determined by the purity level of gold on per gram basis. Higher loan values attract lower interest rates. The limits of loan one can avail are between Rs. 3,000 to Rs. 10 lakhs.

  • Maintaining Relationships

Existing customers can apply for special offers if they have maintained a healthy relationship with the bank in the past. Thus, maintaining relationships leads to attracting low interest rates when you need loans.

  • Tenure of the Loan

Low tenure loans attract high interest rates. You can avail gold loans for tenure between 3 months to 11 months. 

  • Loan to Value Ratio

The loan depends on the gold pledged. However, it is no more than 75%. IIFL also provides loans with low LTVs. The interest rates go low in this case. The ratio at max cannot cross 75% of the net gold weight.

  • Loan against Gold Purpose

The bank loans at concessional interest charges for agricultural use. This is because the agriculture sector is the highest priority sector in the industry. Thus, the agrarian loans are available at 1 – 2%.

Documentation Necessary for IIFL Gold Loan

  • Fully filled application form by the applicant
  • Applicant photographs
  • Identity Proof: Passport or Driving license or Voter’s ID card or Aadhaar card, etc.
  • Address Proof: Passport or Driving license or Voter’s ID card or Aadhaar card, etc.

FAQs about IIFL Gold Loan

Below given are few important questions regarding gold loan by IIFL.

  • addFAQs
    1. Can prepayment of loan be done? Does prepayment fee apply on the IIFL gold loan?
    2. Yes, you can prepay the loan. No prepayment charges shall apply.

    3. Is the loan available online? Any online payment facility?
    4. Yes, one can apply for the gold loan online. This fetches you a quick loan. IIFL also offers online payment facility to its borrowers.

    5. What is the maximum amount off gold loan one can avail at IIFL?

    One can opt not more than INR 10 Lakh as the gold loan.

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