IIFL Gold Loan Interest Rates

IIFL Gold Loan Interest Rate
Interest Rate 9.24% to 24% per annum
Processing Fee None to depending on the loan amount
Tenure of the Loan 3 months - 11 months
Loan Amount
  • Minimum Rs. 3,000
  • Up to 75% of the pledged gold’s market value
Foreclosure Charges
  • No charges after 3 months
  • Within 3 months – Rs. 0 to Rs. 150 depending on the loan amount
Mark-to-Market (MTM) Charges Rs. 500

IIFL Gold Loan Interest Rate starts from 9.24%. It can go up to 24% per annum. You can take the loan for personal expenses or any other purpose, other than a speculative one. The IIFL gold loan rate depends on the pledged asset’s purity, net weight, tenure, loan amount, and other factors. You can avail of quick repayment facilities online, at the branch, or on the mobile app. Also, you can choose a partial release of the jewellery on prepayment.

In this post, we will discuss IIFL Gold Loan Interest Rate features, interest calculation, foreclosure, part-payment, repayment, documents required, and frequently asked questions.

Features of IIFL Gold Loan Interest Rate

Here is more information:

  • The IIFL Gold Loan Interest Rate is between 9.24% and 24% per annum.
  • The NFBC accepts gold jewellery of purity over 18 Karats.
  • Loan approval in 5 minutes and disbursal in 30 minutes is possible.
  • Anyone (salaried, self-employed professional, businessman, housewife, pensioner, students, etc) over 18 years of age, can apply for the loan.
  • The gold’s market value is calculated as per the per gram rate on the day you apply for the funds.
  • To determine the loan amount, tenure, as well as the rate of interest – the gold’s net weight and purity are considered, along with the Loan to Value Ratio (up to 75%).
  • Other stones, gems, metals, etc in the jewellery are excluded from the calculations.

IIFL Gold Loan Interest Calculation

The lowest applicable rate of interest for the jewel loan is 9.24%. 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 IIFL Gold Loan amount you can get depends on the jewellery you pledge with the institution. The value is determined by the purity level of gold on a 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, or up to 75% of the asset’s market value.

Maintaining Relationships

Existing customers can apply for special offers if they have maintained a healthy relationship with the bank in the past. Thus, maintaining a good relationship with the NBFC may benefit you with lower interest rates on the loans.


Longer tenure loans attract lower interest rates and vice-versa. You can avail of gold loans for tenure between 3 months to 11 months.

Loan to Value Ratio (LTV)

The loan depends on the pledged gold. The LTV is up to 75%. IIFL also provides loans with low LTVs. The IIFL Gold loan interest rates are lower in this case.

Purpose of the Loan

The NBFC provides loans at a concessional interest rate and 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% lesser than standard rates.

IIFL Gold Loan Foreclosure and Part-payment

Here are the details for foreclosure and part-payment of gold loan IIFL:

  • Foreclosure: You can foreclose the loan account after successfully repaying the entire loan amount before the tenure ends. Then, you can apply for the release of pledged gold at the branch. A foreclosure fee will apply depending on the loan amount. The charge is from Rs. 0 to Rs. 150 for foreclosure before 3 months. No charges apply after 3 months
  • Part-payment: You can choose to partly pay a portion of the total loan amount before the tenure. This helps to save on the interest pay-out by reducing the principal outstanding. Also, this can benefit you with the partial release of the collateral.

IIFL Gold Loan Repayment

The NBFC allows a quick repayment facility along with loan sanction and disbursal. Here are the options for how you can repay your loan:

Pay at a Branch

Visit the nearest IIFL gold loan branch to repay the principal and interest amount. You can also visit the branch from where you got the funds. The payment is instant. A branch executive will help you with the steps to payment.

Pay Online

You can repay the gold loan anytime and from anywhere. The online payment system is safe, easy, convenient. Also, the transactions are secured for everyone.

Payment Through the App

You can download the IIFL Loans Mobile app. This app is for both Apple and Android phones. This gives you ready access to your loan account with a click. You can go through the account summary, access the interest certificate and complete statement, enter a query, repay the loan, and more.

Documents to Apply for an IIFL Gold Loan

The NBFC requires minimum documentation for a loan against gold. All you have to do is submit your address and identity proof. It takes about 5 minutes to verify the documents at the branch. If you have an Aadhaar number, then the e-KYC procedure is done at the branch on tablets. No other document is then required for the loan sanction.

Submit e-KYC

The branch executive will verify your Aadhaar Number on UIDAI through fingerprint scanning or OTP. This completes the KYC online procedure. After authentication of Aadhaar, you do not have to submit other documents after this process. Your loan application also is pre-filled if you submit the Aadhaar details. This ensures faster processing of the loan.

Physical Documents

You can also submit a physical KYC. As identity proof, IIFL can accept PAN Card/Passport/Aadhaar Card/Voter’s ID Card/Driving Licence/Job Card issued by NREGA, etc. As an address proof, the institution will accept a Passport/ Job Card issued by NREGA/Driving Licence/Aadhaar Card/Voter’s ID Card, etc.

Apply for Gold Loan

FAQs about IIFL Gold Loan

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

Yes, you can prepay the loan. No prepayment charges shall apply.

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

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