IIFL Finance, non-banking financial companies (NBFC), has launched gold loan products with interest rates starting from 0.54 percent. The scheme is available in more than 2200 branches of IIFL Finance.
Key highlights
IIFL Gold Loan offers longer tenure which extends up to 24 months, allowing customers to manage cash flow better, it said in a press release. 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 30 minutes. The company offers 5 days of grace period for interest repayments, which is a novelty in this segment.
Saurabh Kumar, Business Head - Gold Loans, IIFL Finance said: “Our customers include farmers and small entrepreneurs, who have used gold loans to meet their capital needs.”
IIFL Finance has launched #SeedhiBaat, a campaign in association with star cricketer Rohit Sharma.
IIFL Finance caters to over 60 lakh customers with Home loan, Gold loan, Business loan and Microfinance products.
