IIFL Finance offers gold loan at lowest rate of 0.54% per month
By Leandra Monteiro
IIFL Finance, one of India’s leading non-banking financial companies (NBFC) has launched gold loan products with interest rates starting from 0.54%, which is one of the lowest interest rates offered by a gold loan NBFC. The scheme is available in more than 2200 branches of the company.
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 any of its 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, “IIFL Finance has a loyal customer base with over 70% 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.”
IIFL Finance believes in honest and transparent dealing or #SeedhiBaat and has launched a campaign around the same 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. It has widened its pan India reach through an extensive network of over 2,200 branches across 600+ locations. It continues to expand its footprints in tier 2 – tier 5 cities with aim to fulfil credit needs of underserved and unbanked customers.
IBSi Daily News Analysis
November 29, 2023
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