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IIFL digital gold loan details and review

Tap into the value of your gold assets for emergency cash flow financing.

IIFL is one of the top lenders in India that allows borrowers to avail gold loans and leverage them effectively to fulfil urgent liquidity needs.

Find out how the IIFL gold loan works and the costs you’d need to consider before applying.

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9.24% p.a. - 24% p.a.

Interest Rate

₹3,000 to ₹10 lakh

Loan Amount

3 to 11 months

Loan Tenure


Product NameIIFL Gold loan
Loan Amount₹3,000 to ₹10 lakh
Required documentsAadhar Card, PAN Card, Valid Driving License, Valid Passport, Voter’s ID Card, Job Card issued by NREGA
Pay it throughOnline Payment, Payment from app, Payment at branch
EMI SchemeNo
Bullet Repayment SchemeYes
Overdraft SchemeNo
More Info

How does a gold loan from IIFL work?

IIFL offers the option of a gold loan, which is also known as a loan against gold. It is a secured loan whereby borrowers avail a loan amount by pledging gold as collateral. Gold that is eligible for security may be accepted in various forms, such as gold bars, ornaments or jewellery, as long as it has a purity of 18-karat and above.

The loan amount you’d be eligible for is based on the value of the gold, calculated according to the per gram market rate of gold on the day of the loan application. Do note that you’ll only be allowed to avail up to 75% of the gold’s market value.

Key features

  • Transparent loan process. Make informed choices with IIFL’s transparent lending process, without any hidden fees and terms to look out for.
  • Quick approval. Get your loan request approved in as fast as 5 minutes.
  • Fast loan disbursal. With a simplified loan application process and in-house gold valuation service, you can gain access to the cash within 30 minutes.
  • Flexible loan tenure. The minimum tenor starts from 3 months, up to a maximum of 11 months.
  • Small loan amounts. Loans starting from Rs.3,000, up to the valuation of your gold ornaments.
  • Convenient repayment modes. Make timely repayments from the IIFL online payment system, IIFL loans mobile app or the nearest IIFL loan branch.
  • Secure gold storage. Borrow with peace of mind as your collaterals are stored in a highly secure, fire and burglary proof vault. The pledged ornaments are also fully insured once they’re left in IIFL’s care.

How do repayments work for a IIFL gold loan?

You can repay a portion of the total loan amount, or just the interest through:

  • IIFL’s online customer portal; or
  • At any of the Pan-India IIFL-Gold Loan branches

Fees and limits

  • Interest rate. Enjoy competitive interest rates ranging from 9.24% to 24% p.a, depending on your loan amount and tenure.
  • Processing fee. Depending on the gold loan scheme availed, a nominal processing fee will be chargeable.
  • Closure charge. A nominal loan closure penalty ranging from Rs. 0 to Rs. 150 will be imposed if you close the loan in less than 3 months.
  • Mark-to-market (MTM) charges. An MTM fee of Rs. 500 will be payable upon loan approval.

The verdict

With a simplified loan request process, instant approvals and attractive interest rate, it is no wonder why IIFL is one of the most popular lenders for gold loans in India. It also has multiple storefronts located across India, making it easy for you to avail a loan with your gold jewellery/ornaments.

But unlike providers like indiagold and Rupeek, IIFL has yet to offer the convenience of on-the-spot evaluation of your gold assets at your location. This means that you’d still need to head down to the nearest Pan-India IIFL-Gold Loan branch with your jewellery and documentations in tow.

How to apply with IIFL

To avail of a gold loan from IIFL, simply visit any of its 900+ branches with your gold collateral (with purity over 18 karats) and required documentation (ID and address proof). The entire loan application process may be completed and approved within 5 minutes.

e-KYC process

If you have an Aadhar card, IIFL allows you to complete an eKYC process on their tablets through OTP or fingerprint scanning. Upon authentication, your loan application will be pre-filled with your Aadhar details and no other KYC document is required.

Required documents (for physical KYC)

Here is the list of documents (besides Aadhar card) that are acceptable as identity and residential proofs:

  • PAN card
  • Valid driver license
  • Valid passport
  • Voter’s ID card
  • NREGA-issued job card

Compare a range of Gold Loans in India

Name Product Interest Rate Processing Fee Loan Amount Loan Tenure
IIFL Gold loan
9.24% p.a. - 24% p.a.
₹ 0 onwards depending on scheme availed
₹3,000 to ₹10 lakh
3 to 11 months
Meet urgent liquidity needs in as fast as 30 minutes. Benefit from a range of flexible loan tenure, repayment options, and competitive interest rates.
Muthoot One Percent Loan
12% p.a. - 12% p.a.
0.25% to 1% of loan amount
₹1,500 to ₹2 lakh
7 days to 12 months
Enjoy the lowest interest rate with this 12-month gold loan scheme when you pay the interest in full every month.
SBI Personal Gold Loan
7.5% p.a. - 7.5% p.a.
0.50% of the loan amount + applicable GST
₹20,000 to ₹50 lakh
3 to 36 months
Pledge your gold ornaments and borrow up to ₹ 50 Lakhs for a maximum of 36 months. Only minimum paperwork required.
ICICI Bank Gold Loan
ICICI Bank Gold Loan
12% p.a. - 16% p.a.
0.25% to 1% as per the loan amount
₹10,000 to ₹10 lakh
6 to 12 months
Fulfill personal or business expense requirements instantly by pledging gold jewelry with at least 18-carat purity.

Compare up to 4 providers

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