1.

IMPORTANT OF GOLD LOAN :

IIFL GOLD LOAN :

Gold loan or loan against gold is the easiest and quickest way for servicing your financial needs.
To avail a gold loan, all you need to do is pledge your gold ornaments with us and we would
provide you with a loan amount as per the market value of your gold. Unlike other loans, gold
loan does not require you to provide any income or salary proof. Moreover, it has comparatively
lower interest rates; requires lesser documentation, and hence is processed in lesser time.
We at IIFL provide maximum loan against your gold at lowest interest rates. We have a strong
presence Pan-India and have serviced a large number of customers in a very short span. We offer
different types of schemes as per your requirement and convenience. Following are the main
features of our loans :Loan amount ranges from min Rs 5,000 to max Rs 10,00,000
Tenor of loan is 24 months
Loan can be paid back on a monthly or quarterly basis
Interest / Loan Amount due can be paid at any of our Gold Loan branches pan-India
Minimal amount of paperwork and documentation is required
Variety of schemes are available to chose from
Your Gold is insured and secured safely with us in fire and burglary proof vaults

HDFC GOLD LOAN :

Features
Unique triple layered protection for your assets in gold
Immediate gold loan sanction and disbursal
Hassle-free gold loan application and minimal documentation
Affordable to avail & repay
Easily available online and in branch offices
Benefits
Perfect choice for finance personal or business needs
Extremely beneficial secured loan interest rates
Comfortable customizable EMI and prepayment options available
Speedy gold loan processing for urgent cash crisis

Lower interest rates for preferred customers available

MUTHOOT FINANCE :
Gold Loan
The Muthoot Gold loan portfolio is the largest in India as well as all around the globe. It is
humbling to know that more than 80,000 people avail our trusted services on a daily basis.
For the past 128 years, the company has been serving the interests of customers as its top most
priority. Our journey through centuries coupled with the fact that we are still a rapidly growing
company highlights the trust and commitment that our customers worldwide have shown in us.
With Muthoot Finance Ltd. gold loan services, it takes no more than a few minutes for your gold
to generate cash. The simple procedure that we follow allows:
Quick Loan disbursal
Loan limit stretches from Rs. 1500 to Rs. 1 crore
Pre-payment option-without any penalty
Minimal documentation
In-house gold evaluation
Improves customer service in a shorter response time
Strong rooms for providing safe custody for gold ornaments
Being Indias largest gold loan service provider, safeguarding the deposits of gold ornaments is
our primary concern. A flexible interest rate policy is what helps us cope with volatile markets.
Our gold loan range starts from Rs. 1,500 and stretches up to Rs. 1 Crore. Serving over 80,000
customers daily, we assist almost every section of the society in obtaining quick cash for
leveraging their dreams.

2. DOCUMENTATION :
IIFL GOLD LOAN
A proof of identification in the form of Voters ID/PAN/Passport No./Driving license and a proof
of address would be required to avail a gold loan from us.

HDFC GOLD LOAN

Documents required

Identity Proof (Passport Copy/ Voters ID card/ PAN Card/ Aadhaar Card)
Address proof (Passport/ Electricity Bill/Telephone bill/ Aadhaar Card)
Signature proof ( Passport/ PAN Card/Bankers verification/ cheque)
MUTHOOT FINANCE
In order to receive funds against your gold ornaments with Muthoot Finance Ltd. you will have
to walk into any of our branches and inform the customer care executive of the same. The
executive will then have you fill out a KYC form and guide you through the rest of the process.

3. WHO IS ELIGIBLE :
IIFL GOLD LOAN
Any person salaried/non-salaried/self-employed/student of 21 years of Age or above having gold
of purity of 18 karat or above is eligible to avail a gold loan from us.

HDFC
MUTHOOT
Anyone, above the age of 18, can avail a loan against gold. All they need to provide are the gold
ornaments and the required documents.

4. WHAT KIND OF SECURITY FOR AVAILING GOLD LOAN :

IIFL
Any kind of jewellery/ornament made of gold of purity of 18 karat or above can be provided as
security to avail such loan.
hdfc
All gold to be brought to our designated/disbursement branch.We will value the gold and based
on that valuation you can choose from the various product offerings, depending on your loan
requirement.
Muthoot
The only security which is required from the customer in order for them to avail a gold loan from
Muthoot Finance Ltd. is the very gold they pledge with Muthoot Finance Ltd. itself. There is no
need for an external/third party guarantor for the same. The loan will be sanctioned against the
gold pledged.

5. What is the maximum loan amount that I can take?

IIFL
You can avail a maximum loan of up to 75% of the market value of your gold. Market value of
your gold is calculated according to the per gram market rate of gold on the day of loan
application.

HDFC
MUTHOOT

6. What is the tenor of these loans?

IIFL
Minimum tenor is three months while the maximum is twelve months.

HDFC
Gold Loan available for tenure starting from 6 months upto 24 months.

MUTHOOT
Slab Period/s

Rate of Interest

upto 1 month

14%

1 > 3 months

17%

3 > 6 months

21%

6 > 12 months

24%

above 12 months

26%

3 months

18%

6 months

22%

12 months

24%

above 12 months

26%

6 months

21%

12 months

24%

above 12 months

26%

3 months

22%

12 months

24%

above 12 months

26%

3 months

18%

6 months

21%

12 months

24%

above 12 months
1 month

26%(including penal interest@2%

p.a)
20%

3 months

22%

above 3 months

24%

above 12 months

26%

3 months

16%

12 months

18%

above 12 months

20%

1 month

12%

3 months

15%

6 months

20%

12 months

24%

above 12 months

26%

12 months

18%

12 to 36 months

11% flat (20% annualized)

* Applicable in selected bran

7. What is the processing fee involved to avail such a loan?

IIFL
No processing fee is involved in availing such a loan.

HDFC
Here is an exhaustive list of all the fees and charges to be paid for the loan:
Fees

Amount to be paid

Loan Processing Charges

Upto 0.5%.
Option of Nil Processing fee also available.

Valuation Fee

Rs 250 for loan upto Rs 1.5 lacs and Rs 500

for loan over and above Rs 1.5 lacs

Foreclosure charges

Upto 1%.
Option of Nil Foreclosure charges also
available

Charges for late payment of loan amount

2% p.a. as penal interest over and above

applicable rate of interest.

Stamp Duty & other statutory charges

As per Applicable laws of the State

Renewal Processing Fees

Upto Rs 500

Prepayment/Partpayment charges

Upto 1%

NOTE: A Service Tax of 12% and an Education Cess of 3% of the service tax amount will have
to be paid on the fees and charges mentioned in the brochure regarding Tariffs, Charges or Fees.
For your convenience, these taxes will appear as separate debits in your statements. All fees and
charges can be changed at the sole discretion of the Bank.

MUTHOOT
No processing fee.

8. What is the guarantee of safety of my ornaments/jewellery pledged with

IIFL?
IIFL
Gold ornaments pledged by you are secured in a fire and burglary proof vault in our Gold Loan
branch. Besides, the branch is under electronic surveillance and guarded by security all the time.
Moreover, the pledged ornaments are covered by insurance. So your gold is completely safe with
us.

HDFC

MUTHOOT
Yes it is. We understand the sentiment attached to your ornaments and therefore we have
installed specialized safe rooms and CCTV cameras for around the clock surveillance in all of
our 4100 plus branches. The gold items pledged with Muthoot Finance Ltd. are entered into our
systems and all submissions are locked away in tamper proof packaging.

9. Can I foreclose my loan account / Can I close my loan account before its
tenor? What are the charges involved in such a case?
IIFL
Yes, you have an option to foreclose your account where you can pay-back the loan amount
before it's tenor and release your gold from the branch. No extra charges are involved in such
foreclosure apart from normal interest rates till the date of foreclose. However, a minimum
interest of seven days will be charged in case you wish to foreclose your account before seven
days of the date of availing the gold loan.

HDFC
Foreclosure charges

MUTHOOT

Upto 1%.
Option of Nil Foreclosure charges also
available

10.Can I make part payment of my loan amount?

IIFL
Yes, you can make a part payment where you can pay-back a part of the total loan amount. Here,
you will get an advantage of future interest being charged only on the balance principal amount
left after part-payment. Moreover, you may chose to release a part of your gold
ornaments/jewellery as per the amount of loan paid back.

HDFC
MUTHOOT
The loan can be repaid at any Muthoot Finance Branch, irrespective of the location. Muthoot
Finance's CBS system is implemented in all branches and allows the customers to repay their
loans from any branch. However, final collection of the pledged gold will have to be from the
initial branch where it was pledged.Yes one can make partial payment along with the interest for
the previous period. For eg. If one has a gold loan of a lakh rupees for a period of 3 months.
He/she may come on 20th day from the start of the loan and pay 20 days interest and an
additional Rs.10000.00 (part payment), then this additional amount will be fully adjusted from
the principal amount and from 21st day the interest will be charged on Rs.90000.00

11.Can I part release my gold?

IIFL
Yes, you can part release your gold but you would have to pay-back a part of the loan amount as
per the value of gold to be released.

HDFC
MUTHOOT

12.Can I pay my loan amount or interest at any of the PAN-India IIFL gold
loan branches?
IIFL
Yes, you can pay-back your loan amount or interest due at any of the Pan-India IIFL-Gold Loan
branches. However, to redeem your gold ornaments/jewellery, you will have to visit the branch
from which the loan was availed.

HDFC
MUTHOOT
The loan can be repaid at any Muthoot Finance Branch, irrespective of the location.
Muthoot Finance's CBS system is implemented in all branches and allows the
customers to repay their loans from any branch. However, final collection of the
pledged gold will have to be from the initial branch where it was pledged

13 .How long does it take to process Gold Loan?

IIFL
3-5MIN

HDFC
A gold loan is disbursed within One Hour. This is, however, subject to the verification of the gold
and other documents that you submit. Approvals are at the sole discretion of the bank.

MUTHOOT
3-5 MIN