3 weeks ago
IIFL Finance unveils special gold loan scheme for women
IIFL Finance is a company in India that gives people loans.
It has started a special offer just for women.
Women who have gold at home can bring it to the company and get money in return.
This money can help them start or grow a small business, or manage home needs.
The special deal gives women a lower borrowing rate, starting at 0.81 per cent each month.
That works out to about 9.72 per cent for a whole year.
Women also do not have to pay any processing fees for this loan.
The offer is available at every IIFL Finance gold loan branch in India.
It was announced just before Independence Day.
The rules follow limits set by India's central bank, the Reserve Bank of India.
IIFL Finance, a non-banking financial company, announced a special gold loan offering for women borrowers ahead of Independence Day.
The scheme offers an interest rate starting from 0.81 per cent per month (9.72 per cent per annum) with zero processing fees.
The product aims to help women entrepreneurs and homemakers convert idle household gold into productive capital.
The offering is available across all IIFL Finance gold loan branches in India.
Loans are provided up to the maximum permissible value within loan-to-value limits prescribed by the Reserve Bank of India.
- Who
- IIFL Finance, a non-banking financial company (NBFC), and women borrowers in India.
- What
- A special gold loan scheme for women with a reduced interest rate and zero processing fees.
- Where
- Hyderabad, with availability across all IIFL Finance gold loan branches in India.
- When
- Announced in the run-up to Independence Day.
- Why
- To help women entrepreneurs and homemakers transform idle household gold into productive capital.
Key facts
- Company
- IIFL Finance (non-banking financial company)
- Product
- Special gold loan scheme for women borrowers
- Interest Rate
- Starting from 0.81% per month (9.72% per annum)
- Processing Fees
- Zero for women borrowers
- Target Borrowers
- Women entrepreneurs and homemakers
- Availability
- All IIFL Finance gold loan branches in India
- Regulatory Limit
- Maximum permissible loan-to-value limits set by the Reserve Bank of India
Sources
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