IIFL Finance launches special gold loan for women

Leading non-banking financial company IIFL Finance on Wednesday announced a special gold loan offering for women borrowers in the run-up to Independence Day, designed to help women entrepreneurs and homemakers convert idle household gold into productive capital. The offering is available at IIFL Finance gold loan branches across India. The scheme offers a special interest rate starting from 0.81 per cent per month (9.72 per cent per annum) at zero processing fees for women borrowers.  The scheme also provides maximum permissible loan value against the customer’s gold, within the loan-to-value limits prescribed by the Reserve Bank of India. Mayank Sharma, Head — Gold Loan, IIFL Finance, said, “For millions of Indian women, the gold in the cupboard is the most valuable asset they own, and for generations it has done nothing at all. A gold loan changes that, without asking her to part with it — she pledges, she borrows, she repays, and her jewellery comes home.”