iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Indel Money enters the personal loan industry

17 Aug 2022 , 09:08 AM

A non-banking financing company called Indel Money that specializes in gold loans has joined the personal loan market.

According to the corporation, the feature will initially only be accessible to its current gold loan customers. Later, it will be made available to a larger segment.

The personal loan facility is being introduced by the NBFC through a digital platform. In other markets, it has just lately introduced an online gold borrowing option.

Any current Indel Money gold loan customer who has completed their KYC and has a good history of repaying their gold loans is eligible to apply for the company's digital personal loan. Based on the customer's average transaction value over the last 12 months, the loan amount will be approved.

Based on the customer's credit score, the interest rate ranges from 10 to 20%, with a repayment period of 3 to 6 months.

More than 225 branches of Indel Money throughout Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Odisha provide access to personal loans.

"With the introduction of our digital personal loan, our near-term goal is to harness the underserved need for urgent liquidity among our existing customers," chief executive Umesh Mohanan told ET.

By 2023, the Kerala-based lender hopes to have more than 500 branches across 11 states. Additionally, it plans to more than treble its gold loan book this fiscal year to around Rs1,400 crore.

Related Tags

  • Indel Money Personal loan
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.


Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp