IIFL Forex Broker

IIFL Review SummaryFounded1995Registered Country/RegionIndiaRegulationNo RegulationServicesGold Loans, Gold Loans at Home, and Business LoansPlatform/APPIIFL Loans Mobile AppCustomer SupportLive chatTel: 1860-267-3000, 7039-050-000(09:30 am to 6:00 pm from Monday to Friday & 09.30 am to 4.00 pm on Saturdays)Email: gold-helpline@iifl.comIIFL Information IIFL is an online trading platform, offering a variety of loan products, including instant Gold Loans and Business Loans up to ₹75 Lakhs, with transparent rates and clear prepayment policies. They provide a convenient online payment system via their IIFL Loans Mobile App and popular payment apps like Google Pay and Paytm.Pros and ConsProsConsDiverse loan offeringsUnregulated brokerTransparent rates and chargesHigh interest ratesIs IIFL Legit? IIFL is an unregulated broker. Please be aware of the risk! The WHOIS search shows the domain iifl.com was registered on July 28, 2003. Its present state is “client transfer prohibited,” which indicates the domain is locked and cannot be moved to another registrar.Loan Services RIIFL offers a variety of loan products, including instant Gold Loans, Gold Loans at Home, and Business Loans up to ₹75 Lakhs.FeesCharge TypeDetails/AmountNotesRate of InterestUpto 36% p.a.Effective from Sep 01, 2024Loan Processing ChargesUpto 5% + GSTNACH / E-Mandate Bounce ChargesUpto Rs. 2500/- + GSTIf applicablePenal / Default Charges24% p.a. + GSTFor failure to make timely payments (if applicable)Document Charges + GSTUpto Rs. 4500 + GSTIn RupeesBank Swapping ChargesRs. 500 + GSTIf applicableOther Charges (NESL Reporting)As Applicable + GSTCharged annually per NESL fee schedule; subject to change by NESL Prepayment / ForeclosureConditionChargeWithin 6 months from the date of first drawdown7% of the outstanding loan amount together with applicable taxesOn and from the 7th month up till 24th month from the date of first drawdown5% of the outstanding loan amount together with applicable taxesAfter 24 months from date of first drawdown4% of the outstanding loan amount together with applicable taxesPlatform/APPTrading PlatformSupportedAvailable DevicesIIFL Loans Mobile App✔Android, iOSPayments RIIFL offers a quick, easy, and convenient online payment system for loan dues. Customers can conveniently make payments anytime, anywhere, directly through popular apps such as Google Pay, Paytm, Bhim, PhonePe, and Mobikwik.