Q: What is IIFL Finance?
A: IIFL Finance (India Infoline Finance Limited) is a leading financial services company in India, providing a variety of lending and investment products. It is part of the IIFL Group and offers a range of financial solutions, including home loans, personal loans, gold loans, business loans, and wealth management services.
Q: What is the IIFL Gold Loan Refer and Win program?
A: The IIFL Gold Loan Refer and Win program is an initiative where existing or win-back customers of IIFL Gold Loan can refer new customers and earn reward points on successful referrals.
Q: From when is the IIFL Gold Loan Refer and Win program in effect?
A: The program shall be in effect from 26th April 2023.
Q: What can customers earn through this program?
A: Customers can win 200 points on Insta Rewardz (1 point = 1 Rupee) for each successful referral.
Q: Who are eligible to participate in the program?
A: All existing customers who have/had a Gold loan with IIFL Finance are eligible to participate.
Q: How can customers refer new potential clients?
A: Customers can refer potential clients through their nearest branch or the Online Referral on the Insta Rewardz portal.
Q: What constitutes a successful referral?
A: A referred customer must be new to IIFL Finance Gold Loan, must take a Gold Loan within 30 days of being referred, and take a minimum loan of INR 10,000.
Q: Who is not eligible for the program?
A: NPA customers above 90 DPD and customers whose referred is already an IIFL customer are not eligible.
Q: Can the campaign period be extended?
A: Yes, IIFL Finance can extend the campaign period although the maximum referral benefit would remain the same.
Q: Can the reward decision be contested?
A: No, the rewarding decision by IIFL Finance is final and cannot be contested.
Q: What is the requirement for the loan taken by the referred person?
A: The loan taken by the referred person should remain active for atleast 30 days.
Q: Can IIFL withdraw the program?
A: Yes, IIFL can withdraw the program without giving prior notice at any time.
Q: What happens in the event of a dispute?
A: In case of any disputes, they shall be subject to the exclusive jurisdiction of competent courts at Mumbai and IIFL's decision would be final.
Q: Is there a similar program for IIFL Business Loan and Personal Loan?
A: Yes, there is a similar IIFL Business Loan and Personal Loan Refer and Win program.
Q: What is the reward for the Business and Personal Loan program?
A: Customers can earn 500 points on Insta Rewardz (1 point = 1 Rupee) for each successful referral.
Q: Who is eligible for the Business and Personal Loan program?
A: All existing customers who have/had a Business loan or Personal Loan with IIFL Finance are eligible to participate.
Q: What constitutes a successful referral in Business and Personal Loan program?
A: Similar to the Gold Loan program, a new customer must take the Business/Personal Loan within 30 days of referral, with a minimum loan value of INR 10,000.
Q: Is there a limit to the number of successful referrals in a month?
A: Yes, a customer can be rewarded for a maximum of 3 successful referrals in a month.
Q: Who is not eligible in the Business and Personal Loan program?
A: NPA customers above 90 DPD and customers whose referral is already an IIFL customer are not eligible.
Q: Can the Business and Personal loan campaign period be extended?
A: Yes, similar to the Gold Loan program, the campaign period can be extended but the referral benefit remains the same.
Q: Is the reward decision for the Business/ Personal loan program also non-contestable?
A: Yes, the decision made by IIFL Finance is final and cannot be contested.
Q: Is there a minimum active period for the loan taken by the referred person in the Business/ Personal loan program?
A: Yes, the loan should remain active for at least 30 days.
Q: Can IIFL withdraw the Business and Personal Loan program?
A: Yes, similar to the Gold Loan program, this can be withdrawn at any time by IIFL without prior notice.
Q: What is the recourse in case of disputes for the Business and Personal Loan program?
A: Any disputes are subject to the exclusive jurisdiction of competent courts at Mumbai, with IIFL's discretion being final.
Q: Are there any differences between the Gold Loan and Business/Personal Loan programs?
A: The key difference is the reward amount, with the Business/Personal Loan program offering 500 points per referral, compared to 200 points in the Gold Loan program. Also, a limit of 3 successful referrals per month is imposed on the Business/Personal Loan program.
Q: Can I participate in both programs?
A: Yes, existing customers who have/had a Gold loan, Business loan, or a Personal loan with IIFL Finance can participate in both programs.
Q: What types of loans does IIFL Finance offer?
A: IIFL Finance offers various loan products to cater to the needs of diverse customer segments. These include:
Home Loans: For purchasing or constructing residential properties.
Personal Loans: For personal financial needs such as education, medical emergencies, or weddings.
Gold Loans: Quick loans provided against gold jewelry or coins.
Business Loans: Customized loans for small and medium enterprises (SMEs) for expansion, working capital, etc.
Loan Against Property (LAP): Loans offered against the mortgage of residential or commercial property.
Q: How do I apply for a loan from IIFL Finance?
A: To apply for a loan with IIFL Finance:
Visit the official IIFL website or download their mobile app.
Choose the type of loan you are interested in.
Click on the 'Apply Now' button and fill in the required details.
Submit necessary documents for verification.
Upon approval, the loan amount will be disbursed to your account.
Q: What are the eligibility criteria for taking out a loan from IIFL Finance?
A: Eligibility criteria vary based on the loan product:
Age: Applicants typically need to be between 18 to 75 years.
Income: A steady source of income is required; specifics depend on the loan type.
Employment: For personal loans, a steady job or consistent self-employment is crucial.
Credit Score: A good credit score (usually above 650) helps in securing a loan with favorable terms.
Each loan product has specific requirements, so please check IIFL Finance's official documentation for precise information.
Q: What are the interest rates for loans from IIFL Finance?
A: Interest rates for IIFL Finance loans vary depending on the loan type, tenor, and the applicant's creditworthiness. They are competitive and in line with industry standards. For accurate rates, refer to the IIFL Finance website or contact their customer service directly.
Q: How can I use the IIFL online portal or app to manage my loan?
A: IIFL's online portal and app provide customers with the ability to manage their loans conveniently. Customers can:
Check loan balances and statements.
Pay EMIs online.
Update personal information.
Track loan application status.
Access customer support.
To use these services, register for an online account using your loan details and create a secure login.
Q: How can I contact IIFL Finance for queries regarding my loan?
A: You can contact IIFL Finance through various channels:
Customer Care Number: Call their helpline for immediate assistance.
Email: Send an email with your query or concern.
Branch Visit: Visit the nearest IIFL branch for face-to-face assistance.
Online Support: Use the helpdesk or live chat on the IIFL website or app.
The contact details and timings are listed on their official website.
Q: What documents are required to apply for a loan from IIFL Finance?
A: The document requirements for a loan application vary depending on the loan product but generally include:
Proof of Identity (Aadhar Card, PAN Card, Passport, etc.)
Proof of Address (Utility bills, Rent Agreement, Voter ID, etc.)
Income proof (Bank statements, salary slips, income tax returns, etc.)
Loan application form
Photographs
Business loans may require additional documents related to the business's existence and financial health.
Q: Is it possible to prepay or foreclose my loan with IIFL Finance?
A: Yes, IIFL Finance offers the option to prepay or foreclose your loan subject to certain terms and conditions which may include prepayment charges based on the type of loan and the timing of repayment. It is advisable to read the loan agreement carefully and consult with an IIFL representative regarding any potential charges.
Q: How does IIFL Finance ensure the security and privacy of my financial information?
A: IIFL Finance is committed to protecting customer privacy and utilizes robust security protocols to safeguard financial and personal information. This includes secure servers, data encryption during transmission, and strict internal policies concerning data access. Compliance with relevant laws and regulations ensures a high standard of confidentiality and security.
