Are you looking for a loan from Indel Money? Here we povide complete infromation about the company.
Indel Money is one of the Non-Banking Finance companies that has been in the business of solving credit problems for lots of customers all over the country.
The Reserve Bank of India(RBI) regulates Indel Money. In the year 2002, Indel money got its license to do business and after about two(2) it has over 191 branches in about five(5) states in India.
The States include Andra Pradesh &Telengana, Karnataka, Kerala, Territory of Puducherry, & Tamil Nadu.
The best thing about Indel Money is that it serves a wide range of customers and offers several financial services to both business institutions, high net-worth individuals, the common man, and retail investors.
Indel money financial services spread across different industries like automobile, media, communication, hospitality, etc.
Its headquarters is in Kochi and its CEO is the phenomenal Mr. Umesh Mohanan.
Types of Loan Offered at Indel Money
- Gold loan
- MSME loan
- Loan against Property
- Consumer Durable loans
You can check for any of these loans and apply online if you visit Indel Money’s official website at https://indelmoney.com/
1. Indel Money Gold Loan
Gold is a valuable asset that one can liquify to settle urgent financial needs. India is one of the leading importers of gold so its citizens are sentimental about gold.
With your gold, you can get maximum value for it instantly without much stress at any Indel money branch or location.
Indel money also offers gold loan services with low-interest rates. They are one of the leading providers in the gold loan industry. Indel money has built trust when it comes to gold loaning services because of their tailor-made options that fit each of your requirements.
More also because of their low-interest rates, instant processing, and easy documentation.
Some of the financial needs you can solve by using your gold loan include;
- Educational Purposes
- Other personal financial needs
- Business start-ups and expansions
- Capital for large purchases
- Medical emergencies, etc.
The best part of availing of your gold loans at Indel money is that it is stress-free, and all you need to do is walk into any of their branches, make your intentions known, present and sign the necessary documents.
Why You Choose Indel Money for Your Gold Loan Transactions
Below are some of the benefits which keeping your gold with Indel money gets you;
- Safety guaranteed
- Instant Processing
- Attractive Interest loans
1. Safety Guaranteed:
With Indel money, you should rest assured that your precious jewelry is safe and secure. Indel money seals and moves your gold ornaments to their strong rooms.
To further convince you of the safety of your gold, you should know that all of the Indel money branches have a central security system with a CCTV camera across all of them including alarm systems. Claiming your gold back is also easy as you can come anytime during work hours to do that.
Indel money offers a comprehensive gold loan scheme to involve all income groups. This means that you can get gold loans up to about Rs 10,000,000 and the least Rs 1000.
3. Instant Processing:
At Indel money, you can get your gold loan within minutes of application and also select a repayment option that fits you.
4. Attractive Interest Loans:
Just as mentioned earlier, Indel money is also popular for its low-interest rates which gives them a competitive advantage over other brands.
With Indel money, you are sure that there are no hidden charges. They make sure that they communicate openly to you all processing costs, payment modes, and other charges right when you begin your loan processing.
Some other benefits include; tailor-made repayment plans, a maximum value for your gold, easy documentation, part-payment, and prepayment options, etc.
Documents needed for a successful gold loan application.
- Proof of identity: This can be any of the following; driving license, voters ID Card, a copy of your passport.
- Proof of address: This can be any of these; driving license, ration card, electricity, telephone Bill.
2. Indel Money MSME Loan
Indel money’s MSME loan offerings are custom-made for aspiring entrepreneurs. They have various packages for your needs which may include working capital, debt consolidation, business expansion, fixed asset purchase, etc.
MSME loans can come in form of the following;
- Trader’s loan
- Business loan
A trader’s loan
It is a short-term loan that traders can key into for the success of their business. As a small business owner, in your struggle to meet up with daily working capital you could need a bulk amount of money for your business model to be successful. Moreso, the timely availability of such funds would make a huge difference.
Indel money for this reason offers a package called Trader’s 100 days trader’s loan to micro and small business owners. It has various repayment options you can choose from based on your trade model.
Indel money offers business loans to ensure the ready availability of credit to enable fixed asset purchases or working capital. Indel money bases their business loans on structured financing, so also is the repayment plan. They base the repayment plan on your cash flow model and it comes with equated monthly installments (EMI).
Benefits of Getting an MSME Loan from Indel Money
- You can get both collateral and non-collateral loans from Indel Money.
- There are no mandatory income tax returns.
- There is minimum documentation.
- Indel money accesses your income through real-time analysis.
- There are zero hidden charges and complete transparency.
- To MSME clients, Indel money offers a wide range of loan schemes at attractive interest rates to ongoing MSME clients.
- You could get up to 60% funding for collateral on secured loans.
Indel Money’s MSME loans schemes aim to serve the following persons;
- Manufacturing companies: This involves companies that have themselves in manufacturing, processing, packaging, etc with investment in goods and machinery.
- Service enterprises: This has to do with companies involved in rendering services with investment.
- Small Traders: Enterprises classified as small traders include provision stores, automobile workshops, textile shops, poultry, service centers, medical stores, etc.
MSMEs have a huge impact on the development of the economy of any country and India to be precise. MSMEs have a higher labor intensity than large enterprises.
On that note, helping the micro, small and medium enterprises grow is more like helping larger people come into jobs and also join the organized sector. This is what Indel Money seeks to do by committing themselves to provide timely financial aid for MSMEs channeled in the right investment.
MSMEs usually have a common problem of lack of adequate working capital, less than a standard book of accounts, and banking habits. The latter hinders them from accessing financial support which is where Indel money comes in.
The benefit of working with Indel Money is that they don’t just lend you their money, your success interests them which is why they spend time with you and your business to understand how your cash flow works. This helps them analyze carefully which aspect of your business deserves more of the loan you are about to get.
The growth of MSME in the Indian economy affects the following industries; food processing, agricultural inputs, chemical and pharmaceuticals, meat products, bioengineering, sports goods, plastic products, textiles, and garments, etc.
Documents Required For MSME Loans at Indel Money
Asides from the application form, they could request any of the following documents;
- Bank Account statement
- Driving license as residential proof
- PAN Card number
- Aadhar card
- Electricity bill
3. Idel Money Loan Against Property
In case you are looking for a long term to solve your financial needs in your business. Indel money has provision for you to gain access to quick and easy long-term loans by using your property.
You could have access to high-value loans by leveraging the power of your property assets. The best part is this, Indel money, in their usual flexibility, has various schemes which you can choose from based on your investment plans.
Documents You Might Need to Secure Loan Against Property at Indel Money
- Proof of income could be your bank statement from six(6) months back or your last six(6) months salary slip.
- Proof of identity or residence could be either your driver’s license, voter’s ID, passport, etc.
- Title deeds on the property you wish to use as security.
4. Consumer Durable Loans
Imagine needing an item in your household or for any other reason but limited by lack of funds. Indel money offers you the opportunity to own consumer durables or the products of your choice at no cost. All you need to do is walk into any branch of Indel money and apply for your next purchase of consumer durables.
One thing you can also be sure of is that at Indel money you are certain of getting the best loaning experience in the form of flexible repayment plans, no processing fees, no EMIs, etc.
Some of the products you can avail using the Indel money include;
- Mobile Phones
- Washing Machine
- Gas Top Stove
- Sewing Machine
- Mixer grinder
The benefits of availing yourself of a consumer durable loan include but are not limited to the following:
- They cover a wide range of consumer products.
- You can get up to 100% finance.
- There is also a flexible repayment option with no EMI.
- There is complete transparency.
- Multiple payment options and schedules.
- You can purchase many products with one loan.
- There is no processing fee.
Who is Eligible For Getting A Loan at Indel Money?
The following persons are eligible to get a loan at Indel Money;
For Consumer Durable Loan
- You must be at least 21 years of age and not more than 60 years of age.
- You should be a citizen of India either salaried or self-employed.
- Your gold ornaments as a form of security.
- Tenure– 6 months
For MSME Loan
- You should be a citizen of India
- The age range should be between 21-55 years of age.
- Your business must have stayed at least 3 years.
- Your ITR should be up to date at least up to the previous year.
- You should have a good credit score for the credit management to approve your loan.
For Gold Loan
- You must be an Indian citizen.
- You must be a salaried individual.
- And then the obvious, you must own gold ornaments to be able to access the gold loan.
Idel Money Reviews
According to AmbitionBox, 59% of employees reported the work timings at Indel money to be strict, from 9.30 am to 5.30 pm, while 41% reported it as flexible. The workdays are from Mondays to Saturdays.
Also, on AmbitionBox’s platform, a user who was a former employee recommended Indel Money as a good company to work in. Another review also read that it would be a good place for you to work in if you are good at sales.
Also, AmbitionBox reveals that five(5) women rated Indel money 5.0 stars for Job security and 5.0 for work/life balance. Whereas five(5) men rated it 3.9 for work/life balance and 3.7 for skill development.
Indel money is out to provide a seamless loan processing experience for their customers meeting them at their point of need and helping them grow their business. If you are looking for the best credit financing company, then Indel money should be your go-to.
Frequently Asked Questions
What is Indel Money?
Indel money is a non-banking financial company(NBFC) that provides accurate financial solutions to various people in different spheres.
Is Indel Money safe for my gold and information?
Yes, Indel money is safe and it operates a central security system across all of their strong rooms with CCTV cameras and security alarm systems built into it.
What is the benefit of getting a gold loan from Indel Money?
Getting your gold loan from Indel money has many attractive benefits. Ranging from the low-interest rate to the simple and hassle-free documentation process. They also offer various repayment options and have in-house evaluations. Above all, Indel money values long-term relationships and customer satisfaction.
What is the gold loan interest rate?
Gold loan interest rates at Indel Money range from 12%- 30% yearly. Also, you can pay up your debt within one(1) day or two(2) years depending on your EMI or loan repayment plan at which case you pay the capital plus the interest.
How does a gold loan work?
A gold loan is a secured loan and it is easy to get. All you need to do is walk into any branch of Indel money with your gold ornament, after signing the necessary document, the officer in charge will evaluate your gold and give you the value of your gold.
What happens if the gold loan is not repaid?
What happens here totally depends on the lender. Indel Money reminds its customers from time to time about their dues. However, if they still leave it unpaid, the management would apply the additional charges based on the gold loan terms and conditions.
What does a gold loan per gram mean?
This means the value of the gold loan you get per gram of gold. With this knowledge, you can estimate how much you are likely to get for your gold.
Can I pledge gold coins for a gold loan?
No, you can’t. RBI regulations are against it.
What are the fees for availing of MSME loans at Indel Money?
To avail MSME loan at Indel money, you are to pay a non-refundable fee of Rs7500 minimum as a processing fee.
Does Indel money need a third-party guarantee for MSME loans?
If the loans are up to Rs 2 lakhs, no one would ask you for any collateral or security. It is covered under CGTMSE. Also, if your track record is good and you have a good financial position, Indel Money can ask for collateral or a third-party guarantee to give you loans of up to Rs 20 lakhs with the approval of the appropriate authority.
Can I repay my loan ahead of time?
Yes, you can repay your loan before time by making part or full prepayment with the applicable charges. They can also increase your EMI if you wish to clear your debt before time.
How will I know that Indel money has sanctioned my loan?
As regards this, you shall receive information from one of their representatives along with a sanction letter which you will need to accept and send a copy back to them for further processing.
What are MSME loan interest rates?
The interest rate for MSME generally ranges from 10-15% depending on the lender and also your business profile.
How do I know if I’m eligible for an MSME loan?
Each institution has its eligibility criteria. However, on a general note, to be eligible, first you have to be an Indian citizen between the ages of 25-55. Then you should have a good credit score, and at least three(3) years of experience in the business, you should also be up to date in your Income Tax Returns.
What is the least amount of loan that I can get at Indel money?
You can get MSME loan amounts of about Rs 25,000 to Rs 20,00,000 lakhs with Indel Money.
Is there any customer care number for Idel Money
Yes, you can call 1800-4253-990 for more details.
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