In times of financial urgency, a gold loan with streamlined gold loan KYC processes emerges as a reliable solution. A gold loan offers a distinct advantage due to its secured nature. The backing of your valuable gold jewellery provides a sense of security, resulting in more favourable terms and often lower interest rates compared to unsecured loans. This is especially beneficial for those seeking immediate funds while wanting to avoid the complexities and delays associated with secured loan applications.
What is even more remarkable is the convenience that accompanies securing a gold loan – a process streamlined to the extent that it only necessitates your KYC documents along with your gold jewellery.
What is KYC?
KYC, or Know Your Customer, is a mandatory process that financial institutions follow to verify the identity and address of customers. It is an essential step to prevent fraud and ensure transparent transactions. Providing your KYC documents ensures that you are a genuine borrower seeking a loan for legitimate reasons.
To obtain a gold loan using your KYC documents, you need the following:
- Identity proof: A government-issued ID card like Aadhaar Card, passport, driver's licence, NREGA job card, or a letter from national population registration.
- Address proof: A utility bill, Aadhaar Card, passport, driver's licence, NREGA job card, letter from national population registration, or any government document that displays your current address can serve as your address proof.
PAN card is not a basic requirement. However, if you apply for a gold loan of Rs. 5 lakh or above you will be asked to submit your PAN card.
Benefits of Bajaj Finserv Gold Loan
Here are a few benefits of taking a gold loan from Bajaj Finance:
- Minimal documentation: Unlike other types of loans, gold loans with KYC documents involve minimal paperwork, making the process faster and more convenient.
- Quick processing: Bajaj Finance ensures quick processing of gold loans with KYC documents, allowing you to access funds swiftly. With Bajaj Finance, you can get a gold loan in as little as 15 minutes*.
- No credit check: Gold loans are secured loans, meaning your credit history does not significantly impact your eligibility. As your loan is secured against your 18-22 karat gold jewellery, your CIBIL Score, and credit history are not a hindrance in the loan application process.
- Multiple repayment options: Gold loans offer flexible repayment plans, giving you the freedom to choose a tenure that suits your financial situation. With Bajaj Finance, you can choose to repay your interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis as per your convenience. Please note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity.
- Retain ownership: When you repay the loan and interest, your gold jewellery is returned to you. You retain ownership throughout the loan tenure.
How to get a gold loan from Bajaj Finance?
To apply for a Bajaj Finserv Gold Loan online, just follow these few simple steps.
- Visit the Bajaj Finserv Gold Loan webpage.
- Access the online application form.
- Enter your 10-digit mobile number and receive the OTP.
- Submit the OTP to verify the details.
- Select the state and city to find the nearest branch.
- Enter your complete name and date of birth as per the PAN.
- Schedule an appointment at the nearest branch.
Upon successful submission of the application, a representative from Bajaj Finance will promptly get in touch to provide guidance for the next steps. Bajaj Finance has an extensive network comprising over 800 branches across India, ensuring efficient and seamless loan processing. This ensures that your loan journey remains hassle-free and convenient. Visit the Bajaj Finserv website to apply for a gold loan today.