In India, gold is not just a precious metal, but it is also a sentiment. Women in the country have a special attachment to the yellow metal and consider it as a symbol of prosperity, good luck, and financial security. For centuries, gold has been a part of the Indian culture and heritage, and women have always played a significant role in owning and exchanging it.
Gold loans offer women a valuable tool for financial empowerment. With easy accessibility and flexible terms, these loans provide women with the means to address various financial needs efficiently. Whether for business endeavours, educational pursuits, or managing emergencies, gold loans offer a reliable and accessible source of funding, fostering women's financial independence and security.
Benefits of Gold Loan for Women
Here are some of the benefits that gold loans offer to women in India:
- Quick disbursal of funds
Gold loans are easy to avail of, and the disbursement of funds is fast. Since the loan is secured and the asset (gold) pledged by the borrower is valuable, the lender can disburse the loan amount within hours from the time of application. This makes it an attractive option for women who find themselves in urgent need of funds. - Affordable interest rates
Gold loans come with a lower interest rate as compared to unsecured loans. This is because the collateral, which is the gold, reduces the risk for the lender. And since women usually have gold, they can use it as collateral to avail a loan at an affordable interest rate. - Flexibility in repayment
Gold loans offer flexibility in repayment options. Lenders allow borrowers to choose the tenure of the loan, and the repayment schedule can be customised according to the borrower's convenience. This helps women to manage their finances better. - No credit history required
Unlike other types of loans, gold loans do not require the borrower to have a credit history. This makes it easy for women who have not availed any loans before to access funds in times of need. - Maintains ownership of gold
When women take a gold loan, they are pledging their gold as collateral, but they still retain ownership of it. Once the loan is repaid, the gold is returned to the borrower. This gives a sense of ownership and security to women, as they are not losing or selling their asset, but using it as a financial tool in times of need. - No restrictions on end-use of funds
Gold loans come with no restrictions on the end-use of funds. Women can use the loan amount for any purpose. Be it to pay for healthcare expenses, to invest in their businesses, or to fund their children's education.
How to apply for a gold loan
To apply for Bajaj Finserv Gold Loan just follow a few simple steps:
- Click on ‘APPLY’ to open our online application form
- Enter your 10-digit mobile number and click on ‘GET OTP’
- Submit the OTP to verify your identity
- Select your state and city to find the branch nearest to you
- Enter your full name and date of birth as per your PAN
- Set up your appointment at our branch
Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.
Interest rate for gold loan
Bajaj Finserv Gold Loan interest rate starts at just 9.50% per annum that can be utilised for multiple purposes.
Know all about our fees and charges before applying.
In conclusion, gold loan for women can be a powerful tool to meet their financial needs in times of crisis. It provides quick access to funds at an affordable interest rate, with flexible repayment options. Furthermore, it allows women to maintain ownership of their gold while using it as collateral for the loan.
