Benefits of Pledging Your Gold Jewellery for a Quick Loan

Benefits of Pledging Your Gold Jewellery for a Quick Loan

Pledge your gold jewellery for a quick gold loan and manage your expenses without selling your precious jewellery. Check your gold loan eligibility and unlock the true value of your gold.

Rs. 5,000 - Rs. 2 crore

To find the nearest gold loan branch,

Enter phone and OTP | Check amount you can get | Apply for quick funds

Why gold jewellery is a trusted collateral for quick loans in India


In India, gold jewellery is viewed as a highly valuable asset, much like land or property. Gold is often cherished as heirlooms passed down for generations. However, it is not just because of their beauty or status symbol that they are prized. It is also because gold can serve as collateral for a loan, making it a valuable resource during financial emergencies.
 

When you pledge gold for a loan, you can use the amount for any immediate need you may have. Unlike other secured loans, gold loans are ideal for fulfilling various planned or unplanned expenses. It could range from financing your child's higher education, covering medical emergencies, to getting some home repair done.


You can easily get a quick loan starting from Rs. 5,000 to Rs. 2 crore, in exchange of your 18-22 karat gold jewellery.


Why pledge gold for money?


If you own gold jewellery and are wondering if it is a good idea to take a loan against it, read on to discover five major reasons to take a gold loan:
 

1. Low interest rate

A significant benefit of taking out a gold loan is that it usually offers a lower interest rate compared to unsecured loans such as personal loans. This is because the gold serves as collateral for the lender, lowering the level of risk involved. Bajaj Finance offers gold loan interest rate ranging from 9.50% to 24% per annum, making it an excellent choice for obtaining funds without the added burden of high interest rates.

2. No part-prepayment or foreclosure fee

You can repay a part of your gold loan in advance or pay the entire amount at no extra charges, which further reduces the overall loan servicing expenditure.

3. Multiple repayment options

With gold loans, you have the flexibility of choosing from multiple repayment options. One option is to pay the entire interest amount at the beginning of the loan tenure and settle the remaining principal later. Alternatively, you can select monthly, quarterly, or yearly interest payments and pay off the principal amount at the end of the loan tenure.

4. No CIBIL Score check

Gold loans are secure loans, so you do not need a good CIBIL Score to get them. All you need is gold jewellery that meets the standards, and the loan will be approved against it. This makes gold loans a great choice if you have a low credit score or no credit history.

5. Free insurance of gold

Our free insurance covers against theft or misplacement of your gold jewellery while it is in our custody. 


Pro-tip: Do not let your jewellery sit idle—tap into its value with a gold loan that suits your needs. Apply for a gold loan today! 


How do I apply for a Bajaj Finserv Gold Loan?


Applying for a gold loan is easy and can be done directly on our website. Here are the steps that you need to follow:
 

  • Step 1: Click on the ‘APPLY’ button to open the online application form.
  • Step 2: Enter your full name and 10-digit mobile number.
  • Step 3: Provide your city name and select your nearest branch location.
  • Step 4: Complete the online process by submitting the OTP sent to your phone.
     

Once you have completed the online application, a Bajaj Finance representative will help you schedule an appointment at your preferred gold loan branch. Our quick processing at over 1100 branches across the country ensures a hassle-free and convenient loan disbursement experience.

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Interest rate and other applicable charges on gold loan


A gold loan is often considered cost-effective because it usually comes with competitive gold loan interest rate compared to many other credit options. With Bajaj Finserv Gold Loan, you pay interest only on the amount borrowed, making repayment easier to manage. Alongside the interest rate, there may be charges such as processing fees, valuation costs, stamp duty, or late payment penalties. All these are shared with you upfront, ensuring full transparency and no hidden surprises. By understanding the interest rate and applicable charges in advance, you can plan your loan better and make informed decisions about borrowing against your gold.

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Eligibility criteria for gold loan 


Gold loan eligibility is kept simple so that you can access funds without unnecessary hurdles. Since the loan is secured against your gold jewellery, the approval process is quick and straightforward. Individuals owning 18-22 karat gold ornaments can easily qualify, making it one of the most accessible loan options available. It is, however, always suggested to understand the complete  gold loan eligibility requirements in detail before applying, as factors like age and the value of your gold can influence approval. Knowing these beforehand helps you make an informed choice and ensures a smooth borrowing experience when you decide to apply for a gold loan.

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Application process for gold loan 


The gold loan application process with Bajaj Finance is designed to be simple and hassle-free. You can apply online through the Bajaj Finserv App or website by filling in a quick form. If you prefer in-person assistance, you can also visit the nearest Bajaj Finserv Gold Loan branch. All you need to carry are your gold ornaments and basic KYC documents. Once your gold is evaluated, your gold loan amount is sanctioned, and the funds are transferred directly to your bank account. This smooth and transparent process ensures you get access to funds without unnecessary delays.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.