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Sometimes, life throws in expenses—whether planned or completely unexpected—and you may find yourself needing quick funds. In such moments, instead of breaking your investments or going through the lengthy process of other loans, a loan against gold jewellery, ornaments, or coins can be a smart, convenient, and faster option to consider.
Key takeaways
Here are a few advantages of getting a gold loan to manage your expenses.
Unlike a fixed deposit, which pays you dividends over time, gold sitting in your locker does not help you in any way. When you take a gold loan, you can put this idle asset to use and get a high loan ranginf from Rs. 5,000 to Rs. 2 crore against it.
When you apply for a gold loan, your jewellery, ornament or coin is weighed and valued as per the prevailing gold rates, not the rate at which you purchased it. Since gold is an appreciating asset, the loan amount you are offered is usually higher than the cost of the gold. Bajaj Finance considers lower of the previous day’s closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange to evaluate the loan amount against your gold.
It is very easy to apply for and get a gold loan from Bajaj Finance. This makes it ideal when you need funds quickly, and do not want to pay the higher interest rates that come with unsecured loans.
To get the gold loan benefits, you simply have to fill out an online application form. After this, we will contact you to set an appointment at our nearest gold loan branch. You will need to take your gold there for evaluation. The process of evaluation itself only takes a few minutes.
Once your offer is ready based on the value of your jewellery, ornaments or coins the funds are disbursed to your bank account often in just 1 branch visit*. Additionally, you do not need to maintain a high credit score or provide extensive proof of income to get this loan. This makes the paperwork process much faster.
With us, you can avail a pre-payment option from the multiple repayment options as per your convenience. You can choose to repay gold loan 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.
Low interest rates on a gold loan can impact your borrowing experience significantly. With Bajaj Finance, for instance, you can access funds at competitive rates, starting from just 9.50% to 24.25% p.a., making it an affordable solution for your financial needs. This can help you save on interest costs, manage your expenses, and ensure a smooth repayment experience.
With us, the documentation process is very easy and straightforward. For verification, you just have to get any one of the listed necessary KYC documents- Aadhaar card, Voter ID, passport, driving licence, NREGA job card or a letter from the National Population Registration.
Unlike unsecured loans, gold loans are not solely dependent on your credit history or CIBIL Score. Your gold acts as security for the loan, making lenders more willing to extend credit despite no credit history or low credit score.
Gold loan not only helps you manage your urgent needs, but also comes with several tax benefits. However, the tax benefits you may get depends on the usage of the funds and the quantum of gold loan utilised. Taking a gold loan can get you Income Tax exemptions for purchase of residential property, home improvement, and more.
One more benefit of taking a gold loan with us is the free insurance on your pledged gold. While your gold remains in our custody, it is kept in advanced, highly secure vaults and fully covered against theft, fire at branch, burglary or misplacement. This ensures borrowers enjoy a truly stress-free loan experience.
Pro-tip: You can also use the online gold loan calculator on our website to get an estimate before visiting a branch. This helps you plan better and understand your loan eligibility.
Here is a step wise process to apply:
Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.
Not sure if you qualify? Find out in moments— check your gold loan eligibility and plan your next move confidently.
When you take a gold loan from Bajaj Finance, the interest rate plays a key role in deciding how affordable your repayments will be. The gold loan interest rate is calculated based on factors like the purity of your jewellery, ornaments or coins, the loan amount, and the chosen tenure. A competitive gold loan rate ensures you can borrow funds at lower costs while keeping your repayments manageable. With transparent charges and no hidden costs, you know exactly how much you will be paying, which helps in better financial planning. With us, you can benefit from gold loan interest rate ranging from 9.50% to 24.25% p.a.
Applying for a Bajaj Finance Gold Loan comes with simple eligibility requirements. You need to be an Indian citizen aged between 21 and 80 years and must own 18-22 karat gold jewellery or ornaments to pledge. You can also pledge 24 karat gold coins. Unlike other loans, you do not need a high credit score or income proof to qualify. Any salaried, self employed individual, homemaker and pensioner can apply. The eligibility is mainly determined by the value and purity of the pledged gold. This makes it easier for individuals, even those with limited credit history, to access quick funds through a secured loan.
Quick fix: From planned needs to sudden costs, your gold has you covered. Check your gold loan eligibility now and unlock immediate financial support.
To apply for gold loan with us, you can either opt for the online method via the Bajaj Finance App or website or visit the nearest gold loan branch for in-person assistance. After submitting the application, your gold will be evaluated in the branch, post that the eligible loan amount is sanctioned, and funds are disbursed directly into your bank account within just 1 branch visit*. The minimal paperwork and quick processing make it a convenient way to meet urgent financial needs without long waiting times.
Bajaj Finance offers funds ranging from Rs. 5,000 to Rs. 2 crore to manage your planned or urgent needs against 18-22 karat gold jewellery.
Bajaj Finance Limited (BFL) has the sole and absolute discretion, without assigning any reason to accept or reject any application as per BFL policy. *
