Benefits of taking a Gold Loan

Loans up to Rs. 2 crore. Free insurance of gold. Part-release facility. Get these benefits and more.
Benefits of taking a Gold Loan
5 min read
28 Oct 2022

You may have an urgent need for funds to meet planned or unplanned expenses, for which you need to take a loan. Here is why you should opt for a loan against your gold jewellery in such a situation, instead of breaking an investment, or taking out a mortgage against your property:

Make idle assets work for you

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 amount of up to Rs. 2 crore against it.

When you apply for a gold loan, your jewellery is weighed and valued as per the present day’s 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 jewellery.

For example, in March 2010 Supriya purchased a 22-carat gold necklace for Rs. 1 lakh. She wants to get a loan against it in 2022, and applies for the loan in March 2022. When Surpriya’s necklace is evaluated, the gold prices have increased. Hence, the necklace is calculated to be worth Rs. 1,50,000 in March 2022.

In this case, Supriya will be offered a loan of Rs. 1,50,000 against her necklace, instead of Rs. 1 lakh.

Get funds faster

It is very easy to apply for and get a gold loan from Bajaj Finserv. This makes it ideal when you need funds quickly, and do not want to pay the higher interest rates that come with unsecured loans.

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 jewellery 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, the funds are disbursed quickly to your bank account.

Additionally, you do not need to maintain a high credit score or provide proof of income to get this loan. This makes the paperwork process much faster.

Repay at your ease

Bajaj Finserv Gold Loans come with several repayment options, to make the loan affordable for you. You can choose to repay it in regular EMIs that comprise the principal and interest amounts together.

If this is not feasible for you, you can just repay the interest on a monthly, bimonthly, quarterly, half-yearly, or even annual basis. You will have to pay back the principal as a lump sum at the end of the loan tenure.

Apply

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply