Switch your gold loan to Bajaj Finserv
If you already have an ongoing gold loan with another lender, you can choose the gold loan balance transfer option and switch your loan to us.
With Bajaj Finserv, you can get a gold loan of up to Rs. 2 crore at an attractive rate of interest. And with more than 800 branches across the country, we assure you of prompt service and exceptional features such as the gold part-release facility, flexible tenures, and free insurance.
Apply online or visit your nearest branch with the loan statement from your existing lender. Our team of experts will guide you through the process and ensure a smooth transfer of your loan.
Features and benefits of gold loan balance transfer
All you need to know about our Gold Loan
Watch this video to know everything about our gold loan: Features and benefits, fees and charges, eligibility criteria, documents required, and steps to apply.
-
Part-release facility
You can repay a portion of your loan early and receive some of your gold jewellery back, by using our part release option.
-
No part-prepayment or foreclosure fee
Repay your loan in part or in full, at no extra charge.
-
Transparent evaluation
To ensure that you receive the highest possible value for your gold, we use best-in-class carat metres in each of our branches.
-
Free insurance of gold
Our free insurance of your gold jewellery covers it against theft or loss while it is in our custody.
-
Convenient repayment options
You can choose from multiple repayment options. One option is to pay regular EMIs like any other loan. Alternatively, you can choose to pay just the interest monthly, bi-monthly, quarterly, half-yearly, or annually as per your convenience. The principal must then be repaid at the end of the tenure.
-
Easy application process
You can apply online for a gold loan in minutes. When you visit our branch office to complete the process, we will have everything ready for you.
-
Gold loan of up to Rs. 2 crore
We offer gold loans ranging between Rs. 5,000 up to Rs. 2 crore. Choose the amount that you need from the loan offer.
-
800 branches and growing
We have just opened 60 new branches in India and will keep doing so. We are also opening new branches in the cities where we already do business.
-
A gold loan is a secured loan that lets you use your gold jewellery as collateral to borrow money. You can pay it back easily over a period of up to 12 months.
When you apply to Bajaj Finserv for a gold loan, you receive an offer based on the value of your gold jewellery. You may choose the amount you require or the whole offer value.
We utilise the best available karatmeters to ensure that your jewellery is accurately appraised. Thus, you will obtain the highest possible offer for it. Our comprehensive security systems guarantee the safety of your belongings while they are in our hands.You can use your gold loan to pay for big and small, planned and unplanned expenses.
Still haven’t found what you are looking for? Click on any of the links at the top of this page.
Gold Loan EMI Calculator
Plan your instalments better.
Eligibility criteria and documents required for gold loan transfer
To apply for a gold loan balance transfer from your current lender to Bajaj Finance you need to meet a few simple eligibility parameters. You will be asked to submit a few basic KYC documents to complete the application process.
Eligibility criteria
- Nationality: Indian
- Age: 21 to 70
- Gold purity: 22 karat or higher
Documents required
Any one of the following:
- Aadhaar card
- Voter ID card
- Passport
- Driving licence
PAN card is not required. However, if you apply for a gold loan above Rs. 5 lakh you will be asked to submit your PAN card.
Applicable fees and charges
Types of fee |
Applicable charges |
Interest rate |
9.50% p.a. to 28% p.a. |
Processing fees |
0.12% (Inclusive of applicable taxes) of Loan Amount, Subject to a Minimum of Rs. 99 (Inclusive of applicable taxes) and Maximum of Rs. 600 (Inclusive of applicable taxes) |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount |
Cash handling charges |
NIL |
Penal interest |
3% p.a. on outstanding balance |
Part-prepayment charges |
NIL |
Foreclosure charges* |
NIL |
Auction charges |
Charge for physical notice – Rs. 40 (Inclusive of applicable taxes) per notice |
*Foreclosure charges are zero. However, if you close the loan within 7 days of booking, you have to pay minimum 7 days’ interest.
Frequently asked questions
A gold loan balance transfer is a process where you move your gold loan balance from your current lender to another lender. People often transfer gold loans with the aim of getting a lower interest rate, better repayment terms, or if they are not happy with the service of their current lender.
Transferring a gold loan can offer several benefits, like lower interest rates, free insurance of gold, multiple repayment options, high loan amount per gram of gold, and more. Gold loan balance transfer features can also include improved security, part-release facility and no part-prepayment or foreclosure fee. Overall, gold loan transfer can help borrowers save money and get better loan terms.
To transfer gold loan balance from one lender to another you need to meet a few simple eligibility parameters. You must be an Indian citizen aged between 21 and 70 years, and have your basic KYC documents ready before applying for a transfer. Also, the gold jewellery you pledge must be 22 karats.
A gold loan takeover allows you to transfer your gold loan balance from your current lender to another lender. Transferring your outstanding gold loan allows you to repay the advance at reduced rates, allowing savings on unnecessary interest payments. You can also get benefits like free insurance of gold, part-release facility, multiple repayment options and high loan amount per gram of gold.
Follow the given steps to complete your gold loan balance transfer with Bajaj Finance:
- Check if you meet all eligibility requirements for a balance transfer.
- Next, apply for a gold loan foreclosure with your existing lender.
- Fill out a simple form to apply for a gold loan transfer to Bajaj Finance.
- Submit the minimum necessary documents required to complete the paperwork.
- Obtain pledged gold from the previous lender and deposit it with Bajaj Finance under industry-best vault security.
- Obtain a new loan agreement with low gold loan interest rate and other favourable terms.
- Receive the gold loan amount in your bank account.
- Once received, you can start repaying the advance as per the agreed schedule.