Availing of a gold loan or a loan against gold is one of the easiest and fastest ways to raise funds and fulfil any personal or business requirements. This secured financing option is available against competitive interest rates and simplified terms, making it convenient for borrowers.
To avail of this loan, individuals need to pledge their gold ornaments and fulfil a few simple gold loan eligibility criteria. Since the funds are available against the value of the gold pledged, gold loans do not impose any stringent eligibility requirements.
The funds under this financing option can be availed even by those who fail to maintain a high CIBIL score. Owing to the high equity of the asset pledged, individuals can enjoy simplified borrowing terms and finance their requirements instantly.
The gold loan eligibility requirements are as follows -
Even though the eligibility to avail a gold loan depends on these above criteria, the amount an individual can avail also depends on the Loan to Value ratio offered. On meeting these above eligibility requirements, individuals can avail the maximum LTV against the value of their gold.
Individuals must also submit a few documents to avail a gold loan.
Submit only KYC to establish repayment capacity and enjoy instant approval for this secured loan from Bajaj Finserv.
Following are document requirements for a gold loan –
Individuals may need to present income proof later along with necessary gold loan documents if the need arises. It is crucial to take note of the complete list of documents required to facilitate ease of approval.
The process to check gold loan eligibility is simple and hassle-free. Irrespective of the profession, individuals can qualify for this loan if they possess sufficient gold assets to seek an advance against them.
Besides eligibility criteria and documentation, also consider the purity of gold before applying. As per gold loan requirements, we accept gold articles of 18 carats to 24 carats after measuring the weight. Individuals can utilise a gold loan eligibility calculator to calculate the amount they can avail of before applying.
Note: This loan is available only against gold jewellery. Gold bars or coins are not accepted as viable collaterals for loan disbursal.