Applicable fees and charges
Types of fee |
Applicable charges |
Interest rate |
9.50% p.a. to 28% p.a. |
Processing fees |
Rs. 99 (Inclusive of applicable taxes) |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount |
Cash handling charges |
Rs. 50 (Inclusive of applicable taxes) applicable only for cash mode of disbursement |
Penal interest |
3% p.a. on outstanding balance The penal interest margin/ rate will be over and above the interest rate slab. This shall be applicable/ chargeable in case of default in repayment of the outstanding dues. |
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.
Note that additional cess will be applicable on all charges in accordance with state-specific laws.
The interest rates applicable on gold loans are dynamic and frequently change due to external factors.
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Frequently asked questions
Gold interest can be computed by subtracting the principal amount from the total amount that needs to be paid off. You can easily calculate the amount you need to pay by the end of the gold loan tenor using a reliable gold loan EMI calculator online.
Yes, you can choose to pay only the gold interest rate and settle the principal loan amount at the end of your repayment tenor. Bajaj Finserv offers three gold loan repayment options:
- Pay only interest component monthly, bi-monthly, quarterly, half yearly or yearly and repay the principal amount at the end of the tenor.
- Repay both interest and principal components against the gold loan as affordable EMI.
- Pay the interest at the beginning of the loan tenor and repay the principal amount throughout the loan tenor.
However, it is in your best interest to discuss the available repayment options beforehand to better plan your EMIs or pay-outs against the gold loan at a minimum interest rate.
Like any other financial product, your credit score tends to influence your gold loan eligibility. Having a high credit score over 750 makes you eligible to avail of a loan against gold. It also enhances your chances of securing lucrative terms of service and repayment options, including flexibility in repayment and a low interest rate. Even though individuals without a 750+ credit score can secure a gold loan, they might not be offered various associated perks and benefits.
Multiple factors affect the gold loan interest rate, such as inflation and the market price of gold. In addition, having a CIBIL Score above 720 will also help you get a favourable interest rate on your gold loan of a high value.
Bajaj Finserv offers Gold Loans at nominal charges. Our fees and charges are transparent and kept minimum so that you have to pay less upfront. Our Gold Loan Interest rate starts from 9.50%* p.a. In addition, we charge a processing fee of Rs. 99 of the gold amount. Read more about our other fees and charges
Yes, loan against gold interest rate will vary with the kind of gold jewellery pledged. Bajaj Finserv accepts gold jewellery of only 22 carats and above. The jewellery should not include any precious stones.