Gold loan for agriculture: What you need to know and how it benefits you

Choose our secured gold loan to cover all your farming needs. Get loans starting from Rs. 5,000 up to Rs. 2 crore.
Gold loan for agriculture: What you need to know and how it benefits you
2 min read
21 May 2023

India's economy is based primarily on agriculture, which is why the country prospers. Farming involves a wide range of operations. In advanced farming, a multitude of methods, tools, and techniques are used. Due to their limited resources, the majority of Indian farmers must choose to take out agricultural loans to meet their needs.

As a farmer, you have access to a gold loan for agriculture that can serve various purposes. You can use it for purchasing land, raw materials, investing in machinery, buying seeds, covering farm maintenance costs, handling operational expenses, and more.

Here is what makes gold loans a great option for farmers to meet all their financial needs.

Loan amount

With gold loans, you can obtain significant loan amounts based on the value of your gold assets. With Bajaj Finance, you can get up to 75% of the gold's value as the loan amount. This ensures that you have the necessary funds to cover your agricultural expenses.

Lower interest rates

With gold loans, the loan amount is secured against physical gold jewellery, leading to lower interest rates. These lower gold loan interest rates make it a cost-effective financing option, leading to reduced borrowing costs and significant long-term savings. Bajaj Finance provides loans with competitive agriculture gold interest rates, starting from just 9.50% p.a.

Minimal documentation

Anyone who is an Indian citizen, aged between 21 and 70 years, can apply for a gold loan from Bajaj Finance. Applying for an agricultural gold loan involves minimal documentation. You need to submit just your KYC documents, such as Aadhaar Card, voter ID card, passport, or driving licence. This ensures a faster loan approval process, allowing you to access the funds you need quickly.

No CIBIL Score check

You do not need to worry about your CIBIL Score when applying for a gold loan. These loans are secured by your gold jewellery, eliminating the requirement for a good credit score. As long as your gold meets the required standards, your loan will be approved. This makes gold loans an excellent option, even if you have a low credit score or no credit history at all.

Convenient loan repayment

When you opt for a Bajaj Finserv Gold Loan, you enjoy the flexibility of selecting a repayment tenure. You can choose to pay the complete interest amount at the start of the loan tenure and settle the remaining principal later. Alternatively, you can opt for monthly, quarterly, or yearly interest payments and clear the principal amount at the end of the tenure without any prepayment charges.

Apply for a loan against gold jewellery now.

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