How to apply for a gold loan
Applying for a gold loan online with Bajaj Finance is simple and straightforward:
- Click on “Apply” to start your online application
- Enter your 10-digit mobile number and click on “Get OTP”
- Submit the OTP to verify your identity
- Fill in your personal details and choose the nearest gold loan branch
- Download the in-principle loan eligibility letter
Once done, you will receive a call from our representative and guide you on the next steps.
Gold loan vs personal loan for medical expenses
When a medical emergency strikes, arranging funds quickly becomes the top priority. Many people wonder whether to take a gold loan or a personal loan. If you have gold jewellery, ornaments or coins at home, a gold loan can be a quicker and simpler option. You just need to pledge your gold, and the money is disbursed almost instantly. It also comes with minimal paperwork and no need for a high credit score.
On the other hand, a personal loan might take more time, especially if your credit history is not strong. The interest rates for personal loans are usually higher than gold loans.
With a gold loan, your gold stays safe in a secure vault and is returned once you repay the loan. It is a stress-free way to get funds without selling anything. For urgent medical expenses, a gold loan often proves to be faster, easier, and more pocket-friendly.
Curious about your loan eligibility? Enter your mobile number to see how much you can get for your gold.
Features of a gold loan
Here are the key benefits of Bajaj Finance Gold Loan:
Part-release facility
With our gold loan part release facility, you can repay a part of your loan and take part of your gold back before the end of your loan tenure.
No part-prepayment or foreclosure fee*
Repay a part of your loan in advance or pay the entire amount at no extra cost.
Transparent evaluation
We use best-in-class karat meters across all our branches to make sure you get the most value for your gold.
Free insurance of gold
Our free insurance covers against theft, burglary, fire at branch or misplacement of your gold while it is in our custody.
Convenient repayment options
We offer multiple gold loan repayment options where you may choose to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis as per your convenience. Please note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity. The repayment tenure can range from 1 day to 12 months for interest servicing and up to 60 months for EMI servicing.
Easy application process
Apply for a gold loan online. Our representative will help you with your application when you visit our gold loan branch in your city.
Gold loan of up to Rs. 2 crore
We offer instant gold loans starting from Rs. 5,000 up to Rs. 2 crore. You can choose the amount that suits you best from the offer extended to you.
1400 branches and growing
We have recently opened 60 new branches and are adding more across India. We are also opening new branches in the cities that we operate in.
Gold loan renewal
You can request a renewal of your gold loan before its maturity date, provided your loan is in standard status and within the permissible LTV limit. This facility is available only to existing gold loan customers. For bullet repayment loans, any accrued interest must be cleared before renewal. Renewals are subject to credit checks, and all approvals are properly recorded in BFL’s Core Banking or Loan Processing System, with fresh fees or charges applicable. Please note that gold loans cannot be renewed after the maturity date.
Gold loan top-up
You can request a top-up on your existing gold loan before maturity, subject to credit assessment, LTV limits, and standard status. All approvals are recorded in BFL’s core systems. Top-ups are not allowed if the loan has passed its maturity date, even if dues remain outstanding. Only our existing gold loan customers can avail this facility.
Apply in minutes. Money in account instantly with a Bajaj Finance Gold Loan*
