Gold Loan in Aurangabad

Know everything you need to know about gold loan in Aurangabad
Gold Loan
2 mins
06 June 2024

In Aurangabad, gold carries profound cultural significance, representing prosperity, tradition, and elegance. This appreciation for gold becomes especially apparent during weddings and festivals, where elaborate gold jewellery adorns both men and women, showcasing the city's rich craftsmanship and artistic heritage.

Get a gold loan in Aurangabad from Bajaj Finance and manage various financial requirements with ease. Get a gold loan per gram at competitive interest rates, multiple repayment options, and more.

Why is gold loan a feasible borrowing mode in Aurangabad?

Availing a gold loan in Aurangabad is a popular choice for many residents seeking quick and hassle-free financial assistance. These loans offer flexibility and convenience, allowing individuals to leverage their gold assets without relinquishing ownership. With transparent terms and minimal documentation requirements, gold loans in Aurangabad provide a convenient solution for meeting various financial needs, from emergency expenses to investment opportunities.

So, if you are looking for quick funds, the Bajaj Finserv Gold Loan offers you an easy and hassle-free option. You can avail funds starting from Rs. 5,000 up to Rs. 2 crore with interest rates starting at just 9.50% p.a. With our gold loan, you can meet all your planned and unplanned expenses with great ease. Our gold loan offers several benefits.

Features and benefits of gold loan in Aurangabad

Gold loans have become a highly preferred financial option in Aurangabad, providing a combination of flexibility and convenience for those needing immediate funds while retaining ownership of their valuable jewellery. Here are the key features and benefits of gold loans in Aurangabad:

  • Partial release facility: Borrowers have the option to repay a portion of their loan and retrieve some of their gold jewellery before the end of the loan term, offering greater financial management flexibility.
  • No prepayment or foreclosure Charges: Gold loans in Aurangabad do not have any charges for prepayment or foreclosure, allowing borrowers to repay their loans early without extra costs, thus reducing their overall interest expenses.
  • Accurate gold evaluation: Advanced karat meters ensure precise and fair assessment of the gold's purity, guaranteeing that borrowers receive the best possible value for their gold.
  • Complimentary gold insurance: Gold loans include free insurance coverage against theft or loss of the gold while in the lender's custody, providing borrowers with added security and peace of mind.
  • Multiple repayment options: Borrowers can select from various repayment plans, including monthly, bi-monthly, quarterly, half-yearly, or annual interest payments, with the principal amount due at the end of the loan term.
  • Simplified application process: The application process for gold loans is easy and hassle-free, with options to apply online and assistance from customer representatives at local branches.
  • Easy application process: Apply for a gold loan online. Our customer 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 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.
  • 800 branches and growing:We have just opened 60 new branches and are adding more all over India. Additionally, we are opening new branches in the cities where we already have operations.

These features and benefits make gold loans an efficient and advantageous financial solution for residents of Aurangabad, ensuring they receive quick access to funds with minimal inconvenience.

Eligibility criteria to avail gold loans in Aurangabad

Anyone can apply for a gold loan, as long as they meet the basic gold loan eligibility criteria. You just need to be an Indian citizen between the ages of 21 years to 70 years. You need to submit any one of the following KYC documents to complete your application process:

To qualify for a gold loan in Aurangabad, applicants must meet the following criteria:

  • Age: The applicant should be between 21 to 70 years of age.
  • Purity of gold: Gold jewellery or ornaments should have a purity of 18-22 karat.
  • Income proof: Generally not required, but some lenders may ask for proof of income.
  • Residential status: Applicants must be a resident of India.

Documents required to get gold loans in Aurangabad

To apply for a gold loan in Aurangabad, you need to provide one of the following identification and verification documents:

  • Aadhaar Card
  • Voter ID Card
  • Passport
  • Driving Licence
  • NREGA Job Card
  • Letter Issued by National Population Registration

Gold loan interest rates and charges in Aurangabad

The gold loan interest rate in Aurangabad represents the cost of borrowing against your gold jewellery. With Bajaj Finance, you can avail of a gold loan at interest rates starting at 9.50% per annum, ensuring a cost-effective and flexible solution to meet your financial needs.

A gold loan can be a valuable financial tool in times of need. However, it is essential to consider certain factors that can impact your borrowing experience.

  • Market conditions: Fluctuations in market demand can impact interest rates as well as the value of the gold loan per gram.
  • Gold rates: The market rate of gold also affects the interest rates on gold loans, as they directly impact the value of the gold jewellery offered as collateral.
  • Repayment frequency: The frequency of the interest payments on your gold loan also impacts the interest rate.

Gold loan calculator in Aurangabad

A gold loan calculator helps you estimate the loan amount you can avail against your gold. By inputting details such as the weight and purity of your gold, along with the current market price, the calculator provides an estimate of the loan amount. Additionally, it can help you calculate the EMI (Equated Monthly Instalment) based on the loan tenure and interest rate. This tool is useful for planning your finances and ensuring that you can comfortably manage loan repayments.

Why choose Bajaj Finance to avail a gold loan in Aurangabad?

Bajaj Finance offers several advantages for availing a gold loan in Aurangabad. They ensure quick disbursement, often within a few hours, providing immediate access to funds. Their interest rates are competitive, and they offer flexible repayment options tailored to your financial needs. Bajaj Finance also provides a high loan-to-value ratio, allowing you to secure a substantial loan amount against your gold. Additionally, their transparent process with minimal documentation makes it convenient and hassle-free for borrowers. Choosing Bajaj Finance means opting for reliability, efficiency, and customer-centric services.

How to apply for a gold loan in Aurangabad?

By following the steps below and understanding the benefits and requirements, you can efficiently secure a gold loan in Aurangabad to meet your financial needs.

  1. Click on ‘APPLY’ to open our online application form.
  2. Enter your 10-digit mobile number and click on ‘GET OTP.’
  3. Submit the OTP to verify your identity.
  4. Select your state and city to find the branch nearest to you.
  5. Enter your full name and date of birth as per your PAN.
  6. Set up your appointment at our branch.

Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.

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Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

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Frequently asked questions

What is the minimum loan amount I can get against gold in Aurangabad?

With Bajaj Finance, you can a minimum of Rs. 5,000 as a loan against gold.

What is the maximum tenure of a Gold Loan in Aurangabad?

With us, you can get a maximum gold loan tenure of up to 12 months.

Can I get a gold loan from the Aurangabad branch without a residential proof?

No, if the customer's current city differs from their permanent address, presenting current address proof becomes mandatory to access a gold loan, alongside proof of identity.

Acceptable documents for "Current address proof" include:

  1. Utility bills (issued within the last two months) from service providers such as electricity, telephone, post-paid mobile phone, piped gas, or water bills.
  2. Pension or family pension payment orders (PPOs) issued by Government Departments or Public Sector Undertakings (PSUs) if they feature the address.
  3. Property or municipal tax receipts.
  4. Letters of accommodation allotment from employers issued by State/Central Government Departments, statutory or regulatory bodies, PSUs, scheduled commercial banks, financial institutions, and listed companies, as well as leave and license agreements with such employers for official accommodation.

Accepted documents for "Permanent address proof" include Aadhar Card, Passport, Driving License, Voter Card, Letters issued by the National Population Register, and NREGA job cards.

Can I pay gold loan interest online in Aurangabad?

Yes, you can pay your gold loan interest online in Aurangabad.

Can I avail EMI facility on a gold loan in my city, Aurangabad and if so, how?

No, you do not have the EMI facility on a gold loan. Though can you choose to pay your gold loan interest on a monthly, bi-monthly, quarterly, half-yearly, or annually, as per your convenience.

How can I check gold loan status in Aurangabad?

To check the status of your gold loan just visit the nearest gold loan branch or simply sign-in to ‘My Account’ on Bajaj Finserv website or app.

How can I repay my gold loan faster in Aurangabad?

We offer multiple 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 for your loan against gold, if any, will be due for payment at the time of loan maturity. 

Are there any extra charges applicable against gold loan foreclosure in Aurangabad?

You can repay a part of your loan in advance or pay the entire amount at no extra cost. Though, in case you close the loan within 7 days of booking, minimum 7 days interest is charged.

How safe are my gold ornaments with Bajaj Finance in Aurangabad?

Our free insurance covers against theft or misplacement of your gold jewellery while it is in our custody.

What are the different schemes available for Gold Loan in Aurangabad?

Some of the most popular government gold loan schemes are: Sovereign gold bond scheme, gold monetisation scheme, gold metal loan scheme, revamped gold deposit scheme, gold coin and bullion scheme.

How to get a gold loan in Aurangabad?

Getting a loan against your gold jewellery is one of the easiest ways to meet any unplanned expense. To get a gold loan from Bajaj Finance, you can apply online, and we will call you and guide you on the next steps or you could simply visit the nearest gold loan branch in your city. To apply for an online gold loan, you need to follow the below mentioned steps:

  1. Click on ‘APPLY’ to open our online application form

  2. Enter your 10-digit mobile number and click on ‘GET OTP’

  3. Submit the OTP to verify your identity

  4. Select your state and city to find the branch nearest to you

  5. Enter your full name and date of birth as per your PAN

  6. Set up your appointment at our branch

Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.

When should you apply for a gold loan in Aurangabad?

You should apply for a gold loan when you need money for your planned or unplanned expenses. A gold loan is a form of a secured loan. It may be a good option if you already have an ongoing loan. You can apply for one by pledging the gold jewellery you may have at your home.

Walk into the nearest Bajaj Finserv Gold Loan Branch in your city. You can also start by completing the simple application form on the Bajaj Finserv website.

Can you get a gold loan on jewellery in Aurangabad?

Yes, you can get a loan against gold jewellery at an attractive interest rate. Bajaj Finserv gold loan interest rates start from 9.50% p.a. onwards. To get a loan against gold, click on the ‘APPLY’ option on the top of this page. You could also walk into the nearest Bajaj Finserv Gold Loan branch in your city.

How do fluctuations in gold prices impact your gold loan in Aurangabad?

Fluctuations in gold prices directly influence your gold loan value. As the gold price changes, so does the collateral's worth, affecting the loan amount. It's essential to monitor the gold rate to understand these variations and make informed decisions about your gold loan, ensuring financial stability.

What KYC Documents are required for a gold loan in Aurangabad?

To apply for a gold loan in Aurangabad, you need to provide KYC documents such as proof of identity (Aadhaar card, PAN card, passport) and proof of address (utility bill, ration card, voter ID).

What are the benefits of taking a gold loan in Aurangabad?

The benefits of taking a gold loan in Aurangabad include quick processing, minimal documentation, lower interest rates, and flexible repayment options.

What is a gold loan?

A gold loan is a secured loan where you pledge your gold jewellery as collateral to borrow funds.

How much loan can I get for 1 gram gold in Aurangabad?

The loan amount for 1 gram of gold in Aurangabad depends on the current market value and the lender's loan-to-value (LTV) ratio, typically around 70-80%.

What is the interest of a 1 lakh gold loan in Aurangabad?

The interest rate for a 1 lakh gold loan in Aurangabad varies by lender, generally ranging from 7% to 15% per annum. Check with local lenders for precise rates.

What is the gold loan interest rate in Aurangabad?

The gold loan interest rate in Aurangabad varies by lender, typically between 7% and 15% per annum.

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