In Bhavnagar, gold loan interest rates are a crucial factor for borrowers seeking affordable financing. Bajaj Finserv Gold Loan offers competitive rates, starting from as low as 9.50% per annum, depending on factors like the loan-to-value (LTV) ratio, repayment tenure, and your financial profile.
With Bajaj Finance, borrowers can enjoy several benefits, including multiple repayment tenures ranging up to 12 months and a high LTV ratio of up to 75%, which maximises the loan amount based on your gold's value. The quick disbursal process ensures that funds are available promptly, supporting immediate financial needs.
By choosing Bajaj Finserv for your gold loan in Bhavnagar, you access a transparent, customer-focused service with tailored financial solutions. Thoroughly exploring these options ensures that you secure the most favourable rates and manage your financial commitments effectively.
Features and benefits of gold loans in Bhavnagar
Gold loans come with numerous features that make them an attractive financing option. Understanding these benefits helps borrowers in Bhavnagar make informed decisions when choosing Bajaj Finance for their financial needs.
If you are looking for fast access to funds, the Bajaj Finserv Gold Loan offers a hassle-free solution. You can borrow from Rs. 5,000 up to Rs. 2 crore with interest rates starting from 9.50% to 24% per annum. Here’s a look at the key features:
- Part-release facility
With our part release facility, you can repay a part of your loan and take part of your gold jewellery 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
To ensure you get the best value for your gold, we use top-quality karat metres in all our branches.
- Free insurance of gold
Our free insurance covers against theft or loss of your gold jewellery while it is in our custody.
- Convenient repayment options
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, if any, will be due for payment at the time of loan maturity. The repayment tenure can range from 1 day to 12 months.
- 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 quick 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.
- Gold loan renewal
Borrowers may renew their gold loan at the end of loan tenure, subject to LTV being as per regulatory norms. A fresh credit appraisal will be done by us prior to renewal. However, renewal post actual loan maturity date is restricted.
- Gold loan top-up
You can apply for a top-up on your existing gold loan before its maturity, as long as the loan-to-value (LTV) remains within regulatory limits and a fresh credit assessment is completed by us. However, if your loan has passed its maturity date but is still active due to outstanding dues, a top-up is not allowed.
These features and benefits make gold loans an efficient and advantageous financial solution for residents of Bhavnagar, ensuring they receive quick access to funds with minimal inconvenience.
How to apply for a gold loan in Bhavnagar?
Applying for a gold loan in Bhavnagar through Bajaj Finance is a quick and simple process. Borrowers can either visit a local branch or apply online. Borrowers need to visit the nearest branch gold loan with their gold and required documents. Bajaj Finance will evaluate the gold based on its purity and prevailing gold rate to determine the loan amount. After the valuation, basic KYC verification is done, and once approved, the borrower receives the loan amount.
By following the steps below and understanding the benefits and requirements, you can efficiently secure a gold loan in Bhavnagar to meet your financial needs.
- Click on ‘APPLY’ to open our online application form.
- Enter your 10-digit mobile number and click on ‘GET OTP.’
- Submit the OTP to verify your identity.
- Select your state and city to find the branch nearest to you.
- Enter your full name and date of birth as per your PAN.
- 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.
This convenience and efficiency make gold loans an accessible financial product in Bhavnagar.
Eligibility criteria for gold loans in Bhavnagar
The eligibility criteria for gold loans in Bhavnagar are straightforward, making them accessible to a wide range of people. Bajaj Finance does not require a high credit score or income proof, making gold loans accessible to a wide range of borrowers. The eligibility criteria for gold loans in Bhavnagar are straightforward, making this form of financing easily accessible. You just have to be between 21 to 70 years of age and own 18-22 karat worth of gold jewellery to pledge as collateral. There are no specific restrictions based on employment status, so salaried individuals, business owners, and even self-employed persons can apply. Since the gold serves as security, lenders do not place a heavy emphasis on the borrower’s credit score or income level. This simplicity makes gold loans a viable option for people from various economic backgrounds in Bhavnagar, particularly those who may not qualify for other types of loans.
Documents required for gold loan application in Bhavnagar
Applying for a gold loan is straightforward, with minimal documentation needed. This simplicity allows borrowers in Bhavnagar to access funds quickly through Bajaj Finance.
To apply for a gold loan in Bhavnagar, 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
Though PAN card is not a mandatory document, in loans ₹ 5 lakh you are required to share the PAN card details.
How to calculate gold loan in Bhavnagar?
Understanding how much you can borrow is the first step before applying for a gold loan. Bajaj Finance offers a user-friendly gold loan calculator that helps borrowers in Bhavnagar and across India estimate their loan amount quickly and accurately. This tool calculates the loan value based on key factors like the weight of your gold, its purity, and the current market rate.
To use the calculator, simply enter the gold weight and choose the applicable gold loan purity level. The tool instantly displays the eligible loan amount and interest based on your selected tenure. It helps plan your EMIs in advance and gives a clear picture of your repayment commitment.
The gold loan calculator simplifies the borrowing process and ensures complete transparency, helping you make an informed decision. It is a smart way to understand your loan eligibility and manage your finances confidently with Bajaj Finance.
Repayment options for gold loans in Bhavnagar
Gold loans in Bhavnagar come with multiple repayment options, allowing you to choose a plan that best suits your financial situation. You can opt for a repayment tenure on a monthly, bi-monthly, quarterly, half-yearly or annual basis. It is important to note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity. Alternatively, you can also prepay or foreclose the loan with no additional charges. These varied options help borrowers in Bhavnagar manage their financial obligations effectively, ensuring that gold loans remain an attractive choice.
Safety and security of gold collateral in Bhavnagar
The security of pledged gold is a top priority. Bajaj Finance ensures that borrowers' gold assets are stored safely, providing peace of mind throughout the loan period.
- Gold is kept in high-security vaults with advanced surveillance.
- Complementary insurance policies protect against theft or loss.
- Privacy protocols ensure customer information remains confidential.
- Detailed documentation assures borrowers of their gold's safety.
Why choose Bajaj Finance to avail a gold loan in Bhavnagar?
With Bajaj Finserv Gold Loan, you can get loan starting from Rs. 5,000 to Rs. 2 crore, competitive interest rates, quick processing, free insurance of gold and much more. We offer a high loan-to-value ratio, ensuring that you can get the maximise value as loan to manage your expenses easily. The loan comes with an easy application process, minimal documentation and easy eligibility criteria. You can choose to repay your loan interest on monthly, bi-monthly, quarterly, half-yearly or annual basis, as per your financial situation. With free insurance cover for the pledged gold jewellery and secure storage facilities, you can rest assured that your gold is safe. Additionally, they ensure the safety of gold collateral through secure storage facilities, making them a trustworthy choice for availing a gold loan in Bhavnagar.
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