Applying for a gold loan in Bihar with Bajaj Finance is a straightforward and efficient process designed to meet the needs of individuals looking for quick access to funds. You can choose to either visit the nearest Bajaj Finance branch in person or conveniently apply online through the official website or app. This flexibility allows borrowers to select the method that suits their preferences and schedules.
To start the process, you need to visit the nearest Bajaj Finance gold loan branch with your gold jewellery and the required documentation. Once at the branch, a representative will assess your gold’s purity and determine its value based on the prevailing market gold rate. This valuation is crucial in calculating the loan amount that can be offered. After the gold is evaluated, you will undergo a basic KYC (Know Your Customer) verification, ensuring the legitimacy of the transaction.
Once the verification is completed and the loan is approved, you will receive the loan amount swiftly. We ensure a seamless process, providing prompt disbursal of funds. With minimal paperwork and quick processing, a gold loan is an ideal solution for those in need of urgent financial assistance without having to sell their valuable gold jewellery.
By following the steps below and understanding the benefits and requirements, you can
apply for a gold loan in Bihar online 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 Bihar.
Gold loan interest rates in Bihar today
Securing the most competitive interest rates on gold loans in Bihar is crucial for cost-effective borrowing. Gold loans typically offer lower interest rates compared to unsecured loan options, making them a preferred financial solution for many. In Bihar, Bajaj Finance stands out by providing attractive interest rates that cater to residents across different income levels.
The interest rate offered on a gold loan depends on several factors, such as the loan tenure, the amount borrowed, and the purity of the pledged gold. These variables enable borrowers to assess their options and make well-informed financial decisions. By choosing the right lender and understanding these factors, individuals in Bihar can unlock the full potential of their gold assets while ensuring an affordable borrowing experience.
With clear terms and manageable
gold loan interest rates, Bajaj Finance makes gold loans an attractive choice for those needing quick funds in Bihar. This affordability ensures that residents do not face undue financial burden while accessing necessary liquidity. 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.
Gold loan eligibility and documents in Bihar
Bajaj Finance has kept the eligibility criteria for gold loans in Bihar simple and inclusive, making this financing option accessible to a wide range of residents. Anyone who is an Indian citizen aged between 21 to 70 years can apply for a gold loan.
Applying for a gold loan with Bajaj Finance in Bihar requires minimal documentation, ensuring a smooth and efficient process. To simplify the gold loan process, Bajaj Finance in Bihar requires only essential documentation, making it accessible to a broad range of applicants.
To apply, you need to provide one of your basic KYC 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. This streamlined approach makes gold loans easily attainable for Bihar’s residents, even for those without extensive financial paperwork, encouraging broader financial inclusion and support for urgent funding requirements.
Bajaj Finance does not require a high credit score or income proof, making gold loans accessible to a wide range of borrowers. You just have to 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 Bihar, particularly those who may not qualify for other types of loans.
Features and benefits of gold loans in Bihar
Gold loans in Bihar offer various beneficial features tailored to meet different financial needs. The
gold loan features and benefits make them an attractive financial product for residents of Bihar. 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 to Rs. 2 crore with interest rates starting from just 9.50% per annum. Here’s a look at the key features offered under our gold loan:
- Part-release facility: With ourpart 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.
- Easy application process: Apply for a gold loan online. Our customer representative will help you with your application when you visit ourGold Loan branchin your city.
- Gold loan of up to Rs. 2 crore: We offerquick gold loansstarting fromRs. 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 Bihar, ensuring they receive quick access to funds with minimal inconvenience.
Loan amount for gold loans in Bihar
In Bihar, the loan amount for gold loans starts from Rs. 5,000 to Rs. 2 crore. This is primarily determined by the value of the gold pledged and its purity. Bajaj Finance offers gold loans based on the prevailing market gold price, typically valuing gold at its current rate per gram. The loan amount you can secure will be a percentage of the total value of your gold, which is set at 75% by the RBI.
For instance, if you pledge 100 grams of 22K gold, and the current market price of gold is Rs. 5,000 per gram, the total value of your gold would be Rs. 5,00,000. Depending on the lender’s policies, you could be eligible for a loan ranging between Rs. 3,75,000 to Rs. 4,50,000.
The loan amount also depends on the type of gold (e.g., jewellery, coins, or bars) and the lender’s assessment of its quality. Bajaj Finance provides flexible gold loan options with competitive interest rates, offering fast processing and quick disbursal, ensuring that individuals and businesses in Bihar can access much-needed funds promptly. Understanding the current gold rate and the lender's terms helps in making an informed decision regarding the loan amount you can secure.
How to calculate gold loan amount for your gold in Bihar?
A gold loan calculator is a valuable tool for borrowers that offers them an online capability to estimate their loan potential and plan repayments.
The
online gold loan calculator allows borrowers to estimate the amount they can borrow based on the weight and purity of their gold. By entering details such as the weight of the gold, or the loan amount required, borrowers can instantly get an estimated loan amount, gold weight required and the interest to be paid as per the selected tenure. The calculator provides transparency by showing the applicable interest rate, and overall repayment amount, enabling borrowers to make well-informed choices. For those in Bihar looking to secure funds against gold, this calculator simplifies the process, making budgeting and repayment planning more effective.
Repayment options for gold loans in Bihar
Bajaj Finance offers multiple repayment options for gold loans, allowing Bihar residents to choose plans that best fit their financial situations. 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 Bihar manage their financial obligations effectively, ensuring that gold loans remain an attractive choice.
Safety and security of gold collateral in Bihar
The safety of pledged gold is paramount, and Bajaj Finance prioritises it by implementing stringent measures to provide borrowers with complete peace of mind during the loan tenure.
- Borrowers’ gold jewellery is securely stored in high-security vaults equipped with advanced surveillance systems to prevent any unauthorised access.
- Complimentary insurance coverage is offered, safeguarding against potential theft or loss while the gold is in custody.
- Strict privacy protocols are in place to protect customers’ personal and financial information, ensuring confidentiality throughout the process.
- Comprehensive documentation is provided to borrowers, offering transparency and reassurance regarding the safety and handling of their gold.
These robust measures reflect Bajaj Finance’s commitment to maintaining the highest standards of security, enabling borrowers to confidently leverage their gold assets for financial needs.
Why choose Bajaj Finance to avail a gold loan in Bihar?
With Bajaj Finserv Gold Loan, you can get a 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, we ensure the safety of gold collateral through secure storage facilities, making them a trustworthy choice for availing a gold loan in Bihar.
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