Features and Benefits of gold loans in Goa
gold loans have become a popular and convenient financial choice for the people of Goa. Our gold loan enables you to handle all your planned and unplanned expenses with great ease, providing several benefits. Here are the key features of our gold loan:
- Gold loan of up to Rs. 2 crore: Bajaj Finance offers gold loans from Rs. 5,000 up to Rs. 2 crore, subject to eligibility and applicable terms. You can choose the loan amount based on your financial requirement and the assessed value of your eligible gold.
- Transparent evaluation: Your eligible gold is assessed based on its purity and net weight. Karat metres are used at branches to check gold purity during the evaluation process.
- Convenient repayment options: Choose a repayment structure based on your financial needs. Under the applicable repayment options, interest is paid as per the repayment schedule, while the principal and any pending interest are due at maturity.
- No part-prepayment or foreclosure fee*: You can repay part or all of your loan before maturity without applicable part-prepayment or foreclosure fees, subject to the terms of your loan.
- Part-release facility: With the gold loan part-release facility, you may repay part of your loan and take back a corresponding portion of your pledged gold before the loan tenure ends, subject to applicable terms.
- Multiple repayment options: Choose between two repayment methods. Under bullet repayment, both the principal and interest due are paid at maturity. Under regular repayment, interest is paid at half-yearly intervals as per the repayment schedule, while the principal is paid at maturity.
- Free insurance of gold: Your pledged gold remains insured against specified risks, including theft, burgalry, fire at branch, or loss, while it is in the lender's custody, subject to applicable terms.
- Easy application process: You can start your gold loan application online and visit a Bajaj Finance Gold Loan branch with your eligible gold and required KYC documents to complete the process.
- 1400 branches and growing: Bajaj Finance has a growing branch network across India, making it easier to access gold loan services at a branch in your city.
These features make gold loans a convenient way to meet planned or unexpected financial needs while keeping your eligible gold securely pledged.
Documents required to get gold loans in Goa
To complete the application, you need to provide one of the listed KYC documents for gold loan:
- Aadhaar card
- Voter ID card
- Passport
- Driving licence
- NREGA job card
- Letter issued by National Population Registration
How to calculate gold loan in Goa?
The gold loan calculator helps you estimate the amount you may be able to borrow against your eligible gold.
- Enter your loan requirement: Add the approximate amount you wish to borrow.
- Add gold details: Enter the estimated purity and weight of your eligible gold.
- Select the tenure: Choose the applicable loan tenure.
- Review the estimate: Check the indicative loan amount and interest payable.
The calculator provides an indicative estimate. The final loan amount is determined after physical evaluation of your gold, applicable valuation and LTV limits.
Pro tip: Want to know whether you can apply? Check your gold loan eligibility before visiting a branch.
How is the value of gold determined for a gold loan in Goa?
The value of your eligible gold depends on its purity, net weight and the applicable gold price benchmark.
During the gold evaluation, your gold is assessed in your presence for purity and net weight. To evaluate gold's value, Bajaj Finance considers the lower of the previous day's closing price or the 30-day average closing price for the relevant purity, as published by IBJA or a SEBI-regulated commodity exchange. Only the intrinsic value of eligible gold is considered, excluding stones, gems and other embellishments.
The maximum LTV applicable to your gold loan depends on the loan amount and applicable terms. Know more about LTV for gold loans.
Repayment options for gold loans in Goa
Your repayment method determines when you pay the interest and principal during the loan tenure.
- Bullet repayment: Both the principal and interest due are paid at maturity.
- Regular repayment: Interest is paid at half-yearly intervals as per the repayment schedule, while the principal is paid at maturity.
- Part-prepayment: You can repay part of the outstanding loan before maturity, subject to applicable terms.
- Foreclosure: You can close the loan before maturity without applicable foreclosure charges, subject to the terms of your loan.
Understanding the repayment structure can help you choose an option that suits your financial requirements.
Safety and security of gold collateral in Goa
Your pledged gold remains in the lender's custody throughout the loan tenure. It is stored in secure vaults with 24x7 surveillance and remains insured against specified risks, including theft, burglary, fire at the branch and misplacement, while it is in Bajaj Finance's custody, subject to applicable terms.
The gold evaluation is carried out in your presence, with details such as purity and net weight recorded during the assessment. If the release of your pledged gold is delayed due to the lender's fault, compensation of ₹5,000 per day may apply as per the applicable process and terms.
Why choose Bajaj Finance to avail a gold loan in Goa?
A gold loan in Goa allows you to raise funds against eligible gold without selling it. Bajaj Finance provides a structured process covering gold evaluation, loan assessment, repayment and collateral release.
- Retain ownership: Pledge eligible gold jewellery, ornaments or coins while retaining ownership of your gold.
- Understand the valuation: Your gold is assessed in your presence for purity and net weight.
- Borrow against assessed value: The eligible loan amount depends on the assessed value of your gold and applicable LTV limits.
- Choose a repayment method: Select bullet repayment or regular repayment, as applicable to your loan.
- Use part-release: Repay part of your loan and release a corresponding portion of your pledged gold before maturity, subject to applicable terms.
- Keep your gold protected: Your pledged gold is stored securely and insured against specified risks while in Bajaj Finance's custody, subject to applicable terms.
- Apply online or at a branch: Start your gold loan application online or visit a Bajaj Finance Gold Loan branch with your eligible gold and required KYC documents.
Before applying for a gold loan in Goa, you can use the calculator to estimate your loan requirement and check your eligibility based on the applicable terms.
Quick tip: Thinking of applying for a gold loan? Start with a simple step—check your gold loan eligibility today.
Know more about gold Loan in Indian states and Union Territories
Know about gold loan in other cities
