Features and benefits of gold loan in Guntur
Gold loans have become a highly preferred financial option in Guntur, 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 Guntur:
- Part-release facility
With our gold loan 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
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 or misplacement 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 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.
- 1100 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.
How to apply for a gold loan in Guntur?
Here is a step-by-step guide to apply for a gold loan:
- Click on “Apply” to initiate 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 select the nearest gold loan branch.
- Download In-principal loan eligibility letter.
Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.
Eligibility criteria for gold loans in Guntur
Anyone can apply for a gold loan in Guntur for various needs like farming, business, medical emergencies, and more, as long as they meet the basic gold loan eligibility criteria. To get a Bajaj Finserv Gold Loan in Guntur, you need to fulfil a few simple requirements:
- Age: You must be between 21 and 70 years old.
- Citizenship: You should be an Indian citizen.
- Gold purity: Your gold jewellery should have a purity of 18-22 karat.
- Occupation: Salaried individuals, self-employed people, homemakers, and other Indian citizens are eligible.
- Credit score: Since the loan is secured against gold jewellery, a high credit score is not mandatory.
These simple eligibility criteria make it easy for people in Guntur to access gold loans when they need financial assistance.
How to apply for a gold loan in Guntur
Applying for a gold loan in Guntur is straightforward and requires minimal documentation. One of the key benefits is that you only need to submit one valid KYC document to complete your application. This makes the process faster and more convenient. You can choose from the following documents:
- Aadhaar card
- Voter ID card
- Passport
- Driving licence
- NREGA job card
- Letter issued by National Population Registration
While the PAN card is not mandatory for all applicants, it becomes necessary in specific situations. If you are applying for a gold loan of ₹5 lakh or more in Guntur, you will need to submit your PAN card along with your application. This is required by regulatory guidelines to ensure transparency and traceability in high-value financial transactions. The PAN card helps verify your financial history and serves as an extra safeguard for both the borrower and the lender. Thus, while basic KYC documents are sufficient for smaller loan amounts, a PAN card is essential for larger loan applications.
Gold loan interest rates and charges in Guntur
If you are planning to apply for a gold loan in Guntur, it is important to understand the applicable interest rates and charges. Bajaj Finance offers competitive interest rates starting from just 9.50% to 24%* per annum, making it a cost-effective way to address your immediate financial needs without selling your gold.
What makes our gold loan in Guntur stand out is the complete transparency in charges. There are no hidden fees or surprise deductions. All terms and conditions are shared with you upfront, so you know exactly what to expect throughout your loan tenure. The following are the charges applicable to Bajaj Finserv Gold Loan:
Types of fee
|
Applicable charges
|
Interest rate
|
9.50% p.a. to 24% p.a.
|
Processing fees
|
0.15% of the loan amount (inclusive of applicable taxes).
Subject to a minimum Rs. 99 (inclusive of applicable taxes) and maximum of Rs. 600 (inclusive of applicable taxes).
|
Stamp duty (as per respective state)
|
Payable as per state laws and deducted upfront from loan amount
|
Cash handling charges
|
Rs. 50 (inclusive of applicable taxes) applicable for cash disbursement only.
|
Penal charge
|
3% per annum on Outstanding Balance. Penal Charge will be over and above the interest rate which shall be applicable/chargeable in case of default in repayment of the Outstanding Dues post-maturity.
|
| Convenience fee |
Convenience fee of Rs. 149 (inclusive of applicable taxes) shall be levied for part release of ornament(s) pledged. |
Part-prepayment charges
|
NIL
|
Foreclosure charges
|
Nil, any time post disbursement of loan
|
Know all about our gold loan interest rates before applying.
How to calculate gold loan in Guntur?
If you are planning to apply for a gold loan in Guntur, using a gold loan calculator can make the process quicker, clearer, and more convenient. This helpful online tool offers accurate estimates of your loan eligibility based on the weight and purity of your gold. Here is how to use it:
- Enter gold weight or desired loan amount: Input either the weight of your gold jewellery or the amount you wish to borrow.
- Check gold loan purity: Knowing the correct gold loan purity (in carats) is important, as it directly affects the value and amount you can borrow.
- Get an instant loan estimate: Based on current gold rates and the entered details, the calculator will show the approximate loan amount you can avail.
- Understand interest rates and tenure: The tool also helps you view applicable interest rates and loan duration options, enabling smarter financial planning.
By using the gold loan calculator, you get a realistic idea of what to expect, making your application for a gold loan in Guntur simple and stress-free. It ensures transparency and helps you take informed steps with confidence.
Why choose Bajaj Finance to avail a gold loan in Guntur?
If you are looking for a quick and secure way to access funds in Guntur, Bajaj Finserv Gold Loan provides a smooth, flexible option with maximum value for your gold.
- Quick application process: Enjoy a hassle-free experience with minimal steps and instant processing.
- Minimal documentation: Submit just one KYC document to get started, making it simple and efficient.
- Fast loan approval: Get access to funds quickly, ideal for emergencies or urgent financial needs.
- Flexible repayment options: Choose from various interest repayment plans—monthly, bi-monthly, quarterly, half- yearly or annually.
- Transparent terms: No hidden charges. All terms and conditions are clearly explained upfront.
- Secure and trusted: Your pledged gold remains safe, insured, and handled with complete care.
- Customer-focused support: Experience smooth service with dedicated assistance at every step.
Bajaj Finance ensures trust, safety, and transparency, making it a reliable choice for obtaining a gold loan in Guntur.
Why is gold loan a feasible borrowing option in Guntur?
Amidst this backdrop, gold loans have emerged as a popular and convenient financial solution for the people of Guntur. With the flexibility and ease, gold loan in need of money has become a go-to option for individuals seeking easy access to funds without parting with ownership of their valuable jewellery.
So, if you are looking for quick funds, 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.
Ways to repay your gold loan in Guntur
At Bajaj Finance, we understand that different financial needs require different repayment solutions. That is why we offer a range of convenient repayment options for your gold loan. Here are the details for interest repayment:
- Monthly payments: You can choose to pay your interest on a monthly basis.
- Bi-monthly payments: Opt for paying interest every two months.
- Quarterly payments: Pay interest every three months if this suits your financial planning.
- Half-yearly payments: Choose to pay interest twice a year for added flexibility.
- Annual payments: For those who prefer a longer interval, annual payments are also available.
While you have flexibility with interest payments, the principal amount along with any pending interest must be paid at the time of loan maturity. These flexible repayment options ensure you can tailor your gold loan repayment to your convenience, making it easier to manage your finances while still meeting your personal or business requirements. Whether you need more frequent payments or prefer to pay later, Bajaj Finance allows you to choose the option that fits your lifestyle.
Know more about gold loans in Indian states and Union Territories
Know more about gold loan in other cities
Visit the nearest Bajaj Finserv Gold Loan branch in your city.
