Gold loans have become a highly preferred financial option in Maharashtra, 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 Maharashtra:
- 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 Maharashtra 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 Maharashtra, ensuring they receive quick access to funds with minimal inconvenience.
How to apply for a gold loan in Maharashtra?
Here is a step-by-step guide to apply for a gold loan in Maharashtra:
- 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 to avail gold loans in Maharashtra
To qualify for a gold loan in Maharashtra, 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 Maharashtra
To apply for a gold loan in Maharashtra, 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 Maharashtra
If you are considering applying for a gold loan in Maharashtra, it is essential to understand the interest rates and charges involved. Bajaj Finance offers competitive interest rates ranging from just 9.50% up to 24%* per annum, making it an affordable option to meet your immediate financial needs without selling your gold.
What sets our gold loan in Maharashtra apart is the complete transparency in all charges. There are no hidden fees or unexpected deductions. All terms and conditions are clearly explained to you from the start, so you will know exactly what to expect throughout the duration of your loan. The following are the charges applicable to Bajaj Finserv Gold Loan:
Types of fee
|
Applicable charges
|
Interest rate
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9.50% p.a. to 24% p.a.
|
Processing fees
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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).
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Stamp duty (as per respective state)
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Payable as per state laws and deducted upfront from loan amount
|
Cash handling charges
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Rs. 50 (inclusive of applicable taxes) applicable for cash disbursement only.
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Penal charge
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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
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NIL
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Foreclosure charges
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Nil, any time post disbursement of loan
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How to calculate gold loan in Maharashtra
If you are thinking about applying for a gold loan in Maharashtra, using a gold loan calculator can make the process easier, faster, and clearer. This online tool helps you estimate your loan eligibility based on the weight and purity of your gold. Here’s how to use it:
- Enter gold weight or desired loan amount: You can input either the weight of your gold jewellery or the loan amount you need.
- Check gold loan purity: The gold loan purity (measured in carats) is important as it determines the value and loan amount you can borrow.
- Get an instant loan estimate: The calculator provides an estimate of the loan you can get based on the current gold rates and your inputs.
- Review interest rates and loan tenure: It shows the interest rates and loan duration options, helping you make informed financial decisions.
Using the gold loan calculator for a gold loan in Maharashtra ensures you understand the loan details and simplifies the application process. It provides transparency and helps you approach your loan with confidence.
Why choose Bajaj Finance to avail a gold loan in Maharashtra?
If you want a quick and safe way to get money in Maharashtra, Bajaj Finance Gold Loan is a simple and helpful choice. It gives you good value for your gold and is easy to use. Here is why:
- Easy process: You can apply quickly with just a few simple steps.
- Less paperwork: Only one KYC document is needed to get started.
- Quick approval: You get the money fast, which helps during urgent times.
- Flexible payments: Pay interest monthly, every two months, every three months, every six months or once a year – as you prefer.
- Clear terms: No hidden fees. Everything is shared clearly with you.
- Safe and secure: Your gold is kept safely, fully insured, and handled with care.
- Helpful support: You will get full help at every step of the process.
This makes Bajaj Finance Gold Loan in Maharashtra a smart, trusted, and easy way to meet your financial needs.
Why is gold loan a feasible borrowing mode in Maharashtra?
Firstly, due to the cultural importance of gold, many households in Maharashtra possess substantial gold assets. This makes it easy for individuals to leverage their gold jewellery to secure loans without having to sell their precious ornaments. Gold loans offer a swift and straightforward application process, allowing borrowers to access funds quickly. This is particularly beneficial in times of financial emergencies or urgent needs.
Additionally, the process of obtaining a gold loan requires minimal documentation compared to other types of loans. Borrowers typically need to provide basic identification and address proof, making it a hassle-free option. Gold loans generally have lower interest rates compared to unsecured loans, making them a cost-effective borrowing option. The lower interest rates reduce the overall cost of borrowing, making it easier for borrowers to manage repayments.
Moreover, gold loans offer flexible repayment options, allowing borrowers to choose a repayment schedule that suits their financial situation. This flexibility helps in managing finances more effectively. The gold pledged as collateral is securely stored by the lender, providing peace of mind to borrowers. The gold is insured against theft or loss, adding an extra layer of security.
Know more about gold loan in Indian states and Union Territories
Gold loan in other cities
