Gold Loan in Mumbai

Here’s a comprehensive guide on the benefits, and process apply for a gold loan in Mumbai.
Gold Loan in Mumbai
2 min read
08 February 2024

In Mumbai, gold carries profound cultural significance, symbolising prosperity, tradition, and elegance. This appreciation for gold becomes especially apparent during weddings and festivals, where elaborate gold jewellery adorns both men and women, showcasing the city's rich craftsmanship and artistic heritage. As India's bustling financial capital, Mumbai's vibrant culture and diverse communities further accentuate its deep-rooted affinity for gold

Get a gold loan in Mumbai from Bajaj Finance and manage various financial requirements with ease. Get a gold loan per gram at competitive interest rates, multiple repayment options, and more.

Why is gold loan a feasible borrowing mode in Mumbai?

Gold loans are a feasible borrowing mode in Mumbai for several reasons. Firstly, many residents in Mumbai own gold, making gold loans an accessible option. The loan process is straightforward, requiring minimal documentation and providing quick disbursal, often within a few hours. This speed is especially beneficial for urgent financial needs.

Additionally, gold loans are secured loans, resulting in lower interest rates compared to unsecured loans, making them more affordable. The flexible repayment options allow borrowers to choose plans that best suit their financial situation, reducing the risk of default.

Furthermore, gold loans do not heavily rely on the borrower’s credit score, making them accessible to individuals with varying credit histories. This inclusivity ensures that a broader segment of the population can benefit from this financial product. Institutions like Bajaj Finserv offer competitive gold loan rates, further enhancing the appeal of gold loans in Mumbai.

Overall, the combination of accessibility, affordability, and flexibility makes gold loans a practical and attractive borrowing option for the residents of Mumbai.

Features and benefits of gold loan in Mumbai

Gold loans have become a highly preferred financial option in Mumbai, 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 taking gold loans in Mumbai:

  • Partial release facility: Borrowers have the option to repay a portion of their loan called part release facility 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 Mumbai 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
    Get an instant gold loan 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 Mumbai, ensuring they receive quick access to funds with minimal inconvenience.

Eligibility criteria to avail of gold loans in Mumbai

Anyone can apply for a gold loan for agricultural activities and qualify for a gold loan in Mumbai, applicants must meet the following these basic eligibility 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 Mumbai

To apply for a gold loan in Mumbai, you need to provide one of the following KYC 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 Mumbai

The gold loan interest rate in Mumbai represents the cost of borrowing against your gold jewellery. With Bajaj Finance, you can avail of a gold loan interest rate starting at 9.50% per annum, ensuring a cost-effective and flexible solution to meet your financial needs.

A gold loan can be a valuable financial tool in times of need. However, it is essential to consider certain factors that can impact your borrowing experience.

  • Market conditions: Fluctuations in market demand can impact interest rates as well as the value of the gold loan per gram.
  • Gold rates: The market rate of gold also affects the interest rates on gold loans, as they directly impact the value of the gold jewellery offered as collateral.
  • Repayment frequency: The frequency of the interest payments on your gold loan also impacts the interest rate.

Gold loan calculator in Mumbai

A gold loan calculator helps you estimate the loan amount you can avail against your gold. By inputting details such as the weight and purity of your gold, along with the current market price, the calculator provides an estimate of the loan amount. Additionally, it can help you calculate the interest repayment amount based on the loan tenure and interest rate. This tool is useful for planning your finances and ensuring that you can comfortably manage loan repayments..

Why choose Bajaj Finance to avail a gold loan in Mumbai?

Bajaj Finance stands out as an excellent choice for availing a gold loan in Mumbai due to several reasons. They offer quick disbursement, often within a few hours, providing immediate access to funds. Their competitive interest rates and flexible repayment options are tailored to meet your financial needs. Bajaj Finance also provides a high loan-to-value ratio, allowing borrowers to secure substantial loan amounts against their gold. Moreover, their transparent process with minimal documentation makes it convenient and hassle-free for borrowers. The added benefit of free insurance coverage for your gold while in their custody further enhances security, making Bajaj Finance a reliable option for gold loans.

How to apply for a gold loan in Mumbai?

By following the steps below and understanding the benefits and requirements, you can efficiently secure a gold loan in Mumbai to meet your financial needs.

  1. Click on ‘APPLY’ to open our online application form.
  2. Enter your 10-digit mobile number and click on ‘GET OTP.’
  3. Submit the OTP to verify your identity.
  4. Select your state and city to find the branch nearest to you.
  5. Enter your full name and date of birth as per your PAN.
  6. 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.

You can visit our Gold loan Branch in Navi Mumbai

Know more about gold Loan in Indian states and Union Territories

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Gold Loan in Chandigarh

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Gold loan in other cities

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Gold Loan in Solapur

Gold Loan in Patna

Gold Loan in Salem

Gold Loan in Udaipur

Gold Loan in Mumbai

Gold Loan in Chennai

Gold Loan in Guwahati

Gold Loan Jaipur

Gold Loan in Kolkata

Gold Loan in Bhopal


Visit the nearest Bajaj Finserv Gold Loan branch in your city.

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Frequently asked questions

When should you apply for a gold loan?

You should apply for a gold loan when you need money for your planned or unplanned expenses. A gold loan is a form of a secured loan. It may be a good option if you already have an ongoing loan. You can apply for one by pledging the gold jewellery you may have at your home.

Walk into the nearest Bajaj Finserv Gold Loan Branch in your city. You can also start by completing the simple application form on the Bajaj Finserv website.

Can you get a gold loan on jewellery?

Yes, you can get a loan against gold jewellery at an attractive interest rate. Bajaj Finserv gold loan interest rates start from 9.50% p.a. onwards. To get a loan against gold, click on the ‘APPLY’ option on the top of this page. You could also walk into the nearest Bajaj Finserv Gold Loan branch in your city.

How do fluctuations in gold prices impact your gold loan?

Fluctuations in gold prices directly influence your gold loan value. As the gold price changes, so does the collateral's worth, affecting the loan amount. It's essential to monitor the gold rate to understand these variations and make informed decisions about your gold loan, ensuring financial stability.

How can you repay your gold loan?

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 for your loan against gold, if any, will be due for payment at the time of loan maturity.

How to get a gold loan?

Getting a loan against your gold jewellery is one of the easiest ways to meet any unplanned expense. To get a gold loan from Bajaj Finance, you can apply online, and we will call you and guide you on the next steps or you could simply visit the nearest gold loan branch in your city. To apply for an online gold loan, you need to follow the below mentioned steps:

  1. Click on ‘APPLY’ to open our online application form
  2. Enter your 10-digit mobile number and click on ‘GET OTP’
  3. Submit the OTP to verify your identity
  4. Select your state and city to find the branch nearest to you
  5. Enter your full name and date of birth as per your PAN
  6. 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.

What is the minimum loan amount I can get against gold in Mumbai?

With Bajaj Finance, you can a minimum of Rs. 5,000 as a loan against gold.

What is the maximum tenure of a Gold Loan in Mumbai?

With us, you can get a maximum gold loan tenure of up to 12 months.

Can I get a gold loan from the Mumbai branch without a residential proof?

No, if the customer's current city differs from their permanent address, presenting current address proof becomes mandatory to access a gold loan, alongside proof of identity.

Acceptable documents for "Current address proof" include:

  1. Utility bills (issued within the last two months) from service providers such as electricity, telephone, post-paid mobile phone, piped gas, or water bills.
  2. Pension or family pension payment orders (PPOs) issued by Government Departments or Public Sector Undertakings (PSUs) if they feature the address.
  3. Property or municipal tax receipts.
  4. Letters of accommodation allotment from employers issued by State/Central Government Departments, statutory or regulatory bodies, PSUs, scheduled commercial banks, financial institutions, and listed companies, as well as leave and license agreements with such employers for official accommodation.

Accepted documents for "Permanent address proof" include Aadhar Card, Passport, Driving License, Voter Card, Letters issued by the National Population Register, and NREGA job cards.

Can I pay gold loan interest online in Mumbai?

Yes, you can pay your gold loan interest online in Mumbai.

Can I avail EMI facility on a gold loan in my city, Mumbai and if so, how?

No, you do not have the EMI facility on a gold loan. Though can you choose to pay your gold loan interest on a monthly, bi-monthly, quarterly, half-yearly, or annually, as per your convenience.

How can I check gold loan status in Mumbai?

To check the status of your gold loan just visit the nearest gold loan branch or simply sign-in to ‘My Account’ on Bajaj Finserv website or app.

How can I repay my gold loan faster in Mumbai?

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 for your loan against gold, if any, will be due for payment at the time of loan maturity.

Are there any extra charges applicable against gold loan foreclosure in Mumbai?

You can repay a part of your loan in advance or pay the entire amount at no extra cost. Though, in case you close the loan within 7 days of booking, minimum 7 days interest is charged.

How safe are my gold ornaments with Bajaj Finance in Mumbai?

Our free insurance covers against theft or misplacement of your gold jewellery while it is in our custody.

What are the different schemes available for Gold Loan in Mumbai?

Some of the most popular government gold loan schemes are: Sovereign gold bond scheme, gold monetisation scheme, gold metal loan scheme, revamped gold deposit scheme, gold coin and bullion scheme.

How to get a gold loan in Mumbai?

Getting a loan against your gold jewellery is one of the easiest ways to meet any unplanned expense. To get a gold loan from Bajaj Finance, you can apply online, and we will call you and guide you on the next steps or you could simply visit the nearest gold loan branch in your city. To apply for an online gold loan, you need to follow the below mentioned steps:

  1. Click on ‘APPLY’ to open our online application form
  2. Enter your 10-digit mobile number and click on ‘GET OTP’
  3. Submit the OTP to verify your identity
  4. Select your state and city to find the branch nearest to you
  5. Enter your full name and date of birth as per your PAN\
  6. 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.

When should you apply for a gold loan in Mumbai?

You should apply for a gold loan when you need money for your planned or unplanned expenses. A gold loan is a form of a secured loan. It may be a good option if you already have an ongoing loan. You can apply for one by pledging the gold jewellery you may have at your home.

Walk into the nearest Bajaj Finserv Gold Loan Branch in your city. You can also start by completing the simple application form on the Bajaj Finserv website.

Can you get a gold loan on jewellery in Mumbai?

Yes, you can get a loan against gold jewellery at an attractive interest rate. Bajaj Finserv gold loan interest rates start from 9.50% p.a. onwards. To get a loan against gold, click on the ‘APPLY’ option on the top of this page. You could also walk into the nearest Bajaj Finserv Gold Loan branch in your city.

What are the factors that affect gold loan interest rates?

Factors affect gold loan interest rates are influenced by the loan amount, tenure, gold purity, borrower's credit score, and market gold prices.

What KYC Documents are required for a gold loan in Mumbai?

To apply for a gold loan in Mumbai, you need to provide KYC documents such as Aadhaar card, Voter ID card, passport, driving licence, NREGA job card or a letter from national population registration.

What is the maximum tenure of a gold loan in Mumbai?

The maximum gold loan tenure in Madurai varies, but typically it can be up to 12 months  months.

What are the benefits of taking a gold loan in Mumbai?

The benefits of taking a gold loan in Mumbai include quick processing, minimal documentation, lower interest rates, and flexible repayment options.

How can we get a gold loan in need of urgent money in Mumbai?

To get a gold loan in need of urgent money in Mumbai, visit a reputable lender like Bajaj Finance. They offer quick processing and competitive interest rates.

What are the best and easiest ways to repay your gold loan in Mumbai?

There are several easy ways to repay your gold loan in Mumbai. You can choose to repay your interest monthly, bi-monthly, quarterly, half yearly or annually, as per your convenience.

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