Features and benefits of gold loans in Patiala
Gold loans in Patiala 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 Patiala. 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 our 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: 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 our Gold Loan branch in your city.
- Gold loan of up to Rs. 2 crore: We offer quick 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 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 Patiala, ensuring they receive quick access to funds with minimal inconvenience.
How to apply for a gold loan in Patiala?
If you are planning to apply for a gold loan in Patiala, the process is simple and can be started online in just a few easy steps. Borrowers need to visit the nearest gold loan branch with their gold jewellery and required documents. The representative will evaluate the gold based on its purity and prevailing gold rate to determine the loan amount. After the valuation, basic KYC verification for gold loan is done, and once approved, the borrower receives the loan amount. Here’s a step-by-step guide to apply online:
Click on the “Apply” button on the official Bajaj Finserv Gold Loan website.
Enter your 10-digit mobile number and click on “Get OTP”.
You will receive an OTP (one-time password). Enter the OTP to confirm your mobile number.
Fill in your personal details, such as your name, address, and age.
Choose the nearest Bajaj Finance gold loan branch in Patiala.
Download your In-principal loan eligibility letter for reference.
After this, one of our representatives will give you a call to fix an appointment. They will also explain the next steps and help you complete your gold loan application in Patiala smoothly and quickly.
Eligibility criteria for gold loans in Patiala
Anyone in Patiala can apply for a Bajaj Finserv Gold Loan to cover various needs like farming, medical expenses, education, or other personal costs. The eligibility requirements are simple and easy to meet.
Age: You must be between 21 to 70 years.
Citizenship: You should be an Indian citizen.
Gold purity: Your gold jewellery must have a purity of 18-22 karat.
Occupation: Whether you are salaried, self-employed, a homemaker, or retired, you can apply.
Credit score: You do not need a high credit score, since the loan is secured against your gold.
These simple requirements make it easy for anyone in Patiala to get a gold loan during urgent financial needs.
Documents required for gold loan application in Patiala
Applying for a gold loan with Bajaj Finance in Patiala requires minimal documentation, ensuring a smooth and efficient process. To simplify the gold loan process, Bajaj Finance in Patiala 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 Patiala’s residents, even for those without extensive financial paperwork, encouraging broader financial inclusion and support for urgent funding requirements.
Best interest rates for gold loans in Patiala
If you need quick money without high costs, Bajaj Finance offers a gold loan in Patiala with low interest rates. These loans help you cover your financial needs and keep repayment easy. The interest rate depends on your loan amount, the purity of your gold, and how long you want to repay.
Types of fee
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Applicable charges
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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
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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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With Bajaj Finance, borrowers can enjoy many benefits, such as flexible repayment tenures of up to 12 months and a high loan-to-value (LTV) ratio of up to 75%, which helps you get the most value from your gold. The fast disbursal process ensures that you receive funds quickly, helping you meet urgent financial needs.
How to calculate gold loan in Patiala?
If you are planning to apply for a gold loan in Patiala, using a gold loan calculator can make the process easier. It is a free online tool that quickly shows how much loan you can get based on your gold.
Here is how to use the calculator:
- Enter gold weight or loan amount – Type in the weight of your gold jewellery or the amount you need.
- Check gold purity – Choose the gold loan purity in karats, as it impacts the loan amount you can get.
- See loan estimate – Based on current gold rates and your details, the calculator gives an estimated loan amount.
- View interest rate and tenure – It also shows possible interest rates and repayment duration options.
This tool helps you plan better and apply for a gold loan in Patiala with confidence. It is simple, quick, and provides a clear picture before applying.
Repayment options for gold loans in Patiala
At Bajaj Finance, we understand that everyone's financial needs are different. That's why we offer flexible repayment options for your gold loan in Patiala. You can choose how often you want to pay the interest based on what works best for you. Here are the available repayment options:
- Monthly payments – Pay interest every month.
- Bi-monthly payments – Pay every two months.
- Quarterly payments – Pay every three months.
- Half-yearly payments – Pay twice a year.
- Annual payments – Pay once a year if you prefer longer gaps.
You can choose any option that suits you. Just remember, the main loan amount and any remaining interest must be paid at the end of the loan term. These flexible choices make it easy for people in Patiala to manage their gold loan without any stress.
Safety and security of gold collateral in Patiala
The security of pledged gold is a top priority. Bajaj Finance ensures that borrowers' gold jewellery is stored safely, providing peace of mind throughout the loan period.
- Gold is kept in high-security vaults with advanced surveillance.
- Complementary insurance policies protect against theft or loss.
- Privacy protocols ensure customer information remains confidential.
- Detailed documentation assures borrowers of their gold's safety.
Why choose Bajaj Finance to avail a gold loan in Patiala?
If you are in Patiala and need money urgently, a gold loan from Bajaj Finance can be a smart and safe way to get quick funds. It is designed to give you maximum value for your gold and make the process easy for you.
- Simple process – You can apply for the loan in just a few easy steps. The application can be started online, and you can visit the nearest branch to complete the process.
- Less paperwork – You only need to submit one KYC document such as Aadhaar card or PAN card. This saves time and effort.
- Quick approval – Once your gold is evaluated, the loan gets approved fast. It is very helpful during emergencies like medical needs or school fees.
- Multiple payments – You can choose how often to pay the interest. Pay monthly, every two months, every three months, half-yearly, or once a year – whatever suits your comfort.
- Clear terms – Bajaj Finance explains all the loan details clearly. There are no hidden fees, so you know exactly what you are signing up for.
- Safe handling – Your gold is kept in a secure locker and is insured. It stays completely safe till you repay the loan.
- Helpful support – Friendly staff at the branch or on call help you through every step, from applying to repayment.
A gold loan in Patiala with Bajaj Finance is quick, safe, and easy to manage.
Visit the nearest gold loan branch in Patiala
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