Gold Loan Repayment options, processing fee, and part-prepayment charges

Why gold loans are a smart and convenient choice

Buying gold has always been a cherished tradition in Indian households. Beyond weddings, people often buy gold during auspicious occasions, believing it brings prosperity and good luck to the family. Like real estate or fixed deposits, gold is a valuable asset, and it can also be used as collateral for loans during financial emergencies.

Getting a loan against gold is simple and cost-effective. Since it is a secured loan, the interest rate is usually lower than personal loans or credit card loans. Gold loans also provide quick access to funds and come with multiple repayment options to suit your needs. Here’s a complete guide to understanding gold loans and how they can help you manage finances efficiently.

Rate of interest

With Bajaj Finance, you can get low gold loan interest rates, starting from 9.50% to 24% per annum.

Whether you need funds for personal expenses, home renovation, or any other need, Bajaj Finance offers gold loan options to suit your specific borrowing requirements. The loan amount is often disbursed on the same day of your branch visit, ensuring you have access to the necessary funds without any delay.
 

Processing fees

When availing a gold loan from Bajaj Finserv Gold Loan, the processing fee is calculated at 0.20% of the loan amount, including other applicable charges. The processing fee is set at a minimum of Rs. 150 (inclusive of taxes), and capped at a maximum of Rs. 1000 (inclusive of taxes), ensuring affordability. 

Repayment options

Bajaj Finance offers customers a wide range of repayment choices, allowing for greater flexibility. As a borrower, you have the freedom to decide how and when you want to repay your loan. You can select a monthly, bi-monthly, quarterly, half-yearly, or annual payment schedule for the interest. However, please keep in mind that the principal amount and any outstanding interest must be settled upon the maturity of your loan. The repayment tenure can range from 1 day to %$$GL to 12 months.

Part-prepayment or foreclosure fee

When it comes to Bajaj Finserv Gold Loan, you have the freedom to manage your repayments without any additional charges.

There are no part-prepayment or foreclosure fees, allowing you to repay a portion of your loan in advance or settle the entire amount without incurring any extra costs. This flexibility allows you to efficiently manage your finances and pay off your gold loan according to your convenience.

Now that you know how affordable a gold loan is, visit the Bajaj Finserv website today to start your application. Take advantage of low interest rates, multiple repayment options, and an easy application process. Bajaj Finance makes it easy to obtain a gold loan that suits your financial needs. 

Discover your borrowing potential by checking your gold loan eligibility. It takes just a few clicks and no waiting.