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

Here is all you need to know about Bajaj Finserv Gold Loan.
Gold Loan Repayment options, processing fee, and part-prepayment charges
2 min read
17 July 2023

The purchase of gold jewellery has long been a cherished tradition in Indian households. Apart from acquiring jewellery for weddings, Indians also buy gold during auspicious events. It is believed that owning gold brings prosperity to the family. Similar to real estate and fixed deposits, gold is an asset that Indians prefer to acquire, as it can be used as collateral to secure loans during times of financial difficulty.

Acquiring a loan against gold is not only a simple process but also more cost-effective. The interest rate on a gold loan is lower compared to personal loans or loans against credit cards, primarily due to its secured nature. Gold loans provide quick access to funds.
Additionally, you have the advantage of multiple repayment options. Here's everything you need to know about gold loans.

Rate of interest

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

Whether you need funds for personal expenses, business requirements, or any other financial need, Bajaj Finserv offers flexible loan options to suit your specific borrowing requirements. The loan amount can be disbursed quickly, ensuring you have access to the necessary funds without any delay.

Processing fees

When availing a gold loan from Bajaj Finserv, the processing fee is calculated at 0.12% of the loan amount, including applicable taxes. The processing fee is set at a minimum of Rs. 99 (inclusive of taxes), and capped at a maximum of Rs. 600 (inclusive of taxes), ensuring affordability.

Repayment options

Bajaj Finserv 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, bimonthly, 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.

Part-prepayment or foreclosure fee

When it comes to Bajaj Finserv gold loans, 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 competitive interest rates, multiple repayment options, and an easy application process. Bajaj Finserv makes it easy to obtain a gold loan that suits your financial needs. Apply now on the Bajaj Finserv website.


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