The gold rate in Haryana have a direct impact on the amount you can receive through a gold loan. When gold prices rise, the value of your jewellery, ornaments, or coins increases, allowing you to access a higher loan amount against the same asset. When gold rates decline, the eligible loan amount may reduce accordingly.
How is gold loan eligibility calculated?
Your eligible loan amount for a gold loan in Haryana depends on:
- Gold weight
- Gold purity
- Applicable gold rate on the day of assessment
- Loan-to-Value (LTV) ratio
Only your gold's actual content counts toward this value. Stones, enamel, and other decorations are left out. Your final loan amount depends on the eligible LTV, your gold's purity, and applicable gold price.
This LTV ratio stays fixed through the loan tenure and may be revised as per RBI guidelines. The loan amount itself depends on the applicable LTV, which varies by loan size. To know more, click here.
Gold loan basics: what you should know before applying
With Bajaj Finance, you can borrow from Rs. 5,000 to Rs. 2 crore against your gold jewellery, ornaments, and gold coins. The gold loan interest rate starts from 9.50% per annum.
Jewellery and ornaments are accepted between 18-22 karat purity. Gold coins are accepted up to 24 karat purity. Your pledged gold is insured against theft, burglary, fire at the branch, and misplacement for the entire loan duration.
Bajaj Finance Gold Loan is available to salaried and self-employed individuals, and pensioners. You must be an Indian resident aged between 21 and 80 years.
A few things worth knowing before you apply:
- Your loan amount is based on the weight and purity of your gold, not what you originally paid for it
- Bajaj Finance uses the lower of the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange
- Only one valid KYC document is required: Aadhaar card, Voter ID, passport, driving licence, NREGA job card, or a letter from the NPR
- You can repay interest monthly, bi-monthly, quarterly, half-yearly, or annually, with the principal settled at the end of the tenure
- There are no foreclosure charges; you can close the loan early without any penalty
Disbursal is often completed in one branch visit. Before applying, use the gold loan calculator to estimate your eligible amount, or check your gold loan eligibility online to understand your borrowing capacity based on today's gold rate in Haryana, gold purity, and weight.
Pro tip: It takes just 2 steps to check your eligibility for a Bajaj Finance Gold Loan. Enter your mobile number now.