Handle Any Emergency with a Gold Loan

What makes gold loan a smart option during emergencies

You may have an emergency fund set aside as part of your financial planning to protect yourself in the event of a crisis. For many people, such funds are kept in fixed deposits or other investment forms that can be liquidated quickly.

While such assets are handy, liquidating them means losing out on years of investment growth, and a direct hit to your savings. So how can you handle an emergency, while not sacrificing your funds?

A gold loan is the solution. Gold jewellery is an asset that usually sits in your wardrobe or your bank locker, without benefiting you in any way. Pledging it in return for dispensable cash is a smart move, especially if there is financial urgency.

Here are 6 reasons why you should consider a gold loan to manage an emergency

Read on to know how our gold loan can help you deal with any financial emergency.

1. Loan in just 1 branch visit*

Gold loans have become one of the most secure, quick, and safe financing solutions, particularly when instant funds are needed. Unlike other credit facilities, the application process and documentation required to get a gold loan are very easy since you are pledging physical gold jewellery to get the loan. You can often get the funds you need in just 1 branch visit.

2. Apply with just your KYC documents

You can apply for our gold loan with just KYC documents. All you need is any one of the listed KYC documents like Aadhaar card, Voter ID card, passport, driver's license, NREGA job card, or a letter from the National Population Registration.

3. High loan sanction

If you use the potential of your gold ornaments correctly, they can be well utilised to cover your emergency cash needs. When you apply for a gold loan, your jewellery is weighed and given a value based on the 30-day ongoing price of gold, not the price you paid for it. Since gold is an asset that is likely to appreciate in value, the loan amount you are likely to get may be higher than the amount you may have paid for it. We offer gold loans from Rs. 5,000 to Rs. 2 crore against your 18-22 karat gold jewellery.

Pro-tip: You can also use the online gold loan calculator on our website to get an estimate before visiting a branch. This helps you plan better and understand your loan eligibility.

4. Easy application process

By virtue of it being a secured loan, the Bajaj Finserv Gold Loan does not need you to tick mark any special criteria. You do not need to get involved in any complex paperwork or application process.

You only need the worth of your gold to decide how much money you can borrow. The overall process of checking the authenticity and worth of your valued gold commodity is transparent and at par with industry standards.

To get this loan, you simply need to complete an online application form. Following that, we will contact you to schedule an appointment at our nearest gold loan branch. You must bring your jewellery there for evaluation. This process only takes a few minutes.

Once your offer is ready based on the value of your jewellery, the funds are transferred to your bank account as soon as possible.

5. Multiple repayment options

Our gold loan comes with several repayment options, to make it affordable for you in an emergency. You can choose to repay the interest in regular intervals like monthly, bi-monthly, quarterly, half-yearly or annually. Though any pending interest or principal amount is to be paid before the tenure ends. 

Once the emergency passes, you can release a portion of your pledged gold by paying back its value. The part-release and easy foreclosure facilities ensure that you can get your prized possessions back to you with utmost ease.

6. Free insurance of your gold

Bajaj Finance also offers the additional benefit of free insurance coverage for your pledged gold jewellery against theft and misplacement. By storing your jewellery in secure vaults with round-the-clock surveillance, we get you enhanced protection throughout your loan tenure.

Take advantage of Bajaj Finserv Gold Loan service

Get access to the funds you need with a loan against gold from Bajaj Finance. Use our app or website to book an appointment at any of our 1300+ branches. Store your gold in our state-of-the-art lockers and get a loan with some of the best features including convenient tenures, instant approval, and quick loan disbursals.

Quick fix: It takes just 2 steps to check your eligibility for a Bajaj Finserv Gold Loan. Enter your mobile number now.