How Can I Get a Gold Loan Online

A gold loan is a simple and efficient way to secure funds by pledging your gold as collateral. The process begins with you taking your gold to a lender. The lender evaluates the gold based on its purity, weight, and the current market price of gold. This determines the value of your gold.

Once the evaluation is complete, the lender offers a loan amount, which is usually a percentage of the gold's value. This percentage, called the Loan-to-Value (LTV) ratio, generally up to 85% of your gold’s value, as per the guidelines set by the RBI. After agreeing on the terms, you provide basic documents mentioned above in the eligibility section. 

Bajaj Finance considers lower of the previous day’s closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange to evaluate the loan amount against your gold jewellery, ornament or coin. 

The loan is disbursed promptly, often on the same day, either in cash or directly to your bank account. Gold loans usually offer multiple repayment options.

During the loan period, your gold is securely stored by the lender. Upon complete repayment of the principal and interest, your gold is returned. However, if the loan isn’t repaid, the lender may auction the gold to recover the outstanding amount.

Not sure if you qualify? Find out in moments— check your gold loan eligibility and plan your next move confidently.

Anyone can apply for a gold loan from Bajaj Finance. The minimum age limit for gold loan is 21 years and maximum limit extends up to 80 years. All salaried individuals, self-employed people, homemakers, and pensioners can apply for a gold loan with Bajaj Finance. You just have to be an Indian citizen between 21 and 80 years of age and have 18-22 karat gold jewellery or ornament to pledge as collateral. You can also pledge gold coins up to 24 karat gold purity. 

As secured advances, gold loans do not mandatorily require you to hold a minimum credit score. Neither does it affect the interest rate levied on a loan against gold. You can use our online gold loan calculator to assess your maximum eligibility for the advance. It can help you understand the per gram rate for your pledged gold as per its weight and purity. It is also advisable to use a gold loan calculator before sending your gold loan application as it helps in choosing a suitable loan amount that will keep the instalments affordable.

The documents needed to apply for a gold loan include the following:

• Aadhaar card 
• Voter ID 
• Driving licence 
• Passport 
• NREGA job card 
• Letter from the NPR  

Paperwork is not limited to these requirements strictly and may need you to submit additional documents if needed.

To apply: 

• Step 1: Visit the Gold Loan section of the Bajaj Finance website.
• Step 2: Locate the ‘APPLY’ option and click on it to proceed.
• Step 3: Next, the page will open your online application form. Enter your first and last name as it appears on your PAN card.
• Step 4: Enter your 10-digit mobile number and select your city.
• Step 5: Enter the OTP that was sent to your registered mobile number and submit the application.

Once you have submitted your gold loan application online, a Bajaj Finance representative will assist you in arranging an appointment at the gold loan branch of your preference.

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