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How much gold do you need for a gold loan?
Have you ever wondered how much gold you actually need to get a gold loan? The answer depends on a few key factors like the loan-to-value (LTV) ratio, the purity of your gold, and the current market price. At Bajaj Finance, you can get up to 85% of the value of your pledged gold. Generally, gold with a purity between 18-22 karats for jewellery and ornaments is ideal for gold loans—the higher the purity, the more you can borrow. You can also pledge gold coins up to 24 karat purity. The market price of gold also plays a role, so your loan amount will vary with fluctuations in gold rates.
For example, if the LTV is 85% and gold is valued at ₹5,000 per gram, pledging 10 grams could make you eligible for a loan of up to ₹42,500, while 30 grams could fetch up to ₹1,27,500. You can also use the gold loan calculator by Bajaj Finance to see exactly how much gold you need for your desired loan. Knowing this helps you plan better and ensures you borrow only what you need.
The loan-to-value (LTV) ratio for gold loans is set as prescribed by the Reserve Bank of India. Bajaj Finance adheres to the guidelines set by RBI and offers the same LTV ratio while handing out loans. Here is a LTV break down:
1. For loans up to Rs. 2.5 lakh = LTV 75%
2. For loans between more than Rs. 2.5 lakh to Rs. 5 lakh = LTV 80%
3. For loans from more than Rs. 5 lakh up to Rs. 2 crore = 85%
How to get your gold loan quickly
Getting a gold loan is simpler than you might think. Once you know how much you can borrow, all you have to do is decide whether to take the full amount or a part of it, keeping your repayment capacity in mind. With Bajaj Finance, the process is quick and hassle-free. You can either visit your nearest branch with your gold and KYC documents or apply online through the website or app. At the branch, your gold will be assessed for purity and weight, which determines your eligible loan amount. Once everything is verified, the funds are disbursed swiftly.
With multiple repayment options like monthly, quarterly, or at the end of the tenure, you can choose what works best for you. By pledging your gold, you get instant access to funds while keeping your precious gold secure. This makes gold loans a convenient, safe, and effective solution for any urgent financial need.
Turn your gold into instant support—handle any expense with ease. Check your gold loan eligibility and access funds when you need them most.
Gold loan interest rates and charges
The gold loan interest rate is the cost you pay for borrowing against your pledged gold jewellery. With Bajaj Finance, gold loan interest rates start from just 9.50% to 24%, with transparent terms and no hidden charges. While a gold loan can be a dependable source of funds during financial needs, several factors can influence the interest payable. These include prevailing market conditions, gold rates, the value of your pledged gold, and the interest repayment option you choose. Understanding these factors can help you plan your borrowing and repayments more effectively.
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Eligibility criteria and documents required to apply for a gold loan
All salaried individuals, self-employed professionals and pensioners can apply for a gold loan with Bajaj Finance. You just have to be an Indian citizen, aged between 21 and 80 years and have 18-22 karat gold jewellery or ornaments to pledge. You can also pledge gold coins up to 24 karat gold purity as collateral.
To complete your application, you will need to submit any one of the following KYC documents:
- Aadhaar card
- Voter ID card
- Passport
- Driving licence
- NREGA job card
- Letter issued by National Population Registration
While PAN card is not mandatory, it is required if you are applying for a gold loan of Rs. 5 lakh or more.
From planned needs to sudden costs, your gold has you covered. Check your gold loan eligibility now and unlock immediate financial support.
How to apply for a gold loan?
Getting a Bajaj Finance Gold Loan is simple and hassle-free. All you need to do is visit your nearest branch with your gold and valid KYC documents. The team will check your gold’s purity and weight, calculate your eligible loan amount, and process it on the spot. In most cases, the funds are disbursed to your account the same day, giving you quick access to money when you need it. For added convenience, you can also apply online through the Bajaj Finance App or website and secure your loan easily from anywhere.
It takes just 2 steps to check your eligibility for a Bajaj Finance Gold Loan. Enter your mobile number now.
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Disclaimer
Bajaj Finance Limited (BFL) has the sole and absolute discretion, without assigning any reason to accept or reject any application as per BFL policy. *