How to foreclose your Bajaj Finserv Gold Loan

How to manage, part-prepay, and foreclose your gold loan 

Whether it's a medical emergency, or any other need, opting for a gold loan is a convenient way to meet your expenses. This loan helps you to get funds at competitive interest rates, especially in comparison to any of the unsecured loan options available.

Bajaj Finance offers gold loans that come with multiple repayment options allowing you to pay interest monthly, bi-monthly, quarterly, half-yearly, or annually as per your convenience. You can pay the principal amount at the end of the tenure or use our part-prepayment facility to pay as and when you have funds.
 

If you have a Bajaj Finserv Gold Loan, you can repay it as per the repayment option you have opted for. However, in case you have surplus funds, you can pay the outstanding balance in one go and foreclose your loan. Foreclosing helps you settle the debt before the set tenure ends, potentially saving on the total interest payable. It helps in reducing the overall cost of borrowing. Foreclosing your gold loan also allows you to retrieve your pledged gold collateral sooner providing greater financial flexibility, and freedom to utilise the asset according to your requirements.

With our gold loan services, you can easily foreclose your ongoing loan with us without paying any additional foreclosure fee. You can visit the customer portal – My Account on our website or use our app to check your outstanding loan amount. Once you know, your outstanding loan amount, you can use the part-prepayment option to pay a part of your principal and applicable interest online. However, you won’t be able to foreclose your loan online.

There will be a certain amount, which will remain outstanding and can be paid by visiting our branch where you’ve kept your gold jewellery.

Pro tip: Do not let your jewellery sit idle—tap into its value with a gold loan that suits your needs. Check your gold loan eligibility today!

If you’re using the customer portal, you can follow these simple steps to part-prepay your gold loan.

• Visit the customer portal by clicking on the ‘Pay Now’ button on this page.
• Enter your registered mobile number and the OTP to sign-in.
• Verify yourself with your date of birth and proceed.
• Select the loan account from the ‘My Relations’ section.
• Click on ‘Make Payments’ within the ‘Quick Actions’ section.
• Choose the ‘Part-prepayment’ option from the list.
• Enter the required details and proceed to pay using our secured payment getaway.

You can follow the steps given below and part-prepay your gold loan using our app.

• Click on the ‘Pay Now’ button on this page to visit the ‘My Relations’ section of the app.
• Select the gold loan account you want to part-prepay.
• Click on the ‘Make Payments’ options on your screen.
• Choose ‘Part-prepayment’ from the list of options.
• Enter the required details and proceed with the payment.

Once your payment is completed, you can visit the branch from where you’ve availed of our gold loan. You can pay the balance at the branch and our representative will guide you on further steps of foreclosing your loan.

Apply in minutes. Money in account instantly with a Bajaj Finserv Gold Loan*