How to Get a Quick Loan Against Gold Jewellery

How to Get a Quick Loan Against Gold Jewellery

Follow these quick and easy steps to apply for a gold loan of up to Rs. 2 crore.
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Rs. 5,000 - Rs. 2 crore

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Turning your gold into instant financial support

Ever looked at your gold and thought it could do more than sit safely in a locker? In India, gold is not just a symbol of tradition or savings. It is a powerful financial backup you can rely on when money is needed quickly. Today, more people like you are realising the true potential of their unused gold jewellery, ornaments or coins, which is why gold loans are gaining popularity.

A gold loan is a secured way to access funds by pledging your precious gold. The loan amount depends on the value of the gold you offer and can go up to 85% of its worth, as per RBI guidelines. Since your gold acts as security, you benefit from lower interest rates, minimal paperwork, and quick disbursal. With Bajaj Finserv Gold Loan, you can avail amounts starting from Rs. 5,000 up to Rs. 2 crore, depending on eligibility. The maximum LTV eligible for consumption loans per borrower depends on the loan amount and cannot be more than the limits given:

  • For loans up to Rs. 2.5 lakh = LTV 75%
  • For loans between more than Rs. 2.5 lakh to Rs. 5 lakh = LTV 80%
  • For loans from more than Rs. 5 lakh up to Rs. 2 crore = 85%

Your gold stays safe in high-security vaults with round-the-clock surveillance, so you do not have to worry about its safety. The gold loan valuation process is transparent, using advanced karat metres to ensure you get the right value for your gold.

To get started, you can use an online gold loan calculator to estimate your loan amount based on the weight of your gold. Applying is simple too. As an Indian citizen aged between 21 and 80 years, you only need one valid KYC document such as an Aadhaar card, voter ID, passport, or driving licence to apply for a Bajaj Finserv Gold Loan.

Planning to use your gold for quick funds? Check your gold loan eligibility now and see how much you can borrow instantly.

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Gold loan interest rates and charges

The gold loan interest rate represents the cost of borrowing funds against your gold jewellery. With Bajaj Finance, gold loan interest rates start from 9.50% to 24% per annum, helping you access funds in a cost-effective way. You can rely on complete transparency, with no hidden charges and clearly defined terms and conditions. It is always advisable to review the applicable fees and charges before applying.

A gold loan can be a useful financial option when you need funds quickly. However, a few factors can influence your overall borrowing experience. Market conditions play a role, as changes in demand can affect both interest rates and the gold loan value per gram. Gold rates also matter, since the market price of gold directly impacts the value of your pledged jewellery. Additionally, the frequency at which you pay interest can influence the interest rate applicable to your gold loan.

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Latest RBI updates

Section

Parameter

Applicable Details

 

Eligibility Criteria

Gold purity accepted

18-22 Karat for jewellery and ornaments

24 karat for gold coins

Eligible collateral types

Gold ornaments, jewellery, and coins

 

 

 

 

 

 

 

 

 

Eligible limit for each collateral type

Ornaments

Total pledged weight across all loans must not exceed 1 kilogram

Gold coins

The total weight of gold coins pledged cannot be more than 50 grams.

Gold Jewellery

As per maximum loan amount.

Overall exposure limit

The total loan exposure across ornaments, jewellery, and gold coins together must not exceed the maximum loan limit of Rs. 2 crore.

Collateral protection

 

Any loss, damage, or discrepancy in the quantity or purity of your pledged gold identified during audit, return, or auction will be recorded and promptly communicated to you or your legal heirs. The reimbursement or compensation process, as per company policy and SOP, will be clearly explained. Delays in collateral release due to lender fault will attract compensation of ₹5,000 per day.

 

 

 

Gold loan renewal

Renewal parameter

You can request renewal of your gold loan before maturity if it remains in standard status and within permissible LTV limits. This facility is available only to existing customers. For bullet repayment loans, accrued interest must be cleared. Renewals are subject to credit checks, fresh applicable charges, and are not allowed after maturity.

 

 

Gold loan top up

Top up parameter

Top-up is allowed before maturity, subject to regulatory LTV limits, credit assessment, and customer eligibility. Fresh fees and charges apply. Top-up after maturity is not permitted, even if dues are outstanding. Top up facility is available only to existing users.

 

 

 

LTV (Loan to Value)

For loans up to Rs.2.5 lakh

85%

For loans between more than Rs.2.5 lakh to Rs.5 lakh

80%

For loans from more than Rs. 5lakh to Rs. 2 crore

75%

 

 

 

Gold Value

Evaluation parameter

As per the latest guidelines, gold loans are offered against specific purity of gold jewellery, ornaments and gold coins, valued using lower of the average closing price for your gold's specific purity over the last 30 days or the previous day's closing price, as published by IBJA or a SEBI-regulated commodity exchange, within prescribed limits and subject to KYC and timely repayment.

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Eligibility criteria and documents required to apply for gold loans

Applying for a gold loan is easy if you meet the basic gold loan eligibility criteria and have gold jewellery to pledge. You need to be between 21 and 80  years of age and own 18-22 karat gold jewellery or ornaments to pledge for a gold loan. Gold coins up to 24 karat are also accepted. 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.

To complete your gold loan application, you need to submit any one of the following KYC documents for gold loan:

  • Aadhaar card
  • Voter ID card
  • Passport
  • Driving licence
  • NREGA job card
  • Letter issued by the National Population Registration

Please note that a PAN card is not mandatory for all applicants. However, if you apply for a gold loan of Rs. 5 lakh or above, submission of your PAN card will be required as per guidelines.

Thinking of applying for a gold loan? Start with a simple step—check your gold loan eligibility today.

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How to apply for a gold loan?

Getting a Bajaj Finserv Gold Loan is simple and stress-free. You just need to visit your nearest branch with your gold jewellery and valid KYC documents. The team will check the purity and weight of your gold, work out your eligible loan amount, and complete the process on the spot. In most cases, the loan amount is credited to your account on the same day, helping you access funds without delay.

If you prefer added convenience, you can also apply online through the Bajaj Finserv App or website and complete the process from anywhere.

Curious to know how much loan you can get? Enter your mobile number to check your gold loan eligibility instantly.

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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. *