How to Transfer Gold Loan to Bajaj Finance

What is gold loan balance transfer?

A gold loan balance transfer is when you move your existing gold loan from one lender to another for better benefits. Think of it like switching to a new plan that saves you money. By transferring, you can enjoy lower interest rates, better customer support, or multiple repayment options. Many people choose this when they feel their current loan is costing more than it should. The best part is, your gold stays safe during the process, and you get to manage repayments more comfortably. It is a smart move if you want to reduce financial pressure and save more.

How to do a gold loan balance transfer 

With the transfer of outstanding gold loans, you can benefit from low interest rates. The process of gold loan transfer is quick and easy, involving only a few simple steps. Transferring your outstanding gold loan allows you to repay the advance at reduced rates, allowing savings on unnecessary interest payments.
 

Reduced instalment payments allow you to manage your finances better. Many lenders offer free insurance on the pledged gold, providing the borrower additional security in case of loss due to theft or misplacement.
 

Additionally, facilities like part-release of gold against equivalent repayment and multiple repayment options make this one of the most sought-after financial instruments in the market.

Steps to follow for gold loan transfer 

Complete the following steps to transfer your outstanding gold loan:

• Check if you meet all eligibility requirements for a balance transfer.
• Next, apply for a gold loan foreclosure with your existing lender.
• Proceed to apply for a gold loan transfer with a simple application form fill-up.
• Submit the minimum necessary documents required to complete paperwork.
• Obtain pledged gold from the previous lender and deposit under industry-best vault security.
• Obtain a new loan agreement with the lowest gold loan interest rate and other favourable terms.
• Receive the gold loan amount in your bank account shortly.
• Once received, you can start repayment of the advance as per the agreed schedule.
   

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 and leverage the value of your gold based on latest gold rates.

Benefits of a Bajaj Finserv Gold Loan

Bajaj Finance offers gold loans ranging from Rs. 5,000 to Rs. 2 crore with interest rates from 9.50% to 24% p.a. With easy part release, easy to meet eligibility, and minimal paperwork, this loan comes in handy for both planned and urgent needs without any unnecessary delays.  Here are the top advantages of Bajaj Finserv Gold Loan:
 

• Accurate and transparent evaluation of gold to arrive at a suitable value of the pledged asset as per its purity and weight. Such evaluation is done through industry-grade karat metres for accuracy
• Bajaj Finance offers competitive gold loan interest rates for affordable financing
• Pledged gold is stored in the most secure vaults under 24/7 surveillance and are insured against theft and misplacement
• A wide range of repayment options make it easy for borrowers to repay their gold loans
• Part-release facility allows release of gold items against equivalent repayment during the loan tenure
• Easy renewal and top-up facility to manage your expenses conveniently
• A high loan per gram means that borrowers can avail maximum financing against each gram of gold pledged based on purity