A gold loan can be a great option for those who need quick access to funds. By pledging gold as collateral, you can secure a loan with lower interest rates compared to unsecured loans. Additionally, gold loans offer multiple repayment options, allowing you to choose a repayment plan that fits your needs.
You can get a quick gold loan of up to Rs. 2 crore from Bajaj Finserv by pledging your gold jewellery. Since a loan against gold jewellery is secured with tangible gold, it is comparatively easier to get the loan sanctioned with less paperwork and a faster processing time.
Here are some unique features of a gold loan offered by Bajaj Finserv:
Pledge your gold for an ample sum
With a loan of up to Rs. 2 crore, you can easily fund all your needs, whether they are personal or professional. Your loan is sanctioned with great ease because of the security that you present in the form of gold. Your gold is carefully evaluated in-house by Bajaj Finserv with top-grade karat metres to give you best value for your gold.
Enjoy easy and simple repayment
With Bajaj Finserv, you get a wide range of options when it comes to repaying your loan amount. You may choose to pay only gold loan interest monthly or quarterly and repay the principal amount at the end of your tenure. Another option is that you can pay instalments that comprise the principal as well as interest amount. Lastly, you may pay the interest at the start of your tenure and clear the principal amount later when you have the funds to do so. This makes managing your cash flow easy.
Convenient part-release facility
If you have pledged your gold ornaments or jewellery and need some of them back for an occasion or other reasons, Bajaj Finserv offers you a part-release facility. This way, you have the choice of getting back your pledged gold when you need it. Additionally, you can also get a top-up on your gold loan if you need more funds.
Attractive interest rates
Unsecured loans are readily available from several financial organisations. However, the main problem with such loan facilities is that they often have very high-interest rates. Fortunately, this is not the case with gold loans. The interest rates on gold loans are generally lower than those on unsecured loans because they are backed by actual gold jewellery. Reputable lenders like Bajaj Finserv offer gold loans with interest rates starting at just 0.83% per month.
No credit score dependency
Unlike unsecured loans, gold loans do not require a strong credit history or a high CIBIL Score. Lenders are more willing to give credit despite the low CIBIL Score since the gold jewellery serves as collateral for the loan. Depending on the price of gold on the market at the time, you may receive up to 75% of the value of your pledged gold.
Eligibility criteria and application for a gold loan from Bajaj Finserv
Any Indian citizen, between the ages of 21 and 70 with the necessary KYC documents can easily apply online and avail the loan. The only document that you need to avail of the loan service is your KYC documents.
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