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Gold loans: All you wanted to know

  • Highlights

  • Avail a loan against gold without selling your assets or dipping into savings

  • Eligibility criteria and documents needed to apply for Gold Loan

  • Select your tenor and repayment method as per your convenience

  • Get a part release feature with Bajaj Finserv Gold Loans.

Being ready for unforeseen circumstances and having a solid financial plan in place to deal with a crisis, big or small, is essential. For instance, you may need money at the last minute to pay for an unforeseen expense related to your child’s wedding or to fund their higher education without dipping into your savings. In such a scenario, you can utilise your investment in gold to raise funds. You can get a loan against your gold easily, by pledging it as security with Bajaj Finserv.

So, instead of selling your gold, or any other asset, avail the Bajaj Finserv Gold Loan to meet your financial requirements while retaining ownership of the gold. To understand it better, look at the answers to some of the common questions that you may have.

Who is eligible to apply for a gold loan?

Bajaj Finserv makes it extremely easy for you to apply for this loan. You only have to meet basic criteria to be eligible. You can apply can apply for a Bajaj Finserv Gold Loan if you are a farmer, trader, self-employed or salaried professional, between the ages of 21 and 70 years.

What documents do I have to submit and how can I apply?

Once you have checked your eligibility, you can apply for a gold loan by submitting your KYC documents. Visit the nearest branch to do so, or ask for the doorstep application service. If you are comfortable with using the internet, you can apply online as well.

How is my gold valued? Is pledging my gold a safe option?

Before issuing the loan, Bajaj Finserv will check the purity of gold using a carat meter and will also measure the weight. For extra safety, the NBFC carries out in-house evaluation and protects your asset by storing it in world-class strong rooms. This means that you have nothing to worry about when it comes to safety.

What are the terms of repayment with regards to this loan?

With Bajaj Finserv, you are free to choose your repayment tenor as per your financial condition. You can select a flexible tenor ranging up to 240 months and repay loan as per your convenience. You can also choose to pay interest only, on a monthly or quarterly basis, and repay the principal at the end of tenor. Or, you can pay the total interest amount at the start of your loan tenor and pay the principal amount at the end of your tenor.

Do I have to pay any extra fees and charges?

Apart from a low interest rate and a high loan value of Rs.10 lakh, Bajaj Finserv ensures that the cost of borrowing remains low. There are no hidden charges, and you can choose to part-prepay your loan or foreclose it at no extra charge.

Does a gold loan have a part release facility?

Should you need access to some of the gold ornaments that you have pledged, Bajaj Finserv allows you to withdraw ornaments partially during the tenor.

Gold is one asset that most Indians invest in. So, when a need for funds arises, check the pre-approved loan offer with its fast 1-step verification that Bajaj Finserv offers and raise the amount you need as per your convenience, without any stress or hassle.

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