Reactivate your gold loan account number

Gold loan account number: Everything you need to know

A Gold Loan Account Number is a unique identification number assigned to borrowers when they avail of a gold loan from a bank or financial institution. This number is essential for tracking loan details, making repayments, and managing transactions efficiently. Whether you need to check your outstanding balance, make prepayments, or receive loan-related updates, your gold loan account number serves as a crucial reference.

Financial institutions use this number to maintain loan records and ensure seamless communication with borrowers. However, many borrowers face confusion regarding account deactivation, missing payments, or updating loan details. Understanding why your gold loan account might be deactivated and how to resolve such issues can help you manage your loan effectively.

In this guide, we’ll explore why gold loan accounts get deactivated, the common reasons behind it, and what you can do to reactivate your account or prevent deactivation.

Why do gold loan accounts get deactivated?

A gold loan account is an essential part of managing your gold-backed loan, allowing borrowers to track their loan status, make repayments, and receive notifications. However, in certain situations, a gold loan account may get deactivated, causing inconvenience to the borrower. Understanding the reasons behind this deactivation can help prevent disruptions and ensure smooth loan management.

1. Full loan repayment and closure

One of the most common reasons for account deactivation is complete repayment of the loan. Once the borrower repays the entire principal amount along with interest, the lender closes the account and returns the pledged gold. After closure, the gold loan account number is no longer active.

2. Loan default or non-payment

If a borrower fails to make timely repayments, financial institutions may deactivate or freeze the loan account. Continuous non-payment can lead to:

Account deactivation due to default.

Auction of pledged gold to recover the outstanding amount.
To prevent this, borrowers should ensure they make regular EMI payments or discuss restructuring options with the lender.

3. Dormant or inactive account status

Some lenders deactivate a gold loan account if it remains inactive for an extended period after loan closure. If the account is unused and no transactions occur, the system may automatically mark it as dormant or closed for security reasons.

4. Incorrect or expired documentation

Gold loan accounts may also get deactivated if there are issues with borrower documentation, such as:

KYC (Know Your Customer) documents not updated

Mismatch in provided details

Expired ID proof or address proof
Updating KYC details and ensuring accuracy in documents can help keep the account active.

5. Change in bank or loan provider

If a bank or financial institution merges, shuts down, or transfers loan services to another provider, existing gold loan accounts might be deactivated. Borrowers should check with the lender for updated account details.

How to reactivate a gold loan account?

Contact the lender’s customer service to check the deactivation reason.

Update necessary documents and verify loan details.

Clear outstanding dues if applicable.

Request reactivation or new account details from the lender.

By staying informed about gold loan account deactivation, borrowers can take proactive steps to avoid unnecessary issues and ensure a smooth loan experience.

Steps to reactivate your gold loan account number with Bajaj Finserv

If your gold loan account number with Bajaj Finserv has been deactivated due to non-payment, documentation issues, or loan closure, you may need to reactivate it to resume transactions or access loan-related details. Below are the essential steps to reactivate your account smoothly.

Step 1: Visit the bank or lender’s branch

Go to your nearest Bajaj Finserv branch or contact customer service for guidance on reactivation.

Carry your loan account details and identity proof to verify your credentials.

If you cannot visit the branch in person, check if online or phone-based reactivation options are available.

Step 2: Submit required documents

Lenders may require updated KYC documents such as:

Aadhaar Card or PAN Card (for identity verification).

Address proof (electricity bill, rental agreement, etc.).

Loan agreement copy (if applicable).

If the account was deactivated due to incorrect or expired documentation, submitting the required papers will help resolve the issue.

Step 3: Pay any due charges or penalties

If the deactivation occurred due to missed EMI payments or default, settle any pending dues, penalties, or foreclosure charges to reactivate your account.

You may also need to pay reactivation fees, depending on the lender’s policies.

Once payments are cleared, ask for a confirmation receipt to ensure your account is reactivated without delays.

Additional steps:

Check account status: After completing these steps, confirm that your gold loan account number is active.

Update contact details: Ensure your registered mobile number and email ID are correct to receive loan updates.

Set up automatic payments: Enable auto-debit or standing instructions to prevent future account deactivation due to missed payments.

Following these steps will ensure your gold loan account is reactivated with Bajaj Finserv, allowing you to manage your loan efficiently and avoid disruptions in repayment or gold retrieval.

What documents are required to reactivate a gold loan account?

If your gold loan account has been deactivated due to non-payment, documentation issues, or inactivity, you must submit certain documents to reactivate it. Ensuring you have the correct paperwork ready can help speed up the process. Below are the essential documents required for reactivation:

1. Identity proof (KYC Documents)

Aadhaar Card

PAN Card (mandatory for high-value loans)

Voter ID, Passport, or Driving License (alternative ID proofs)

These documents verify your identity and ensure compliance with the lender’s KYC requirements.

2. Address proof

Utility bills (electricity, water, or gas bill)

Bank statement with address

Rental agreement or property ownership papers

If your account was deactivated due to an address mismatch, updating your address proof can help resolve the issue.

3. Gold loan account details

Loan account number and agreement copy (if available)

Any previous payment receipts or loan transaction history

Providing your account details helps the lender quickly locate and verify your loan status.

4. Bank account details

Cancelled cheque or bank passbook copy

Updated bank account statement (if required)

These details are necessary if you need to change your repayment method or if there was an issue like Double EMI Deduct for gold loan.

5. Loan repayment proof (if applicable)

Proof of pending dues clearance

Payment receipts for any penalties or overdue amounts

If your account was deactivated due to non-payment, submitting repayment proof ensures that your lender updates your status accordingly.

6. Additional documents (if required by lender)

Income proof (for specific cases)

Written request for reactivation

Any communication received from the lender regarding deactivation

For smooth reactivation of your gold loan account, ensure all documents are up to date. You can also explore the Bajaj Finserv Gold Loan Service for better loan management.

Conclusion

Reactivating a gold loan account requires submitting the necessary KYC documents, loan details, and pending dues clearance to the lender. Ensuring your records are up to date can help avoid delays and disruptions in loan management. If you face issues like Double EMI Deduct for gold loan or need assistance with repayment, reaching out to customer support is essential. Additionally, borrowers can efficiently manage their accounts through the Bajaj Finserv Gold Loan Service. By staying proactive, you can prevent account deactivation and enjoy a hassle-free loan experience