Gold prices in Pune influence the value of eligible gold pledged as collateral and the loan amount you may receive. When gold prices rise, the assessed value may increase, potentially allowing a higher loan amount. When prices fall, the eligible amount may decrease. The final loan amount depends on gold purity, net weight, the applicable loan-to-value (LTV) limit and lender eligibility criteria.
What decides your eligible loan amount?
Your eligible gold loan amount depends on the assessed value of your gold and the applicable lending limits. Key factors include:
- Gold purity: Eligible 18-22 karat jewellery and ornaments, and gold coins up to 24 karat, may be accepted.
- Net gold weight: Stones, gems and other non-gold materials are excluded from valuation.
- Applicable gold rate: The lender uses the relevant benchmark price to assess your gold's value.
- LTV limit: The maximum loan amount depends on the applicable LTV limit for your loan size.
- Interest rate and charges: Review the gold loan interest rate and applicable charges before applying.
Please note: We do not simply use today's headline rate. As per latest RBI guidelines, we use whichever is lower between 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 gold’s value. This protects you from a sudden price spike inflating things unrealistically.
The maximum LTV eligible for a loan depends on the loan amount and cannot be more than the limits given. To know more, click here.
Gold loan: what you should know before applying
If you are considering a gold loan in Pune, here are the key details to know before applying.
Bajaj Finance offers gold loans from Rs. 5,000 up to Rs. 2 crore against eligible gold jewellery, ornaments and coins. The gold loan interest rate starts at 9.50% per annum.
Eligible jewellery and ornaments must be 18-22 karat, while gold coins are accepted up to 24 karat purity. Your gold is stored in secure vaults and insured throughout the loan tenure.
Before applying, remember:
- Your loan amount depends on your gold's net weight, purity, assessed value and applicable LTV limit.
- Gold valuation uses the lower of the previous day's closing price or the 30-day average closing price for the same purity, published by IBJA or a SEBI-regulated commodity exchange.
- You must provide valid KYC documents.
- Under bullet repayment, the principal and interest are paid at maturity. Under regular repayment, interest is paid every six months as scheduled, and the principal at maturity.
- No prepayment or foreclosure charges apply.
Use the gold loan calculator to estimate your loan amount, or check your gold loan eligibility based on the current gold rate in Pune, purity and net weight.
Quick tip: Turn your gold into instant support—handle any expense with ease. Check your gold loan eligibility and access funds when you need them most.
