Gold loan interest rate and applicable charges
| Types of fee | Applicable charges |
| Interest rate | 9.50% to 28% per annum |
| Processing fees | 0.12% of the loan amount (inclusive of applicable taxes). Subject to a minimum Rs. 99 (inclusive of applicable taxes) and maximum of Rs. 600 (inclusive of applicable taxes). |
| Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from loan amount |
| Cash handling charges | Rs. 50/- (inclusive of applicable taxes). Applicable for cash disbursement only. |
| Penal Charges | Rs. 8 per day on Outstanding Balance - Penal charge will be over and above the interest rate slab mentioned above which shall be applicable/chargeable in case of default in repayment of the Outstanding Dues post maturity. |
| Cash deposit charges | Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices. |
| PG facility charges | Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
| Convenience fee | Convenience fee of Rs. 149 (inclusive of applicable taxes) shall be levied for release of ornament/s out of multiple ornaments securing the Gold Loan. |
| Part-prepayment charges | NIL |
| Foreclosure charges | Minimum 7 days interest Scenario – Foreclosure charges are “0”, but in case the customer closes the loan within 7 days of booking, minimum 7 days interest is charged. |
| Auction charges | Charge for physical notice – Rs. 40/- (inclusive of applicable taxes) per notice Recovery charges – Rs. 500/- (inclusive of applicable taxes) Advertisement fee – Rs. 200/- (inclusive of applicable taxes) |
The interest rates applicable on gold loans are dynamic and frequently change due to external factors.
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How to apply for Gold Loan
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Frequently asked questions
Yes, you have the flexibility to choose how you want to repay your gold loan. Bajaj Finance offers multiple repayment options for your convenience. Here are the options you can consider:
- Pay only the interest amount: You can choose to pay only the interest portion of the loan on a monthly, bi-monthly, quarterly, half-yearly, or annual basis. Then, at the end of the loan tenure, you can settle the principal amount.
- Repay both interest and principal: Another option is to make regular instalments that include both the interest and principal components of the loan. This allows you to gradually repay the entire loan amount over time.
- Interest-first repayment: Alternatively, you can opt to pay the interest amount at the beginning of the loan tenure and repay the principal amount throughout the loan duration.
To make the right choice, it's advisable to discuss the available repayment options. This will help you plan your financial journey effectively and minimise the interest rate on your loan.
There is no minimum credit score required for a gold loan and it does not influence your gold loan eligibility.
To obtain a gold loan of Rs. 1 lakh, the quantity of gold needed depends on the current gold rate and the loan-to-value ratio provided. Bajaj Finance offers a loan-to-value of up to 75%, and since gold loan rates fluctuate, the amount of gold required will change with the prevailing market rate.
With Bajaj Finserv, you can get one of the lowest gold loan interest rates starting at just 9.50% p.a. The interest rates are the same for everyone and we do not provide any discount for any specific section of borrowers.
Yes, Bajaj Finance offers you the option to repay the entire amount or a part of your gold loan at no additional cost. Also, with our part-release facility, you can repay a part of your loan and take part of your ornaments back before the end of your gold loan tenure.
Since the agricultural gold loan is secured against physical gold jewellery, the interest levied on such loans is generally on the lower side. Bajaj Finance offers agricultural gold loan interest rates to farmers, starting from 9.50% p.a.
With Bajaj Finance, you can enjoy a low gold loan interest if loan amounts are high and repayments are frequent. So, when the loan is due, you can pay the principal amount all at once and get your gold jewellery back.
No, but you can get a gold loan at nominal gold loan interest rate by choosing a high loan amount or a high frequency of repayment. We also levy no foreclosure or pre-repayment charges, that further reduces the expenses incurred.
Let's say you choose a loan for Rs. 1,20,000 that you pay back each month. In this case, you might have to pay 10% per year in interest. Then, this is how your gold loan interest payments will look:
Rs. 1,20,000 * 10% = Rs. 12,000 annual interest
Monthly interest pay-out = Rs. 12,000/12 = Rs. 1,000 per month
Your gold loan rate of interest is determined by the loan amount and repayment frequency of your loan instalments. With Bajaj Finance, you can enjoy a low jewel loan interest rate if loan amounts are high, and repayments are frequent.
When you pledge 10 grams of gold, you can secure a loan amount equal to up to 75% of the current market value. At Bajaj Finance, you can enjoy interest rates on gold loans ranging from 9.50% to 28% per annum.
Typically, you can avail an amount equivalent to 75% of the current market value of your gold, as per the RBI guidelines. Bajaj Finance offers competitive gold loan interest rates, ranging from 9.50% to 28% per annum. To ensure accuracy while calculating interest rate on a gold loan worth 1 lakh, consider using our gold loan calculator to determine your exact interest amount.
Interest rates on gold loans in India can vary depending on factors such as the lender, loan amount, loan-to-value ratio, and loan tenure. Bajaj Finance offers one of the lowest gold loan interest rates in the market, starting from 9.50% per annum.
The current gold loan interest rate offered by Bajaj is 0.79%* per month which turns out to be 9.50% per annum.
The interest rates and charges for jewel loans, also known as gold loans, usually depends on the loan amount, loan-to-value ratio, loan tenure, and prevailing market conditions. However, the jewel loan interest rate offered by Bajaj finance against your gold jewellery starts from 9.50%* per annum.
To calculate the interest amount on a gold loan, you can use the following formula:
Interest Amount = Principal Amount × Rate of Interest × (Loan Tenure/12)
You can also use our online gold loan calculator to calculate your gold loan interest and loan term.
