The gold price today in Sikar plays an important role in estimating the value of your pledged gold. If gold prices increase, the same jewellery may support a higher eligible loan amount. If prices fall, the eligible amount may also reduce. The final loan amount depends on the applicable LTV ratio, the purity of your gold, and the lender's valuation process.
As the gold price today in Sikar changes regularly, check your gold loan eligibility to estimate how much you may be able to borrow based on your eligible gold.
What decides your eligible loan amount?
Your eligible amount comes down to:
- Gold weight
- Gold purity
- The applicable rate on assessment day
- The Loan-to-Value (LTV) ratio
Only the pure gold content is considered during valuation. Stones, enamel, and other decorative elements are excluded.
The final loan amount depends on the eligible LTV, the actual purity of your gold, and the lower of the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange. LTV requirements must be maintained throughout the loan tenure and may change in line with RBI guidelines or lender policy.
Along with the eligible loan amount, the gold loan interest rate is another important factor to consider when planning your borrowing. The applicable LTV slab varies based on the loan amount. Click here to learn more.
Gold loan basics: what you should know before applying
With Bajaj Finance, you can borrow from Rs. 5,000 to Rs. 2 crore against your gold jewellery, ornaments, and gold coins. The gold loan interest rate starts from 9.50% per annum.
Jewellery and ornaments are accepted between 18-22 purity. Gold coins are accepted up to 24 karat purity. Your gold is stored in secure vaults with insurance cover for the entire loan duration.
A few things worth knowing before you apply:
- Your loan amount is based on the weight and purity of your gold, not what you originally paid for it
- Bajaj Finance uses the lower of the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange
- Only one valid KYC document is required: Aadhaar card, Voter ID, passport, driving licence, NREGA job card, or a letter from the NPR
- Under bullet repayment, both the principal and interest are paid at maturity, while under regular repayment, interest is paid every six months as per the repayment schedule and the principal is paid at maturity
- There are no foreclosure charges; you can close the loan early without any penalty
Before applying, use the gold loan calculator to estimate your eligible amount, or check gold loan eligibility online to understand your borrowing capacity based on today's gold rate in Sikar, gold purity, and weight.
Ready to unlock the value of your gold? Apply for Bajaj Finance Gold Loan today.
