How and When can I Get Back the Pledged Gold Ornaments

How to get back pledged gold ornaments? 

When you take a gold loan, you pledge your gold ornaments with the lender as security. These ornaments stay safely with the financial institution until you clear your loan. To get your pledged gold back, you simply need to repay the full loan amount along with the interest and any applicable charges. Once the repayment is done, the lender releases your jewellery and hands it back to you. It is as straightforward as that. Just remember, making timely repayments is important, because it not only helps you recover your ornaments on time but also protects them from the risk of being auctioned in case of non-payment. 

What type of gold can I pledge? 

The form and purity of gold are of critical importance when it comes to applying for a gold loam. Jewellery is the most common form of gold used by individuals to avail funds. As for the purity level of gold, Bajaj Finance accepts only 18-22 karat gold to extend funding.

The gold loan per gram rate for any given day determines the maximum loan amount you can avail.  With us, you can get up to 75% loan-to-value (LTV) of the gold. It means that if the per gram market value of gold for the day is Rs. 1,500, each gram of gold in the ornament can fetch up to Rs. 1,125 as a gold loan. The market rate of gold per gram also impacts the gold loan interest rates applicable. 

When can I get back my gold ornaments? 

When you pledge your gold ornaments, you hand over the jewellery and its transaction rights to the lender until you clear the entire loan amount. Once you repay in full, you get back complete possession of your gold through a simple release process. With a Bajaj Finserv Gold Loan, you also get the added benefit of a part-release facility. This means you can take back a portion of your pledged gold by repaying an equivalent loan amount, without waiting to close the full loan. It is especially handy during emergencies, giving you the flexibility to access your jewellery while still keeping your loan active. 

Pro-tip: Do not let your jewellery sit idle—tap into its value with a gold loan that suits your needs. Apply for a gold loan today!