Navigating financial challenges in later stages of life can be daunting, but for senior citizens, a gold loan offers an easy financial option. With its simplicity and accessibility, a gold loan provides a lifeline for retirees looking to strengthen their finances.
What is the upper age limit for gold loan?
Any Indian citizen aged between 21 and 70 years are eligible to avail a gold loan. Unlike other loan options, whether secured or unsecured, this loan does not require applicants to meet strict eligibility criteria.
What is the interest rate on gold loans for senior citizens?
With Bajaj Finance, the interest rate for gold loans for senior citizens ranges from 9.50% p.a. to 26% p.a. The rate may depend on factors such as the loan amount, loan-to-value ratio, tenure, and individual creditworthiness.
The applicant can choose to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis as per their convenience. Please note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity.
How to apply for a gold loan?
To apply for a gold loan, you need to follow a few simple steps:
- Click on ‘APPLY’ to open our online application form
- Enter your 10-digit mobile number and click on ‘GET OTP’
- Submit the OTP to verify your identity
- Select your state and city to find the branch nearest to you
- Enter your full name and date of birth as per your PAN
- Set up your appointment at our branch
Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.
