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Get quick funds by pledging your gold
Pledging gold for quick funds is a common and reliable way to meet urgent money needs in India. A gold loan can be your go-to option during emergencies, offering fast access to cash without complex requirements. With Bajaj Finance, you can borrow anywhere from Rs. 5,000 to Rs. 2 crore by meeting just a few simple eligibility criteria. Minimal paperwork and straightforward requirements make the entire process quick, transparent, and hassle-free, helping you get funds exactly when you need them most.
What are the documents required for a gold loan from Bajaj Finance?
Gold loans have seen a sharp rise in demand recently, with many middle-class families turning to them as a reliable form of credit. Benefits like multiple repayment options, free insurance of gold, quick disbursal, and no end-use restrictions make a gold loan a smart choice when you need quick funds.
Since a gold loan is secured against physical gold, it generally does not depend heavily on your credit history. This means people with low credit scores can also apply, though the loan terms may get impacted. The loan amount you can avail depends on the purity of the gold pledged, the gold rate, and the LTV offered by your lender.
To value your gold, lenders use whichever is lower — the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange. This protects you from a sudden price spike inflating the valuation unrealistically, while also protecting the lender from the opposite risk.
Please note that the maximum LTV eligible for your loan depends on the loan amount and cannot exceed the applicable limits. To know more, click here.
Here is a list of basic KYC documents for gold loan required to apply.
- Aadhaar Card
- Voter ID card
- Driving license
- Passport
- NREGA job card
- Letter issued by the National Population Registration
Note: Though PAN card is not a mandatory document, for loan amount of Rs. 5 lakh or above you may be asked to submit the PAN card. You may be asked for income proof along with other documents if required. Apart from furnishing the documents, you must meet the basic gold loan eligibility criteria to ensure a hassle-free application.
The eligibility requisites for gold loans include:
- The applicant must be an Indian citizen.
- The applicant must be aged between 21 to 80 years.
- The applicant must have 18-22 karat gold jewellery or ornaments to pledge.
- The applicant can also pledge gold coins up to 24 karat purity
Since taking a loan can affect your financial situation, it is advised to use an online gold loan calculator to determine the repayment instalments you can afford. The tool helps you to calculate the amount of gold required to get the desired amount, along with the applicable gold loan interest rates on the chosen repayment schedule. However, one must note that currently we do not accept gold bars, idols, or utensils, as collateral against the loan. Stones, enamel, or any decoration on your jewellery do not count towards your loan value. Only the actual gold content is assessed.
With Bajaj Finance, you can choose to pay gold loan interest monthly, bi-monthly, quarterly, half-yearly and annually. You will have to pay the principal and pending interest, if any, at the time of loan maturity.
Pro tip: Do not let your gold sit idle—tap into its value with a gold loan that suits your needs. Check your gold loan eligibility today!
How to apply for a gold loan from Bajaj Finance?
All you need to do is visit a Bajaj Finance branch near you or apply online by going to the Bajaj Finance website and following these simple steps:
- Step 1: Visit the Gold Loan section of the website
- Step 2: Click on the online application form
- Step 3: Enter your 10-digit mobile number and OTP
- Step 4: Submit the OTP
- Step 5: Fill in your personal details and choose the nearest gold loan branch
- Step 6: Download the in-principal loan eligibility letter
It really is that easy. Once done, a Bajaj Finance representative will contact you and guide you on the next step.
Calculate your gold loan
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Eligibility for gold loan
To meet our easy gold loan eligibility requirements, you just have to be an Indian citizen, between 21 to 80 years, with 18-22 karat gold jewellery or ornaments to pledge. You can also pledge gold coins up to 24 karat purity. For more details, click here.
How to apply for a gold loan
Applying for a gold loan with us is simple and straightforward.
With Bajaj Finance, you can apply for a gold loan by visiting the nearest branch in person or online through the Bajaj Finance app or website, right from your home. To know more about the online process, click here.
It takes just 2 steps to check your eligibility for a Bajaj Finance Gold Loan. Enter your mobile number now.
Frequently asked questions
Gold Loan
Yes, you can get a gold loan without jewellery bill. You can secure a loan amount ranging between Rs. 5,000 up to Rs. 2 crore based on the assessed value of your gold.
The gold loan tenure at Bajaj Finance ranges from 1 day to 12 months. This convenient term allows you to choose a repayment period that suits your needs, making it convenient for you to repay the loan with ease.
The loan amount you can get on 10 grams of gold depends on factors like gold's purity, repayment tenure and the interest rates. To find out the exact amount, you can use our gold loan calculator. Just input your gold's details, and it will give you an estimate of the loan you can secure against your gold.
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Disclaimer
Bajaj Finance Limited (BFL) has the sole and absolute discretion, without assigning any reason to accept or reject any application as per BFL policy. *