What are the Documents Required to Take a Bajaj Finserv Gold Loan

What are the documents required for a gold loan from Bajaj Finance?

In the recent times, the demand for gold loans have skyrocketed. Many small business owners and middle-class families, significantly affected by this nationwide crisis, took resort to gold loans as a reliable form of credit. Benefits like gold loan multiple repayment options, free insurance of gold, instant disbursal, no end-use restrictions, make gold loan wise choice for borrowers in need of quick money.
 

Since the gold loan is secured against physical gold jewellery, it generally doesn't have a strict credit dependency. Hence, people with gold loan low credit score and no credit history can also apply for this loan easily. The amount of loan you can avail of depends on the purity of gold pledged and the LTV value offered by your lender.

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 70 years.
• The applicant must have 18-22 karat gold jewellery to pledge.

Availing of a gold loan from Bajaj Finance will allow you to secure a sizeable loan amount against gold at an affordable interest rate and simplified loan terms. To apply for a loan, you just need to pledge your 18-22 karat gold jewellery as collateral and get the jewellery evaluated at the nearest gold loan branch. Since the loan is secured against physical gold assets, these loans come with low rate of interest as compared to the unsecured loans.

Since taking a loan can affect your financial situation, it is advised to use an online gold loan calculator to determine the instalments you can afford. The tool helps you 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, coins, idols, or utensils, as collateral against the loan.

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 jewellery 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. Apply for a gold loan and manage your expenses with ease by visiting the Bajaj Finance website.