What documents are required to take a Bajaj Finserv Gold Loan

Learn all about the application and documentation process for a gold loan.
What documents are required to take a Bajaj Finserv Gold Loan
2 min read
21 September 2023

Obtaining funds against gold is one of the most common practices of attaining instant funds in India. Lenders disburse money against the security of gold submitted with them as collateral. Benefits like 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.

A gold loan can be a reliable source of credit in times of financial emergencies. To avail of a loan amount starting from Rs. 5,000 up to Rs. 2 crore, you just need to meet a few basic eligibility parameters. You need to be an Indian citizen aged between 21 and 70 years, with your KYC documents ready while applying for a gold loan.

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

With the COVID pandemic, 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.

Gold loans generally have no credit dependency. Hence, people with low credit sore 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 documents required to get a gold loan.

  • Aadhaar Card
  • Voter ID card
  • Driving licence
  • Passport
  • NREGA job card
  • Letter from National Population Registration

Note that lenders may ask 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 and 70 years.
  • The applicant can be a salaried person, business owner, farmer, trader, homemaker etc.

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 can also choose to repay the principal sum at the end of the tenure. Alternatively, you can pay the entire interest amount at the beginning of the tenure and repay the principal amount later. Also, you can choose to repay the loan in instalments involving both principal and interest components.

How to apply for a gold loan from Bajaj Finserv?

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 first and last name as it appears on your PAN card
  • Step 4: Enter your 10-digit mobile number and select your city
  • Step 5: Enter the OTP that was sent to your registered mobile number and submit the application
  • Step 6: Set up your appointment at the nearest gold loan branch office from the options displayed

It really is that easy. Apply for a gold loan and manage your expenses with ease by visiting the Bajaj Finance website.


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