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A gold loan is a secured loan where you pledge eligible gold as collateral to borrow funds without selling it. The gold loan meaning refers to this borrowing arrangement.
Here’s what a gold loan is and how the process works, explained in simple points:
Manage planned and urgent expenses with ease. Check your gold loan eligibility now and make your gold work for your needs.
Key takeaways
Here is the key information about gold loan and the benefits of availing it:
The affordability of a gold loan largely depends on the gold loan interest rates you are offered. At Bajaj Finance, the interest rates starting from 9.50% to 24.25% per annum. The final rate is based on factors such as the loan amount, repayment tenure, and your gold’s value.
Here is a breakdown of the fees and charges that may apply to your gold loan:
| Types of fee | Applicable charges |
| Interest rate | 9.50% to 24.25% per annum |
| Processing fees | 0.20% of the loan amount (inclusive of applicable taxes). Subject to a minimum Rs. 150 (inclusive of applicable taxes) and maximum of Rs. 1000 (inclusive of applicable taxes). |
Ready to unlock the value of your gold? Apply for Bajaj Finance Gold Loan today.
Understanding gold loan details and eligibility requirements can help you prepare before applying. Generally, applicants must be Indian citizens who meet the lender’s prescribed age criteria and pledge eligible gold jewellery, ornaments or accepted gold coins of the required purity.
The gold loan amount is assessed based on the weight, purity and value of the pledged gold, as per the lender's valuation process.
To complete the application, you need to submit any one valid KYC document, such as:
Reviewing these gold loan details in advance can help make the application process quicker and more convenient.
Pro tip: Once you meet the eligibility requirements, check your gold loan eligibility to estimate the loan amount you may be able to receive against your gold.
To get a gold loan from Bajaj Finance, you can apply online, and we will call you and guide you on the next steps or you could simply visit the nearest gold loan branch in your city. After exploring all about gold loan, let's learn about the application process involved in applying online. Below are the mentioned steps to apply for gold loan:
Once done, you will receive a call from our representative to guide you on the next steps.
Quick tip: Turn your gold into instant support—handle any expense with ease. Check your gold loan eligibility and access funds when you need them most.
Yes, you can foreclose your Bajaj Finance Gold Loan at any time. There are no additional foreclosure charges, making it easy to close your loan whenever you have the required funds.
Bajaj Finance Gold Loan offers flexible repayment tenures ranging from 1 day to 12 months. You can choose a tenure that suits your convenience for comfortable repayment.
If you miss the due date, additional interest and late payment charges may apply. It is best to pay on time to avoid extra costs and ensure your gold remains safe from auction.
You can repay a Bajaj Finance Gold Loan through multiple options like monthly, bi-monthly, quarterly, half-yearly, or a single payment of principal and interest at the end of the tenure. The repayment process for gold loan depends on the frequency chosen by you. You can choose to repay the loan online easily via the Bajaj Finance App or website and check the status of your loan easily.
The minimum amount for a Bajaj Finance Gold Loan is Rs. 5,000, and the maximum amount can go up to Rs. 2 crore, depending on the value of your gold jewellery.
The gold loan amount is calculated based on the purity and weight of your gold jewellery and the current gold rate. Higher purity and weight mean a higher loan amount.
You can calculate your gold loan eligibility using the online gold loan calculator on Bajaj Finance App or website. Enter the weight and purity of your gold to get an instant estimate.
To understand what is loan against gold, let us understand the rule for it. The main rule is that you pledge gold jewellery to get funds. Bajaj Finance checks its purity and weight, then offers a loan amount based on the current gold rate.
It is important to understand the gold loan details to make a choice. It is good if you need quick funds without selling your ornaments. It is secure, offers multiple repayment options, and keeps your gold safe with Bajaj Finance until repayment.
Bajaj Finance Limited (BFL) has the sole and absolute discretion, without assigning any reason to accept or reject any application as per BFL policy. *
