What requirements must I meet, to apply for a Bajaj Finserv Gold Loan?

2 min read
20 Apr 2023

Taking a loan against your gold jewellery is a great way to get an instant loan, without compromising the ownership of your asset. Whether it is for a medical emergency, expansion of your business, higher education, or any other expense, a gold loan is a handy way to meet all your financial needs.

Gold loans are a popular choice among people with limited credit history or low credit scores since the loan amount is based on the value of the gold. Since a gold loan is secured against your gold jewellery as collateral, gold loan interest rates are comparatively lower than the unsecured loans.

With Bajaj Finance, you can avail of a loan starting from Rs. 5,000 Up to Rs. 2 crore. We also offer quick and hassle-free approval with less paperwork. Anyone can apply for a Bajaj Finserv Gold Loan, as long as they meet the basic eligibility parameters.

Eligibility criteria to get a gold loan

If you are an Indian citizen aged between 21 and 70 years, you can apply for our gold loan. All you need is your pure gold jewellery, valued at 18-22 karat, at your disposal. Apart from that, you just need your passport size photographs and any one of the following documents handy as your identity and address proof:

  • Aadhaar Card
  • Voter ID card
  • Passport
  • Driving licence

However, if you apply for a loan above 5 lakh, you will need to submit your PAN card as well.

We our hassle-free application and quick approval process, you can apply for a gold loan online in a few simple steps. We will set up an appointment and keep everything ready by the time you visit your nearest gold loan branch.

Once you have an idea about your eligibility, you can also apply for the gold loan on our website itself. Follow these simple steps to apply for a gold loan:

Step 1: Visit the gold loan section of the website.

Step 2: Click on the ‘APPLY’ button to open the online application form.

Step 3: Enter your name and mobile number.

Step 4: Type the name of your city and select the branch closest to you.

Step 5: Submit the OTP sent to your phone and complete the online process.

Additionally, it is important to note that currently we do not accept gold coins, bars, mixed metals, utensils, etc. as collateral against gold loans.

Read Also: How to get a quick loan against gold jewellery

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Frequently asked questions

How does your occupation affect your eligibility for a gold loan?

No, generally your occupation does not affect your eligibility to avail of a gold loan. Since the loan is backed by your gold jewellery, you do not need to undergo extensive credit checks. This easy eligibility criteria of gold loan helps people with varying credit histories, or no credit scores to access the funds they require.

Can I use gold coins for a gold loan?

No, obtaining a loan against gold coins doesn't align with the eligibility criteria for gold loans offered by Bajaj Finance. It is preferable to opt for a gold loan against gold jewellery because it offers several advantages. It's easier to assess the quality and authenticity of gold jewellery compared to other forms of gold.