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In summary:
- There is no strict minimum CIBIL score required for a gold loan
- Eligibility is based on the value of your pledged gold
- Borrowers with a low score, or limited credit history all can apply
- You need to be an Indian citizen aged between 21 and 80 years
- A single valid KYC document is all the paperwork required
What is a CIBIL Score?
Your CIBIL score is a three-digit number ranging from 300 to 900 that reflects how reliably you have managed credit in the past. A higher score indicates stronger creditworthiness. Factors such as timely repayments, responsible credit utilisation, a diverse credit mix, and a longer credit history all contribute positively to your score. For most unsecured loans — such as personal loans or business loans — lenders set a minimum CIBIL score as a prerequisite for eligibility. A gold loan works differently.
How to get a gold loan without a high CIBIL Score
A gold loan is a secured loan. When you pledge your gold jewellery, ornaments, or coins as collateral, the lender's risk is covered by the physical asset, not your repayment history. This is why there is no strict minimum CIBIL score for gold loan approval. Whether you have a low score, a limited credit history, or no credit profile at all, you can still apply and receive funds — as long as you have qualifying gold to pledge.
This makes a gold loan a practical option for a wide range of borrowers — salaried individuals, self-employed professionals, pensioners, and first-time borrowers who have not yet built a credit history.
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Gold loan eligibility: What actually matters
Gold loan eligibility: What actually matters
Since creditworthiness is not the deciding factor, eligibility for a Bajaj Finance gold loan is straightforward. You need to be an Indian citizen between the ages of 21 and 80 years. The gold jewellery or ornament you wish to pledge must be between 18-22 karats in purity. You can also pledge gold coins up to 24 karat purity. That is all.
To avail of a gold loan, you just any one of the following documents as proof of identity and residence:
- Aadhaar Card
- Voter ID card
- Passport
- Driving licence
- NREGA Job card
- Letter issued by National Population Register
Quick tip: Not sure if you qualify? Find out in moments— check your gold loan eligibility and plan your next move confidently.
Key benefits of a gold loan
Here are the key benefits of a gold loan:
Competitive interest rates
The gold loan interest rate at Bajaj Finance starts from just 9.50% to 24% per annum — significantly lower than most unsecured loan options. Use the gold loan calculator to estimate your eligible loan amount based on the weight and purity of your gold before applying.
High loan amount
You can borrow up to 85% of your gold's appraised value, with loan amounts ranging from ₹5,000 to ₹2 crore — giving you access to substantial funds without selling your jewellery, ornament or coins. The maximum LTV eligible for consumption loans per borrower depends on the loan amount and cannot be more than the limits given:
- For loans up to Rs. 2.5 lakh = LTV 75%
- For loans between more than Rs. 2.5 lakh to Rs. 5 lakh = LTV 80%
- For loans from more than Rs. 5 lakh up to Rs. 2 crore = 85%
Multiple repayment options
You can choose to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis. The principal and any pending interest are settled at the end of the tenure. There are no foreclosure charges, giving you the freedom to close the loan early without any penalty.
Free insurance of gold
Your gold is stored in secured vaults under 24x7 surveillance, with free insurance provided for the entire loan duration — so your gold is fully protected while it is with us. It is insured against theft, misplacement, burglary, and fire at branch while in our custody.
Gold loans provide a viable financing option for seeking quick access to funds, regardless of your credit score. So, do not let your credit score hold you back. Leverage the power of your idle gold jewellery to secure the funds you require.
Latest RBI updates
Section | Parameter | Applicable Details |
Eligibility Criteria | Gold purity accepted | 18-22 Karat for jewellery and ornaments |
24 karat for gold coins | ||
Eligible collateral types | Gold ornaments, jewellery, and coins | |
Eligible limit for each collateral type | Ornaments | Total pledged weight across all loans must not exceed 1 kilogram |
Gold coins | The total weight of gold coins pledged cannot be more than 50 grams. | |
Gold Jewellery | As per maximum loan amount. | |
Overall exposure limit | The total loan exposure across ornaments, jewellery, and gold coins together must not exceed the maximum loan limit of Rs. 2 crore. | |
Collateral protection
| Any loss, damage, or discrepancy in the quantity or purity of your pledged gold identified during audit, return, or auction will be recorded and promptly communicated to you or your legal heirs. The reimbursement or compensation process, as per company policy and SOP, will be clearly explained. Delays in collateral release due to lender fault will attract compensation of ₹5,000 per day. | |
Gold loan renewal | Renewal parameter | You can request renewal of your gold loan before maturity if it remains in standard status and within permissible LTV limits. This facility is available only to existing customers. For bullet repayment loans, accrued interest must be cleared. Renewals are subject to credit checks, fresh applicable charges, and are not allowed after maturity. |
Gold loan top up | Top up parameter | Top-up is allowed before maturity, subject to regulatory LTV limits, credit assessment, and customer eligibility. Fresh fees and charges apply. Top-up after maturity is not permitted, even if dues are outstanding. Top up facility is available only to existing users. |
LTV (Loan to Value) | For loans up to Rs.2.5 lakh | 85% |
For loans between more than Rs.2.5 lakh to Rs.5 lakh | 80% | |
For loans from more than Rs. 5lakh to Rs. 2 crore | 75% | |
Gold Value | Evaluation parameter | As per the latest guidelines, gold loans are offered against specific purity of gold jewellery, ornaments and gold coins, valued using lower of the average closing price for your gold's specific purity over the last 30 days or the previous day's closing price, as published by IBJA or a SEBI-regulated commodity exchange, within prescribed limits and subject to KYC and timely repayment. |
Gold loan application process
The gold loan application process is quick and hassle-free. With Bajaj Finance Gold Loan, you can either visit the nearest branch or apply online. The process involves submitting basic KYC documents along with your gold jewellery for valuation. Once the gold is assessed, the loan amount is sanctioned, and the money is disbursed to your account, often within one branch visit*. This smooth and transparent process makes gold loans one of the fastest financial solutions during urgent needs.
It takes just 2 steps to check your eligibility for a Bajaj Finance Gold Loan. Enter your mobile number now.
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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. *