What is the Processing Fee for a Gold Loan?

Processing charges for a gold loan

Gold loans are affordable financing options that offer competitive interest rates and other associated charges. You must check applicable charges like gold loan processing fees when deciding on a suitable loan offer to assess affordability.

You can use our online gold loan calculator to determine your maximum loan liability to meet per month. Accordingly, you can select a suitable financing option from the available gold loan offers.

Applicable gold loan processing fees

Thanks to improved customer-friendly features, our gold loan is now available at low minimal processing fees of up to 0.20% of the loan amount (inclusive of applicable taxes) for a gold loan.

This fee is subject to a minimum Rs. 150/- (Inclusive of applicable taxes) and maximum of Rs. 1000/- (Inclusive of applicable taxes)

Other charges levied on the advance include:

• Stamp duty charges
• Penal charge (In the case of delay in scheduled repayment)
• Convenience fee of Rs. 149 (inclusive of applicable taxes) shall be levied for part release of ornament(s) pledged.
   

Know about interest charged on gold loans

In addition to the processing charges, borrowers are also responsible for paying interest on the gold loan amount. The gold loan interest rate may vary based on factors such as the loan-to-value ratio, tenure, and prevailing market conditions.

As secured advances, gold loans attract low rates of interest as against several unsecured advances availed for the same purpose. With Bajaj Finance, you can avail of a gold loan at interest rate starting from 9.50% to 24% per annum.

You have multiple gold loan repayment options, wherein you can choose to pay interest only initially and postpone principal repayment until the end of the gold loan tenure. It allows the flexibility of managing finances as per your repayment capacity.

With Bajaj Finance, you can obtain a high-value gold loan of up to Rs. 2 crore easily, catering to your financial needs. Your valuable gold jewellery, ornaments or coins is securely stored in state-of-the-art vaults, safeguarded by round-the-clock surveillance. Additionally, you can rely on the appraisal process for your gold to be precise and transparent. Bajaj Finance has advanced karat metres, ensuring that you receive the best possible value for your gold as the loan amount. Loan amount is based on eligible LTV, actual purity, and the lower of the previous day’s closing price or 30-day average price (published by IBJA or SEBI-regulated exchange).

As long as you are an Indian citizen aged between 21 and 80 years, you can easily apply for a Bajaj Finserv Gold Loan. You only need to submit one of the accepted KYC documents, including your Aadhaar Card, voter ID card, driving license, passport, NREGA job card, or a letter from the National Population Registration.

Ready to unlock the value of your gold? Apply for Bajaj Finserv Gold Loan today.

Advantages of applying for a gold loan from Bajaj Finance

Here are some common advantages of a gold loan:

Low interest rates

Low interest rates on a gold loan can impact your borrowing experience significantly. With Bajaj Finance, for instance, you can access funds at competitive rates, starting from just 9.50% to 24%* p.a., making it an affordable solution for your financial needs. This can help you save on interest costs, manage your expenses, and ensure a smooth repayment experience.

Convenient repayment options

We offer multiple gold loan repayment options where you may choose to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis as per your convenience. Please note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity. The gold loan repayment tenure can range from 1 day to 12 months.

Minimal paperwork

The eligibility requirements for a Bajaj Finserv Gold Loan are fairly simple. You just need to provide the KYC documents for gold loan, like your Aadhaar Card, voter ID card, passport, driving licence, NREGA job card, or a letter from the Nation Population Registration as proof of identity and residency.

Gold loan renewal

You can apply to renew your gold loan before the maturity date if your loan is in standard status and within the permitted LTV limit. This option is available only to existing gold loan customers. For bullet repayment loans, any accrued interest must be paid before renewal. All requests are subject to credit checks, and applicable fees or charges may apply. Renewal is not allowed after the loan has matured.

Gold loan top-up

You can request a top-up on your existing gold loan before the maturity date, subject to credit assessment, LTV limits, and the loan being in standard status. This facility is available only to existing gold loan customers. Top-up requests are not permitted after the loan has matured, even if there are outstanding dues. 

From planned needs to sudden costs, your gold has you covered. Check your gold loan eligibility now and unlock immediate financial support.