Gold has always been a valuable asset, and with the increasing value of gold in the market, its demand has risen. In times of financial emergencies, many people have turned to gold loans as a convenient way to access instant funds. Whether you require a small loan or a substantial amount, gold loans can cater to a wide range of borrowing requirements. With Bajaj Finance, you can get a gold loan starting from Rs. 5,000 up to Rs. 2 crore, depending on the value of your gold jewellery.
Leveraging your gold jewellery to meet your financial goals is a smart move, but it is important to keep in mind some key factors before availing one.
Gold loan interest rates
The first and foremost factor to consider before availing a gold loan is the interest rate offered by the lender. Different lenders charge varying interest rates, but the interest rate should be reasonable and affordable. Be sure to research and compare interest rates offered by different lenders to get the best deal. It is important to remember that high-interest rates can lead to a higher repayment amount in the long run. With Bajaj Finance you can get a loan against your 18-22 karat gold jewellery with the gold loan interest rates starting at 9.50% p.a.
Gold loan per gram
The amount of money that you can borrow against your gold jewellery will vary according to the per gram rate of gold. Ensure that you choose a lender that offers maximum value for your gold. With a Bajaj Finance Gold Loan, you can get a high loan amount of up to 75% of the estimated weight of your pledged gold jewellery.
Loan repayment schedule
When opting for a gold loan, it is crucial to consider the repayment options. It is important to find a lender that provides the flexibility needed to meet your specific repayment requirements. Bajaj Finance offers customers a considerable level of flexibility when it comes to loan repayment. You have a range of options to choose from, including monthly, bi-monthly, quarterly, half-yearly, or annual repayments. This freedom enables you to repay the loan at a pace that suits you best.
Loan amount
Another factor to keep in mind before availing a gold loan is the loan amount. Do not borrow more than what you need to avoid paying an unnecessarily high interest rate. The lender will determine the loan amount based on the appraisal of your gold assets, so it is important to know the current market value of your gold. You can obtain an appraisal from a trusted jeweller or the lender, and ensure you have an accurate estimate of your gold's worth.
Security measures
Ensuring the safety of your gold jewellery and protecting it from fraud is of utmost importance. Choosing a financial lender that offers comprehensive security measures for your gold until the loan is fully paid off is crucial.
Bajaj Finance takes this responsibility seriously by storing pledged gold jewellery in secure vaults equipped with constant surveillance. Additionally, Bajaj Finance provides the added advantage of free insurance coverage for the pledged gold jewellery. This not only gives you peace of mind but also enhances protection throughout the entire loan duration.
If you require a loan for planned or unplanned expenses, you can consider Bajaj Finance Gold Loan. As an Indian citizen aged between 21 and 70 years, you can apply with just your KYC documents. Typically, a voter ID card, Aadhaar Card, passport, or driver's licence, along with proof of residence, are adequate for securing the loan.
To apply, you have two convenient options. You can visit a nearby Bajaj Finance branch, or you can easily apply online by visiting the Bajaj Finance website and following a few simple steps.
1. Go to the Bajaj Finance Gold Loan page.
2. Open the online application form.
3. Enter their 10-digit mobile number and get the OTP.
4. Submit the OTP to verify your details.
5. Select your state and city to locate the nearest branch.
6. Enter your full name and date of birth as per your PAN.
7. Set up an appointment at their nearest branch.
After you submit the application, a representative from Bajaj Finance will contact you to assist you with the next steps. With over 800 branches spread across India, Bajaj Finance ensures swift and easy loan processing, ensuring a convenient experience for you. To apply for a gold loan today, simply visit the Bajaj Finance website
