Life is full of surprises, and sometimes these surprises come with unexpected financial demands. Whether it is a medical emergency, urgent home repair, or unforeseen educational expenses, having quick access to funds is crucial. This is where gold loans come into the picture, offering a reliable and convenient solution. With Bajaj Finserv Gold Loan, you can get a loan starting from Rs. 5,000 up to Rs. 2 crore with no end-use restrictions.
Here are five compelling reasons why you should consider a gold loan as your ideal choice.
1. Swift and hassle-free process
When you are in a tight spot and need funds urgently, waiting around for loan approvals is the last thing you want. Gold loans provide a fast and hassle-free process that can help access instant funds in as little as 15 minutes*. Bajaj Finance offers an online gold application form, making the process even more convenient. All you need to do is pledge your 18-22 karat gold jewellery, and you are well on your way to securing the funds you need.
2. Low interest rates
When compared to unsecured loans, gold loans often come with significantly lower interest rates. This is because the loan is secured against the gold you provide as collateral. This makes it a low-risk proposition, offering you a better gold loan interest rate. With Bajaj Finance, you can get a gold loan at interest rates starting at just 9.50%* per annum. So, not only do you get access to the funds you need, but you can also save money on interest payments.
3. No credit checks
A common worry during financial emergencies is a low credit score impacting your loan eligibility. With gold loans, you do not need to worry about your credit history. Since the loan is backed by your gold jewellery, you do not need to undergo extensive credit checks. This provides people with varying credit histories or no credit scores to access the funds they require.
4. High value per gram of gold
The loan amount that you can receive through a gold loan is calculated based on the value of gold loan per gram. Bajaj Finance offers a maximum loan of up to 75% of the market value of your 18-22 karat gold jewellery. The jewellery is evaluated using state-of-the-art karat metres and kept in secure vaults under constant surveillance. Additionally, you get the advantage of free insurance coverage for the pledged gold jewellery. This not only gives you peace of mind but also adds an extra layer of protection throughout the loan duration.
5. Minimal documentation
Navigating stacks of paperwork can be a daunting task, especially when you are in need of urgent funds. Gold loans simplify this process by requiring minimal paperwork like basic KYC documents. This streamlines the process and gets you the funds you need faster.
6. Multiple repayment schedules
Bajaj Finserv Gold Loan comes with the flexibility to choose a tenure that suits your financial condition the best. You can choose to pay your interest monthly, bi-monthly, quarterly, half-yearly, or annually, as per your convenience.
When an unexpected need for cash arises, gold loans present an ideal solution. Their swift processing, lower interest rates, flexibility in loan amounts, and minimal documentation requirements make them a top choice. Whether you choose to apply for a gold loan online or in person, the benefits remain consistent. With a gold loan, you can address financial emergencies with confidence and ease.
To apply for a gold loan online, visit https://www.bajajfinserv.in/gold-loan.
