Industry Updates

Multiple Repayment Options, Low Interest Rates, and More with Bajaj Finserv Gold Loan

Published: July 18, 2023
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People obtain loans for various purposes, such as managing medical expenses, financing their childrens education, or starting a new business. To manage to these various needs, there are multiple loan options available.

Bajaj Finserv Gold Loan

One increasingly popular choice is gold loans. They are not restricted to a specific purpose and can be utilised for various requirements. Additionally, they are known for their affordability, convenience, and quick processing.

Whether the borrower is a farmer looking to finance agricultural activities or an individual in need of immediate financial support, when it comes to borrowing against gold jewellery, understanding gold loan interest rates becomes crucial. Securing the best interest rate is crucial as it ensures affordability and minimises the overall borrowing costs. The interest rate borrowers obtain greatly influences their repayment journey.

Bajaj Finserv Gold Loan allows borrowers to effortlessly access funds ranging from Rs. 5,000 to Rs. 2 crores, with low gold loan rates starting from just 9.50% per annum. Customers can conveniently apply online by providing minimal information such as their name, 10-digit mobile number, and OTP.

What makes gold loan a smart choice for quick finance | Bajaj Finserv

Video Url: www.youtube.com/watchv=rMmKNPKG5ns.

Let us take a closer look at the features that make Bajaj Finserv Gold Loan a great choice for financing.

Multiple repayment options

Bajaj Finserv offers customers a wide range of repayment choices, allowing for greater flexibility. Borrowers have the freedom to decide how and when they want to repay their loan. They can select a monthly, bimonthly, quarterly, half-yearly, or annual payment schedule for the interest. However, the principal amount and any outstanding interest must be settled upon loan maturity.

High gold loan per gram

With a high gold loan per gram, borrowers can obtain a larger loan amount for their gold jewellery. This provides greater financial flexibility and the ability to meet larger funding requirements while leveraging the value of their gold assets. Bajaj Finserv offers borrowers a substantial loan-to-value (LTV) ratio, allowing them to secure up to 75% of the estimated weight of their gold jewellery as a loan amount.

Minimal documentation

Loan applications can be overwhelming due to the extensive documentation needed, including salary history, income proof, tax records, and more, which may vary based on the loan type. However, Bajaj Finserv gold loans offer a simpler process, requiring only basic KYC details that can be submitted much more quickly compared to other loan applications.

At Bajaj Finserv, the documentation process is straightforward and involves KYC verification. Borrowers only need to provide one of the following KYC documents – Aadhaar Card, voter ID card, passport, or driving licence. Unlike other loans, there is no requirement to present income proof documents.

Transparent evaluation

Transparency is of utmost importance in gold loans. To ensure borrowers receive the highest value for their gold, Bajaj Finserv utilises state-of-the-art karat metres. Also, the pledged gold jewellery is securely stored in highly secure vaults, under 24×7 surveillance.

Quick processing

Gold loans are processed quickly because of minimal documentation requirements and the absence of extensive eligibility checks. Any Indian citizen aged between 21 and 70 years can easily obtain a gold loan. Bajaj Finserv provides two convenient application options. The first option involves visiting a nearby branch and applying in person.

Alternatively, borrowers can apply from the comfort of their own home by visiting the Bajaj Finserv website and following a few simple steps.

Visit the Bajaj Finserv Gold Loan page.

Access the online application form.

Provide your 10-digit mobile number and receive the OTP.

Submit the OTP to verify your details.

Choose your state and city to find the nearest branch.

Enter your complete name and date of birth as per your PAN.

Schedule an appointment at the nearest branch.

Once you have submitted the application, a Bajaj Finserv representative will reach out to guide you through the next steps. With a vast network of more than 800 branches throughout India, Bajaj Finserv ensures prompt and hassle-free loan processing, ensuring a convenient experience. To apply for a gold loan today, visit the Bajaj Finserv website.

*Terms and conditions apply.

About Bajaj Finance Limited

Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 66.05 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term rating of B by S&P Global ratings.

To know more, visit www.bajajfinserv.in.

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