Quick and Easy Gold Loans with Bajaj Finserv: Understanding Your Options

Bajaj Finserv offers gold loans by pledging 18 to 22-carat gold jewellery, providing quick financial solutions with interest rates ranging from 9.50% to 28% per annum. The loan amounts range from Rs 5,000 to Rs 2 crore with a tenure of 1 year. Key features include no processing fees or part payment charges, quick approval within 15 minutes, and free insurance on gold jewellery. Eligible applicants are Indian residents aged 21-70 years. Required documents include Voter ID, Aadhaar Card, Passport, or Driving License. Applications can be made online or at branches.

LOANBAJAJ FINSERV

Investbegin

6/15/20242 min read

Bajaj Finance gold Loans
Bajaj Finance gold Loans

Quick and Easy Gold Loans with Bajaj Finserv: Understanding Your Options

Bajaj Finserv offers gold loans to individuals by pledging their gold jewellery of 18 to 22 carat purity. These loans are designed to help borrowers meet their financial requirements quickly and efficiently. Below are the key details and features of Bajaj Finserv Gold Loans.

Key Highlights
  • Interest Rates: 9.50% - 28% p.a.

  • Collateral: 18 to 22-carat gold jewellery

  • Loan Tenure: 1 year

  • Loan Amount: Rs 5,000 to Rs 2 crore

  • Processing Fee: NIL

  • Part Payment Charges: NIL

  • Repayment Facility: Monthly, Bi-Monthly, Quarterly, Half-Yearly, and Annually

  • Processing Time: Loan approval within 15 minutes

  • Insurance: Free insurance on gold jewellery

Interest Rates and Fees
  • Interest Rates: Start from 9.50% p.a. The rate depends on the applicant's credit profile, loan tenure, and the quality of the gold jewellery.

  • Processing Fees: 0.12% of the loan amount (Minimum – Rs 99; Maximum – Rs 600)

  • Part-Payment Charges: NIL

  • Penal Interest: 3% p.a. on the outstanding loan balance

  • Cash Handling Charges: Rs 50 (applicable for cash disbursement only)

  • Foreclosure Charges: NIL (However, a minimum of 7 days of interest will be charged if the loan is foreclosed within 7 days of booking)

  • Auction Charges:

    • Rs 40 per notice for physical notice

    • Rs 500 for recovery charges

    • Rs 200 for advertisement fee

Types of Bajaj Finserv Gold Loan
  1. Gold Loan:

    • Eligibility: Minimum 18-carat gold jewellery. Loans are also available on embedded jewellery after deducting the weight of the stones.

    • Loan Amount: Up to Rs 2 crore

    • Tenure: Fixed tenure of 1 year

    • Repayment Options: Multiple options including monthly, bi-monthly, quarterly, half-yearly, and annually. Borrowers can repay the pending interest and principal at the end of the loan tenure.

  2. Gold Loan Balance Transfer:

    • Borrowers can transfer their existing gold loans to Bajaj Finance. Details of the existing gold loan and Gold Deposit Receipt (GDR) are required for the transfer.

Eligibility Criteria
  • Age: 21 to 70 years

  • Residency: Indian residents

  • Collateral: 18 to 22 carat gold jewellery

Required Documents

To apply for a Bajaj Finserv Gold Loan, applicants need to provide one of the following documents:

  • Voter ID Card

  • Aadhaar Card

  • Passport

  • Driving License

  • NREGA Job Card

  • Letter issued by National Population Registration

  • PAN Card: Required for gold loans of Rs 5 lakh and above

Loan Application Process

Applicants can avail the gold loan by visiting Bajaj Finserv’s website or nearest branch. The process includes:

  1. Pledging Gold Jewellery: Submit gold jewellery of 18 to 22 carat purity.

  2. Document Submission: Provide the necessary documents.

  3. Loan Approval: Get the loan approved within 15 minutes.

  4. Loan Disbursal: The loan amount is disbursed on the same day.

EMI Calculator

Applicants can use the Gold Loan EMI Calculator available on Bajaj Finserv’s website to calculate their EMIs based on the chosen loan tenure, interest rate, gold weight, loan amount, and repayment option.

Bajaj Finserv’s gold loans offer a quick and secure way to meet financial needs by leveraging gold assets, with competitive interest rates and flexible repayment options.

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