Gold, a symbol of wealth and value, has played a crucial role in helping people meet their financial needs throughout history. Bajaj Finance Gold Loans, with their user-friendly features, present a quick and easy solution for a wide range of personal and professional requirements. Whether its funding a new business venture, managing educational expenses, navigating unexpected medical emergencies, or meeting diverse financial requirements, gold loans have emerged as a reliable lifeline for individuals seeking swift and hassle-free support.
Bajaj Finserv Gold Loan
What sets Bajaj Finance Gold Loans apart is the simplicity and convenience of the application process. Through a user-friendly online platform, individuals can apply for the loan from the comfort of their homes or offices, saving time and effort. Borrowers can get gold loans starting from Rs. 5,000 and going up to Rs. 2 crore, with gold loan interest rates as low as 9.50% per annum.
What makes gold loan a smart choice for quick finance | Bajaj Finserv
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Heres a closer look at the attractive benefits that makes gold loan an effective financing tool.
Multiple repayment options and high loan amount
Bajaj Finance offers multiple repayment options to repay the gold loan. Borrowers can decide when and how to repay it. For instance, they can choose to pay the full interest amount at the beginning of the loan term and then clear the remaining principal at the end. Alternatively, they can make interest payments on a monthly, bimonthly, quarterly, half-yearly, or yearly basis. Moreover, with a Bajaj Finance Gold Loan, borrowers can get a loan amount of up to 75% of the estimated weight of the pledged gold jewellery.
Low interest rate
One big advantage of getting a gold loan is that the interest rates are usually lower compared to loans, like personal loans. This is because when borrowers apply for a gold loan, they pledge their gold as security, which reduces the risk for the lender. Because of this, they can offer lower interest rates. For example, Bajaj Finance Gold Loan interest rates start from 9.50% per year, making it a good choice for borrowing funds. Borrowers can use the online gold loan calculator provided by Bajaj Finance to easily estimate how much interest they will have to pay based on the weight of their gold jewellery or the loan amount.
No need for a good credit score
Another great thing about gold loans is that borrowers can get them even if they have a low CIBIL score or no credit history. This is because the loan is secured by physical gold jewellery, which acts as collateral. To be eligible for the loan, borrowers just need to have jewellery made of 22-karat gold.
Minimal paperwork and quick processing
Applying for loans can be a hassle because of the extensive documentation required, such as salary history, income proof, and tax records. However, gold loans require only basic KYC (Know Your Customer) details, which makes the documentation process much easier.
Bajaj Finance follows a simple documentation process involving KYC verification. Borrowers only need to submit one of the following KYC documents: Aadhaar Card, voter ID card, passport, or driving licence. Unlike other loans, there is no need to provide income proof documents.
Though it is important to note that people borrowing more than 5 lakh must provide their PAN card details.
Quick and easy processing
Gold loans are processed quickly because they require minimal documentation and no extensive eligibility checks. Any Indian citizen between 21 and 70 years old can easily apply for a gold loan. Bajaj Finance offers two convenient options to apply for a gold loan. You can either visit a nearby branch of Bajaj Finance and apply in person, or you can apply online from the comfort of your own home by following a few easy steps on the Bajaj Finance website.
To apply online, you need to:
Go to the Bajaj Finance Gold Loan page.
Open the online application form.
Fill in your first and last name as it appears on your PAN card.
Enter your 10-digit mobile number and select your city.
Enter the OTP (One-Time Password) sent to your mobile number and submit the application.
Once you submit the online application, a representative from Bajaj Finance will help you schedule an appointment at your preferred gold loan branch. With more than 800 branches across India, Bajaj Finance ensures quick and easy loan processing, making sure you have a convenient experience.
To get a gold loan today, simply visit the Bajaj Finance 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.
