About Bajaj Finance Gold Loan
Bajaj Finserv is one of the most renowned firms in India. It is a registered Non-Banking Financial company offering financial services and having different subsidiaries namely Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Bajaj Financial Services Ltd. in India.
It mainly focuses on lending, wealth management, insurance, and asset management. It is a part of Bajaj Holdings & Investments Limited. Bajaj Finserv has headquarters in Pune, Maharashtra, India. They offer financial and banking services to customers like personal Loan, Gold Loan, and loan against property.
Are you going through a financial crisis? And need immediate funds for some emergency or to fulfill your dreams? If Yes is the answer to all these questions then, you can apply for Gold Loan. If you are having Gold lying idle at home then put a value to your Gold Ornaments and apply for Gold Loan from Bajaj Finserv. It is counted amongst the top Gold loan providers in India. They offer Gold Loans across 139 locations in Maharashtra and Gujrat. It provides high funding to the customer at an attractive rate of interest.
Bajaj Finance Gold Loan could be the least complex and most secure approach funds for your immediate needs at attractive interest rates, With less documentation process and secure storage of your gold, Bajaj Finance gold loan is a suitable choice to get money is few time.
Why Choose Bajaj Finance Gold Loan?
Bajaj Finance offers loan against gold at the lowest Interest rate. Being one of the significant gold loan suppliers, Bajaj Finance understands the necessities of the clients and disburses the loan amount in 60 minutes. The gold promised is securely secured in the bank locker and you don’t need to stress over its safety.
Advantages of Bajaj Finance Gold Loan
- A gold loan is a fast loan as compares to other loans individual get cash within a day
- The gold loan can be taken for education purpose
- It tends to be helpful for extending a business or working capital requirement
- To enhance agribusiness by purchasing apparatus for the water system and different needs
- At the point when a medicinal crisis strikes, a gold loan can be a friend in need.
- To get urgent money while going on a trip
- Gives the feeling of utilizing a possess advantage for fund your requirements
Bajaj Finance Gold Loan Eligibility
Gold Loan is a financial product provided by the Bajaj Finance which caters to your needs of short term or long term funds. It is easy to avail financial service provided by banks at low rates of interest and also requires minimal documentation for the same. Bajaj Finance gives you the Loan amount within an hour of application as the valuation and approval process is quickly done keeping in mind your urgency regarding the need for funds.
Major Eligibility criteria for availing the Bajaj Finance Gold Loan is:
- The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases).
- The applicant should be the rightful owner of the Gold that he/she wishes to pledge with the bank.
- The Minimum weight of Gold that can be pledged is 10 grams and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold.
- The Minimum purity of Gold required to be eligible for Loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases).
- 24 Carat Gold in any form, Gold bars, Gold biscuits, and etc. are not recognised as valid forms of Gold to be kept as security for the Bajaj Finance Gold Loan.
- A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your Gold as collateral security.
Bajaj Finance Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Bajaj Finance wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Bajaj Finance Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.
Documents required for Applying for Bajaj Finance Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
- 2 latest passport-sized photographs
- Basic KYC documents :
- Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, and etc.
- Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house).
- Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Bajaj Finance Gold Loan for Agricultural purposes.
- If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.
Applicant Address Verification Proof can be amongst the below documents(ANY):
- Passport: Valid Copy of passport both front and last page
- Voters ID card: Copy of Valid Voter Identity Card
- Driving License: Copy of Driving license which is valid.
- Adhar card: Copy of Adhar Card with current information
- Utility Bills on the name of the applicant.
- Sales Tax Certificate
- Rental Agreement
Signature Verification Documents required are namely:
- Valid Copy Passport
- Bank’s Verification Certificate
**Any other documents as requested by the bank needs to be duly submitted.**
Bajaj Finance Gold Loan Interest Rate
Bajaj Finance Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Bank starts at 14% per annum.
Bajaj Finance also charges some additional fees along with the rate of interest in some cases, which are :
- Processing fee – 1% of the loan amount or ₹1000 whichever is higher
- Documentation charges
- Gold Valuation charges
- The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.
Bajaj Finance Gold Loan Rate per Gram
The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of Gold in the market. The rate of gold changes daily in the market and therefore, the Bajaj Finance Gold Loan Rate per Gram also varies every day. Bajaj Finance gives funding of up to 70% of the total market price of your Gold keeping the remaining 30% as a security margin.
The amount that you will get for a gram of Gold varies depending on its purity and the market price for your Bajaj Finance Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
Bajaj Finance Gold Loan Apply Online
Applying for the Bajaj Finance Gold Loan service is a simple and hassle-free process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with basic information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Visit Dialabank’s digital platform, where you will have to just fill a form without any registration.
- Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
- You will get personalised service giving you the option of comparing and taking the best deal according to your needs without any extra charges.
- With Dialabank you can compare the different offers and schemes from different banks on the basis of funding provided and the rate of interest charged to choose the best loan deal for yourself.
Bajaj Finance Gold Loan EMI Calculator
How to Pay Your Bajaj Finance Gold Loan EMI?
Your Bajaj Finance gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Bajaj Finance, Standing Instruction is the best method of r repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Bajaj Finance account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilized in the event that you have a non-Bajaj Finance account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Bajaj Finance account at your closest Bajaj Finance Loan Center. A new arrangement of PDCs should be submitted in a timely manner. It would be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Gold Ornaments Accepted by Bajaj Finserv
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat cannot be used for availing a gold loan.
Use of Bajaj Finance Gold Loan
The funds acquired by availing the Bajaj Finance Gold Loan service can be used for a number of purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc.
- For all your business needs such as buying raw material, expansion of business, and etc.
- You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
FAQs About Bajaj Finance Gold Loan
The amount of loan that a customer gets for a single gram of gold depends on the quality of the gold and the prevailing price of gold in the market.
Bajaj Finance provides Gold Loan at an attractive rate of interest and a flexible tenure for the added financial ease of the customer. The bank gives the loan for a maximum of ₹ 20 lacs at a low rate of interest depending on your loan amount and a maximum tenure of 36 months. The bank charges a low processing fee with minimal documentation and no prepayment charges.
The interest rate charged on Gold Loan by Bajaj Finance starts from 14% per annum and depends on the purity of your gold and the amount of the loan to be borrowed.
You can pay your Gold Loan by SI or ECS on your bank account for the automated deduction of the EMIs’. For detailed information visit the nearest branch or call on the customer care number.
Application procedure for Gold Loan from Bajaj Finance is a simple and hassle-free procedure. You need to visit the branch with basic documentation and the gold to apply for the loan or apply through Dialabank’s online platform to avail of the best deals according to your needs.
Renewal of your Gold Loan can be done by visiting the branch with all your loan-related documents and getting the gold kept as security revalued. You can contact the banker for detailed information regarding the procedure.
Taking Gold Loan from Bajaj Finance is a simple and hassle-free process as the bank gives you quick funding with minimal documentation at an attractive rate of interest. You can apply offline by visiting the branch or online through Dialabank.com to apply through the comfort of your home.
Gold Loan is a lending product of Bajaj Finance through which you can get a loan by submitting your gold ornaments as security. The loan amount and interest rates are dependent on the purity of your gold and vary accordingly. Bajaj Finance Gold Loan comes with same day disbursement and attractive interest rates. They provide high-value Gold Loans to fulfill all your financial needs.
Loans against Gold are disbursed within an hour of the approval of the documents and the valuation of the gold. The process is quick and simple with the requirement of only gold and minimal documents (Aadhar, Pan, 2 photographs). For getting the loan just need to visit the branch with your gold and documents.
If you wish to check the status you can do so by contacting the customer care executive or visit the bank branch.
Your Bajaj Finance Gold Loan can be closed by repaying the entire due amount which can be done by the following three ways:
- 1) Standing Instruction on your Dhanlaxmi Bank account.
- 2) ECS on your other bank account.
- 3) Post Dated Cheques deposited with the branch.
The renewal process of Gold Loan is fairly simple. Just visit the branch with all your loan-related documents and get the gold kept as security earlier released and revalued again at the current market prices. New terms for the loan would be formed upon the agreement of which the renewal process will be completed.
If someone defaults the Bajaj Finance Gold Loan repayment then the bank charges a penalty fee. Also, defaulting on your loan gives the bank the legal right to auction your gold.
It has over 1400 branches across the country and is one of the leading providers of retail finance.
Table of Contents
- 1 About Bajaj Finance Gold Loan
- 2 Why Choose Bajaj Finance Gold Loan?
- 3 Advantages of Bajaj Finance Gold Loan
- 4 Bajaj Finance Gold Loan Eligibility
- 5 Bajaj Finance Gold Loan Documents Required
- 6 Bajaj Finance Gold Loan Interest Rate
- 7 Bajaj Finance Gold Loan Rate per Gram
- 8 Bajaj Finance Gold Loan Apply Online
- 9 Bajaj Finance Gold Loan EMI Calculator
- 10 How to Pay Your Bajaj Finance Gold Loan EMI?
- 11 Gold Ornaments Accepted by Bajaj Finserv
- 12 Use of Bajaj Finance Gold Loan
- 13 FAQs About Bajaj Finance Gold Loan