Following are the key features and benefits of the Bajaj Finance gold loan:
Bajaj gold loan interest rate varies between 10% and 28% p.a. The minimum period required for charging interest is 7 days. The interest rate may differ from bank gold loan interest rate as Bajaj Finserv is a Non-Banking Financial Company (NBFC). The interest rates applicable on Bajaj Finserv gold loans are dynamic and can get affected by several factors such as inflation, the market price of gold, the borrower’s credit score, etc.
You can pay only the interest component first and then settle the principal loan amount at the end of the repayment tenure. Bajaj Finserv the following three repayment options:
You will be required to meet the following criteria to be eligible for the Bajaj Finserv gold loan:
You will be required to provide the following officially valid documents to apply for Bajaj gold loan:
If the submitted officially valid document does not contain your updated address, you may submit any of the following documents as address proof:
The applicant has to submit the officially valid documents updated with the current address within 3 months of submitting the deemed officially valid documents.
The applicant must provide a relevant income proof document if asked by Bajaj Finserv to establish their repayment capacity.
Below is the comparison of the Bajaj Finance gold loan with the gold loan schemes of other lenders. You can check the lowest gold loan interest rate in which bank is available before applying for the gold loan.
|Bank||Rate of Interest (p.a.)||Loan Amount||Processing Fee||Tenure|
|Bajaj Finserv||10% - 28%||Up to Rs. 2 Crores||Rs. 75 (inclusive of applicable taxes)||As applicable|
|Bank of Baroda||9.20% - 9.30%||Up to Rs. 25 Lakhs||Up to 0.50% + GST||1 year - 3 years|
|Canara Bank||13% onwards||Rs. 5,000 - Rs. 35 Lakhs||1%||6 months - 1 year|
|HDFC Bank||7.60% - 16.81%||Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)||1%||3 months - 2 years|
|SBI||8%||Rs. 20,000 - Rs. 50 Lakhs||Nil till 31.01.2023||Up to 3 years|
|Indian Bank||8.25% onwards||No upper limit||0.50%||Up to 35 months|
|ICICI Bank||10% - 17.95%||Rs. 50,000 - Rs. 1 Crore||1%||6 months - 1 year|
|Kotak Mahindra Bank||8% - 17%||Rs. 20,000 - Rs. 1.5 Crores||Up to 2% + GST||Up to 4 years|
|Axis Bank||17% - 19%||Rs. 25,001 - Rs. 25 Lakhs||Up to 0.50%||6 months - 3 years|
Following are the fees and charges applicable for Bajaj Finserv gold loan:
You can apply for a Bajaj Finserv gold loan online through their official website or by visiting the nearby Bajaj Finserv branch.
Below are the steps to apply for a Bajaj gold loan online through their website:
You can reach Bajaj Finserv Gold Loan Customer Care at 086980 10101. You can dial this number for any query, feedback, suggestion or complaint regarding the Bajaj gold loan or any other product offered by Bajaj Finserv.
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 8.88% p.a. You can avail of emergency loan ranging from Rs 50000 to Rs 20 Lakhs against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
The gold loan amount that can be availed for 1g of gold varies from Rs. 2,846 to Rs. 3,794, depending on the purity of the gold to be pledged, gold loan per gram rate today, and other factors.
Bajaj Finserv gold loan rate today is 10% to 28% p.a. The interest rates are subject to change as per the gold rate today, borrower’s eligibility and other factors.
Being a secured loan, there is no credit score requirement for a gold loan. The main criteria for availing a gold loan are your gold. Your gold’s collateral security and purity are more important for getting quick approval.
Yes, you can either choose to pay your gold loan through regular Equated Monthly Instalments (EMIs) or pay the interest periodically
No, you cannot buy jewellery with Bajaj Finserv EMI Network Card.
The Bajaj Gold EMI Card or Bajaj Finserv EMI Network Card enables users to convert all their purchases into easy EMIs. This unique card comes with a pre-approved loan limit of up to Rs. 2 Lakhs which can be used to shop online and offline for purchasing a wide range of products like gadgets, home appliances, furniture, electronics, clothes and groceries.
The failure to repay your gold loan will ultimately lead to the auction of gold by the lender since the gold was pledged as collateral by the borrower against the loan. It is now considered a non-performing asset (NPA) and will be sold off for recovery.
Yes, Bajaj Finserv allows you to pre-close your gold loan at nil part-prepayment and foreclosure charges.
Yes, you can transfer your gold loan from the existing lender to another if you get a lower interest rate with another lender or are not happy with the services of the current lender.