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Features and Benefits of Bajaj Finserv Gold Loan

Following are the key features and benefits of the Bajaj Finance gold loan:

  • Loan amount: You can obtain a sizeable loan amount of up to Rs. 2 Crores to finance any of your big-ticket personal or professional expenses.
  • Rate of interest: Bajaj gold loan interest rate ranges from 10% to 28% per annum.
  • Processing fee: Rs. 75 (inclusive of applicable taxes).
  • Part-prepayment and foreclosure charge: Nil
  • Easy repayment: You can either choose to pay your gold loan through regular Equated Monthly Instalments (EMIs) or pay the interest periodically.
  • Complementary gold insurance: Bajaj Finserv offers a complementary gold insurance policy with a Bajaj Finserv gold loan under which the pledged gold items will be insured against any theft and misplacement.
  • Part release facility: Under this facility, the pledged gold items will be released partially when required by paying the equivalent amount.
  • Safety: Bajaj Finserv has a transparent gold evaluation process. Also, your gold items are stored in highly secure vaults under 24x7 surveillance inside a motor detector-equipped room.
  • EMI Calculator: You can use the gold loan interest rate calculator or EMI calculator available on Bajaj Finserv’s website to your eligibility for the loan.

Bajaj Finserv Gold Loan Interest Rate

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:

  • Pay only the interest component monthly/ bi-monthly/ quarterly/ half-yearly/ yearly and then repay the principal loan amount at the end of the repayment tenure.
  • Repay interest as well as principal components together in affordable Equated Monthly Instalments (EMIs). 
    Pay the interest component at the beginning of your loan tenure and then repay the principal amount throughout the tenure.

Eligibility Criteria for Bajaj Gold Loan

You will be required to meet the following criteria to be eligible for the Bajaj Finserv gold loan:

  • The applicant must be aged between 21 to 70 years.
  • The applicant must be salaried, self-employed, business person, trader farmer or belong to any other profession. 
  • The applicant must furnish the required KYC documents to establish their identity and address.
  • The applicant must provide a relevant income proof document if asked by Bajaj Finserv to establish their repayment capacity.
  • Bajaj Finserv accepts gold jewellery of 22 carat for a gold loan after measuring the weight.
  • You can use Gold Loan Eligibility Calculator or Bajaj Gold Loan Interest Calculator to calculate the loan amount you can avail of.

Documents Required for Bajaj Finance Gold Loan

You will be required to provide the following officially valid documents to apply for Bajaj gold loan:

Identity Proof (any one of the below-mentioned documents):

  • Aadhaar Card
  • Passport
  • Voter ID Card
  • Driving License
  • NREGA Job Card

Address Proof (any one of the below-mentioned documents):

  • Aadhaar Card
  • Passport
  • Voter ID Card
  • Driving License
  • Electricity Bill
  • NREGA Job Card
  • Letter issued by National Population Register

If the submitted officially valid document does not contain your updated address, you may submit any of the following documents as address proof:

  • Utility Bill of the current or previous month
  • Pension/ Family Pension document
  • Property/ Municipal Tax Receipt
  • Letter of Allotment of Accommodation from your employer, like documents issued by State Government/ Central Government/ or Statutory/ Regulatory bodies, SCBs, PSUs, Financial Institutions, Listed Companies and Limited Liability agreements with such employees allotting official accommodation. 

The applicant has to submit the officially valid documents updated with the current address within 3 months of submitting the deemed officially valid documents.

Income Proof:

The applicant must provide a relevant income proof document if asked by Bajaj Finserv to establish their repayment capacity.

Compare Bajaj Finser Gold Loan to Other Lenders

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.

BankRate of Interest (p.a.)Loan AmountProcessing FeeTenure
Bajaj Finserv10% - 28%Up to Rs. 2 CroresRs. 75 (inclusive of applicable taxes)As applicable
Bank of Baroda9.20% - 9.30%Up to Rs. 25 LakhsUp to 0.50% + GST1 year - 3 years
Canara Bank13% onwardsRs. 5,000 - Rs. 35 Lakhs1% 6 months - 1 year
HDFC Bank7.60% - 16.81%Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)1%3 months - 2 years
SBI8%Rs. 20,000 - Rs. 50 LakhsNil till 31.01.2023Up to 3 years
Indian Bank8.25% onwardsNo upper limit0.50%Up to 35 months
ICICI Bank10% - 17.95%Rs. 50,000 - Rs. 1 Crore1%6 months - 1 year
Kotak Mahindra Bank8% - 17%Rs. 20,000 - Rs. 1.5 CroresUp to 2% + GSTUp to 4 years
Axis Bank17% - 19%Rs. 25,001 - Rs. 25 LakhsUp to 0.50%6 months - 3 years

Fee and Charges

Following are the fees and charges applicable for Bajaj Finserv gold loan:

  • Rate of interest: 10% to 28% p.a.
  • Processing fee: Rs. 75 (inclusive of applicable taxes).
  • Penal interest: 3% p.a. on the outstanding balance. 
  • Cash handling charges for cash disbursement: Rs. 50 (inclusive of applicable taxes).
  • Stamp duty: Payable as per State laws & deducted upfront from the sanctioned loan amount.
  • Auction charges: 
    • Charge for physical notice: Rs. 40 per notice (inclusive of applicable taxes).
    • Recovery charges: Rs. 500 (inclusive of applicable taxes).
    • Advertisement fees: Rs. 200 (inclusive of applicable taxes)
  • Part-prepayment and foreclosure charge: Nil.

Steps to Apply for Bajaj 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:

  • Visit the official website of Bajaj Finserv.
  • Click on the ‘Gold Loan’ option under the ‘Loans’ section. 
  • Now enter all the required details like your name, mobile number, State, City, and the loan amount.
  • Verify the OTP sent on your registered mobile number.
  • Now submit your application for a Bajaj Finance gold loan.

Bajaj Finserv Gold Loan Customer Care

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.

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Get Gold Loan with No EMI Option from Rupeek

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.

Bajaj Gold Loan FAQs

How much loan can I get for 1g gold?

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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.

What is the current interest rate for the Bajaj Finserv gold loan?

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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.

Is a CIBIL score required for a gold loan?

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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.

Can I get Bajaj Gold Loan on EMI?

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Yes, you can either choose to pay your gold loan through regular Equated Monthly Instalments (EMIs) or pay the interest periodically

Can I use the Bajaj EMI card on jewellery?

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No, you cannot buy jewellery with Bajaj Finserv EMI Network Card.

What is Bajaj Gold EMI Card?

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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.

What happens if the gold loan is not paid?

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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.

Can we pre-close the gold loan?

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Yes, Bajaj Finserv allows you to pre-close your gold loan at nil part-prepayment and foreclosure charges.  

Can I transfer my gold loan?

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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.