Bajaj Gold Loan

The 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 9.50% to 24% 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 check your eligibility for the loan.

Bajaj gold loan interest rate varies between 9.50% and 24% p.a. The minimum period required for charging interest is 7 days. The interest rate may differ from the bank gold loan interest rate, as Bajaj Finserv is a Non-Banking Financial Company (NBFC). The interest rates applicable to Bajaj Finserv gold loans are dynamic and can be 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 offers 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.

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, a business person, a trader, a 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 the Gold Loan Eligibility Calculator or the Bajaj Gold Loan Interest Calculator to calculate the loan amount you can avail of.

You will be required to provide the following officially valid documents to apply for a 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 the 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.

Below is a comparison of the Bajaj Finance gold loan with the gold loan schemes of other lenders. You can check the lowest gold loan interest rate available in which bank is available before applying for the gold loan.

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

• 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.
• Part-prepayment and foreclosure charge: Nil.
• 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)

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.

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.