Simplify your gold loan application with easy eligibility and quick approval with Bajaj Finserv Gold Loan
Gold has always been a valuable asset in Indian households. Beyond its cultural and sentimental value, it serves as a strong financial backup in times of need. Rather than selling gold jewellery, many individuals prefer taking a gold loan, which offers quick access to funds. With minimal documentation and a simple eligibility process, gold loans are becoming an increasingly popular financing option.
During the Bajaj Finance Loan Fest, obtaining a gold loan is even more convenient. Competitive gold loan interest rate and multiple repayment options make it a wise financial tool to manage both planned and unplanned expenses efficiently.
Why consider a gold loan?
A gold loan is a secured loan where your gold jewellery is pledged as collateral in exchange for funds. This type of loan is useful in various situations:
- Emergency expenses: Medical bills, urgent travel, or unforeseen situations require quick funds.
- Business growth: Entrepreneurs can use a gold loan for working capital, stock purchases, or business expansion.
- Education expenses: Parents can fund school or college fees without dipping into their savings.
- Home renovation: Instead of taking a personal loan, a gold loan can be used to refurbish or improve a home.
Since gold loans often have lower interest rates compared to unsecured loans, they become a practical choice for borrowing money at affordable costs.
Documents required for a gold loan
One of the biggest advantages of a gold loan is its minimal documentation process. To get a quick gold loan during Bajaj Finance Loan Fest, you must provide any one of the following documents required for a gold loan.
- Aadhaar Card
- Voter ID Card
- Passport
- Driving Licence
- NREGA Job Card
- Letter issued by National Population Registration
It’s important to note that while a PAN card is not mandatory for gold loan applications, if you apply for a loan amount of ₹5 lakh or above, submission of your PAN card will be required.
Eligibility criteria for a Bajaj Finance gold loan
To avail a gold loan during the Bajaj Finance Loan Fest, you need to meet the following criteria:
- Age requirement: The applicant must be between 21 and 70 years.
- Gold purity: The pledged gold must be between 18 to 22 karats.
- Ownership: The gold should belong to the applicant.
- Nationality: Only Indian residents are eligible to apply.
The process is straightforward, ensuring hassle-free loan approval and quick disbursal.
Benefits of taking a gold loan with Bajaj Finance
- Quick disbursal: Loan approval and disbursal happen within 24 hours*.
- Competitive interest rates: With rates starting from 9.50% per annum, borrowers enjoy affordable repayment options.
- Multiple repayment plans: Options include monthly, bi-monthly, quarterly, half-yearly, or annual interest payments. The principal amount and pending interest, if any, due for payment at the time of loan maturity.
- No income proof required: Unlike personal loans, a gold loan does not require salary slips or bank statements.
- Secure storage: Gold is stored safely in high-security vaults until repayment is complete.
How to apply for a gold loan with Bajaj Finance
Applying for a gold loan is easy:
- Click on “Apply” to initiate online application.
- Enter your 10-digit mobile number and click on “Get OTP.”
- Submit the OTP to verify your identity.
- Fill in your personal details and select the nearest gold loan branch.
Once done, you will receive a call from our representative and guide you on the next steps.
Conclusion
A gold loan during the Bajaj Finance Loan Fest is a smart way to access funds without selling your gold. With low gold loan interest rates, simple documentation, and fast processing, it is a reliable financial solution for various needs. By understanding the documents required for a gold loan and the eligibility criteria, borrowers can easily secure funds while keeping their gold safe.
If you are looking for an easy and quick way to manage financial needs, a Bajaj Finance gold loan could be the perfect solution for you.
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