Bajaj Finserv Gold Loan Highlights |
|
|---|---|
| Interest Rate | 9.50% - 28% p.a. |
| Processing Fees | NIL |
| Loan Tenure | 1 year |
| Loan Amount | Rs 5,000 to Rs 2 crore |
| Gold Loan Repayment Facility | Monthly, Bi-Monthly, Quarterly, Half-Yearly and Annually |
| Collateral | Security of 18 to 22-carat gold jewellery |
Bajaj Finserv Gold Loan Interest Rate
Bajaj Finserv gold loan interest rates begin at 9.50% per annum. The NBFC takes into account factors such as the applicant's credit profile, loan tenure, and quality of the gold jewelry offered as collateral when determining gold loan rates for its customers.
| Particulars | Interest Rates (p.a.) |
|---|---|
| Gold Loan | 9.50% - 28% |
Also read: Best Gold Loan Interest Rate
Gold Loan Interest Rates Offered By Partner Banks & NBFCs
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
Types of Bajaj Finserv Gold Loan
Gold Loan
If you're considering a gold loan from Bajaj Finserv, you can use 18-carat gold jewelry as security. They also provide loans against embedded jewelry, where the loan amount is determined based on the value of the gold jewelry minus the weight of the stones.
Repayment Facility
Bajaj Finserv offers various repayment options for its gold loans, including monthly, bi-monthly, quarterly, half-yearly, and annually. Applicants can choose to repay the pending interest and principal at the end of the loan tenure.
Loan amount
You can get Bajaj Finserv gold loans for amounts up to Rs 2 crore.
Tenure
Bajaj Finserv offers gold loans with fixed tenures of 1 year.
Gold Loan Balance Transfer
Gold loan borrowers have the option to transfer their existing gold loan to Bajaj Finance through the Gold Loan Balance Transfer Facility. All they need to do is provide the details of their existing gold loan and Gold Deposit Receipt (GDR).
Also read: Best Gold Loan EMI Calculator
Bajaj Finserv Gold Loan Processing Fees & Other Charges
| Particulars | Charges |
|---|---|
| Processing Fees | The charges for the gold loan balance transfer facility are 0.12% of the loan amount, with a minimum of Rs 99 and a maximum of Rs 600. |
| Part-payment Charges | NIL |
| Penal interest | 3% p.a. on the outstanding loan balance |
| Cash Handling Charges | Rs 50 (applicable for cash disbursement only) |
| Stamp Duty | Payable as per state laws |
| Foreclosure Charges | There are no foreclosure charges for closing the loan. However, if the borrower decides to foreclose the loan within 7 days of booking, a minimum of 7 days' interest will be charged. |
| Auction Charges |
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Eligibility Criteria for availing Bajaj Finserv Gold Loan
Bajaj Finserv provides gold loans to Indian residents aged between 21 to 70 years, using 18 to 22 karat gold jewelry as collateral.
Also read: Best Gold Loan Eligibility
Documents Required for Bajaj Finserv Gold Loan Application
Here is the list of documents (any one) required for availing Bajaj Finserv Gold Loan:
- Passport
- Aadhaar Card
- Driving license
- Voter ID Card
- NREGA job card
- Letter issued by National Population Registration
Additionally, PAN Card is required for gold loans of Rs 5 lakh and above.
Also Read : Best Gold Loan Documents Required
Features and Benefits of Bajaj Finserv Gold Loan
Here are the key features and benefits of the Bajaj Finance gold loan:
- Processing fee: A nominal processing fee of Rs. 75 (inclusive of applicable taxes) is charged.
- Part-prepayment and foreclosure charge: There are no charges for part-prepayment or foreclosure.
- Loan amount: You can get a loan amount of up to Rs. 2 Crores for any significant personal or professional expenses.
- Interest rate: The interest rate for Bajaj gold loans ranges from 10% to 28% per annum.
- Easy repayment: You have the flexibility to repay your gold loan through regular Equated Monthly Instalments (EMIs) or by paying the interest periodically.
- Safety: Bajaj Finserv ensures a transparent gold evaluation process, and your gold items are securely stored in vaults under 24x7 surveillance with motor detector-equipped rooms.
Features of availing gold loan from IndusInd Bank
- Monthly payments are lower compared to other forms of credit.
- Your gold offered as security is valued and sealed in your presence, ensuring peace of mind.
- Easily walk into the bank with your gold, submit necessary documents, and get the loan amount disbursed to your bank account instantly.
- Documentation process is easy and minimal. The bank offers gold loans at affordable interest rates. Women and those in agriculture-related professions may enjoy additional interest rate discounts.
Bajaj Gold Loan FAQs
1. Can I get Bajaj Gold Loan on EMI?
Yes, you have the option to repay your gold loan either through regular Equated Monthly Instalments (EMIs) or by paying the interest periodically.
2. Can I use the Bajaj EMI card on jewellery?
No, you cannot purchase jewelry using the Bajaj Finserv EMI Network Card.
3. How much loan can I get for 1g gold?
The amount of gold loan that can be availed for 1 gram of gold ranges from Rs. 2,846 to Rs. 3,794. This variation depends on factors such as the purity of the gold being pledged, the current gold loan per gram rate, and other relevant considerations.
4. Is a CIBIL score required for a gold loan?
Since a gold loan is a secured loan, there is no requirement for a credit score. The primary criteria for availing a gold loan is the value and purity of your gold. The collateral security provided by your gold and its purity are more critical factors for quick approval of the loan.
5. What is Bajaj Gold EMI Card?
The Bajaj Gold EMI Card, also known as the Bajaj Finserv EMI Network Card, allows users to convert their purchases into easy EMIs. With a pre-approved loan limit of up to Rs. 2 Lakhs, this card can be used to shop online and offline for various products including gadgets, home appliances, furniture, electronics, clothes, and groceries.
6. What is the current interest rate for the Bajaj Finserv gold loan?
As of today, Bajaj Finserv's gold loan interest rates range from 10% to 28% per annum. These rates are subject to change based on factors such as the current gold rate, borrower's eligibility, and other relevant factors.