Gold holds a great deal of value in Indian households. More than just a symbol of prestige, gold is also an excellent source of capital. This is because you can pledge as collateral and avail a gold loan from leading lenders on Bajaj Markets.
In fact, by pledging your gold jewellery as collateral, you can get a loan of up to 75% of the current market value of your gold. This amount can help you address many big-ticket expenses with ease. Read on to know more about availing a loan against gold.
Taking a gold loan is easier as you can apply for a gold loan online. So, if you have idle gold and are in need of funds, avail a loan against gold to get the financial help you need.
Here are some important details you must know before you apply for a gold or a jewel loan. The table shows the gold loan interest rates, tenure and the maximum amount you can avail on Bajaj Markets:
Rate of Interest |
8.28% - 28% p.a. |
Amount of the Loan |
Starting from ₹1,500 with no maximum limit |
Tenure of the Loan |
7 days to 36 months |
Disclaimer: The values mentioned above are subject to change at the lender’s discretion.
Check out the gold loan interest rates of the lending partners on Bajaj Markets.
Name of the Partner |
Interest per Annum |
Repayment Tenure |
9.5% - 28% p.a. |
Up to 12 months |
|
8.28% p.a. onwards |
61 days to 12 months |
|
9.96% p.a onwards |
7 days to 36 months |
|
9.96% p.a onwards |
3 months – 12 months |
Disclaimer: Interest rates and tenure can vary at the lender’s discretion.
You can compare the interest rates by estimating your monthly instalments using a gold loan EMI calculator and select a lender that best aligns with your financial goals and budget.
A gold loan is a quick and convenient way to obtain funds using your gold jewellery as collateral. Here are some key features and benefits of taking a gold loan.
You can borrow up to 75% of the current market value of your gold, making it an excellent source of capital for various financial needs. The loan amount which can go up to crores can help you manage your immediate financial requirements.
The disbursal time of a gold loan is swift, and the amount is credited within a few hours of loan approval, making it ideal for emergencies.
You can pay regular EMIs or interest monthly, bi-monthly, quarterly, half-yearly, or annually as per your convenience.
With this option, you can repay a part of your loan and take back a portion of your gold jewellery before the end of the loan tenure.
The entire process assures transparency with no hidden charges.
Applying for a gold loan on Bajaj Markets is hassle-free and quick. You can apply online and then visit the lender personally to complete the process.
You do not have to pay any foreclosure or part-prepayment charges and can close your loan account before the tenure ends.
Unlike other types of loans, your credit score does not play a significant role in the approval process when you opt for a gold loan.
Before applying for an online gold loan, understand the eligibility criteria and the documents required for loan approval.
The gold loan eligibility criteria are as follows:
You must be an Indian citizen, above the age of 18 years.
You must be a salaried employee/self-employed individual/ entrepreneur/ farmer/ trader.
The list of documents required for a gold loan is listed below.
Identity Proof |
|
Address Proof |
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Applying for a gold loan is easy via Bajaj Markets. Here are the basic steps you must follow:
Step 1: Click on ‘APPLY NOW’ on this page.
Step 2: Enter your name, mobile number, date of birth, required loan amount, pincode, email ID etc.
Step 3: Once you fill in the details, a loan representative of the lending partner (depending on your eligibility and offer) will contact you to process your application further
A gold loan, sometimes called a jewellery loan, is a secured form of loan where you can pledge your gold jewellery in the form of collateral in exchange for an amount that is determined by the current market value of your gold.
If you are a salaried or self-employed individual between 18 and 70 years and an Indian citizen, you can apply for a gold loan.
Yes, it is safe to avail a gold loan, as the lender stores your assets safely in vaults. However, if you default on the repayments, your assets may be auctioned by the lender.
Gold loans are secured loans. They are offered against the gold that you pledge as collateral. You can borrow money against gold jewellery, coins etc. Once you repay the loan, the lender will return the gold.
Yes, you can get a gold loan on jewellery.
A gold loan offered per gram is determined by the total weight of the gold, its purity, and a 30-day average price of the gold on a carat value basis.
In most cases, the lender will charge an overdue fee over the gold loan amount. However, if you cannot repay the amount, the lender will auction the collateral you have pledged.
No, a guarantor is not necessary for authorising a gold loan.
Yes, you can prepay or foreclose your gold loan at no extra cost. In addition, you can repay the entire amount or a part of your loan in advance without incurring any penalty charges. This helps you save money and reduce your financial burden.
You must apply for a gold loan when you require urgent funds to meet your financial requirements. Moreover, you can get up to 75% of the current market value of your gold as a loan, making it an ideal choice for those who need quick cash.