✔️What is the tenure of Bajaj Finserv gold loan?

Bajaj Finserv gold loans have a fixed tenure of 12 months.

✔️Can I prepay the gold loan? Are there any charges levied on prepayment?

Yes, the borrower can prepay their Bajaj Finserv gold loan amount and there are no charges or penalties levied on prepayment.

✔️What is the quality range accepted by Bajaj Finserv for jewellery loan?

The quality of the gold offered as collateral for a Bajaj Finserv gold loan must be between 18 to 22 carats.

✔️Do I require a guarantor to get Bajaj Finserv gold loan?

No, a guarantor is not required to authorize a gold loan.

✔️What happens if I fail to repay the loan amount on the due date?

Not being able to repay one’s loan amount or an EMI repayment brings a plethora of consequences upon the borrower. Some lenders could extend deadlines and due dates in favor of the borrower and allow them some more time. If the borrower extends 180 days of not repaying the loan amount, the lender can take legal action against the borrower under the Negotiable Instrument Act of 1881. The lender also has the right to auction the collateral if the borrower fails to repay the loan. In conclusion, the borrower’s credit health would be severely impacted along with their legal records and history as a country citizen.

Agriculture Gold Loan

Gold Loan for Farmers - Know about the features, benefits, eligibility & documents required for Agriculture Gold Loan

✓ No Limit on Loan Amounts ✓ Interest Rate Starting @0.74% p.m. ✓ Minimal Documentation Apply Now

Agri Gold Loan Scheme

The need for financial assistance is not just limited to business and salaried individuals. Individuals involved in agriculture and allied activities may also require access to funds to meet their credit requirements.

Agriculture is a crucial component to India’s GDP. Leading banks and NBFCs offer financing options tailored to the needs and requirements of the farmers. One such personalised loan option is the Agriculture Gold Loan Scheme.

It is a secured gold loan facility that allows farmers to avail funds by pledging their gold. The main purpose of the gold loan is to provide quick access to funds for farmers to meet their needs.

Gold loan allows farmers to get funds to cater to financial requirements such as:

Crop production
Allied activities- dairy,poultry, etc.

Farmers can access funds through the Kisan gold loan scheme to fund expenses such as buying inventory, purchasing land, equipment, machinery, raw materials etc.

Features of Gold Loan for Farmers

Low Interest Rates

The agriculture gold loan interest rate starts from 7% interest onwards. The interest rates are low when compared to other types of loans. Applicants with a high credit score and stable income can get a gold loan at a very competitive interest rate.

Easy Loan Process

The disbursement of loan amount is fast, and the process is hassle- free.

Minimal Documentation

The documentation and verification process for this loan is simple and quick.

Safety

Gold is kept safely in bank vaults with in-built motion sensors and 24/7 surveillance. It is returned to the customer after full repayment of the loan.

Convenient Repayment Schedule

You can choose to pay the amount either in EMIs or lump sum. The repayment time also depends on the type of loan taken.

Loan Renewal Facility

Loan renewal options are also available in some banks.

Part release facility

The farmers can release a portion of the pledged gold by repaying a sum of money equivalent to its value.

Collateral

Farmers can provide collateral such as gold coins and ornaments as collateral security. However, gold bullion is not accepted in most cases. The quality of the gold is measured before the loan is approved.

Types of loans

This gold loan is available in the form of demand loan and term loan. Applicants can choose among the two types of loans according to their needs and requirements.

Purpose of Agriculture Gold Loan

Buying land for agriculture purposes.
Buying farming equipment as well as cover operating expenses
Buying livestock
Cover warehouse/storage expenses
Help with the marketing expenses
Rural housing-related projects
Consumption requirements (for education, marriage, religious/family functions)

Agriculture Gold loan Eligibility Criteria

Applicant should fulfil the KYC guidelines
Applicants should be between the age of 18 and 65
Applicants should be engaged in agriculture or allied activities
Applicants engaged in activities permitted by RBI to be classified under the agriculture sector.

Documents Required for Agriculture Gold Loan

Application form complete with passport-sized photographs
KYC Documents of the applicant: PAN card, Aadhaar card, Passport, Voter’s ID card, Utility Bills (Water and Electricity) and Driving License
Agriculture land proof
Crop cultivation proof
Business Incorporation Certificate

How to Apply for an Agriculture Gold Loan

Visit the nearest branch of your bank to apply for Agri Gold Loan. Many banks nowadays provide the option of door-step delivery of gold loans. You can opt for any of the methods as per the bank’s policy and your convenience.

Leading Banks offering Gold Loans to Farmers of India

Agriculture Gold Loans	Loan Amount	Loan Tenure
SBI Agriculture Gold Loan	Depends on the weight of gold	12 months / 3 years (for overdraft)
Axis Bank Gold Loan for farmers	From Rs.25,001 to Rs.20 lakh For Overdraft: From Rs.2 lakh to Rs.25 lakh	12 months
Gold Union Loan	Priority sector: Up to Rs.20 lakh Non-Priority Sector: Up to Rs.10 lakh	6 / 12 months
Federal Bank Agri Gold Loan	From Rs.1,000 to Rs.1.5 crore	6 / 12 months
Bank of Baroda Agriculture Gold Loan	Up to Rs.25 lakh	Maximum 12 months
IDBI Agri Gold Loan	From Rs.10,000 to Rs.5 lakh	Min- 1 month Max- 24 months
Bank of Maharashtra Agriculture Gold Loan	Up to Rs.20 lakh	Flexible
South Indian Bank Agri Gold Loan	From Rs.5,000 to Rs.10 crore	6 / 12 months
Kerala Gramin Bank Agriculture Gold Loan	Up to Rs.3 lakh	12 months
Indian Bank	85% of the market value of gold jewels	6 months

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Gold Rate in Indian States

Gold Rate in Popular Cities

Agriculture Gold Loan is a secured gold loan facility that allows farmers to pledge their gold for money. The main purpose of the gold loan is to provide quick access to funds for farmers to meet their needs.

You can get a minimum loan amount of Rs.5000 with zero prepayment charges and low processing charges.

Most banks provide same day loan approval and disbursal on agriculture gold loans.

No, loans that come under the agriculture schemes can be granted and sanctioned by certain branches only.

The agriculture gold loan interest rates start from 7% onwards. This is very low compared to other types of loans.

Applicant should fulfil the KYC guidelines
Applicants should be between the age of 18 and 65
Applicants should be engaged in agriculture or allied activities
Applicants engaged in activities permitted by RBI to be classified under agriculture sector