Bajaj Finserv Gold Loan Rate Per Gram

The Bajaj Finserv gold loan per gram refers to the estimated lending value per gram of gold used as collateral. This rate is used to estimate the total loan amount you may receive based on the weight and purity of the gold. As per guidelines set by the Reserve Bank of India (RBI), lenders can generally offer a loan of up to 75% of the gold’s market value, which is known as the loan-to-value (LTV) ratio.

The exact loan value per gram generally depends on the purity of the pledged gold and the prevailing gold prices in India. Higher purity gold usually receives a higher valuation, which may increase the eligible loan amount. Understanding the per gram rate in advance can help estimate how much loan you may qualify for before submitting an application.

Bajaj Finserv provides gold loans based on the prevailing market price of gold and the purity of the jewellery pledged. The current gold loan rate per gram details are as follows:

• Interest Rates: Rates starting from 9.48% onwards per annum, depending on the loan amount and repayment scheme selected

• Loan per Gram: Up to 75% of the market value of the pledged gold, in line with RBI guidelines. For example, if 22K gold is priced at around ₹14,920 per gram, the eligible loan amount may be approximately ₹11,190 per gram, subject to purity verification.

• Loan Amount: Available from ₹5,000 up to ₹2 Crores, depending on the value of the gold pledged

• Tenure: Flexible repayment tenures of up to 24 months are available

• Repayment Options: Options include monthly interest payments, bullet repayment (principal and interest at the end), or regular Equated Monthly Instalments (EMIs), depending on the chosen repayment structure

Several global and domestic elements influence the final Bajaj Finserv gold loan per gram during your application, which include:

• International Gold Prices: Global market trends and geopolitical events play a major role in setting the domestic market gold price, impacting the rate you receive

• Demand and Supply: High local demand for gold generally increases the per gram valuation, whereas low demand may bring the market prices down

• Market Conditions: Economic factors such as inflation, market fluctuation, and currency changes affect gold rates; gold often rises as a safe investment during uncertainty

• Gold Purity: The higher the purity of your assets, the better the per gram rate; for example, 22K gold will always fetch a higher rate than lower purity ornaments

A gold loan per gram calculator helps estimate the loan amount you may receive based on the value of the gold pledged. The Bajaj Finserv gold loan calculator uses the value of 22-karat gold and applies a LTV ratio of up to 75% of the jewellery’s market value to generate estimates. By entering a few basic details, the tool provides a clear overview of the loan amount, gold requirement, and interest payable.

The steps to use the calculator are as follows:

1. Set the Loan Amount: Use the slider or manually enter the loan amount you want to borrow, such as ₹2 Lakhs

2. Enter the Interest Rate: Input or adjust the interest rate according to the loan offer you want to review

3. Select the Repayment Option: Choose the repayment frequency from the available options, including monthly, bi-monthly, quarterly, half-yearly, or yearly

4. View the Estimated Results: The calculator then displays an estimate showing the total annual interest payable, the approximate gold weight required to be pledged, the lending rate per gram, and the estimated monthly interest payable

Applying for a Bajaj Finserv gold loan through Bajaj Markets provides several features designed to make the borrowing process convenient. The main benefits are as follows:

• Higher Loan Amount Availability: Eligible applicants may receive financing of up to ₹2 Crores, depending on the value of the pledged gold and applicable lending norms

• Competitive Interest Rates: The loan is available at interest rates starting from 9.48% per annum, which can help reduce the overall borrowing cost

• Flexible Repayment Schedules: Multiple repayment options are available, including monthly, bi-monthly, quarterly, half-yearly, or annual payments, along with the option to make partial repayments during the loan tenure

• No Prepayment or Foreclosure Charges: Borrowers can repay their gold loan before the end of the tenure without incurring additional prepayment or foreclosure penalties

• Partial Gold Release Facility: A portion of the pledged gold may be released by paying the equivalent loan amount associated with that collateral

• Transparent Gold Evaluation Process: Bajaj Finserv uses standardised equipment and evaluation processes across branches to determine the value of the pledged gold

• Complimentary Gold Insurance: The pledged jewellery remains insured against theft or loss while it is in the lender’s custody

• Loan Renewal Option: Borrowers may renew their gold loan at the end of the tenure if the LTV ratio complies with regulatory requirements and a fresh credit appraisal is completed

• Top-up Facility on Existing Loans: Additional funds may be available through a top-up on an existing gold loan before the loan reaches maturity, subject to eligibility and regulatory LTV norms

Certain eligibility conditions need to be fulfilled when applying for a Bajaj Finserv gold loan per gram through Bajaj Markets. The key criteria are as follows:

• Nationality Requirement: The applicant must be an Indian citizen to be eligible for applying for a gold loan

• Age Criteria: Applicants must generally fall within the age range of 21 to 80 years at the time of application
  
  

Eligibility also depends on the type and specifications of the gold collateral being pledged.

• Gold Purity Requirement: The pledged gold should typically have a purity between 18 and 22 karats for evaluation and loan eligibility

• Eligible Gold Collateral: The loan is provided against collateral, and acceptable items generally include gold ornaments, jewellery, and gold coins

• Collateral Weight Limits: The total pledged gold weight across loans must comply with limits, such as up to 1 kilogram for ornaments and up to 50 grams for gold coins

• Maximum Loan Exposure Limit: The total loan amount across pledged ornaments, jewellery, and coins should not exceed the maximum permitted loan limit of ₹2 Crores

The documents required for a Bajaj Finserv gold loan per gram via Bajaj Markets commonly include documents such as:

• Aadhaar card

• Passport

• Driving licence

• NREGA job card

• Letter issued by the National Population Register

• Voter ID card

• PAN card for loan amounts of ₹5 Lakhs or above

You can apply for a Bajaj Finserv Gold Loan on Bajaj Markets through the official website or mobile app by following these steps:

1. To start, click on the ‘CHECK ELIGIBILITY’ button available on https://www.bajajfinservmarkets.in/gold-loan/bajaj-finserv-gold-loan.amp page, or download the Bajaj Markets App from the Google Play Store or App Store

2. Choose ‘New Gold Loan’ as your loan type

3. Fill in your personal details, such as your name, mobile number, and date of birth

4. Enter the loan amount you require and your PIN code

5. Select your gender (male, female, or other) and provide your email address

6. Click on ‘SUBMIT’ to complete your request
    

After this, a representative of the lender will reach out to you and schedule a date to appraise your gold’s value.