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BAJAJ FINSERV DIRECT LIMITED

Gold Loan in Aurangabad

Get quick and accessible financial solutions with a gold loan in Aurangabad. Use your gold to secure funds at competitive interest rates.

Required Gold Weight

9 gms

Monthly EMI

₹ 8,367

Total Interest

₹ 401

Total Payment

₹ 1,00,401

Today’s Gold Rate @ ₹ 15740 / Gm for 22k purity

Select Type

Required Loan Amount

Interest Rate

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Tenure

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Check Eligibility

You can also make instant comparisons between gold loan offers from over 6 loan providers on Bajaj Markets

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If you’re looking for a practical way to access funds in Aurangabad, a gold loan could be the solution. By pledging your gold as collateral, you can secure a gold loan in Aurangabad without having to sell your valuable assets.

Whether you’re facing an emergency or looking to grow your business, a gold loan can provide you with the funds you need, quickly and efficiently. Gold loans are available on Bajaj Markets from various lenders, offering you a flexible and accessible way to meet both personal and business financial needs.

Importance of Gold Loans in Aurangabad's Economy

Gold loans play a crucial role in providing you with financial support when you need it most. They offer you a way to access funds quickly, using your gold as collateral without the need to sell it.

Here’s how gold loans contribute to Aurangabad’s economy and can benefit you:

Boosts Financial Inclusion

If you don't have access to traditional credit, a gold loan can still be an option for you, as it doesn’t require a formal credit history. This allows more people in Aurangabad to benefit from financial services.

Support for Small Businesses

As a small business owner in Aurangabad, you can use a gold loan to cover working capital needs, expand your business, or purchase stock without the delays of conventional loans.

Agricultural Financing

If you're a farmer, a gold loan can help you cover seasonal expenses, purchase equipment, or manage unexpected financial challenges, allowing you to continue your agricultural activities smoothly.

Affordable Interest Rates

With gold loan interest rates often lower than unsecured loans, you can access funds at a much more affordable rate, reducing your overall financial burden.

No Credit Checks Required

Unlike other loans, a gold loan doesn’t require you to undergo a credit check, making it easier for you to borrow even if you don't have a high credit score.

Quick Processing and Disbursal

If you need funds urgently, a gold loan can provide you with quick approval and disbursal, ensuring you have access to money when you need it the most.

Helps with Emergency Financing

Whether it’s for medical expenses, an unexpected business opportunity, or an urgent financial need, a gold loan can provide you with immediate funds to cover such expenses without the need to sell your gold.

How to Apply for a Gold Loan in Aurangabad

Applying for a gold loan in Aurangabad is simple and can be done easily through Bajaj Markets. Here's a simple step-by-step guide to help you through the process:

Visit the official Bajaj Markets page to check out available gold loan options
Navigate to the gold loan section and click on the ‘Check Eligibility’ option
Fill in the necessary personal details and the amount of loan you wish to apply for
After filling out the required information, click on ‘Submit’ to move forward
Your application will be reviewed by the lender, who will assess your eligibility based on your provided details

A representative will contact you to guide you through the rest of the process.

Gold Loan Interest Rates in Aurangabad Today

You can compare different gold loans on Bajaj Markets to find the best gold loan that offers competitive interest rates and suitable terms.

Here’s an overview of some of the current gold loan interest rates from leading lenders:

Lender Name	Minimum Interest Rate
Bajaj Finserv	9.50% p.a.
indiagold	10.20% p.a.
Muthoot FinCorp ONE	9.96% p.a.
IIFL Finance	11.88% p.a.
Rupeek	9.48% p.a.
Fedfina	12.00% p.a.

Disclaimer: The interest rates mentioned above are indicative and may vary based on the lender’s policies and borrower’s eligibility. Please check with the respective lender for the latest terms before applying.

The interest rate on a gold loan in Aurangabad varies depending on several factors, including the current market value of gold, your chosen lender, and the loan terms. Since gold prices fluctuate daily, the loan amount you can receive will change based on the prevailing market rates.

Lenders calculate the loan amount you are eligible for based on the current gold prices, with higher gold rates potentially leading to a higher loan amount. However, the interest rate on the loan itself will be determined by the policies of the lender, the amount you wish to borrow, the gold loan tenure, and your creditworthiness.

Gold Loan Eligibility and Documents in Aurangabad

Before applying for a gold loan in Aurangabad, it's essential to understand the basic eligibility criteria and required documents. Ensuring you meet these conditions will help streamline your application process and ensure quick approval.

Eligibility Criteria

To be eligible for a gold loan, you must meet the following requirements:

Indian Citizenship

You must be an Indian citizen to apply for a gold loan.

Age Requirement

You must be at least 18 years old when applying for the loan.

Employment Status

You can be a salaried employee, self-employed, an entrepreneur, a trader, or a farmer. Lenders offer gold loans to individuals from all professions.

Gold Purity

The gold pledged as collateral should have a minimum purity of 18 karats to qualify for the loan.

Documents Required

The documentation process for a gold loan is simple, making it one of the easiest forms of secured credit.

The following documents are typically required:

Document Type	Accepted Documents
Identity Proof	Aadhaar Card, Passport, Driving License, or Voter ID
Address Proof	Aadhaar Card, Passport, Driving License, or a recent Utility Bill

These documents ensure that lenders can verify your identity and address quickly. The process is simple, and no complex paperwork is involved.

Features and Benefits of Gold Loans in Aurangabad

Gold loans in Aurangabad offer several advantages, making them an attractive financial option.

Here are the key features and benefits:

Quick Loan Approval and Disbursal

Gold loans are known for their fast approval process, often completed within hours. Since the loan is secured by gold, there is minimal paperwork, and approval is based primarily on the value of the gold.

Low Interest Rates

Compared to unsecured loans like personal loans, gold loans typically offer lower interest rates. This makes them an affordable option for people looking to borrow without facing high repayment burdens.

No Credit Check Required

One of the biggest advantages of a gold loan is that you don’t need a high credit score to qualify. Since the loan is secured against gold, lenders do not require a detailed credit history, making it easier for individuals with low or no credit score to access funds.

Flexible Loan Amount

You can avail of a loan based on the value of the gold you pledge. Lenders typically offer loans up to 75% of the market value of the pledged gold, ensuring that you get the right amount of funding to meet your needs.

Retain Ownership of Gold

Unlike selling your gold, a gold loan allows you to retain ownership of your valuable assets. Once you repay the loan, you can get your gold back, making it a safer and more flexible option for short-term financing.

Easy to Apply and Process

The gold loan application process is simple and can be completed either online or at a branch. The minimal documentation and fast processing make it an easy option for those needing quick funds.

Emergency Financing Option

Gold loans serve as a reliable emergency funding solution. Whether it’s medical expenses, business needs, or personal emergencies, a gold loan can help you access funds quickly when time is of the essence.

Loan Amount for Gold Loans in Aurangabad

The amount you can borrow against your gold in Aurangabad is determined by the weight and purity of the gold you offer as collateral. Generally, lenders provide loans that cover up to 75% of your gold's market value, based on guidelines set by the Reserve Bank of India (RBI). This means that the higher the weight and purity of your gold, the greater the loan amount you could qualify for.

Gold loans are an effective way to access funds without selling your valuable assets. Whether you need money for personal expenses, business needs, or an urgent situation, a gold loan allows you to unlock the value of your gold jewellery. The process is quick and efficient, requiring little paperwork, making it an ideal solution for those who need immediate access to funds.

How to Calculate Gold Loan Amount for Your Gold in Aurangabad

To determine how much you can borrow against your gold, lenders calculate the gold loan amount based on its current market value.

Here's how the process works:

Purity and Weight of Gold

The purity of the gold you pledge (measured in karats) and the weight of the gold are the primary factors in calculating the loan amount. The higher the purity and weight, the higher the loan amount you can qualify for.

Loan-to-Value (LTV) Ratio

Most lenders in Aurangabad offer up to 75% of the gold’s market value as the loan amount. The LTV ratio helps determine how much of your gold’s value you can borrow. For example, if the current market value of your gold is ₹1,00,000 and the LTV ratio is 75%, you may be eligible for a loan of ₹75,000.

Market Value of Gold

Since the value of gold fluctuates daily, the loan amount you are eligible for can vary based on the prevailing market price of gold. Ensure that the lender uses an accurate and up-to-date value for gold.

Repayment Options for Gold Loans in Aurangabad

Lenders in Aurangabad offer several repayment options for gold loans, giving you the flexibility to choose a plan that suits your financial situation:

Bullet Repayment

With bullet repayment, you pay the entire principal amount at the end of the loan term. This option is perfect if you want to repay the loan in one lump sum after you’ve gathered the necessary funds.

Part-payment Option

This option allows you to make partial repayments throughout the loan term, reducing the principal balance over time. It’s ideal for borrowers who can afford to pay more than the regular EMIs when their financial situation allows.

EMI (Equated Monthly Instalments)

You can repay your gold loan through fixed monthly instalments over a pre-determined period. This structured repayment plan helps you manage your finances smoothly and is ideal for borrowers who prefer consistent payments.

Interest-only Repayment

With interest-only repayment, you pay only the interest on the loan during the loan tenure, with the principal due at the end of the term. This option is beneficial for those who want to reduce their monthly payment burden and manage their cash flow more effectively.

Safety and Security of Gold Collateral in Aurangabad

When you pledge your gold as collateral for a loan in Aurangabad, ensuring its safety is a priority for most reputable lenders.

Here’s how your gold is protected:

Insured Vault Storage

Your gold will be stored securely in insured vaults at the lender’s premises, providing peace of mind that your collateral is safe throughout the loan term. This storage is designed to prevent theft or damage, offering enhanced security for your valuable asset.

Gold Remains with Lender

The gold stays securely stored with the lender until the loan is fully repaid, reducing any risk of it being misplaced or lost. This assures you that your asset remains safe, allowing you to access funds without worrying about its security.

Peace of Mind

By choosing a trustworthy lender, you can rest assured that your gold is protected under strict security measures. This ensures that, while you benefit from your gold loan, your collateral remains in safe hands.

Why Choose Bajaj Markets to Avail a Gold Loan in Aurangabad

If you’re considering a gold loan in Aurangabad, Bajaj Markets offers several advantages that make it an excellent choice for securing your loan:

Quick and Easy Processing

Bajaj Markets provides a fast digital application process, enabling you to get your loan application reviewed and approved quickly. The online platform makes the entire process convenient, allowing you to apply from the comfort of your home.

Minimal Documentation

Bajaj Markets streamlines the documentation process, making it hassle-free and convenient. You only need to submit basic identification and address proof documents, making the process quick and easy.

Transparent and No Hidden Charges

With Bajaj Markets, you can expect complete transparency in your loan terms. There are no hidden charges or surprises, ensuring you know exactly what you are paying for and can plan your repayment schedule accordingly.

Security and Trustworthiness

Your gold is safely stored in insured vaults throughout the gold loan tenure, providing extra security and peace of mind. The entire loan process is transparent and trustworthy, with reputable lenders offering you competitive terms.

Wide Range of Lenders

Bajaj Markets gives you access to multiple renowned lenders, allowing you to compare and choose the best gold loan in Aurangabad suitable for you. This flexibility helps you find a loan offer that meets your specific financial needs.

Gold Loans in Other States

Gold Loan Bangalore	Gold Loan Chennai
Gold Loan Delhi	Gold Loan Kerala
Gold Loan Pune

Frequently Asked Questions

How can I get an instant gold loan in Aurangabad?

To get an instant gold loan in Aurangabad, you can apply online or visit a branch of a lender offering gold loans. The process is fast, with approval usually provided within hours, depending on the lender's processing time. Ensure you have the necessary documents ready, such as proof of identity and address, to expedite the process.

What is the minimum gold purity required for a gold loan in Aurangabad?

Most lenders require a minimum gold purity of 18 karats to qualify for a gold loan. The higher the gold purity, the greater the loan amount you may be eligible for, as lenders calculate the loan amount based on the current market value of your gold.

Which banks and NBFCs offer the best gold loan interest rates in Aurangabad?

Interest rates for gold loans in Aurangabad may vary from lender to lender. Popular banks and NBFCs such as Bajaj Finance and IIFL Finance offer competitive interest rates.

How is the gold loan amount determined in Aurangabad?

The loan amount for your gold loan in Aurangabad is determined based on the weight, purity, and market value of the gold you pledge. Most lenders offer up to 75% of the gold’s current market value, with the final loan amount being subject to the lender's policies and guidelines.

What are the eligibility criteria for a gold loan in Aurangabad?

To be eligible for a gold loan in Aurangabad, you must be an Indian citizen, at least 18 years old, and have gold with a minimum purity of 18 karats gold. You can be salaried, self-employed, or a farmer. The lender will also verify your identity and address using government-issued documents.

Can I apply for a gold loan online in Aurangabad through Bajaj Markets?

Yes, you can apply for a gold loan online in Aurangabad through Bajaj Markets.

Is my pledged gold safe with lenders in Aurangabad?

Yes, reputable lenders in Aurangabad ensure that your gold is stored securely in insured vaults. These vaults protect your gold from theft or damage until the loan is repaid in full, providing peace of mind throughout the loan term.

Can I repay my gold loan early in Aurangabad without extra charges?

Many lenders allow you to repay your gold loan early without incurring additional charges. However, it’s important to check the specific terms and conditions of your lender, as some may have prepayment fees or penalties.

What documents are required to apply for a gold loan in Aurangabad?

To apply for a gold loan in Aurangabad, you’ll typically need to provide identification proof (Aadhaar card, passport, etc.), address proof (Aadhaar card, utility bill, etc.), and your gold as collateral. Additional documents may be required depending on the lender's policies.

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Gold Loan in Aurangabad

Importance of Gold Loans in Aurangabad's Economy

Boosts Financial Inclusion

Support for Small Businesses

Agricultural Financing

Affordable Interest Rates

No Credit Checks Required

Quick Processing and Disbursal

Helps with Emergency Financing

How to Apply for a Gold Loan in Aurangabad

Gold Loan Interest Rates in Aurangabad Today

Gold Loan Eligibility and Documents in Aurangabad

Eligibility Criteria

Documents Required

Features and Benefits of Gold Loans in Aurangabad

Quick Loan Approval and Disbursal

Low Interest Rates

No Credit Check Required

Flexible Loan Amount

Retain Ownership of Gold

Easy to Apply and Process

Emergency Financing Option

Loan Amount for Gold Loans in Aurangabad

How to Calculate Gold Loan Amount for Your Gold in Aurangabad

Purity and Weight of Gold

Loan-to-Value (LTV) Ratio

Market Value of Gold

Repayment Options for Gold Loans in Aurangabad

Bullet Repayment

Part-payment Option

EMI (Equated Monthly Instalments)

Interest-only Repayment

Safety and Security of Gold Collateral in Aurangabad

Insured Vault Storage

Gold Remains with Lender

Peace of Mind