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BAJAJ FINSERV DIRECT LIMITED

Gold Loan in Bangalore

A gold loan is a convenient way to get low-risk credit quickly and easily. As you pledge gold as a collateral, the loan approval process becomes seamless.

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Required Gold Weight

16 gms

Monthly EMI

₹ 8,367

Total Interest

₹ 401

Total Payment

₹ 100,401

Today’s Gold Rate @ ₹ 9053 / Gm for 22k purity

Select Type

Required Loan Amount

Interest Rate

- +

Tenure

- +

Check Eligibility

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

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Why Choose Lenders on Bajaj Markets for a Gold Loan in Bangalore

Different gold loan providers in Bangalore may offer a loan with varying interest rates and Loan-to-value (LTV) ratios. Instead of going from one local gold dealer to another, Bajaj Markets lets you compare multiple lenders in one place. This ensures you get the best possible deal without the hassle of visiting multiple branches.

Here are some more benefits you should know:

Fast Processing

With a seamless digital application process, your loan request can be reviewed and approved swiftly.

Minimal Documentation

The online documentation system simplifies the gold loan application, making it hassle-free.

No Hidden Fees

Applying for a gold loan through Bajaj Markets ensures complete transparency, with no undisclosed charges.

Reliability

The entire gold loan online application process is conducted transparently, ensuring trust and peace of mind.

Features and Benefits of Gold Loans

Gold loans come with easy-to-meet eligibility criteria and documentation. They are offered at affordable gold loan interest rates and flexible repayment options.

Here are some more of the key features and benefits of getting a loan for gold:

Part-release Facility

You have the option to repay a portion of your loan and reclaim part of the pledged gold before the tenure ends.

High Loan Amount

You can secure up to 75% of your gold’s current market value, making it easier to access funds.

Flexible Repayment Options

Repay your loan through monthly, bi-monthly, quarterly, half-yearly, or annual payments based on your preference.

No Pre-closure Charges

You can repay or close your loan early without any additional fees.

No Credit Score Requirement

Your credit score is not a major factor in the approval process of loan on gold jewellery, so it is accessible to a wider range of borrowers.

*Disclaimer: Terms and conditions apply to the benefits mentioned above, and these may vary from one lender to another.

Eligibility Criteria

Before applying for a gold loan in Bangalore you need to understand the eligibility criteria you might be required to fulfill for your application to be approved.

Here are the requirements listed:

Age

You need to be at least 18 years old

Nationality

You must be an Indian citizen

Employment

You must be a salaried employee/self-employed individual/ entrepreneur/ farmer/ trader

Gold Purity

The purity of the gold submitted as collateral should be at least 18 karats

Documentation Required for a Loan against Gold

In addition to fulfilling the eligibility criteria for loan against gold requirements, you also have to provide a list of documents when apply for a loan for gold:

Here’s the list:

Any one of the following identity proofs:

Driving licence
Voter ID
Aadhaar card
Passport

Any one of the following address proofs

Aadhaar card
Passport
Driving licence
Utility bills

How to Apply for a Gold Loan in Bangalore

The application procedure can be completed online with minimal steps involved. Here is how you can proceed to apply for a gold loan through Bajaj Markets:

Visit Bajaj Markets gold loan page
Click on ‘CHECK ELIGIBILITY’

If you want to calculate the loan amount you might be eligible for approximately, you can use the amount:weight gold loan calculator available on the page. Just enter the weight of the gold you are about to pledge, and the calculator will display the approximate loan amount.

Once you have checked this loan amount, you can further enter your basic personal details in the adjacent form
Select the loan type
Enter your name, mobile number, date of birth, email address, and pincode
Add the required loan amount
Select your gender
Tick mark the terms and conditions you agree with
Click on ‘SUBMIT’
After this, your application will be reviewed and an executive will contact you for further proceeding

Gold Loan Interest Rates in Bangalore

Our Partners	Minimum Interest Rate	Minimum Loan Amount	Loan Tenure
Bajaj Finserv	9.50% p.a.	₹5,000	Up to 12 Months Check Eligibility
IIFL Finance	11.88% p.a.	₹3,000	24 Months Check Eligibility
indiagold	9.24% p.a.	₹ 20,000	61 Days - 12 Months Check Eligibility
Muthoot Finance	9.96% p.a.	₹1,500	7 Days - 36 Months Check Eligibility
Muthoot FinCorp ONE	9.96% p.a	₹1,550	3 Months - 12 Months Check Eligibility
Rupeek	8.88% p.a.	₹25,000	3 Months - 12 Months Check Eligibility

*Disclaimer: The rates are subject to change at the lender’s discretion.

Frequently Asked Questions (FAQs)

What is a gold loan, and how does it work?

A gold loan is a secured loan where you pledge your gold ornaments (typically 18-24 karats) as collateral to borrow funds from a lender.

Who is eligible to apply for a loan against gold in Bangalore?

Any Indian citizen above the age of 18 years and has at least 18 karats of gold to pledge can apply for the loan.

What documents are required to apply for a gold loan?

You will require identity and address proofs such as your Aadhar card, utility bills, passport, driving licence, voter id card, etc.

How is the value of my gold determined?

Lenders assess the purity of your gold, for example whether it is 22K or 24K. They also check the weight, and current market price of the gold. The loan amount is then calculated based on the Loan-to-value (LTV) ratio applied to the gold's market value.

What are the current interest rates for gold loans in Bangalore?

Gold loan rates in Bangalore available on Bajaj Markets start from 8.88%. Whether you reside in Bangalore or any other city in India, applying through this online mode can be a good option.

How long does it take to process and disburse the loan amount?

Gold loans in Bangalore are processed and disbursed quickly once the pledged gold and submitted documents are verified.

What repayment options are available for gold loans?

You can choose a repayment option which best suits your needs and preferences. These options usually include bullet payments, EMIs, part payments, and so on.

What happens if I default on my gold loan repayment?

If interest payments are not made by the due date, despite getting reminders, the lender might impose penalties or even might auction your gold.

Can I prepay or foreclose my gold loan? Are there any charges?

Many lenders allow prepayment, but some may charge foreclosure fees based on the loan terms.

How do fluctuations in gold prices impact my gold loan?

If gold prices rise, your loan eligibility may increase. Conversely, a decline in gold prices may reduce the amount you can borrow.

How much loan can I get per gram for a gold loan in Bangalore?

The loan amount per gram is calculated based on the gold rate, which is currently ₹6,785 per gram for 22-karat gold on Bajaj Markets.

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Gold Loan in Bangalore

Why Choose Lenders on Bajaj Markets for a Gold Loan in Bangalore

Features and Benefits of Gold Loans

Eligibility Criteria

Documentation Required for a Loan against Gold

How to Apply for a Gold Loan in Bangalore

Gold Loan Interest Rates in Bangalore

Frequently Asked Questions (FAQs)

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