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BAJAJ FINSERV DIRECT LIMITED

Gold Loan in Chennai

A gold loan offers a quick and hassle-free way to access credit with minimal risk. Since the loan is secured against your gold, the approval process is smooth and straightforward.

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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 Bajaj Markets for Your Gold Loan in Chennai

You can get a gold loan from different local and online gold loan providers; however, each of them may offer varying interest rates and loan-to-value (LTV) ratios. Instead of visiting multiple local gold dealers, Bajaj Markets allows you to compare multiple lenders online. This helps you secure the best possible deal without the hassle of traveling to different branches.

Here are some of the key benefits of getting a gold loan from Bajaj Markets:

Fast Processing

A smooth digital application process ensures that your loan request is reviewed and approved quickly.

Minimal Documentation

The online system simplifies documentation, making the application process hassle-free.

No Hidden Fees

With Bajaj Markets, you get complete transparency, as there are no undisclosed charges.

Reliability

The gold loan process is conducted with full transparency, ensuring trust and peace of mind.

Features and Benefits of Gold Loans

Gold loans have simple eligibility criteria and minimal documentation requirements. They come with affordable interest rates and flexible repayment options, making them a convenient choice for quick financing.

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

Part-release Facility

Repay a portion of your loan and reclaim part of your pledged gold before the tenure ends.

High Loan Amount

Get up to 75% of your gold’s current market value, providing easy access to funds.

Flexible Repayment Options

Choose to repay through monthly, bi-monthly, quarterly, half-yearly, or annual payments as per your preference.

No Pre-closure Charges

Close your loan early without incurring additional fees.

No Credit Score Requirement

Gold loans do not depend heavily on your credit score, making them accessible to more 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, it is important to know the loan eligibility criteria that lenders may require for approval.

Here are the key requirements:

Citizenship: You must be an Indian citizen
Employment Type: You must be an entrepreneur/ farmer/ trader/salaried employee/self-employed individual
Age: You need to be at least 18 years old
Gold as Collateral: The purity of the gold submitted as collateral should be at least 18 karats

Documentation Required for a Loan against Gold

Once you meet the gold loan eligibility criteria, you need to submit specific documents when applying for a gold loan.

Here are the required documents:

Any one of the following address proofs

Driving licence
Utility bills
Aadhaar card
Passport

Any one of the following identity proofs:

Aadhaar card
Passport
Driving licence
Voter ID

How to Apply for a Gold Loan in Chennai

Applying for a gold loan is a simple and quick process that can be completed online.

You can follow the below given steps:

1. Visit the Bajaj Markets gold loan age

2. Click on ‘CHECK ELIGIBILITY’

If you want to estimate the loan amount you may be eligible for, use the amount-to-weight calculator on the page. Enter the weight of the gold you plan to pledge, and the calculator will display an approximate loan amount.

3. Provide your name, mobile number, date of birth, email address, and pincode in the adjacent form

4. Select loan type and amount

5. Agree to the terms & conditions

6. Click ‘SUBMIT’

After submission, your application will be reviewed, and a representative will get in touch to guide you through the next steps.

Gold Loan Interest Rates in Chennai

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 jewellery (usually 18-24 karats) as collateral to borrow money from a lender. The loan amount is determined based on the gold’s value.

Who is eligible to apply for a gold loan in Chennai?

Any Indian citizen who is at least 18 years old and owns gold with a minimum purity of 18 karats can apply for a gold loan.

What documents are required to apply for a gold loan?

You need to submit identity and address proofs such as an Aadhaar card, passport, voter ID, driving licence, or utility bills.

How is the value of my gold determined?

The lender evaluates the gold’s purity from its karats, weight, and current market price. The loan amount is then calculated based on the Loan-to-Value (LTV) ratio applied to the gold’s assessed value.

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

Gold loan interest rates on Bajaj Markets start from 8.88%. You can apply online, from whichever city you come from.

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

Gold loans are typically processed and disbursed quickly after verifying the pledged gold and submitted documents.

What repayment options are available for gold loans?

Repayment options may include monthly EMIs, bullet payments, part payments, or other flexible plans based on the lender’s terms.

What happens if I default on my gold loan repayment?

If repayments are missed, the lender may charge penalties. In case of continued non-payment, the gold pledged as collateral may be auctioned.

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

Many lenders allow prepayment or foreclosure, but some may charge a fee based on the loan agreement.

How do fluctuations in gold prices impact my gold loan?

If gold prices increase, your loan eligibility may rise. If prices fall, the loan amount you qualify for may decrease.

How much loan can I get per gram of gold in Chennai?

The loan per gram depends on the current gold rate. Check for the current rate for 22 karat gold in Chennai, on Bajaj Markets.

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Gold Loan in Chennai

Why Choose Bajaj Markets for Your Gold Loan in Chennai

Features and Benefits of Gold Loans

Eligibility Criteria

Documentation Required for a Loan against Gold

How to Apply for a Gold Loan in Chennai

Gold Loan Interest Rates in Chennai

Frequently Asked Questions (FAQs)

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