Documents and Eligibility Criteria for Gold Loan

Check Your Gold Loan Eligibility Criteria 

A gold loan is a one-stop solution for all your financial emergencies. Taking a gold loan is a quick and easy process. You can take a gold loan with amounts ranging from ₹5000 to ₹2 Crores, at interest rates starting from 10% per annum against gold ornaments and jewellery. You can check the following eligibility criteria before applying for a gold loan:  

Note: Only 18 to 24 karat gold jewellery and ornaments can be pledged for a gold loan. Gold coins that weigh up to 50 grams and are issued by banks are also eligible. Gold bars are not eligible as collateral for gold loans.

Gold Loan Eligibility Calculator

Thanks to the gold loan eligibility calculator you can instantly calculate the funds you would be able to borrow against the gold you plan to pledge. This free online tool will help in making the loan procedure simpler and quicker. You can use the gold loan eligibility calculator to check the gold loan eligibility criteria. You can also check the amount that can be borrowed based on the number of gold ornaments and jewellery, their respective weights and their purity in karats.

Documents Required for Gold Loan

You shall need the following documents while taking a gold loan from Bajaj Markets:

Gold Loan Eligibility Per Gram

The rate of gold per gram is the maximum sum that you can get in exchange for 1 gram of gold that you’ve pledged. This rate is also known as LTV (Loan to Value) and is evaluated based on the current market value of gold. As per RBI guidelines, this amount is limited to 75% of the value of your gold ornaments or jewellery. Gold loan per gram eligibility is calculated from several factors, such as the nature of your gold articles, the weight of the gold, its purity, and the current market value of gold.

Benefits Of Using Gold Loan Eligibility Calculator

Let's take a quick look at the various benefits that you can enjoy when you use a gold loan eligibility calculator:

1. Quick and Accurate calculations

Say goodbye to tedious calculations. A gold loan calculator is designed to give super-speedy and exact results every time you use it. In a matter of a few seconds, you can calculate the EMI that your gold loan will require.

2. Simple to use

The usage process of a gold loan calculator is very basic and straightforward. You simply need to follow the instructions and get the required results.

3. Plan your finances

When you know the exact amount that you would have to pay as an EMI, you can easily plan your monthly budget and your goals. Using the calculator before taking the loan will allow you to increase or decrease the EMI as per your requirements.

4. Comparing loans becomes easy

With the calculator, you can easily draw a comparison between two or more lenders. As a borrower, you will be able to make a more well-informed decision and choose the best gold loan available.