Gold Loan

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

A gold loan lets you convert idle jewellery into cash quickly, with the jewellery itself acting as collateral. Here are some reasons why you should consider getting a loan against your gold to meet your financial needs: 

• Quick Access to Funds

Gold loans are processed quickly because the loan is secured by your metal. This makes them useful for emergencies when you need funds without delay. 

• Minimal Paperwork Involved

You usually need only basic KYC documents. Lenders rarely insist on complex income proofs, so processing is faster than for unsecured loans. 

• Safe Storage of Your Pledged Gold

Reputed lenders keep pledged jewellery in insured vaults and follow strict handling procedures while your loan is active. 

• Flexible Repayment Options

Choose EMIs, bullet repayment, or part payments to match your cash flow. Many lenders offer multiple repayment plans. 

• Competitive Interest Rates

Gold loans are secured in nature, which is why they usually come with lower borrowing costs than personal loans. On Bajaj Markets, gold loan interest rates start from 9.48% p.a., depending on the lender and your profile. 

• No Restriction on End Use

You can use the funds for any purpose, from medical bills to business needs or education. 

Before applying for an online loan against gold, understand the Gold Loan Eligibility Criteria you might be required to fulfill for your application to be approved: 

Age and Nationality

You must be an Indian citizen with a minimum age of 18 years

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

Before you apply, it’s helpful to know which documents lenders typically ask for when you apply for a gold loan online: 

• Identity Proof: Any one of the following
  • Aadhaar card
  • Passport
  • Driving licence
  • Voter ID
• Address Proof: Any one of the following
  • Aadhaar card
  • Passport
  • Driving licence
  • Utility bills

Here are some simple steps you can follow to apply for a gold loan on Bajaj Markets: 

1. Click on ‘Check Eligibility’ on this page

2. Enter your basic personal details and the required loan amount

3. Click on ‘Submit’

4. After this, your application will be reviewed and an executive will contact you for further proceeding

Here are some major benefits of applying for a gold loan on Bajaj Markets: 

Quick Processing

Thanks to a quick online process, your gold loan application can be reviewed and verified quickly. 

Minimal Paperwork

You can apply for a gold loan on Bajaj Markets with only simple documents related to your ID, address, income, etc. 

Zero Hidden Charges

When you apply for a gold loan on Bajaj Markets, you can be assured of complete transparency with zero hidden charges. 

Security and Trustworthiness

Your pledged gold will be stored safely in vaults with advanced surveillance, ensuring trust and reliability. 

On Bajaj Markets, you can choose from 5+ renowned lenders that offer gold loans in India. Compare and choose an offer that best suits your needs. This can be beneficial for first-time borrowers as well as those looking to opt for a gold loan balance transfer. 

Here are some essential points to keep in mind when applying for a gold loan online: 

Loan-to-Value (LTV) Ratio

The LTV ratio represents the percentage of your gold's value that the lender will provide as a loan.  This is regulated by the RBI and is capped at 75%.  A higher LTV means you receive a higher loan amount, but it also signifies a higher risk for the lender. 

Gold Purity and Valuation

The amount of gold loan per gram is determined by the value of your gold, which depends on purity and weight. Lenders usually accept gold jewellery, coins, and bars with a minimum purity of 18 karats. The gold loan valuation is done by the lender's appraiser, and it's crucial to understand how they assess the value of your gold. 

Interest Rates and Charges

Gold loan interest rates are generally lower than those of personal loans. However, the rates offered typically differ depending on the lender you choose. Apart from the interest rate, be aware of other charges like processing fees, valuation fees, and prepayment penalties. 

Repayment Options

Lenders offer various repayment options, such as bullet repayment (paying the entire principal at the end of the tenure), EMI, and overdraft facility (paying interest only on the amount you use). Choose a repayment plan that suits your financial situation and ensures you can repay the loan on time. 

Loan Tenure

Loans against gold available on Bajaj Markets come with a tenure ranging up to 24 months. A shorter gold loan tenure may mean higher EMIs but lower overall interest outgo, while a longer tenure may have lower EMIs but higher total interest. 

Security and Insurance

Ensure the lender has adequate security measures to safeguard your pledged gold. Inquire about insurance coverage for your gold while it's in the lender's custody.

Lender's Reputation and Transparency

Choose a reputable lender with a good track record and transparent policies. Read the loan agreement carefully and understand all the terms and conditions before signing.

Be sure to compare the interest rates and charges from multiple lenders before choosing a loan against gold. Borrow only the amount you need and can comfortably repay. Make timely repayments to avoid penalties and protect your credit score. Keep all loan-related documents safe and accessible.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions. Basis the information provided during your loan application journey, you may be provided with various offers from our existing loans partners.