Learn how a gold loan helps in times of financial need and how tools like a Bajaj Finserv Gold Loan Calculator make it easier for borrowers.
Gold has always been a trusted asset in Indian homes. During emergencies or urgent money needs, many people prefer using gold to get quick funds. A gold loan is a simple and fast way to borrow money by using gold jewellery as security. This article explains how a gold loan works, its benefits, and how Bajaj Finance makes the process easy and reliable for everyone.
How does a gold loan work?
A gold loan is a type of secured loan. The borrower gives their gold jewellery to a lender as security. In return, the lender gives a loan amount based on the value of the gold. This amount can be used for anything—like school fees, medical bills, or wedding expenses.
With Bajaj Finserv Gold Loan, you can get a loan starting from Rs. 5,000 to Rs. 2 crore against your 18-22 karat gold jewellery. This loan comes with competitive interest rates, convenient repayment options and minimal paperwork.
You can apply online via the Bajaj Finserv App or website or simply visit the nearest gold loan branch in your city. Once your gold is evaluated and document verified, the loan amount is disbursed as per the terms agreed upon.
The gold stays safe in a secured locker with the lender until the loan is fully paid back. After repayment, the same gold is returned without any damage or changes. This way, the customer gets their money quickly without selling their gold.
What are the benefits of taking a gold loan?
Gold loans offer several benefits that make them a smart choice during financial stress. Some key advantages are:
- Quick approval and disbursal
Gold loans do not need a long approval process. Bajaj Finance completes the gold check and paperwork within minutes. The loan is usually disbursed on the same day, making it very helpful for urgent needs. - No impact on credit score
Unlike personal loans, there is no need to worry about credit history. Even people with low or no credit score can get a gold loan if they have gold jewellery of good purity. Though for loans above Rs. 5 lakh, you would need to submit your PAN card details as well. - Multiple repayment options
Bajaj Finance allows borrowers to repay the loan as per their comfort. One can choose to pay the interest monthly, bi-monthly, quarterly, half-yearly or annually. Though the principal or pending interest, if any, needs to be paid before the tenure ends. These choices help customers manage their finances better. - High loan value for gold
Bajaj Finance offers a high loan-to-value (LTV) ratio of up to 75%, meaning customers can get a large amount for their gold. This is helpful when the borrower needs more funds than what a regular personal loan may provide. - Safe storage of gold
The gold pledged is stored safely in a secure vault under full protection. Borrowers do not have to worry about the safety of their jewellery while it is with Bajaj Finance. - Use of online tools like the gold loan calculator
Bajaj Finance offers a simple gold loan calculator on its website. Borrowers can enter the loan amount, interest rate, and repayment tenure to see how much they need to pay every month. This helps in planning the repayment without stress.
Why choose Bajaj Finance for a gold loan?
Bajaj Finance is a trusted name that offers gold loans with full transparency. Their branch network and fast loan processing make them one of the top choices in India. With benefits like easy repayment, secured gold storage, and online tools like the gold loan calculator, borrowers can meet their financial needs without hassle.
In short, a gold loan from Bajaj Finance is not just quick and safe, but also smart. It turns idle gold into a helpful financial support without losing ownership. Whether it is for urgent medical treatment or school fees, gold loans are a handy way to get money when it matters most. Apply now!
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