Bajaj Finserv revises gold loan interest rates, offers starting at 9.50%

A borrower can get access to the loan amount he needs by pledging gold jewelery lying idle in the house. Since gold jewelery acts as a security, the interest rate on the loan is usually lower than that of an unsecured loan.

This is one of the main reasons that make secured loans the preferred alternative to unsecured loans and credit cards.

Borrowers can apply for a Bajaj Finserv Gold Loan up to 2 crore by pledging gold ornaments. The loan can be used to meet any planned or unplanned financial need – from medical emergencies to urgent home repairs or any other unforeseen event.

Here are some of the key reasons to apply for a Bajaj Finserv Gold Loan:

Part-release facility: Borrowers can also avail part-release facility – which allows a part of their pledged jewelery to be returned by paying an equal amount.

Zero Charges on Partial and Full Prepayment: Apart from competitive interest rates, Bajaj Finserv also offers the borrower an option to pay a part or the entire loan amount at no extra cost.

Accurate Gold Valuation & High Loan Amount Per Gram: Bajaj Finserv uses industry-grade carat meter, which ensures high loan amount per gram of gold.

Simple Eligibility Criteria: To avail a Gold Loan from Bajaj Finserv, one has to meet the following basic eligibility criteria:

The age of the borrower should be between 21 to 70 years

The borrower should be a self-employed professional, salaried, trader, businessman or farmer and should have 22 karat gold jewellery.

Easy Application Process: Gold loan can be applied for both online and offline.

Online – The borrower can visit the website of Bajaj Finserv and fill up the simple online form. Once done, a representative of the company will call the borrower to guide him on the next steps.

Offline – Bajaj Finserv has over 300 branches across India, with new branches being opened every month. The borrower can visit the nearest branch of his/her city to apply for the loan.

Minimum Documents: If the borrower fulfills the basic eligibility criteria, he/she will be asked to submit any documents as proof of identity and residential address. These are Aadhar Card, Passport, Driving License, Voter ID, NREGA Card

Flexible repayment options: Borrowers can choose from convenient tenure options to manage their loan repayment. One can pay regular EMIs or choose to pay interest periodically – monthly, bi-monthly, quarterly, half-yearly or even yearly. If one is looking to take a loan, consider a secured gold loan from Bajaj Finserv. With attractive interest rates of 9.50% p.a. and loan amounts ranging from Rs. 5,000 to Rs. 2 crore, can easily get money.