Gold has always been a trusted asset, offering both security and financial flexibility. When you need funds without selling your jewellery, a long-term gold loan is a smart option. At Bajaj Finance, we offer gold loans for up to 12 months, ensuring you get the best value for your gold.
The process is simple. You apply online or bring your gold jewellery to your nearest gold loan branch, and we assess its purity and weight to determine the loan amount. Once evaluated, we verify your KYC and disburse the funds in few hours, so you get the money when you need it most.
The loan comes with multiple repayment options, wherein you can choose to pay the interest monthly, bi-monthly, or quarterly, half-yearly or annually. The principal or interest, if due, is payable at the end of the tenure. With minimal processing charges and competitive interest rates, we make borrowing easy. Plus, your gold remains safe with us, giving you peace of mind while you manage your finances. To avail the loan,
check your loan eligibility today!
Features of long term gold loans
Long-term gold loans offer a reliable financing solution by allowing you to pledge gold jewellery as collateral for up to 12 months. These loans are designed for individuals seeking extended repayment flexibility while retaining ownership of their gold. Key features of the loan includes:
- Loan tenure: You can avail of a loan for up to 12 months, making it ideal for planned expenses.
- Higher loan-to-value (LTV) ratio: Get a loan of up to 75% of your gold’s value as per the guidelines set by the RBI.
- Minimal documentation: Any one of the basic KYC documents are required for verification.
- Quick disbursal: Funds starting from Rs. 5,000 to Rs. 2 crore are credited to your account within few hours.
- Multiple repayment options: Choose to pay your interest monthly, bi-monthly, quarterly, half-yearly, or on annual basis as per your convenience.Please note that the principal amount and pending interest, if any, will be due for payment at the time of loan maturity.
- Secure storage: Your gold is stored safely in our vaults under 24X7 surveillance. The pledged gold is covered by free insurance of gold.
Bajaj Finserv Gold Loan offers a seamless process with competitive interest rates and easy part-release facility, ensuring that you can meet your financial needs without selling your precious gold assets.
Eligibility criteria for a long term gold loan
To apply for a long-term gold loan, you must meet basic eligibility requirements to ensure a hassle-free application process.
- Age requirement: You must be between 21 to 70 years old.
- Gold purity: The pledged gold must be of 18-22 karats to qualify for the loan.
- Employment type: Any Indian citizen falling in the above age bracket can apply.
- Credit score: Unlike unsecured loans, a gold loan does not require a high CIBIL score.
Meeting these criteria ensures quick approval and disbursal. Bajaj Finserv Gold Loan offers a transparent loan process with minimal eligibility requirements, making it accessible for urgent financial needs.
Check your eligibility today and avail maximum value for your gold jewellery.
Documents required to apply for a long term gold loan
With us, applying for a gold loan is a hassle-free affair with easy paperwork and smooth processing. To apply for a long-term gold loan, you need to submit any of the following
gold loan documents :
- Aadhaar card
- Voter ID card
- Driving Licence
- Passport
- NREGA job card
- Letter from NPR
Though PAN card is not a mandatory document, you need to submit your PAN card for loans above Rs. 5 lakh.
Long term gold loan interest rates
The
gold loan interest rate in India on long-term gold loans vary based on multiple factors, including market conditions, loan amount, and tenure. Generally, these loans come with competitive rates, ensuring affordability.
Factors affecting interest rates:
- Gold purity: Higher purity fetches better loan terms.
- Loan amount: Higher loan amounts may come with better rates.
- LTV ratio: Higher LTV may result in slightly higher interest.
- Market conditions: Rates fluctuate based on gold prices.
Bajaj Finance offers competitive interest rates with transparent terms.
Benefits of choosing a long term gold loan
Long-term gold loans provide financial flexibility without selling your valuable jewellery. Gold loan offers benefits such as:
- Lower interest rates compared to personal loans.
- Extended repayment tenure of up to 12 months.
- No impact on credit score, making it accessible for all.
- Quick approval and disbursal to meet urgent needs.
- Multiple repayment options to pay interest on chosen terms.
A Bajaj Finserv Gold Loan helps you unlock the full potential of your gold while ensuring easy and affordable repayment.
Long term vs short term gold loans
The
online gold loan can be categorised into short-term (1-6 months) and long-term (6-12 months) loans based on their tenure.
Short-term gold loans:
- Lower interest due to the short tenure.
- Best for immediate cash needs.
Long-term gold loans:
- Ideal for planned expenses with a longer repayment cycle.
- Higher repayment flexibility.
A short-term gold loan works well if you need quick liquidity and can repay within a few months. However, if you require more time to manage repayments, a long-term gold loan provides added convenience.
Bajaj Finserv Gold Loan offers both options with competitive interest rates, easy repayment plans, and quick disbursal, ensuring a smooth borrowing experience. Choose the loan tenure that best fits your needs and leverage the value of your gold effortlessly.
How to apply for a long term gold loan
To apply for a gold loan, start by checking your eligibility using the online calculator. Next, choose a convenient method—either visit a branch or apply online. Submit the required KYC documents along with your gold for valuation. Once done, our representative will then assess the gold’s purity and weight to determine the loan amount. Once the evaluation is complete, your loan is approved, and the funds are disbursed. With a simple process and quick access to funds, getting a gold loan is hassle-free. To apply online, follow these simple steps:
- Click on “Apply” to initiate online application.
- Enter your 10-digit mobile number and click on “Get OTP.”
- Submit the OTP to verify your identity.
- Fill in your personal details and select the nearest gold loan branch.
- Download In-principle loan eligibility letter.
Bajaj Finance provides a seamless gold loan application process with quick approvals.
Repayment options for long term gold loans
Bajaj Finserv Gold Loan offers multiple repayment options, allowing you to choose a plan that best suits your financial needs. You can opt to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis, providing flexibility in managing your repayments. This ensures that you can spread out your interest payments without straining your finances.
At the end of the loan tenure, the principal amount, along with any remaining interest, must be paid in full to close the loan. This structure is especially beneficial for those looking to manage their cash flow efficiently while retaining their gold assets.
With such flexible
gold loan repayment option, you can plan your finances better, ensuring that your loan does not become a burden. Whether you prefer periodic interest payments or a lump sum settlement at maturity, Bajaj Finserv Gold Loan provides a convenient and accessible way to meet your financial requirements.
