When you apply for a gold loan online with Bajaj Finance, you start by entering your mobile number and submitting your details.
Understand how an online Bajaj Finance Gold Loan application works, what you need to prepare and how your gold value affects the final loan amount.
When you apply for a gold loan online with Bajaj Finance, you start by entering your mobile number and submitting your details. This gives you an in-principal eligibility letter, but your gold still needs to be checked in person before you get a final loan amount. Before you apply, however, it is useful to understand the value of your gold, applicable gold loan interest rates, LTV limits and repayment terms.
In summary
· Check gold loan rates before you apply, so you know what borrowing may cost you.
· Start your application online with your mobile number, an OTP, and your personal details.
· Keep your KYC document and eligible gold ready for verification and valuation.
· Your final loan amount depends on your gold's assessed value, the applicable LTV, and other eligibility checks.
Apply for a gold loan online and Bajaj Finance will confirm your gold loan amount only after checking your gold at a branch and reviewing your rate, fees, and repayment terms.
What should you understand before applying for a gold loan online?
An online gold loan application is only the first step. It does not replace the physical check of your gold.
With Bajaj Finance, you enter your 10-digit mobile number and verify it with a one-time password (OTP). You then add your personal details and pick your nearest gold loan branch. You can download an in-principal loan eligibility letter after this step.
Your final loan amount is set only after your eligible gold is checked for its purity, weight, and value, along with the applicable LTV and other eligibility rules. An online eligibility figure is not your confirmed loan amount.
What gold can you pledge?
For a Bajaj Finance Gold Loan, eligible gold jewellery and ornaments can generally be between 18K and 22K purity. Gold coins of up to 24K may also be accepted, subject to applicable terms.
The value considered for the loan is based on the intrinsic value of the gold. Stones, gems and other embellishments are excluded from the gold value.
How does your gold determine the loan amount?
The amount you can borrow depends largely on the assessed value of your eligible gold and the applicable LTV limit.
Bajaj Finance currently lists maximum LTV limits for consumption loans as:
· Up to Rs. 2.5 lakh: up to 85%
· More than Rs. 2.5 lakh to Rs. 5 lakh: up to 80%
· More than Rs. 5 lakh to Rs. 2 crore: up to 75%
The valuation methodology also matters. Bajaj Finance states that the lower of the previous day's closing price or the 30-day average closing price for the relevant purity, published by IBJA or a SEBI-regulated commodity exchange, is considered subject to applicable requirements.
What documents do you need to apply?
You need one officially valid Know Your Customer (KYC) document from the accepted list, which includes:
· Aadhaar card
· Voter ID card
· Passport
· Driving licence
· NREGA job card
· National Population Register letter
·
You also need a PAN card if your loan amount is Rs. 5 lakh or above.
The online application therefore helps you start the process, while the branch visit allows the lender to complete the physical gold assessment and other applicable requirements.
What should you know about gold loan interest rates and borrowing costs?
The gold loan rates are an important part of your borrowing decision because it affects the total amount you repay.
Bajaj Finance offers a gold loan interest rate starting from 9.50% p.a. Your interest cost can also vary depending on the loan amount, interest rate and tenure. Bajaj Finance offers repayment options where interest can be paid monthly, bi-monthly, quarterly, half-yearly or annually, subject to applicable terms.
For example, if you borrow Rs. 2 lakh at an illustrative interest rate of 11% p.a., simple interest for one month would be approximately Rs. 1,833. The actual amount payable depends on the applicable rate, repayment structure and other charges.
What are the steps to apply for a gold loan online?
You can complete a Bajaj Finance Gold Loan application online in a few steps:
1. Go to the Bajaj Finance Gold Loan page and select "Apply."
2. Enter your 10-digit mobile number and request an OTP.
3. Submit the OTP to verify your identity.
4. Fill in your personal details and select your nearest gold loan branch.
5. Download your in-principal loan eligibility letter once this step is complete.
6. A Bajaj Finance representative calls you to guide you through the next steps.
This online process only starts your gold loan application. Bajaj Finance still needs to check your gold in person before confirming your final loan amount.
What happens after you apply online?
After you complete your online application, you visit your selected branch with the gold you want to pledge. Bajaj Finance checks the gold in person for purity, weight, and value. The applicable LTV, eligibility rules, and loan terms are then applied before your final loan amount is set.
Once verification and valuation are complete and you accept the applicable terms, your loan can proceed to disbursal, often in a single branch visit.
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