Gold loans are among the fastest and easiest financial solutions during urgent cash needs. With Bajaj Finserv gold loan, borrowers can get quick access to funds by pledging gold ornaments or coins. This guide explains everything — from loan features to the step-by-step application process — using simple words and clear visuals.
What is a Bajaj Finserv Gold Loan?
A Bajaj Finserv gold loan is a secured loan offered against your gold jewellery. It is ideal for personal, business, or emergency needs. The loan amount depends on the gold’s weight and purity. As a borrower, you retain ownership of the gold, and it is returned once the loan is repaid in full.
Key Features of Bajaj Finserv Gold Loan
| Feature | Details |
|---|---|
| Loan Amount | ₹5,000 to ₹2 crore |
| Interest Rate | Starting from 9.50% p.a. |
| Repayment Tenure | Up to 12 months |
| Processing Time | Less than 30 minutes |
| Security | Gold ornaments (purity 18K to 24K) |
| Prepayment Charges | Nil (in most schemes) |
| Disbursement Mode | Instant — Cash / Bank transfer |
Bajaj Finserv Gold Loan vs Other Providers
| Lender | Rate Range | Fixed / Floating | CIBIL Impact | Women / Special Discounts | Products & Features |
|---|---|---|---|---|---|
| Bajaj Finserv | 9.50% – 24% p.a. (min 9.50%) | Floating | Not required; gold collateral reduces credit need | None specific | ₹5k–₹2 Cr; 75 % LTV; tenures 1 day–12 mo; free part‑prepay & foreclosure |
| ICICI Bank | 9.25% – 16.75% p.a. (avg ~12.3%) | Floating | Not based on CIBIL | None noted | ₹50k–₹2 Cr; 6–12 mo tenures; processing fees up to 2%; pre‑closure post-120 days |
| Axis Bank | 8.90% – 19.00% p.a., fixed @8.90% MCLR-linked | Fixed (1-yr MCLR) | Not based on CIBIL | None noted | ₹25k–₹40 L; 6–36 months; nominal processing, flexible repayment |
| HDFC Bank | 9.30% – 17.86% p.a. (avg ~11.9%) | Floating | Not based on CIBIL | None noted | 3–24 month tenures; EMI & bullet options |
| Bank of India | ~8.30% p.a. onwards | Fixed & Floating | None required | NIL reported | Up to ₹1 Cr; 12–24 mo; no prepayment charges |
✅ Key Insights
- Lowest Starting Rate:
- BOI leads at ~8.30% fixed/floating.
- Axis Bank offers competitive fixed-rate at 8.90% .
- Flexible Products & Amounts:
- Bajaj Finserv caters up to ₹2 crore with multi-tenure choices and no fees for part-prepayment or foreclosure.
- Banks typically offer lower amounts (up to ~₹40 L–₹1 Cr) with shorter durations.
- Interest Adjustments & Prerequisites:
- Floating rates fluctuate, while Axis Bank provides fixed, MCLR-linked rate.
- Gold loans don’t typically require credit checks or CIBIL since they are secured.
- No Women-Specific Discounts:
- None of the lenders publicly offer gender-based rate benefits, unlike some other loan categories.
🧭 Choosing the Right Lender
- Looking for the lowest interest?
- Go with Bank of India (~8.30%).
- Axis Bank is good if you prefer fixed-rate stability (8.90%).
- Need high loan amount & flexible terms?
- Choose Bajaj Finserv for up to ₹2 Cr, instant disbursal, and no foreclosure charges.
- Prefer bank-led trust & simple repayment?
- Opt for ICICI, HDFC, or Axis based on convenience and standard bank features.
Note: Interest rates depend on gold quality, market value, and location.
EMI Calculator
✅ Who Can Apply?
- Indian citizens aged 21 to 70 years
- Salaried, self-employed, homemakers, or farmers
- Must own gold ornaments (minimum 18 karat purity)
📋 Documents Required
- ID Proof: Aadhaar card / PAN card / Voter ID
- Address Proof: Utility bill / Aadhaar / Passport
- Passport-size photograph
🔄 Full Application Process: Step-by-Step
Here’s a simplified, visual-style breakdown of how to apply for a Bajaj Finserv gold loan:
Step 1: Visit the Nearest Branch
Walk into your nearest Bajaj Finserv Gold Loan branch with your gold ornaments and documents.
🔹 Tip: Carry original gold and valid ID/address proof.
Step 2: Gold Valuation
A trained executive will assess the purity and weight of your gold using certified machines.
🔹 Gold should be minimum 18K purity.
Step 3: Offer & Loan Plan Selection
Based on valuation, you’ll be offered:
- Maximum eligible loan amount
- Interest rate
- Repayment plan
🔹 You can choose from EMI, bullet, or interest-only repayment options.
Step 4: Document Verification & Approval
Your documents will be verified digitally or manually.
🔹 Takes less than 10–15 minutes in most branches.
Step 5: Loan Disbursement
Loan amount is credited instantly to your bank account or given in cash, as per RBI rules.
🔹 Maximum cash disbursal limit is ₹20,000.
Step 6: Secure Gold Storage
Your gold is stored safely in fireproof lockers, insured by Bajaj Finserv.
🔁 Repayment Options
| Repayment Method | Description |
|---|---|
| Bullet Repayment | Full principal + interest at end |
| EMI | Monthly installments (principal + interest) |
| Interest-only EMI | Pay monthly interest; principal later |
Choose what best fits your income and financial comfort.
🔐 Benefits of Choosing Bajaj Finserv
- Quick disbursal within 30 minutes
- Attractive interest rates
- No income proof needed
- Flexible repayment
- Free gold insurance & locker facility
- Transparent process with zero hidden charges
FAQs
A. You can borrow as little as ₹5,000 and up to ₹2 crore, depending on the quality and purity of the pledged gold.
A. Gold loan rates start at 9.50% p.a. and can go up to 24% p.a., based on factors like LTV, tenure, and repayment style.
A. Yes—your gold is stored in secure vaults with 24/7 CCTV, insurance, and motion detectors to ensure complete safety.
A. Yes—no charges apply for part or full prepayment. You only pay interest accrued until the date of repayment.
A. You can choose:
Interest-only EMIs (monthly, quarterly, half-yearly, annually)
EMI with principal and interest
Pay interest upfront and principal at end
A. Only basic KYC documents (Aadhaar, Voter ID, Passport, etc.) are needed. A jewellery bill is not necessary.
A. No foreclosure charges apply. However, if paid within the first 7 days, you must still pay 7 days’ interest.
A. Yes—you can renew your loan for another year or opt for a top-up based on remaining eligibility. Funds arrive within one business day.
A. Interest is calculated simply (principal × rate × tenure/365). You can use the online EMI calculator to estimate interest and gold-to-loan value.
A. Generally, no. Gold loans are secured, so KYC and gold value matter more. However, a high credit score helps in getting lower rates.
Final Thoughts
If you need quick cash and have idle gold jewellery, a Bajaj Finserv gold loan is one of the fastest and safest financial options. With minimal paperwork, fast approvals, and flexible repayment plans, it serves both emergency and planned needs efficiently.
Whether you’re a salaried employee, self-employed individual, or homemaker, this gold loan option can offer valuable support when needed most.