Gold has long been a trusted asset in Indian households, not just for its cultural significance but also for its financial value. When faced with immediate financial needs, selling gold is not always the best option. Instead, a gold loan offers a smart way to leverage your gold while retaining ownership. Whether you need funds for a medical emergency, business expansion, education, or any other financial obligation, a gold loan provides a quick and hassle-free solution.
With the Bajaj Finserv Loan Fest running from 1st to 31st March 2025, you can avail of a , and across cities in India, with fast approval, minimal documentation, and a seamless online application process. If you are considering borrowing against your gold, understanding the key benefits of gold loans can help you make an informed decision.
1. Quick Loan Approval
One of the biggest advantages of a gold loan is its quick processing time. Unlike other types of loans that require extensive documentation and credit checks, a gold loan is backed by your gold jewellery, allowing lenders to approve it within hours. With Bajaj Finserv, you can get loan from Rs. 5,000 to Rs. 2 crore with approval in just 24 hours*, ensuring you receive the funds when you need them the most.
2. No Impact of Credit Score
If you are worried about your credit score affecting your loan eligibility, a gold loan is the ideal choice. Since the loan is secured against your gold, lenders do not place much emphasis on your credit history. This makes it an excellent financing option for individuals who have a low credit score or limited credit history but need immediate funds.
3. Multiple Repayment Options
Gold loans come with convenient repayment options that suit different financial situations. You can choose to pay only the interest on a monthly, bi-monthly, quarterly, half-yearly, or 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.
4. High Loan-to-Value (LTV) Ratio
The loan amount you can avail depends on the value of your gold. In India, lenders typically offer a high LTV ratio, allowing borrowers to get a substantial loan amount based on the current market value of their gold. Checking your beforehand can help you understand how much you can borrow against your gold assets. With Bajaj Finance, you can get up to 75% of your gold라이브 바카라 value as loan, as per the guidelines set by RBI.
5. Competitive Interest Rates
Compared to unsecured loans, gold loans usually come with lower interest rates since they are secured by gold. This makes them a more cost-effective borrowing option. During the Bajaj Finserv Loan Fest, you can enjoy attractive interest rates, ensuring that you get the best deal on your gold loan.
How to Apply for a Gold Loan?
Applying for a gold loan is simple and requires minimal paperwork. With Bajaj Finance, the process is quick and seamless:
Visit the Bajaj Finserv website or nearest branch.
Check your gold loan eligibility and fill out the application form.
Get your gold jewellery for evaluation.
Receive a loan offer and approval within 24 hours.
Get the loan amount credited directly to your bank account.
Conclusion
A gold loan is one of the most convenient and accessible financing options for meeting urgent monetary needs. With benefits such as quick approval, flexible repayment options, and competitive interest rates, it is an excellent choice for individuals looking for hassle-free financial solutions. Take advantage of the Bajaj Finserv Loan Fest this March and get a gold loan in Kolkata with ease. Whether you need funds for an emergency or planned expenses, a gold loan ensures financial security without selling your valuable assets.