5 reasons why gold loans are the perfect solution for your instant financial needs

New Delhi : Unlock the power of your gold jewellery and manage your urgent needs instantly with a Bajaj Finance Gold Loan.

When it comes to safeguarding your savings, gold stands out as one of the safest options. For years, Indians have chosen to invest in small amounts of gold for various reasons, such as wedding gifts or as a backup plan. Not only does gold possess monetary value as a reliable asset, but it also holds sentimental significance.

So, if you find yourself in need of instant funds and prefer not to sell your assets or wait for loan approvals, a gold loan offers an ideal solution. With a gold loan, you can access immediate liquidity without the hassle of credit score checks or extensive documentation, all while ensuring the safety of your precious gold jewellery.

The are several advantages of opting for a gold loan. You can enjoy minimal documentation requirements, quick disbursals, multiple repayment options, and an easy application process. A gold loan also provides you with complete freedom to utilise the loan amount for any expense that you may have.

Here are a few reasons why gold loans can be the perfect solution to manage your immediate financial needs.

High loan amount 

One of the biggest advantages of gold loans is the high loan amount that you can receive. The loan amount is determined based on the value of your gold jewellery. With Bajaj Finance you can get up to 75% of the market value of your pledged gold as the loan amount. This means that you can access a substantial sum of money, giving you the financial support, you require to manage all your financial needs.

Competitive interest rates

Interest rates are important in any loan, and gold loans often have competitive rates compared to other unsecured loan options. Because your gold is used as collateral, the interest rates are lower. This makes gold loans attractive for people who want a cost-effective borrowing solution. Bajaj Finance offers the gold loan interest rate starting from just 9.50% p.a. 

Simple eligibility criteria

Enjoy the convenience of easy eligibility criteria when it comes to gold loans. Regardless of your credit score, as long as you are between 21 and 70 years of age and have the repayment capacity, you can avail of a gold loan. 

Multiple repayment options

Gold loans also offer you the flexibility to choose from the multiple repayment schedules. You can choose a repayment option that works best for your situation. With Bajaj Finance, you can choose the frequency that suits you best. Whether it is monthly, bi-monthly, quarterly, half-yearly, or annually, you have the freedom to repay at your own pace.

Easy application process 

When you apply for a gold loan, lenders assess its approval based on the value of the gold you pledge. Unlike other traditional loans, gold loans do not require you to provide income details or credit history. All you need to begin the process is to provide any one of the necessary Know Your Customer (KYC) documents, such as your Aadhaar Card, voter ID card, passport, or driving licence.

Bajaj Finance offers you two convenient options to apply for a gold loan: visit a nearby Gold Loan branch or apply online from the comfort of your own home. To apply online, you can follow these easy steps:

● Step 1: Visit the Gold Loan section of the website

● Step 2: Click on the online application form

● Step 3: Enter your first and last name as it appears on your PAN card

● Step 4: Provide your 10-digit mobile number and select your city

● Step 5: Enter the OTP sent to your registered mobile number and submit the application

● Step 6: Set up your appointment at the nearest gold loan branch office from the options displayed

Achieve your financial goals without parting with your cherished gold jewellery with a gold loan. Unlike selling your gold, which means losing it permanently, a gold loan allows you to retain your precious possessions while effectively addressing your financial needs. The best part? Once you repay the loan, your gold is returned to you, ensuring that your valued assets remain in your possession throughout the process. 

To apply for a gold loan today, simply visit the Bajaj Finance website.