With Onam around the corner, many people are gearing up for celebrations and planning how to make the most of the festive season. Amid the excitement of buying gifts, preparing special meals, and decorating homes, managing finances can sometimes prove to be a very cumbersome task. For those looking to ease their financial burdens during this vibrant time, a Gold Loan is a practical and efficient solution.
Bajaj Finserv Gold Loan
Bajaj Finserv Gold Loan offers a practical way to ease financial stress. With loans ranging from ₹5,000 to ₹2 crore, Bajaj Finance provides multiple repayment options, free insurance for pledged gold, and more, ensuring that borrowers can focus on enjoying the celebrations. This has made gold loans an increasingly popular choice for managing finances efficiently during festive times.
Understanding gold loans
A gold loan is a secured loan where individuals use their gold jewellery as collateral to borrow money for their unplanned or unplanned needs. The lender assesses the value of the pledged gold based on its weight and purity and offers a loan amount, typically a percentage of the golds market value. Borrowers repay the loan with interest over a set period, and once the loan is fully repaid, the gold is returned. Gold loans offer quick access to funds with minimal documentation and are a popular option for meeting urgent financial needs.
Bajaj Finance makes the processes simpler and quicker. It allows individuals to use their 18-22 karat gold jewellery to secure quick funds at competitive gold loan rate. Instead of dealing with complex financial arrangements, borrowers can easily access money by meeting basic requirements. Applicants aged 21 to 70 years need to provide a simple KYC document, such as an Aadhaar Card, Voter ID, passport, driving licence, NREGA job card, or letter from the NPR. With multiple repayment options, borrowers can choose to repay their interests in monthly, bi-monthly, quarterly, half-yearly, or annual instalments. Additional benefits include free insurance for pledged gold, easy part-release facility, and no charges for prepayment or foreclosure.
6 reasons to choose Bajaj Finserv Gold Loan
There are multiple lenders in the market that one can choose from. However, here are 6 reasons that make Bajaj Finance a preferable choice for many borrowers:
Loan processing under 15 minutes: Here the gold loans are processed quickly, allowing borrowers to get the funds they need without delays. This is particularly helpful when funding immediate expenses.
Minimal documentation: Borrowers can secure a substantial loan amount by submitting just their KYC documents.
Handsome loan amount: Borrowers can get loans right from Rs. 5,000 to Rs. 2 crores based on their gold value and liquidity requirements.
Convenient repayment options: With multiple repayment plans, borrowers can choose a schedule that suits their financial situation, making it easier to manage repayments.
Zero part-prepayment fee: For those who manage to secure funds to clear the loan before time, no part-payment fee is levied. This feature can help borrowers save on unnecessary administrative fees.
Complimentary insurance on gold assets: Pledging gold is insured for free when opting for a loan with Bajaj Finance.
Steps to apply for a Bajaj Finserv Gold Loan
Applying for a gold loan with Bajaj Finserv is fairly simple. Here’s a step-by-step guide:
1. Visit the Bajaj Finserv Gold Loan website and click on ‘Apply’ to access the application form
2. Enter the 10-digit mobile number and select ‘Get OTP’
3. Enter the OTP to verify identity
4. Choose the state and city to locate the nearest Bajaj Finance branch
5. Provide the full name and date of birth as per the PAN
6. Schedule an appointment at the Bajaj Finance branch
After completing these steps, a Bajaj Finance representative will call to confirm the appointment and further guide the borrower through the next steps.
Conclusion
Gold Loans offer a practical solution for managing financial needs swiftly and efficiently. By leveraging the value of gold, borrowers can enjoy the festive season without any financial strain. For those considering a gold loan, considering the Bajaj Finserv Gold Loan is a smart move for navigating expenses with ease.
About Bajaj Finance Limited
Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 80.41 million customers. Bajaj Finance has a credit rating of AAA/Stable for its Fixed Deposit program from CRISIL and ICRA, AAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA, and A1+ for short-term borrowing from CRISIL, India Ratings and ICRA. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings.
To know more, visit www.bajajfinserv.in.