Gold loan product details: Bajaj Finance offers secured gold loans from ₹5,000 up to ₹2 crore, typically disbursed on the same day.
Eligibility criteria: Indian citizens aged 21‑80; gold jewellery 18‑22 karat, gold coins up to 24 karat; minimal KYC (any one of Aadhaar, Voter ID, passport, driving licence, NREGA job card, or National Population Registration letter).
Interest rate: Starts at 9.50% per annum; rate varies with loan amount, tenure, and gold purity. Valuation uses the lower of the previous day’s closing price or the 30‑day average published by IBJA or a SEBI‑regulated commodity exchange.
Repayment & foreclosure: Flexible interest‑only payment schedules (monthly, bi‑monthly, quarterly, half‑yearly, annual); principal payable at maturity; foreclosure allowed without extra charge.
Application process: Online via website/app (mobile number, OTP, personal details, branch selection, eligibility letter) or at a branch; physical gold assessment at branch followed by same‑day credit.
Company background: Bajaj Finance Ltd., a subsidiary of Bajaj Finserv Ltd., is an RBI‑registered NBFC‑D and NBFC‑ICC with a diversified lending portfolio, 69.14 million customers, and top domestic credit ratings (AAA/Stable long‑term, A1+ short‑term, CRISIL/ICRA AAA/Stable for FD program).
