Bajaj Finserv Revises Gold Lending Interest Rates, Offers 9.50% Loans

Bajaj Finance Limited, the lending and investment arm of the Bajaj Finserv Group, has announced a review of its interest rate on gold loans. The lender now offers secured gold loans starting at 9.50% per annum.

A borrower can access the loan amount they need by mortgaging gold jewelry that might be unused at home.

Since the gold jewelry serves as collateral, the interest rate on the loan is usually lower than an unsecured loan. This is one of the main reasons that make secured loans the preferred alternative to unsecured loans and credit cards.

Borrowers can apply for a Bajaj Finserv gold loan of up to Rs 2 crore by pledging gold jewelry.

Bajaj Finserv Gold Loan: Partial Release Facility

Borrowers can also take advantage of the partial release facility – which allows them to recover part of their pledged jewelry by repaying the equivalent amount. No charges on partial or full prepayment.

Apart from competitive interest rates, Bajaj Finserv also offers the borrower the option of repaying part or the entire loan amount at no additional cost.

Bajaj Finserv Gold Loan Criteria

The borrower must be between 21 and 70 years old

Borrower must be an independent professional, salaried worker, trader, businessman or farmer and must have 22k gold jewelry Easy application process

Bajaj Finserv Gold Lending: Online, Offline

On line: The borrower can visit the Bajaj Finserv website and fill the simple online form. Once done, a company representative will call the borrower to walk them through the next steps.

Offline: Bajaj Finserv has over 300 branches across India and new branches are opening every month. The borrower can go to the nearest branch in his city to apply for the loan.

{With PTI entries}