Gold has indisputably earned its place in every Indian household, not only for its cultural significance but also for its role as a financial lifeline. When the need for funds arises, a gold loan can be a quick and convenient solution. For borrowers, the gold loan journey becomes even easier with a gold loan calculator, which estimates the loan amount based on the value of their gold jewellery.
Bajaj Finserv Gold Loan
Why gold loans are ideal for raising emergency funds
Gold loans are perfect for individuals who need quick funds. Since one need not sell their beloved jewellery and gold assets, this makes for a perfect instant solution. Whether it’s for medical emergencies, business investments, or education, a gold loan can bridge the gap effortlessly.
What is a gold loan calculator
A gold loan calculator is a simple tool that helps borrowers estimate the loan amount they can get by pledging their gold jewellery. Based on the weight and purity of the gold, this calculator gives an estimate of the amount they can borrow. Many lenders, including Bajaj Finance, offer easy-to-use gold loan calculators online. This tool is crucial for anyone considering a gold loan, making it easier for borrowers to plan.
Using a gold loan calculator offers several benefits:
Quick estimates: Borrowers receive an instant estimate of the loan amount based on their gold’s value.
Better financial planning: The calculator assists in planning loan repayment by providing an estimate of interest payable and tenure options.
Convenience: The tool is available online 24/7, allowing borrowers to check their eligibility at any time.
How does a gold loan calculator work
The gold loan calculator takes into account several factors, including:
The total weight of the borrower’s gold jewellery, excluding stones or other metals.
Purity of gold
Current market rate
After entering these details, the gold loan calculator provides an estimated loan amount that the borrower can get. It may sound cumbersome, but Bajaj Finance’s gold loan calculator is particularly user-friendly, offering borrowers an instant result in just a few steps.
Now that an individual has estimated the loan amount choosing the right lender is the next important step. Bajaj Finance offers a gold loan product that not only provides quick disbursements but also comes with a host of other benefits.
Here’s why the Bajaj Finserv Gold Loan stands out:
Loan of up to Rs. 2 crores: Borrowers can avail of a gold loan starting from Rs. 5,000 up to Rs. 2 crores, depending on their needs. This flexibility ensures that both small and large financial needs are covered.
Easy application process: Borrowers can apply for a gold loan online through the Bajaj Finserv App, and a representative will assist them in completing the application process when they visit the nearest branch.
Part-release facility: Bajaj Finserv offers a part-release facility, allowing borrowers to repay a portion of their loan and retrieve part of their gold jewellery even before the end of the loan tenure. This is ideal for those who might want to recover some of their assets early.
Transparent evaluation: The lender uses the latest karat meters across all branches, ensuring a fair evaluation of the gold, so borrowers get the highest value for their jewellery.
Free insurance of gold: Bajaj Finserv provides free insurance for gold jewellery while it is in their custody, protecting borrowers from theft or misplacement.
Convenient repayment options: With multiple repayment options, borrowers can choose to pay interest monthly, bi-monthly, quarterly, half-yearly, or annually, depending on their financial situation.
Whether its for emergencies, business, or personal expenses, gold loans offer a seamless way to access funds. Bajaj Finserv Gold Loan, combined with its transparent evaluation, free insurance, and part-release facility, makes the borrowing experience hassle-free.
*Terms and conditions apply.
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.