Bajaj Finserv Gold Loan

Interest Rates

9.50% - 28%

Processing Fee

• 0.12% of the loan amount (Inclusive of applicable taxes)

• Subject to a minimum ₹99 (Inclusive of applicable taxes) & maximum of ₹600 (Inclusive of applicable taxes)

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount

Cash Handling Charges

₹50 (Inclusive of applicable taxes). Applicable for cash disbursement only

Penal Charge

₹8 per day on Outstanding Balance - Penal charge will be over and above the interest rate slab mentioned above which shall be applicable/chargeable in case of default in repayment of the Outstanding Dues post maturity.

Part Pre-payment Charges

NIL

Foreclosure Charges

Minimum 7 days interest

Scenario – Foreclosure charges are “0”, but in case the customer closes the loan within 7 days of booking, minimum 7 days interest is charged

Cash Deposit Charges

Customers will incur a cash deposition charge of ₹50 (Inclusive of applicable taxes) when making cash payments at our branch offices

PG Facility Charges

₹11 (Inclusive of applicable taxes) will be charged for utilising the payment gateway to make part or full payments towards the loan through digital properties

Convenience Fee

Convenience fee of ₹149 (Inclusive of applicable taxes) shall be levied for release of ornament/s out of multiple ornaments securing the Gold Loan

Auction Charges

• Charge for Physical Notice :

  ₹40 (Inclusive of applicable taxes) per Notice

• Recovery Charges :

  ₹500 (Inclusive of applicable taxes)

• Advertisement Fee :

  ₹200 (Inclusive of applicable taxes)

Tentative Event of Default for Auction Process

The occurrence of any (or a combination thereof) of the following indicative events or circumstances shall constitute an event of default.

1. The borrower fails to pay any EMI or the outstanding dues on or before the due date or commits a breach of any of the terms, covenants or conditions contained in the gold loan documents

2. If the required margin is not maintained

3. If the gold jewelry deposited is found to be fake, defective, stolen, spurious or of inferior quality

4. If the borrower commits an act of insolvency or if the borrower is adjudged or declared insolvent or bankrupt or if a liquidator, receiver, or official assignee is appointed in respect of any property or estate of the borrower

5. The lender, for any regulatory or other reasons, is unable or unwilling to continue the loan

6. The borrower defaults in payment of any other loan with the lender or any other creditors

7. If any representations or statements or particulars provided in the application form and under the loan documents are found to be false, misleading, or incorrect

8. There exist any circumstances that jeopardize the lender's interest in the lender's opinion.

Auction Process

The gold auction process incorporates the auction of the gold jewelry pledged by the Borrower in the event of default by the Borrower(s), as enumerated under “Events of Default” as mentioned above. In the event of default, Bajaj Finance Limited may initiate the auction process. The auction process involves the following steps:

1. Intimation notices to the borrower

2. Default notices to the borrower

3. Auction intimation notice to the borrower

4. Advertisement for conducting auction

5. Guidelines to conduct auction

6. Documentation of auction event

7. Delivery of gold jewelry

8. Loan adjustment

9. Post auction communication to the borrower