Know more about the eligibility criteria and documents required for a gold loan on Bajaj Markets
✓ No Limit on Loan Amounts ✓ Interest Rate Starting @0.74% p.m. ✓ Minimal Documentation
A gold loan is a one-stop solution for all your financial emergencies. Applying for a gold loan involves a straightforward process as it is a secured loan type. All you have to do is pledge the gold as security for getting a loan amount starting from ₹1500.
You can get these loans at attractive gold loan interest rates starting from 8.88% by submitting minimal documents.
However, before applying for a gold loan, you must review the lender's eligibility criteria.
Eligibility Criteria |
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Note that only 18 to 24 karat gold jewellery can be pledged for a gold loan.
Once you meet these essential eligibility criteria, you can submit the required documents for a gold loan after the lender approves.
The eligibility calculator helps you instantly calculate the funds you could borrow against the gold. This free online tool will help simplify the loan procedure. In addition, you can use the gold loan eligibility calculator to check the gold loan eligibility criteria.
Furthermore, you can check the amount you can borrow based on the following parameters:
Number of gold ornaments and jewellery
Their respective weights
Their purity in karats
Here are the documents required for a gold loan when applying on Bajaj Markets:
Identity Proof |
Any one of the following: Aadhaar card/PAN Card/Voter ID/Driving licence/Ration card/Passport copy |
Address Proof |
Any one of the following: Aadhaar card/Voter ID/Driving licence/Utility bill/Passport copy |
In addition, you can also check your monthly instalments beforehand by accessing the gold loan EMI calculator at Bajaj Markets. This helps you plan your finances better and choose the right product.
FAQs on Gold Loan Eligibility
Do I need to provide any income-proof documents for a gold loan?
There is no need to furnish income documents or salary proof to get a gold loan. All you need to provide is your identity and address proof.
How much gold loan can I get?
The loan amount from a gold loan starts from ₹1500 and can go up to crores, depending on factors such as the interest rate, weight, and purity of your gold. Typically, you can get a loan of up to 75% of your gold's value. This percentage may vary depending on the lender's policies and the gold's quality. Still, it is generally a good benchmark to consider while assessing the maximum loan amount you can receive.
What is the minimum weight for a gold loan?
The minimum weight for a gold loan may differ from one lender to another. Hence, it is best recommended that you confirm the same from your lender.
Is a PAN card mandatory for a gold loan?
Generally, a PAN card is mandatory for getting a gold loan. However, check with your lender before you apply for a loan.
Can we obtain a gold loan without a bill or invoice for the gold jewellery?
Most lenders offer you a gold loan even when you do not have the bill or receipt. The gold you are planning to pledge will be assessed for value by the lender.
How can I repay my gold loan?
As a borrower, you can repay your gold loan based on your lender's policies. You can choose an EMI option and select a frequency that suits you. Alternatively, you may make partial payments. However, if you opt for bullet repayments, you must repay the principal and interest together at the end of the tenure.
Will I get the gold loan on studded jewellery as well?
Yes, you can get a gold loan against studded jewellery as well. Most lenders accept studded gold jewellery as collateral for gold loans. The loan amount, however, will depend on the purity of the gold and the quality of the stones. The lender will consider the current market value of gold while calculating the loan amount.
