Gold Loan Interest Rate - Compare and Save Today

Prior to applying for any type of loan, it is crucial to check the interest rate charged on these. Gold Loans fall under the secured category and thus help you enjoy lower interest rates, compared to other unsecured loans. The lender decides the interest rate charged based on factors like the quantity, purity, and weight of the gold you look to submit as collateral. It also takes the current value of gold and the prevalent inflation rate into consideration. On Bajaj Markets, you can get a gold loan at interest rates starting as low as 8.88% p.a.

*Disclaimer: The rates are subject to change at the lender’s discretion.

Some things which may have a major effect on your gold loan interest rate are as follows:

Loan Amount

The higher the loan amount,  the more the risk for the lender. To mitigate this risk, the loan provider may charge a higher interest rate. Thus, it is essential to borrow only what you need to get as low an interest rate as possible.

Gold Rates

As the price of gold fluctuates, the interest rate and loan-to-value (LTV) ratio of your gold loan are affected. The interest rate increases when there is a surge in the gold rates and vice versa. So, monitor these rates carefully and strategically apply for the loan at a time when the rates are favourable.

Income & Employment

Having a stable job and income ensures the lender of your loan repayment ability. Having a minimum work experience of 3 to 5 years and a high income can improve your eligibility. This can help you get the loan at low interest rates and flexible repayment options.

Type of Interest Rate

Depending on whether you opt for a fixed or floating interest rate, the total interest charge of your loan may differ. In the case of a fixed rate, the interest charged is the same over the loan tenure which provides predictability and easier loan management. However, you can save on the interest costs with the floating rate, which is initially lower than a fixed interest rate. As the market rates fluctuate, the floating rate is revised. Sometimes, in case of inflation, recession, etc. the rate may increase drastically and surpass the fixed rate. So, it is important to constantly monitor the rates and market trends when choosing a floating rate.

Multiple Lenders, One Platform 

Bajaj Markets partners with 5+ leading lenders, allowing you to compare interest rates, LTV ratios, and loan terms in one place.

Quick & Hassle-free Application

Apply for a gold loan in just a few clicks via the Bajaj Markets website or app, with minimal documentation and instant approval.

Transparent Loan Terms

Get clear loan agreements with no hidden fees, and real-time loan tracking, ensuring a secure and straightforward borrowing experience.

Additional Perks

When you apply for the loan on Bajaj Markets, you may benefit from doorstep services from major gold loan providers in India. You may further be offered a part release facility which enables you to retrieve a portion of the gold submitted after a part of the loan has been repaid.

Before applying for a loan against gold online, ensure you meet the following eligibility requirements:

• Nationality: Indian citizen

• Age: 18 years or older

• Employment: Salaried professionals, self-employed individuals, entrepreneurs, farmers, or traders

• Gold Purity: At least 18 karats

Additionally, you may have to provide the following documents when applying for a gold loan online:

• Identity Proof (Any one)

  • Aadhaar card

  • Passport

  • Voter ID

  • Driving licence

• Address Proof (Any one)

  • Aadhaar card

  • Utility bill

  • Passport

  • Driving licence