Bajaj Finserv revises gold loan interest rates and offers loans at 9.50% per annum

The lender offers gold loans ranging from Rs. 5,000 up to Rs. 2 crores. New rates applicable from October Pune, Maharashtra, India (NewsView) 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 may 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. The loan can be used to meet any planned or unforeseen financial need – from medical emergencies to urgent home repairs or any other unforeseen event. Here are some of the main reasons why one should apply for a 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 amount equivalent . 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. Accurate gold valuation and high loan amount per gram Bajaj Finserv uses an industrial grade caratmeter, which guarantees a high loan amount per gram of gold.

Simple Eligibility Criteria To obtain a gold loan from Bajaj Finserv, one must meet the following basic eligibility criteria: 1. The borrower must be between 21 and 70 years old 2. The borrower must be an independent professional , employee, trader, businessman or farmer and must have 22 karat gold jewelry Easy Application Process One can apply for a gold loan online as well as offline.

1. Online – Borrower can visit 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.

2. 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.

Minimum Documentation If the borrower meets the basic eligibility criteria, they will be required to submit one of the following documents as proof of identity and residential address. 1. Aadhaar Card 2. Passport 3. Driver’s License 4. Voter’s Card 5. NREGA Card Flexible Repayment Option Borrowers can choose from convenient tenure options to manage their loan repayment. One can pay regular EMIs or choose to pay interest periodically – monthly, bi-monthly, quarterly, semi-annually or even annually. If one is looking to get a loan, consider a secured gold loan from Bajaj Finserv. With attractive interest rates of 9.50% per annum and loan amounts ranging from Rs. 5,000 to Rs. 2 crore, one can obtain funds easily. Visit a Bajaj Finserv Gold Loan branch or apply online today. About Bajaj Finance Limited Bajaj Finance Limited, the lending company of Bajaj Finserv Group, is one of the most diversified NBFCs in the Indian market, serving over 58 million customers across the country. Based in Pune, the Company’s product offerings include Sustainable Consumer Loans, Life Care Finance, Lifestyle Finance, Digital Product Finance, Personal Loans, Loans Against Property, small business loans, home loans, credit cards, two- and three-wheeler loans, commercial loans SME loans/loans, securities-based loans and rural finance, which includes gold loans and refinancing loans vehicles and term deposits. Bajaj Finance Limited is proud to hold the highest FAAA/Stable credit rating for any NBFC in the country today. It is also the only NBFC in India with the international “BBB” with a stable long-term outlook, by S&P Global Rating.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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