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Bajaj Finance Limited

Does One Require a High CIBIL Score to Secure Gold Loans with Bajaj Finance?

Jan 24, 2024 11:47 IST 
Pune, Maharashtra, India

With Bajaj Finserv Gold Loan, get quick access to funds with low interest rates, no CIBIL Score dependency, and additional benefits.


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In the constantly changing world of personal finance, people are always looking for practical and accessible ways to address their sudden and unexpected financial needs. Among the various financial options out there, gold loans have proven to be a flexible and reliable choice.


With Bajaj Finance, borrowers can avail of a gold loan starting from Rs. 5,000 up to Rs. 2 crore, with gold loan interest rates starting at just 9.50% p.a. The gold jewellery of an individual acts as security for a gold loan. Hence, these loans come with no credit score dependency. So, individuals who do not have a credit history or a high CIBIL Score can confidently unlock the financial potential of their gold without unnecessary hurdles.


Here are some of the benefits that make Bajaj Finserv Gold Loan a wise financing option:


Low interest rate
One big advantage of getting a gold loan is that the interest rates are usually lower compared to other loans. This is because when borrowers apply for a gold loan, they pledge their gold as a security, which reduces the risk for the lender. Bajaj Finserv Gold Loan interest rates start from just 9.50% per annum, making it a good choice for borrowing funds.


Convenient repayment options 
With Bajaj Finance, borrowers have multiple repayment options. They can select repayment terms that align with their financial situation. They can choose to pay interest on a monthly, bi-monthly, quarterly, half-yearly, or annual basis as per their convenience. However, the principal amount and pending interest, if any, needs to be settled at the time of loan maturity.


Easy documentation
Applying for loans can sometimes be stressful because of the complex documentation process. But with Bajaj Finserv Gold Loan, it is much easier. Borrowers only need to share their basic KYC documents like Aadhaar Card, voter ID card, passport, driving licence, NREGA job card, or a letter from the National Population Registration to complete the verification. 


Transparent evaluation 
Transparency is crucial when it comes to gold loans. Bajaj Finance uses top-of-the-line karat metres to ensure borrowers receive maximum value for their gold. The pledged gold jewellery is stored in secure vaults that are monitored around the clock, ensuring the utmost safety. Additionally, borrowers also get a free insurance of the pledged gold jewellery. Having their gold covered by insurance assures them that their jewellery is well protected.


Gold loan calculator
Bajaj Finserv Gold Loan calculator is a free online tool that helps borrowers know the loan amount that they can get based on their gold's value. It also helps estimate the interest rates that they will have to pay on their loan. Customers can enter the loan amount, tenure, and rate of interest to get an estimation of their repayment schedule. This makes it easy for customers to plan their budget accordingly.


These factors make Bajaj Finserv Gold Loan an ideal loan option for those who want to borrow money to manage all their needs. These factors can help borrowers to effectively leverage their gold jewellery, ensuring timely access to the essential funds they need.


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 72.98 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term rating of B by S&P Global ratings.


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