Just when you thought online loans were only for the big banks, Bajaj Finserv has upended the status quo by launching its own online gold loan platform. This new service offers customers a quick and easy way to access money against their gold jewellery without having to go through the hassle of visiting a physical bank branch.
Method to apply for a gold loan online from Bajaj Finserv
Bajaj Finserv provides online gold loan at the lowest interest rate. You can apply for an online gold loan by following the below steps:
- Visit the official website of Bajaj Finserv and log in to your account.
- Go to the ‘My Loans’ section and click on ‘Apply for Loan Against Gold’.
- Fill in the required details and submit the online application form.
- Once your application is approved, you will receive the loan amount in your account within 24 hours.
Fees and interest rates for a gold loan from Bajaj Finserv
Fees and interest rates for a gold loan from Bajaj Finserv are much lower than what is offered by other NBFCs and banks. For instance, Bajaj Finserv charges an interest rate of 10.75% for a loan amount of Rs. 30 lakhs, while banks such as HDFC Bank and ICICI Bank charge an interest rate of 11.25%.
Gold loans from Bajaj Finserv are also available at a lower interest rate for senior citizens. For instance, the company offers an interest rate of 10.50% for senior citizens, while banks such as HDFC Bank and ICICI Bank charge an interest rate of 11%.
There are several other benefits of availing of a gold loan from Bajaj Finserv. For instance, the company offers a flexible repayment tenure of up to 12 months, which helps borrowers repay the loan at their convenience. Furthermore, a loan against gold interest rate starts at just 12.99% p.a.
Additionally, no hidden charges or prepayment penalties are associated with this loan. Bajaj Finserv also charges no prepayment or foreclosure charges on gold loans, which further reduces the cost of borrowing.
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