Those looking to apply for a gold loan from the comfort of their homes can get started with Bajaj Markets, one of India’s leading digital financial marketplaces. Get a gold loan at interest rates starting from just 8.88% p.a. with a flexible tenure of up to 3 years.
Rising gold prices can spark an increase in gold loan amount
Usually, one can borrow up to 75% of the current market value of their gold. Individuals can get a higher loan amount, as gold prices have increased by approximately 15% since January 2024, a report by The Economic Times (ET) revealed.
The report further revealed that people are queuing up for gold loans amid rising gold prices. Bajaj Markets offers easy access to a range of gold loan options. One can choose the solution that best suits their needs.
Data from GoodReturns shows that the price of 24-karat gold in India on April 19, 2024, stood at Rs. 74,340 per 10 grams. The price increased by Rs. 540 as compared to April 18, 2024, when the price was Rs. 73,800.
This surge in rates can help individuals gain access to a higher loan-to-value (LTV) ratio and thus, borrow higher amounts. For instance, consider that the weight of the gold pledged is 10 grams and the LTV offered is 75%. With the rise in gold prices from Rs. 69,380 on April 1, 2024, to Rs. 74,340 on April 19, 2024, one can now borrow an additional amount of Rs. 3,562.50.
To unlock the potential of the rising value of gold, one can easily apply for a gold loan on Bajaj Markets. The process is seamless and comes with minimal documentation requirements. Furthermore, customers can consider applying for gold-related investment options like Sovereign Gold Bonds (SGBs) through the website or app.
About Bajaj Finserv Direct
Bajaj Finserv Direct, a subsidiary of Bajaj Finserv, is one of the fastest-growing fintech companies in India. It has two primary arms, Bajaj Markets, a financial marketplace, and Bajaj Technology Services, a techfin service provider.
Bajaj Markets is a marketplace that offers multiple financial products across all categories – Loans, Cards, Insurance, Investments, Payments, Pocket Insurance, and VAS. Bajaj Markets has partnered with trusted financial brands to offer “India ka Financial Supermarket”. A one-stop destination where its customers can explore a host of products that can help them achieve their financial life goals.
Having started its journey as a fintech, Bajaj Finserv Direct has also built a very strong business as a techfin. Through Bajaj Technology Services it offers a wide gamut of digital technology services which span Custom Applications, Enterprise Applications, Data & Analytics, Gen AI, Cloud Services and Digital Agency.
Visit the Bajaj Markets website or download the Bajaj Markets’ app from the Play Store or App Store to experience “India ka Financial Supermarket”.