Latest news with #GoldLoan
The Hindu
18-07-2025
- Business
- The Hindu
L&T Finance Q1 net profit rises 2% to ₹701 crore
L&T Finance Ltd. for the first quarter ended June 30, 2025 reported consolidated net profit of ₹701 crore as compared with ₹686 crore in the year ago period, up 2%. The consolidated book size at ₹1,02,314 crore grew 15% YoY. Net Interest Margin and Fees grew 10.22% as compared with 11.08% in the year ago period. Sudipta Roy, Managing Director & CEO, LTF said, 'In a challenging quarter, our company remained focused on outcomes and achieved a resilient performance while showcasing our ability to manage market headwinds.' 'This performance is on the back of our commitment to sourcing creditworthy customers backed by technology and robust credit guardrails, while keeping a strong focus on collection efficiency across businesses,' he stated. 'Our impetus remains on risk calibrated business growth with a sharp focus on a strong asset quality, laying the foundation for a sustainable and predictable growth going forward,' he said. 'In the quarter, we achieved the highest-ever consolidated book of over ₹1 lakh crore milestone and PUBLIC added a secured high yield product to our loan Gold Loan portfolio,' he said. 'Our AI-driven next-gen digital credit engine, 'Project Cyclops' is starting to yield early dividends in our Two-wheeler finance business, and during the quarter, 'Project Cyclops' was scaled up in Farm business and launched in the SME finance business,' he added.
The Wire
18-07-2025
- Business
- The Wire
Explore How Bajaj Finserv Gold Loan Works and Enjoy Assured Cashback Till 31st July During the Gold Loan Utsav
Pune (Maharashtra) [India], July 18: In today's fast-paced world, meeting financial needs—planned or unexpected—requires quick, simple solutions. One such trusted and growing option in India is the gold loan. Whether it is funding a child's education, covering a medical emergency, or managing unplanned home repairs, a gold loan offers a smart way to unlock the value of gold jewellery without selling it. This July, Bajaj Finance has launched the Gold Loan Utsav to make the borrowing journey more rewarding. As part of this special campaign, individuals can enjoy assured cashback till 31st July 2025 and avail funds ranging from Rs. 5,000 to Rs. 2 crore against 18-22 karat gold jewellery to meet planned or unplanned expenses. They also benefit from easy gold loan eligibility and competitive gold loan interest rates, along with access to an online gold loan calculator that makes financial planning easier. What is a gold loan? A gold loan is a secured loan where borrowers pledge their gold jewellery as collateral to receive funds. The loan amount is based on the weight and purity of the gold. This makes it one of the fastest and simplest ways to raise money, especially in emergencies. The gold remains safe in the lender's custody and is returned once the loan is repaid. For those asking, 'What is a gold loan?'—it is essentially a short-term loan given against gold ornaments, making it ideal for anyone in need of quick liquidity. The Bajaj Finserv Gold Loan stands out by offering competitive interest rates, minimal documentation, and quick disbursal. Why gold loans are gaining popularity There are times when one may need urgent funds—whether for medical treatment, education fees, or unexpected home expenses. Instead of dipping into their savings or selling cherished valuables, a gold loan offers a smart and secure option. By simply pledging their gold, individuals can get quick access to money with minimal paperwork. Since the loan is backed by gold jewellery, the process is fast, straightforward, and easy to qualify for, making it a practical choice for many. Understanding gold loan eligibility One of the key benefits of a gold loan is how simple it is to qualify. To meet the basic eligibility criteria, one only needs to be an Indian citizen aged between 21 and 70 years. The process is quick and requires very little paperwork. As part of the required gold loan documents, borrowers just need to submit any one valid ID or address proof from the accepted list. This minimal documentation makes applying for a gold loan easy and stress-free: • Aadhaar Card • Voter ID • Passport • Driving licence • NREGA job card • Letter from the National Population Registration PAN card is not mandatory. However, the applicant applies for a gold loan of Rs. 5 lakh or above, they will be asked to submit their PAN card as well. At Bajaj Finance, individuals can avail of gold loans starting from ₹5,000 and going up to ₹2 crore, based on the value of their pledged gold. During the Gold Loan Utsav, the process is even more seamless, wherein the customers can walk into a branch or apply online, where their gold is securely evaluated in their presence. What makes Bajaj Finserv Gold Loan a wise financial option? The Gold Loan Utsav is a specially curated experience that makes availing a gold loan easier, faster, and more convenient. Here is what makes it truly beneficial: • Part-release facility: Repay a portion of the loan and take back the equivalent amount of gold jewellery before the loan ends. • Zero prepayment and foreclosure charges: Make part or full repayments at any time without any extra fees. • Transparent gold evaluation: The gold is assessed using precise tools to ensure fair valuation at every branch. • Free jewellery insurance: The pledged gold remains insured against theft or loss while in their custody. • Multiple repayment plans: Choose to pay interest monthly, bi-monthly, quarterly, half-yearly, or annually. The principal is payable at the end. • Simple online application: Start the application online and complete it at the branch with expert help. • Loan renewal option: Renew the gold loan at the end of the tenure, based on revaluation and current LTV guidelines. • Top-up facility: Get a top-up on the ongoing loan, subject to eligibility, before the current loan matures. Plan better, borrow smarter In times of financial need, gold loans offer a responsible and secure option. And during the Gold Loan Utsav, the benefits only multiply. By checking their gold loan eligibility and using tools like the gold loan calculator, borrowers can borrow with clarity and confidence. Gold that lies idle in their locker can now help them achieve their short-term goals. With the right guidance and reliable service from Bajaj Finance, managing money through a gold loan becomes easy, smart, and rewarding. Apply for a gold loan today! T&C 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 80.41 million customers. Bajaj Finance has a credit rating of AAA/Stable for its Fixed Deposit program from CRISIL and ICRA, AAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA, and A1 for short-term borrowing from CRISIL, India Ratings and ICRA. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings. To know more, visit (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.).
The Hindu
27-06-2025
- Business
- The Hindu
Understanding How Bajaj Finserv Gold Loan Differs from Other Secured Loans
Gold has always been more than just jewellery—it is also a valuable asset. When you need funds urgently, using that gold smartly can help. A gold loan lets you unlock its value without parting with it. With Bajaj Finance, you get a fast, secure, and hassle-free way to get money by pledging your gold, along with multiple repayment options and competitive interest rates. Unlike other secured loans that require more paperwork and longer processing times, a gold loan gives you access to funds often within the same day of application. It is ideal when you need money urgently for personal needs like medical expenses, education fees, or family events. What is a gold loan? Understanding what is a gold loan is very important to make the best use of your existing assets. A gold loan is a type of loan where you give your gold jewellery as security. In return, you receive money based on the weight and purity of the gold. The best part is that you do not have to sell your jewellery. You simply keep it safe with Bajaj Finance during the loan period. Once you repay the full amount, your gold is returned to you in its original condition. With Bajaj Finserv Gold Loan, you can get funds starting from Rs.5,000 to Rs. 2 crore at competitive interest rates and convenient repayment tenures. Easy process and simple requirements The entire process is very easy and quick. All you need is your 18-22 karat gold jewellery and any one of the basic KYC documents for verification. Having a high credit score or complex income statements not mandatory for this loan, though for loans above Rs.5 lakh you may be asked to submit your PAN card details. This makes a gold loan suitable for many people—whether you are self-employed, a housewife, or even without a fixed income. Bajaj Finserv Gold Loan makes it accessible and stress-free. You can use our Gold Loan Calculator to assess your loan eligibility and determine suitable repayment options. Understanding the rate of interest against gold loan The rate of interest against gold loan is the amount you pay along with the borrowed money. Bajaj Finserv Gold Loan offers competitive interest rates that help keep your repayments low. You can choose a repayment option that suits your needs. You can choose to repay the interest on monthly, bi-monthly, quarterly, half-yearly or annual basis, with any pending interest or principal to be paid by the end of the tenure. The flexibility makes repayment easy and manageable. How gold loans differ from other secured loans Unlike other secured loans, such as home or car loans, gold loans do not involve a complex documentation process. There is no long waiting time or lengthy paperwork. Other secured loans are for specific needs, and usually last for years. A gold loan is quick to get and can be used for any personal reason. The repayment period is short, ranging from as low as 1 day to 12 months, giving you more control and less stress. Safe storage and fast approval with Bajaj Finance In other secured loans, your house or vehicle remains locked as collateral until the loan ends. But with a gold loan, your jewellery stays safe in a secure locker with Bajaj Finance. Their vaults are protected with CCTV and 24x7 surveillance. You can walk into any branch with your gold, get it valued, and receive the money mostly within the same day to your bank account. A smart and flexible choice So, if you are still asking what is gold loan, think of it as a fast, safe, and smart way to get funds without selling your jewellery. With Bajaj Finserv Gold Loan, you enjoy trust, safety, and full control over your repayment plan. Whenever you need money, your gold can help you—simply Download the Bajaj Finserv App or visit a Bajaj Finance branch and get started. 'This article is part of sponsored content programme.'
Fashion Value Chain
09-06-2025
- Business
- Fashion Value Chain
L&T Finance Ltd. Completes the Acquisition of Paul Merchants Finance's Gold Loan Business
L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, announced the completion of the transfer of the gold loan business of Paul Merchants Finance Private Ltd. (PMFL), a wholly owned subsidiary of Paul Merchants Ltd., to LTF. The acquisition includes PMFL's 130 branches, approximately 700 employees, and business transfer of its gold loan book size of Rs. 1,350 Crore to LTF. Visit our website avail of the L&T Finance Gold Loan Earlier this calendar year, LTF had announced the proposed acquisition of gold loan business undertaking of PMFL, marking its entry into gold loan business. The gold loan franchise will be an addition to LTF's portfolio of secured loan products. Speaking on this occasion, Mr. Sudipta Roy, Managing Director & CEO of LTF said, 'We are pleased to announce the completion of PMFL's gold loan business acquisition. In-line with our five-pillar strategy of enhancing customer acquisition, we continuously endeavour to expand our existing product offerings in a synergistic and contiguous manner. LTF has one of the largest rural franchises of approximately 1.6 crore rural customers and hence, this acquisition is a natural contiguous cross-sell product extension of our business. Our rural workforce of 20,000 feet-on-street will provide an immediate force multiplier, enabling active generation of gold loan leads within our existing customer base. This is a significant strength that sets us apart from the competition.' 'The gold loans business will fill a crucial gap in our portfolio, introducing a secured, high-yield product that will benefit both our rural and urban customers. This acquisition is not just about expanding our offerings; its about solidifying our position as a comprehensive financial partner for our customers across the country,' added Mr. Roy. LTFs entry into the gold loan business aligns seamlessly with the Company's philosophy of risk-calibrated inorganic growth, fulfilling considerations such as addressing a critical capability gap, ensuring an easily integrable business model and people profile, and being available at attractive valuations. Mr. Sat Paul Bansal, Chairman and Managing Director of PMFL said, 'We are proud to have built a strong, compliant, and customer centric gold loan business undertaking and we believe that LTF is the ideal partner to take this legacy forward. We are confident that the customers and employees transitioning to LTF will continue to thrive under its leadership and expansive ecosystem.' About L&T Finance Ltd (LTF) L&T Finance Ltd. (LTF) ( formerly known as L&T Finance Holdings Ltd., (LTFH) is a leading Non-Banking Financial Company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the Company has been rated 'AAA' – the highest credit rating for NBFCs – by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social, and Governance (ESG) rating providers for its sustainability performance. The Company has been certified as a Great Place To Work and has also won many prestigious awards for its flagship CSR project – 'Digital Sakhi'- which focuses on womens empowerment and digital and financial inclusion. Under Right to Win, being in the 'right businesses' has helped the Company become one of the leading financiers in key Retail products. The Company is focused on creating a top-class, digitally enabled, Retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product focus to customer focus and establish a robust Retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company's strategic roadmap – Lakshya 2026. The Company has around 2.6 Crore customer database, which is being leveraged to cross-sell, up-sell, and identify new customers. Facebook: LnTFS Twitter: LnTFinance YouTube: Ltfinance LinkedIn: L&TFinance Instagram: Lntfinance
India Today
30-05-2025
- Business
- India Today
Stalin welcomes Centre's response to RBI gold loan row, urges state consultation
Tamil Nadu Chief Minister MK Stalin on Friday welcomed the Union government's response to the concerns he had raised over the Reserve Bank of India's (RBI) draft directions on gold loans and reiterated the need for prior consultation with states on policies affecting the poor.'Glad to note that @FinMinIndia has responded to the concerns raised by me in my letter to the Hon'ble Union Finance Minister regarding @RBI's draft guidelines on gold loans,' Stalin said in a post on social media platform X. advertisementHe further said, 'Protecting the interests of small borrowers, especially those seeking loans below Rs 2 lakh such as farmers and daily earners and ensuring timely and accessible credit has been my consistent demand.' 'While appreciating the positive consideration given to this issue, we emphasize that such policies having significant impact on poor should be arrived after due, prior consultation with States,' the Chief Minister said in the post. The response came after Stalin wrote to the Union government on May 28, voicing concern over the proposed RBI guidelines, which he said would impose undue restrictions on gold loans and hurt access to credit for poor and middle-class the letter, Stalin had emphasised the cultural and financial importance of gold among the people of Tamil Nadu, stating: 'Our people are simple, dignified, and resilient. Even when all they have is half a rupee, they save it carefully, adding to it bit by bit, until they can buy a single gold bead. Not for show. Not for luxury. But for emergencies—moments when there is no one else to turn to. This is not ornamental gold. It is their shield against life's uncertainties.'Criticising the RBI's draft regulations, he wrote, 'Today, the RBI has proposed needless restrictions on gold loans, making it harder for poor and middle-class families to access credit with self-respect. This is not merely a regulation. It is a blow to their dignity and survival.'Referring to the growing menace of predatory lending, Stalin added, 'At a time when many are already caught in the cruel grip of #LoanSharks and forced into #LoanApps during times of desperation, is it fair to push them further into those traps instead of protecting them? I respectfully urge Hon'ble @nsitharaman and the @RBI Governor to ease the rules on #GoldLoan. Let our people pledge their hard-earned gold with dignity.' IN THIS STORY#Tamil Nadu
