Bank of Baroda Gold Loan Details, Apply, Interest Rate 2024: In this article, we will know in detail what is Bank of Baroda Gold Loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so you can complete this article till the end.
When you take a loan by pledging anything made out of your gold, it is a gold loan. You can take this loan for any work like marriage expenses, medical emergency, higher education, traveling etc.
Bank of Baroda Gold loan – BOB Gold Loan
Gold loan comes under the category of a secured loan. That is, to take this loan, you have to pledge your gold in the form of collateral or security. You can pledge gold jewelery or gold coins. Before giving loan, the bank checks the CIBIL score of the customer. You can apply for Bank of Baroda Gold Loan both online and offline.
If you are an existing customer of the bank and you fulfill all the conditions of BOB Gold Loan, then you can take advantage of the bank’s attractive gold loan interest rate. You can also meet your immediate needs by joining Bank of Baroda personal loan but the interest rate of personal loan can be higher than that of Gold Loan Bank of Baroda.
Bank of Baroda offers various types of gold loans according to the needs of the customers, whose interest rate and loan amount etc. can be of different types. The loan tenure of BOB Gold Loan is from 12 to 36 months. You can get a maximum loan of up to Rs 25 lakh under this loan.
Bank of Baroda Gold Loan Benefits and Features
- Any person can take this gold loan to meet any of his needs like marriage expenses, medical emergency, for traveling, for home renovation, for higher education etc.
- If your credit history is very good then you are an existing customer of the bank, then you can take advantage of the bank’s attractive Bank of Baroda gold loan rate.
- Under BOB Gold Loan, you can take a maximum loan of Rs 25 lakh.
- If you need money urgently then you can apply for this loan.
- You can mortgage your gold jewelery or coins.
BOB Gold Loan Types
The bank mainly offers two types of gold loans which are as follows:
- Retail Gold Loan
- Krishi Gold Loan
Retail Gold Loan:
Features of Retail Gold Loan are as follows:
- You can take advantage of this loan for any of your needs.
- This loan to women is provided at a competitive interest rate with the added benefit of concessional rates.
- Demand loan, over draft and EMI facility.
- You can get a maximum loan of Rs 25 lakh.
- The tenure of this loan ranges from 12 months to a maximum of 36 months.
- Zero processing fee for loans up to Rs.3 lakh and applicable charges +GST for loans above Rs.3 lakh.
- Pre closure / Pre payment fee is nil.
- To take advantage of this BOB Gold Loan, the applicant should be a permanent resident of India.
Agri Gold Loan:
- Cash credit and demand loan facility.
- You can take advantage of this gold loan for any work related to agriculture and agriculture.
- You can get a maximum loan of Rs 25 lakh under this loan.
- The maximum tenure of the loan is 12 months.
- Processing fee is Nil up to Rs.3 lakh and applicable fee is +GST for above Rs.3 lakh.
- Prepayment is nil.
Read Also: Muthoot Finance gold loan
Bank of Baroda Gold loan interest rate 2023
The interest rate of Gold Loan Bank of Baroda starts from 7.35% p.a. Bank of Baroda mainly offers two types of gold loans, which we will get to know in detail in this article. The interest rates for these different loans are different. The gold loan interest rate depends on several factors such as the applicant’s credit history, age, employment status, income, purity of gold, etc. The Bank of Baroda Gold Loan interest rates for different loans are as follows:
BOB Retail Gold Loan
| Demand Loan | BRLLR+SP+1.00% |
| Overdraft | BRLLR+SP+1.10% |
| EMI | BRLLR+SP+1.00% |
BOB Agri Gold Loan
| region | up to Rs 3 lakh | 3 lakh to 10 lakh rupees | Above 10 lakhs and up to Rs 25 lakhs |
|---|---|---|---|
| agriculture | 1 year MCLR | 1 year MCLR+SP | 1 year MCLR+S.P+0.25% |
| other priority | 1 year MCLR+SP | 1 year MCLR+S.P+0.25% | 1 year MCLR+S.P+0.50% |
Bank of Baroda Gold Loan Eligibility
- Applicant should be resident of India.
- You can take advantage of this loan for any of your purposes.
- You must have gold ornaments or jewelery to pledge.
- Only that gold will be accepted which is 18 carat or more.
- Other eligibility.
Documents Need for BOB Gold loan
Before applying for a gold loan, you should have all the documents so that whenever the bank asks for the documents, you can immediately show them all the documents. For more information about the document, you can contact your nearest bank branch. You must have the following documents with you to apply:
- Duly filled application form
- Proof of income if required.
- Address proof
- Identity proof
- KYC documents
- Passport size photo
- Mobile number
- Other Documents
Bank of Baroda Gold Loan Apply
If you fulfill all the conditions of this loan, then you can apply for it both online and offline. Apart from this, you can also apply for a loan by calling the customer care number of the bank. Follow the steps given below to apply:
Bank of Baroda Gold loan Apply online
- To apply online, you have to first visit the official website of the bank, bankofbaroda.in
- On the home page of the website, click on the option of Gold Loan in the option of Loans.
- After clicking, a list of all gold loans will appear in front of you.
- Click on the loan you wish to apply for.
- After clicking, all the information related to that loan will come in front of you.
- Click on Apply Now option to apply.
- The loan application form will open in front of you.
- Enter the requested information in it and click on submit.
- After submitting the form, the bank will contact you and the loan process will be issued further.
How To Apply Bank Of Baroda Gold Offline?
- To apply offline, you have to first go to your nearest Bank of Baroda branch.
- Go to the bank branch and contact the bank officer who will provide you complete information about the gold loan.
- Then it will assess your gold and will inform you about how much loan you are eligible for.
- Your documents will be verified.
- You have to fill the form and submit the documents.
- If your loan is approved then the loan amount is transferred to your bank account.
Bank of Baroda Gold Loan Calculator
Before applying for BOB Gold Loan, you should calculate the EMI of your loan so that you can get an idea of how much installment you will have to pay at the time of paying the loan. With the help of EMI, you can plan your loan as to how much loan you should apply for.
You can calculate the EMI of your loan with the help of Gold Loan Calculator by visiting the official website of the bank. You can find out the cheapest gold loan by comparing EMI of gold loan from various banks and financial institutions.
BOB Gold loan Customer Care Number
If you are facing any problem in applying for gold loan or if you want to get any other information regarding this loan, then you can get information by calling Bank of Baroda customer care number.
- Toll Free Number : 1800 258 44 55 / 1800 102 44 55
My Last Thought:
In this article, we have provided you complete information about Bank of Baroda BOB Gold Loan. Any person who is in urgent need of money can apply for this loan.
I hope friends, you will like the information given in this article. If you have found this article informative, then please share it as much as possible.
FAQs on Bank of Baroda Gold Loan:
What is the per gram gold loan rate in Bank of Baroda?
You can do this with the help of the Gold Loan Calculator given in this article.
What is the processing fee for BOB Gold Loan?
You can get complete information about it by visiting your nearest bank branch.
What is the gold loan interest rate in Bank of Baroda?
The interest rate starts from 7.35% p.a.
Does Bank of Baroda offer Gold Loan?
Yes, one can get loan up to Rs 25 lakh from Bank of Baroda.
How to apply for BOB Gold Loan?
Complete information about applying for gold loan is given in this article.