Bank of India Gold Loan Interest Rate, Details, Apply 2024

Bank of India Gold Loan Interest Rate, Details, Apply 2024: In this article, we will know in detail what is Bank of India 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.

You can take a gold loan to meet any of your needs like marriage expenses, medical emergency, education, travel, home renovation etc.

Bank of India Gold Loan 

Gold loan comes under the category of a secured loan. That is, to take this loan, you have to give collateral or security. To avail a gold loan, you need to pledge your gold as collateral or security. When you take a loan by pledging your gold, it is a gold loan. The bank checks the applicant’s CIBIL score before giving BOI Gold Loan.

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 gold loan interest rate. You can also meet your expenses with Bank of India personal loan but the interest rate of personal loan can be higher than that of gold loan. You can apply for Bank of India Gold Loan both online and offline.

Under Bank of India Gold Loan, you can get a maximum loan amount up to Rs 50 lakh. There is no minimum limit. You can mortgage gold jewellery, ornaments or coins. The interest rate of this loan starts from 7.25% per annum. The loan tenure of this loan is from 12 to 36 months

Bank of India Gold Loan Benefits and Features

• One can take a gold loan for any of his/her needs like marriage expenses, medical emergency, for travel, home renovation, higher education etc.
• Under BOI Gold Loan, you can get a maximum loan of Rs 50 lakh. There is no minimum loan limit.
• The interest rate of this loan starts from 7.25% per annum.
• You can apply for Bank of India Gold Loan both online and offline.
• Margin: For agricultural purposes: 15% to 35%; For non-agricultural purposes: 25% to 35%; Depending on the purity of the gold and the tenure of the loan.
• There is zero processing fee for loans up to Rs.1 lakh.
• For more information about this gold loan, you can contact Bank of India Gold Loan customer care number or by visiting your nearest bank branch.

BOI Gold Loan Eligibility

• Any person who is in urgent need of money can apply for this loan.
• You must have gold to pledge.
• You can mortgage your jewellery, jewelry or gold coins.
• Gold should be of 18 carat or more.
• Agriculture / MSME / OPS / Retail / Consumption can apply for this loan.

Documents Need for Bank of India Gold Loan 

Before applying for a gold loan, you must have all the documents with you so that whenever the bank asks you for documents, you can immediately show them all the documents. For more information about the document, you can contact your nearest bank branch. The documents for applying gold loan are as follows:

• KYC document
• Identity proof
• Proof of address
• Income proof if required.
• Passport size photo
• Aadhar card
• Pan card
• Signature proof
• Other Documents

Bank of India Gold loan interest rate 2023

Bank of India Gold Loan interest rate starts from 7.25% p.a. The interest rate of this gold loan may vary depending on the customer’s CIBIL score, age, loan amount, employment status, etc. If your credit score is very good and you fulfill all the conditions of the bank, then you can get the cheapest gold loan.

Before applying for a gold loan from any bank or financial institution, it is important for you to have a proper understanding of the interest rate of that loan. You can find out the cheapest gold loan by comparing gold loan interest rates of different banks.

BOI Gold Loan Calculator

Before applying for a gold loan, you should calculate the EMI of your loan so that you can get an idea of ​​how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Gold Loan Calculator by visiting the official website of the bank.

Gold loan EMI depends on the loan amount, interest rate, loan tenure, processing fee, etc. You can find out the cheapest gold loan by comparing different gold loan EMIs.

Bank of India Gold Loan Apply

If you fulfill all the conditions of this loan, then you can apply for it both online and offline. You can also apply for the loan by calling the customer care number of the bank. To apply, follow the steps given below:

Bank of India Gold Loan Apply online

• First of all you have to visit the official website of Bank of India bankofindia.co.in.
• After visiting the website, in the option of Loans, you have to click on the option of Gold Loan.
• After clicking, all the information related to gold loan will come in front of you.

• You have to read this information correctly.
• To apply, click on the option of Apply Now.
• 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 officials will contact you and the loan process will be issued further.

Apply offline

• For this you have to first go to your nearest Bank of India branch.
• Contact the bank employee who will provide you complete information about gold loan.
• Will assess your gold and inform you about how much loan you are eligible for.
• Then you have to fill the form and submit your documents to Bank of India.
• If your loan is approved then the loan amount will be transferred to your bank account.

Bank of India Gold Loan Customer Care Number

If you are facing any kind of problem in applying for the loan or you want to get more information about this gold loan, then you can get information by calling Bank of India Gold Loan customer care number.

• Customer Care : 1800 220 229 / 1800 103 1906 / 022-4091 9191

My Last Thought:

In this article, we have provided you complete information about Bank of India Gold Loan. Any person who is in urgent need of money can apply for this loan.

I hope that you guys liked the information given in this article. If you have found this article informative, then please share it as much as possible.

FAQs on BOI Gold Loan: