Bank of Baroda Gold Loan Key Features
|Bank of Baroda Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Bank of Baroda Gold Loan Interest Rate||7.25% per annum|
|Bank of Baroda Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,219|
|Bank of Baroda Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Bank of Baroda Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Bank of Baroda Gold Loan Repayment Tenure||3 Months to 24 Months|
|Bank of Baroda Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of Bank of Baroda Gold Loan:
- Fast processing: The Bank of Baroda Gold Loan approval and disbursement method is swift and quick. Usually, the loan passes in an hour.
- Low-interest rate: In contrast to other loans, the interest rate for gold loans is much smaller, since it is a secured loan.
- Minimum Paperwork: The process of documentation is simple and straightforward; it requires the minimum number of documents required by the Bank of Baroda to approve a gold loan.
- Transparent system: We do not add hidden fees to loans which are the bank’s preferences.
- Loan Sum: Rs. 15000 is the minimum amount of loan available to clients. Often, in remote areas, it may be less than Rs 10000.
- Jewellery Security: The care of your jewellery is the responsibility of us. The gold, therefore, is stored in fireproof vaults.
- Loan tenure: Gold loan tenure can vary from 3 months to 2 years. You may create a choice for tenure, depending on your convenience.
- Benefits for farmers: Some special incentives are offered by the Bank of Baroda for agricultural purposes. This implies that the bank offers a slightly lower interest rate to farmers on gold loans for agricultural use.
- No Debt Burden: We are aware that in such a case where the bank may only seize the ornaments owned by you, there will be times where a borrower is unable to pay the loan amount, the lender will not be in debt.
- No income limitations: there are no such limitations on the salaries or income of the lender; a gold loan can also be used at any time by someone of any income range.
How Much Gold Loan can I Get through Bank of Baroda Gold Loan:
Bank of Baroda Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Bank of Baroda Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Bank of Baroda Gold Loan Documents Required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Bank of Baroda Gold Loan Interest Rate, Fees, and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About Bank of Baroda Gold Loan:
If you are undergoing financial issues, solve them with the most appropriate Gold Loan option. Loans granted for gold are referred to as gold loans. With the lender as security, the borrower retains the gold jewel and receives cash. Get prompt approval and a hassle-free approach. At your disposal is a brief document. A loan which is covered is a gold loan. Therefore, this service can be easily used even by people with a low CIBIL rank.
However, while there are many types of financial banking and non-banking businesses that offer gold loan services, Bank of Baroda Gold Loans are the most considered. It is a few of the most reputed and trusted banks in India. These are a few of the most reputed and valued banks in India. Apart from this, it is famous because of its very good financial services. To apply to Bank of Baroda for a Gold Loan and take advantage of the best offers for your product.
- Bank of Baroda Gold Loan Interest Rate is 7.25% per annum
- Bank of Baroda Gold Loan Per Gram is ₹ 5,219
- Bank of Baroda Gold Loan Tenure: Up to 24 months
- Bank of Baroda Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Bank of Baroda Gold Loan:
Multiple Gold Loan product-related structures are provided by Bank of Baroda and are listed below:
- Loan Against Gold – For any reason, whether personal or technical or not, the Bank of Baroda provides gold loans at interest rates to meet the urgent need for funds. Then the gold loan is certainly a secured loan; the bank has no risk of granting the person the amount, so it is granted at a lower interest rate compared to different types of credit merchandise.
- Agriculture Loan Against Gold – The Bank of Baroda specifically offers farmers gold loans at a specific interest rate for agricultural functions compared to gold loans offered for other uses. Special benefits are offered to them, and the bank land documents for which the loan is taken out can be turned out.
Bank of Baroda Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Bank of Baroda Gold Loan EMI?
The gold loan from the Bank of Baroda is currently being repaid using the following three alternative methods:
- Standing Instruction (SI): If you are already a Bank of Baroda account holder, the shortest and most convenient method of payment is standing instruction. Your EMI number is automatically credited from the bank account of the Bank of Baroda shown at the end of the month.
- Electronic Clearing Service (ECS): Usually, if you have a non-Bank of Baroda record, this payment method is used, and you want to debit your EMIs from the account that you registered with us near the month-to-month decline.
- Post-Dated Checks (PDC): You should submit your post-dated EMI reports from a Non-Bank of Baroda financial statement at your nearest Bank of Baroda Loan Centre. There was a need to grant a new version of PDCs instantly. If you note that Post Dated Checks are progressing since they were, it would be good to collect non-ECS states.
Bank of Baroda Gold Loan Contact Number:
In order to get instant approval and support for your Bank of Baroda Branch Gold Loan, call 9878981144. You can easily get to know the most enticing Gold Loan deals out there from all Bank of Baroda branches worldwide in order to use the most productive deal unique to your needs.
Gold Ornaments Accepted by Bank of Baroda :
- Gold jewels For e.g., gold necklaces, gold bracelets, gold anklets, gold necklaces, and so on. All these ornaments were bought on a gold loan by the Bank of Baroda.
- Quality: The quality of gold must range in value from 18 carats to 22 carats. Any gold decoration that is 24 carats will not be used in applying for a gold loan.
Use of Bank of Baroda Gold Loan:
The funds raised through the use of the Bank of Baroda Gold Loan service can be used for multiple functions, such as:
- For other private investment financings, such as marriage, cycling, higher education rates, etc.
- For all of your marketing initiatives, such as getting materials, designing, promoting, etc., there are also loan services available.
- You also can benefit from a Gold Loan for agricultural concepts in addition. The bank has lower rates of interest on gold loans used for farming or related ventures.
Gold Loan Interest Rate of Major Banks
7.25% – 14.50%
|7.25% – 16.10%|
|Muthoot Finance Gold Loan||
7.25% – 24.00%
|7.25% – 17.00%|
|Manappuram Gold Loan||
7.25% – 26.00%
|7.25% – 15.99%|
|Bank of India Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|IIFL Gold Loan||
7.25% – 12.00%
|7.25% – 14.65%|
7.25% – 12.65%
|Allahabad Bank Gold Loan||
7.25% – 10.45%
|7.25% – 15.75%|
|PNB Gold Loan||
7.25% – 11.75%
|7.25% – 26%|
|SBI Gold Loan||
7.25% – 15.99%
|7.25% – 15.99%|
|UCO Bank Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|Syndicate Bank Gold Loan||
7.25% – 12.00%
FAQs About Bank of Baroda Gold Loan:
What is Bank of Baroda Gold Loan?
The Bank of Baroda Gold Loan is a form of a loan which you can only use for urgent financial help by holding your gold as collateral with the bank. Term Loan, Overdraft, and EMI interest rates, mainly loan based, are also included. The average Gold Loan disbursement time in India is only 45 minutes.
How can I get the Gold Loan from Bank of Baroda?
You can get a Bank of Baroda Gold Loan by visiting any of India’s gold loan approval branches; otherwise, you can apply online with LoanNow from the comfort of your home and get the best offers and deals. It is one of the few leading banks in India which offers gold loan facilities.
What is the Gold Loan Interest Rate in Bank of Baroda?
The gold loan rate in India is 7.25 per cent per annum. Typically, the interest rate depends on a variety of elements, including the size of the loan, the tenure of the loan, the gold’s purity, and the relationship with the bank.
How much Gold Loan can I get per gram in Bank of Baroda?
The gold loan that you receive from the Bank of Baroda per gramme depends on the purity of your gold. In order to get a gold loan, Bank of Baroda accepts 18-carat and 22-carat purity gold. You can use up to 5,219 per gramme on the Bank of Baroda Gold Loan.
How to check Gold Loan status in Bank of Baroda?
To check your Bank of Baroda Gold Loan status, you only need to go to the Bank of Baroda loan status tracker web page and fill in your data within the mentioned application. You can monitor your loan’s status directly from anywhere and keep it updated.
How to calculate Gold Loan Interest in Bank of Baroda?
You can measure interest on your Bank of Baroda Gold loan interest by using the LoanNows’ EMI Calculator, which gives you precise amounts based on the data you insert into the calculator.
How to Pay Bank of Baroda Gold Loan Interest Online?
You can pay Bank of Baroda Gold Loan interest directly online via internet banking on the official Bank of Baroda loan repayment website or else; you can also repay your Bank of Baroda Gold Loan via Paytm or any other common payment form.
What if I can’t pay the interest on Bank of Baroda Gold Loan for 3 months?
When you fail to pay the Bank of Baroda Gold Loan within three months, the bank will first notify you of your uncompleted dues. If the payment requests go unanswered, a formal legal notice about the repayment and termination of the loan is distributed. Defaulting on your gold loan leads to a drop in your credit score that causes the bank, along with the confiscation of your gold sale, to face legal proceedings.
How can I apply for EMI Moratorium on Bank of Baroda Gold Loan?
Currently, between 1 March and 31 August 2020, you can apply for a Bank of Baroda Gold Loan EMI moratorium, and you must do so by contacting the bank’s customer service department or visiting the nearest branch of Bank of Baroda.