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Bank of Baroda Gold Loan Highlights |
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| Interest Rates | 9.15% p.a. |
| Collateral | Security of minimum 18 carat gold ornaments /jewellery/specially minted gold coins sold by banks |
| Loan Tenure | 1 year to 3 years |
| Loan Amount | Up to Rs 50 lakhs |
| Gold Loan Repayment Facility | EMI, Bullet repayment, Overdraft |
| Processing Fee | NIL for up to Rs 3 lakhs |
| Pre-Closure/Pre-Payment Charges | NIL |
Last updated as of 26 August 2024
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Bank of Baroda Gold Loan Interest Rate
Bank of Baroda gold loan interest rate is 9.40% p.a. The bank does not consider the CIBIL scores while setting gold loan interest rates for its applicants.
| Particulars | Interest Rates (p.a.) |
| Demand Loan (LA180) | 9.15% |
| EMI (LA241) | 9.15% |
| Overdraft (LA043) | 9.15% |
Bank of Baroda Gold Loan Processing Fees & Other Charges
| Particulars | Charges |
| Processing Fees | NIL for loan amount of up to Rs 3 lakhs |
| Pre closure/Pre payment | NIL |
Other Features of Bank of Baroda Retail Gold Loan
Purpose
Bank of Baroda offers ‘Retail Gold Loan’ against the security of a minimum of 18-carat gold jewellery or ornaments. Applicants can use this loan for any personal purposes such as –car purchase, marriage, education, or other expenses except speculation.
Loan amount
Applicants can avail Bank of Baroda gold loans for up to Rs 50 lakhs
Tenure
Bank of Baroda Gold Loans are offered for tenures 1 year to 3 years for EMI repayment scheme.
Margin
The gold loan per gram has 25% margin
Repayment Facility
Applicants can repay their interest on gold loans through the EMI scheme option, i.e., on a monthly basis. The principal amount will be repaid through the bullet payment option at any time during the loan tenure. The overdraft facility and Demand Draft option are available.
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Bank of Baroda Gold Loan Eligibility Criteria
Bank of Baroda offers gold loans against gold jewellery/ornaments and specially minted gold coins sold by the banks (maximum up to 50 gm per applicant) to the resident Indian applicants.
Documents Required for Bank of Baroda Gold Loan Application
Stated below are the detailed list of documents required for availing Bank of Baroda Gold Loan:
- Proof of residence
- Passport size photographs
- Proof of signature and
- Proof of identity
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Bank of Baroda Gold Bank Loan EMI Calculator
Applicants planning to avail gold loan with an EMI repayment facility from Bank of Baroda can use our online Gold Loan EMI Calculator, to calculate their gold loan EMIs based on the chosen loan tenure and interest rate.