Bank Of India Gold Loan Key Features – Apply Now!
|Gold Loan Interest Rate||7.11% per annum|
|Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Gold Loan Repayment Tenure||3 Months to 24 Months|
|Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of Bank Of India Gold Loan:
- Fast Processing: The Bank Of India Gold Loan’s endorsement and disbursement period is quick and easy. The loan is usually completed in 60 minutes.
- Low-Interest Rate: As opposed to various credits, the borrowing costs of gold loans are much smaller since it is a guaranteed advance.
- Insignificant Documentation: The period of documentation is simple and direct; in order to endorse the Bank Of India gold advance, a minimum number of archives is required.
- Straightforward System: No concealed borrowed charges are applied. The bank wishes to stay absolutely transparent with you.
- Advance Amount: Rs. 15000 is the base measure of advance accessible to customers. Currently, in distant areas, it appears to be less than Rs 10000.
- Jewellery Security: We are responsible for the security of your gold. Accordingly, the gold is contained in flame-resistant vaults.
- Advance tenure: Gold credit residency can be from 3 months to 2 years. As indicated by your solace, you should decide on a residency decision.
- Advantages for Farmers: Bank Of India gives some unique proposals to agrarian purposes. That demonstrates that the bank offers farmers a marginally lower Gold advance loan cost for the use of agriculture.
- No Debt Burden: We know that situations will occur where a candidate can not pay the loan amount, the moneylender will not be under obligation in such a case as the bank will only hold on to the ornaments owned by you.
- No income limits: there are no such restrictions with respect to the payor pay of the moneylender; thus, anyone with any wage range may still benefit from a gold advance.
How Much Gold Loan can I Get through Bank Of India Gold Loan:
Bank Of India Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Bank Of India Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Bank Of India 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 India 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 India Gold Loan:
If you face financial difficulties, route your emergencies with the most sensible option, the Gold Loan. The credit given for gold is referred to as a gold loan. The borrower retains his gold adornments with the moneylender as a promise and takes the cash. Get prompt endorsement and a freecycle of issues. Accessible via easy documentation. A gold advance is a guaranteed advance. Consequently, the person who has a low CIBIL rating can also do without any of this administration’s stretch benefit.
Given the fact that there is a number of financial banking and non-banking organisations that provide you with gold advance assistance, Bank Of India Gold Loan is, in any case, the most thoughtful. It is one of the most reputed and trustworthy banks in India. In addition, it is renowned for its extremely large economic administrations. Therefore, apply for the Bank Of India Gold Loan and take advantage of the best proposals for your piece.
- Bank Of India Gold Loan Interest Rate is 7.11% per annum
- Bank Of India Gold Loan Per Gram is ₹ 5,032
- Bank Of India Gold Loan Tenure: Up to 24 months
- Bank Of India Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Bank Of India Gold Loan:
Bank Of India offers various Gold Loan product-related schemes that are described below:
- Loan Against Gold – Bank Of India grants Gold Loan at fascinating interest rates to meet the dire requirement of funds for any reason, whether personal or technical or not. The gold loan is definitely a secured loan then; the bank has no risk of granting the amount to the individual, so compared to different kinds of loan merchandise, it is issued at a lower rate of interest.
- Agriculture Loan Against Gold – Bank Of India provides farmers with gold loans specifically for agricultural functions at a specific interest rate compared to gold loans given for other multiple uses. They are given special deals and they should turn out evidence of the bank land that they are taking the loan for.
Bank Of India Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Bank Of India Gold Loan EMI?
Your Bank Of India gold loans are generally repaid inside the following three alternative approaches:
- Standing Instruction (SI): Standing Instruction, if you are currently an account holder with Bank Of India, is the best and most reliable payment method. Your EMI amount is automatically credited from the Bank Of India bank account you view at the end of the month to month amount.
- Electronic Clearing Service (ECS): Usually, this payment method is used if you have a non-Bank Of India record and may want your EMIs to be debited from the account you mention to us near the decline of the month-to-month method.
- Post-Dated Checks (PDC): At your nearest Bank Of India Loan Center, you may disclose your post-dated EMI reports from a non-Bank Of India financial statement. There was a need to quickly grant a different version of PDCs. If you remember that Post Dated Checks are advancing to collect non-ECS states because it was, it will be perfect.
Bank Of India Gold Loan Contact Number:
Call 9878981144 for your Bank Of India Gold Loan and gain prompt assistance and endorsement. You will certainly get acquainted with the best Gold Loan proposals out there from all the branches of the Bank of India in the nation to benefit from the most productive arrangement appropriate to your desires.
Gold Ornaments Accepted by Bank Of India :
- Gold jewels, such as Gold Bangles, Gold groups, Gold anklets, Gold accessories, and so on, are purchased for the value of a Gold Loan by Bank Of India.
- Quality: The gold must be in the range of 18 to 22 carats. When applying for a gold advance, any gold decoration that is 24 carats will not be included.
Use of Bank Of India Gold Loan:
For instance, the finances obtained by the Bank Of India Gold Loan administration could be used for a few capacities,
- To support specific projects such as marriage, climbing, a portion of cost instalments for higher education, and so on.
- Credit administration is continuously available for the entirety of your marketing prerequisites, such as receiving materials, producing, progressing, and so on.
- In addition to benefiting from a Gold Loan for farming ideas, you can also. The bank presents lower excitement costs for Gold Loans used for cultivation or related projects.
Gold Loan Interest Rate of Major Banks
7.11% – 14.50%
|7.11% – 16.10%|
|Muthoot Finance Gold Loan||
7.11% – 24.00%
|7.11% – 17.11%|
|Manappuram Gold Loan||
7.11% – 26.00%
|7.11% – 15.99%|
|Bank of India Gold Loan||
7.11% – 26.00%
|7.11% – 13.50%|
|IIFL Gold Loan||
7.11% – 12.00%
|7.11% – 14.65%|
7.11% – 12.65%
|Allahabad Bank Gold Loan||
7.11% – 10.45%
|7.11% – 15.75%|
|PNB Gold Loan||
7.11% – 11.75%
|7.11% – 26%|
|SBI Gold Loan||
7.11% – 15.99%
|7.11% – 15.99%|
|UCO Bank Gold Loan||
7.11% – 26.00%
|7.11% – 13.50%|
|Syndicate Bank Gold Loan||
7.11% – 12.00%
FAQs About Bank Of India Gold Loan:
What is Bank Of India Gold Loan?
Bank Of India Gold Loan is a credit form that by holding your gold as insurance with the bank, you can literally benefit from dire budgetary help. In addition, it connects the borrowing-dependent funding costs of Term Loan, Overdraft, and EMI. In India, the standard Gold Loan disbursement time is only 45 minutes.
How can I get the Gold Loan from Bank Of India?
By visiting any of the gold advances that favour branches in India, you can get a Bank Of India Gold Loan; otherwise, from the solace of your house, you can apply online with LendingWale and make the best arrangements and offers.
What is the Gold Loan Interest Rate in Bank Of India?
India’s gold loan rate is 7.11 per cent per annum. The cost of funding depends on a number of segments, specifically: advance sum, advance citizenship, gold virtue, and bank relationship.
How much Gold Loan can I get per gram in Bank Of India?
At Bank Of India, the per gramme Gold Loan that you will literally get depends on the virtue of your gold. To convey a Gold Loan, Bank Of India recognises gold of virtue between 18 carats to 22 carats. Up to 5,032 per gramme in Bank Of India Gold Loan, you will have the option to benefit.
How to check Gold Loan status in Bank Of India?
To assess your Bank Of India Gold Loan status, you should simply visit the website of the Bank Of India Advance Status Tracker and fill in the subtleties within the given application. You’ll have the opportunity to legitimately follow your advance status from anywhere and stay refreshed.
How to calculate Gold Loan Interest in Bank Of India?
Through LendingWale’s EMI Calculator, you can easily determine the interest on your Bank Of India Gold Loan interest, which gives you exact amounts based on the information you enter into the calculator.
How to Pay Bank Of India Gold Loan Interest Online?
By internet banking on the official Bank Of India loan repayment website or else, you can conveniently pay Bank Of India Gold Loan interest online; you can also repay your Bank Of India Gold Loan on Paytm using your preferred payment form.
What if I can’t pay the interest on Bank Of India Gold Loan for 3 months?
The bank will first remind you of your incomplete dues if you do not pay your Bank Of India Gold Loan within three months. A formal legal notice about the repayment and termination of the loan is distributed if the payment demands go unheard. Defaulting on your gold loan leads to a drop in your credit score and jointly causes you, along with the confiscation and auction of your gold, to face legal action by the bank.
How can I apply for EMI Moratorium on Bank Of India Gold Loan?
Presently, between 1 March and 31 August 2020, you can apply for EMI Moratorium on Bank Of India Gold Loan and have to do so by contacting Bank Customer Service or visiting the nearest branch of Bank Of India.