Bank of Maharashtra Gold Loan

Bank of Maharashtra Gold Loan Key Features – Apply Now!

Advantages of Bank of Maharashtra Gold Loan:

• Fast processing: The approval and disbursement phase of the Bank of Maharashtra Gold Loan is swift and transparent. Usually, in an hour, the loan passes.
• Low-interest rate: The interest rate for gold loans is much lower compared to other loans because it is a secured loan.
• Minimum Document: The documentation process is simple and straightforward; the minimum number of documents is required for the Bank of Maharashtra gold loan to be accepted.
• Transparent system: We do not levy secret charges for loans. These are the priorities of a bank.
• Loan Sum: The minimum amount of loan available to customers is Rs. 15000. Often, it can be less than Rs 10000 in remote areas.
• Jewellery Security: We are responsible for your jewellery care. In fireproof vaults, therefore, the gold is contained.
• Loan tenure: The tenure of gold loans can be from 3 months to 2 years. You can make a choice for tenure, as per your comfort.
• Benefits for farmers: The Bank of Maharashtra provides several special offers for agricultural purposes. This means that the bank is providing a slightly lower interest rate to farmers on gold loans for agricultural use.
• No Debt Burden: In such a situation where the bank will only seize the ornaments held by you, we are mindful that there might be occasions where a borrower is unable to pay for the loan sum, the lender will not be under debt.
• No income limits: there are no such limits on the salary or income of the lender; hence, anybody with any income range may use a gold loan at any time.

How Much Gold Loan can I Get through Bank of Maharashtra Gold Loan:

Bank of Maharashtra Gold Loan Per Gram – Updated September 2020

Bank of Maharashtra Gold Loan Eligibility:

Bank of Maharashtra Gold Loan Documents Required:

Bank of Maharashtra Gold Loan Interest Rate, Fees, and Charges:

About Bank of Maharashtra Gold Loan:

If you face financial difficulties, defeat your crisis with the most reasonable solution, the Gold Loan. The loan issued for gold is known as the Gold Loan. With the lender as collateral, the borrower keeps his gold ornaments and takes the cash. Get prompt approval and a process free of hassle. Accessible with records that are convenient. A loan which is covered is a gold loan. This service can also also be used conveniently by individuals who have a low CIBIL score.

Nevertheless, though there are a variety of financial banking and non-banking firms that provide you with a gold loan service, Bank of Maharashtra Gold Loan is the most taken into consideration. It is one of the most reputed and reliable banks in India. It is also known for its extraordinarily good financial services. So, apply for the Bank of Maharashtra Gold Loan and take advantage of the best offers on your item.

• Bank of Maharashtra Gold Loan Interest Rate is 7.11% per annum
• Bank of Maharashtra Gold Loan Per Gram is ₹ 5,032
• Bank of Maharashtra Gold Loan Tenure: Up to 24 months
• Bank of Maharashtra Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST

Types of Bank of Maharashtra Gold Loan:

Maharashtra Bank offers various product-related Gold Loan schemes, which are listed below:

• Loan Against Gold – Bank of Maharashtra offers gold loans at interest rates for any reason, whether personal or technical or not, to meet the dire requirement of funds. The gold loan is certainly a secured loan then; the bank has no risk of granting the amount to the individual, so it is issued at a lower rate of interest compared to various types of loan merchandise.
• Agriculture Loan Against Gold – The Maharashtra Bank specifically provides farmers with gold loans for agricultural functions at a specific interest rate compared to gold loans for other different uses. Special deals are given to them, and they can turn out documentation of the bank land for which they are taking the loan.

Bank of Maharashtra Gold Loan EMI Calculator:

How to Pay Your Bank of Maharashtra Gold Loan EMI?

Your Bank of Maharashtra gold loan is normally repaid using the following three alternative methods:

• Standing Instruction (SI): Standing Instruction is the simplest and most reliable payment form if you are currently an account holder with the Bank of Maharashtra. Your EMI number is automatically credited at the end of the month to month number from the Bank of Maharashtra bank account you show.
• Electronic Clearing Service (ECS): Typically, if you have a non-Bank of Maharashtra record, this payment method is used, and you want your EMIs to be debited from the account you report to us near the decline of the month-to-month process.
• Post-Dated Checks (PDC): You can show your post-dated EMI reports from a non-Bank of Maharashtra financial statement at your nearest Bank of Maharashtra Loan Centre. There is a need to rapidly grant a different edition of PDCs. If you note that Post Dated Checks are progressing because it was, it would be fine to collect non-ECS states.

Bank of Maharashtra Gold Loan Contact Number:

Call 9878981144 to obtain immediate assistance and authorization for your Gold Loan from Bank of Maharashtra. You can easily get to know the most successful Gold Loan deals out there from all Bank of Maharashtra branches around the globe to use the most productive offer applicable to your wishes.

Gold Ornaments Accepted by Bank of Maharashtra :

• For example, gold jewellery, gold bracelets, gold bands, gold anklets, gold collars, etc. The Bank of Maharashtra is buying all these ornaments for a gold loan.
• Quality: The gold quality must vary between 18 and 22 carats. Any gold decoration that is 24 carats can not be used while applying for a gold loan.

Use of Bank of Maharashtra Gold Loan:

For several reasons, the funds raised by the use of the Bank of Maharashtra Gold Loan service can be used, such as:

• To fund certain personal investments, such as marriage, hiking, higher fees for tuition, etc.
• For all of your marketing initiatives, such as getting supplies, designing, promoting, etc., loan programmes are still available.
• Furthermore, for agricultural ideas, you can also gain from a Gold Loan. The bank has lower gold loan interest rates that are used for farming or associated projects.

Gold Loan Interest Rate of Major Banks

FAQs About Bank of Maharashtra Gold Loan:

• What is Bank of Maharashtra Gold Loan?

The Bank of Maharashtra Gold Loan is a form of loan that can only be used for essential financial support by keeping your gold as collateral with the bank. Term Loan, Overdraft, and EMI interest rates dependent predominantly on loans 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 Maharashtra?

You can get a Bank of Maharashtra Gold Loan by visiting any of India’s gold loan approving branches; otherwise, from the comfort of your home, you can apply online with LendingWale and get the best deals and offers. It is one of the few leading banks in India providing Gold Loan facilities.

• What is the Gold Loan Interest Rate in Bank of Maharashtra?

The gold loan rate in India is 7.11 per cent per annum. In general, the interest rate depends on a variety of components, such as the amount of the loan, the tenure of the loan, the pureness of gold, and your bank relationship.

• How much Gold Loan can I get per gram in Bank of Maharashtra?

The gold credit you receive at the Bank of Maharashtra per gramme depends on the purity of your gold. The Bank of Maharashtra accepts gold of purity between 18 carats and 22 carats and offer a gold loan. You could use up to 5,032 per gramme on the Bank of Maharashtra Gold Loan.

• How to check Gold Loan status in Bank of Maharashtra?

To evaluate your Bank of Maharashtra Gold Loan status, you just need to go to the Bank of Maharashtra loan status tracker web page and fill in your details with the application issued. You can control your loan’s status directly from anywhere and keep it updated.

• How to calculate Gold Loan Interest in Bank of Maharashtra?

You can measure the interest on your Bank of Maharashtra Gold Loan interest via the LendingWale ‘EMI Calculator, which gives you correct amounts based on the details you enter into the calculator.

• How to Pay Bank of Maharashtra Gold Loan Interest Online?

You can easily pay Bank of Maharashtra Gold loan interest online through internet banking on the official Bank of Maharashtra loan repayment website or else; you could also repay your Bank of Maharashtra Gold loan on Paytm using the most preferred payment form.

• What if I can’t pay the interest on Bank of Maharashtra Gold Loan for 3 months?

If you do not pay the Bank of Maharashtra Gold Loan within three months, the bank will first notify you of your incomplete contributions. If the payment requests go unanswered, a formal legal notice regarding the repayment and termination of the loan is distributed. Defaulting on your gold loan leads to a decline in your credit score which allows you to face legal action by the bank, along with the confiscation which sale of your gold.

• How can I apply for EMI Moratorium on Bank of Maharashtra Gold Loan?

You can currently apply for an EMI moratorium on the Bank of Maharashtra Gold Loan between 1 March and 31 August 2020 and must do so by contacting the Bank’s customer service department or by visiting the nearest branch of the Bank of Maharashtra.