Bank of Baroda gold loan interest rate varies according to the type of scheme or borrower and loan amount. The BOB gold loan interest rate is 8.85% p.a. for Retail Gold Loan and 8.30% to 9.05% p.a. for Agri Gold Loan. Apart from the interest rate, the borrower is also required to pay the applicable processing fees on loan.
Following are the key features of the Bank of Baroda gold loan retail scheme:
Below is the comparison of the Bank of Baroda gold loan interest rate with the gold loan interest rates of other lenders. You can check which bank offers the lowest interest rate on gold loans in India before applying for a gold loan:
|Bank||Rate of Interest (p.a.)||Loan Amount||Processing Fee||Tenure|
|Bank of Baroda Gold Loan||8.30% - 9.05%||Up to Rs. 50 Lakhs||Up to 0.50% + GST||1 year - 3 years|
|Indian Bank Gold Loan||7% - 9.80% p.a.||No upper limit||Nil||Up to 35 months|
|UCO Bank Gold Loan||7.40% - 7.90% p.a.||No upper limit||Up to 0.20%||Decided by the bank|
|PNB Gold Loan|
|Rs. 25 000 to Rs. 25 Lakhs||0.30% or Rs. 500 + GST, whichever is higher||Up to 12 months|
|Canara Bank Gold Loan||13% onwards||Rs. 5,000 - Rs. 35 Lakhs||1%||6 months - 1 year|
|HDFC Bank Gold Loan||7.60% - 16.81%||Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)||1%||3 months - 2 years|
|SBI Gold Loan||8%||Rs. 20,000 - Rs. 50 Lakhs||Nil till 31.01.2023||Up to 3 years|
|ICICI Bank Gold Loan||10% - 17.95%||Rs. 50,000 - Rs. 1 Crore||1%||6 months - 1 year|
|Kotak Mahindra Bank Gold Loan||8% - 17%||Rs. 20,000 - Rs. 1.5 Crores||Up to 2% + GST||Up to 4 years|
|Axis Bank Gold Loan||17% - 19%||Rs. 25,001 - Rs. 25 Lakhs||Up to 0.50%||6 months - 3 years|
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 8.88% p.a. You can avail of emergency loan ranging from Rs 50000 to Rs 20 Lakhs against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
Bank of Baroda offers the following two types of gold loan schemes:
The loan can be availed of as a Demand Loan, EMI, and Overdraft. It loan can be used for all purposes except speculation.
This loan can be availed of as Cash Credit and Demand Loan for agriculture and allied activities and other priority sectors.
The gold loan per gram rate fluctuates depending on the purity of the gold to be pledged, BOB gold loan interest rate, repayment tenure, market prices and other factors. Currently, it ranges from Rs. 1,755 to Rs. 2,145.
You can check your BOB gold loan eligibility by using the Bank of Baroda bank gold loan calculator available on the official website of the bank. The gold loan calculator gives you an accurate loan amount eligibility depending on the information of the gold ornaments mentioned by you in the table. You can check the total as well as the breakup of the loan amount that you can receive from the bank.
Following are the fees and charges involved in taking a Bank of Baroda Gold Loan:
The Bank of Baroda gold loan interest rate is 8.85% p.a. for Retail Gold Loan and 8.30% to 9.05% p.a. for Agri Gold Loan.
The maximum tenure of the gold loan in the Bank of Baroda ranges from 1 month to 36 months.
Yes, you can easily transfer your gold loan from another lender to the Bank of Baroda through the gold loan balance transfer facility.
After validating your KYC documents, contact the bank for further details. Typically, you can get a Bank of Baroda gold loan in an instant of 15 minutes.
You have to submit the following documents to apply for a BOB gold loan:
No, having a PAN Card is not mandatory to take a gold loan from the Bank of Baroda.
No, there is no such provision as of now.