Bank of Baroda Gold Loan

Bank of Baroda Gold Loan Features – Apply Now

Bank of Baroda Gold Loan Interest Rate	7.0% per annum
Bank of Baroda Gold Loan Per Gram Rate	BOB Gold Loan Rate Per Gram today is Rs. 5,121
Bank of Baroda gold loan Processing Fee	Up to 1% of the loan amount or ₹1000 whichever is higher
Bank of Baroda Maximum Gold Loan Amount	Up to Rs. 1 crore.
Bank of Baroda Minimum Loan Amount	75% Ltv
Bank of Baroda gold loan Prepayment Charges	1%+ GST of the Loan Amount
Bank of Baroda gold loan Repayment Tenure	Up to 36 months
Bank of Baroda gold loan Repayment Scheme	Bullet Payment Scheme, Overdraft Scheme

Bank of Baroda issues a Gold Loan per gram rate of ₹ 2,506 to ₹ 3,168 in line with the current gold rate. The best Bank of Baroda Gold Loan Rate per gram is ₹ 3,017 for 22 Carat gold, measured at a maximum 85% loan to value and the average gold price for the last one month for 22-carat is ₹ 4,469.

Bank of Baroda Gold Loan Interest Rate
Demand Loan	BRLLR + SP + 2.00%
Overdraft	BRLLR + SP + 2.15%
EMI	BRLLR + SP + 2.00%

Bank of Baroda Gold Loan Explanation

Bank of Baroda gold loan can be profited to meet a dire requirement for money by vowing your gold decorations or gold coins as insurance. Gold advance is probably the speediest type of acquiring and can be benefited by existing clients of just as new borrowers. With Bank of Baroda, you won’t just profit from the gold credit effectively yet additionally at a serious loan fee. Here is all you require to think about Bank of Baroda gold credit financing cost, residency, sum, and different terms and conditions.

Bank of Baroda Comparision With Other Banks

Bank of Baroda offers gold loans at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a jewelry loan.

Particulars	Bank of Baroda	SBI	HDFC Bank
Interest Rate	7%	7.50% – 7.50%	9.90% – 17.55%
Processing Fees	Up to 1% of the loan amount or ₹1000 whichever is higher	0.50% of the loan amount, minimum Rs. 500	1.50% of the loan amount
Loan Tenure	3 months to 12 months	3 months to 36 months	3 months to 24 months
Loan Amount	₹ 10,000 to ₹ 10 Lakh	₹ 20,000 to ₹ 20 Lakh	₹ 25,000 to ₹ 50 Lakh
Foreclosure Charges	Up to 0.50% of the principal amount	Nil	Nil after 3 months
Repayment Options	Y	Y	Y
Lowest EMI Per Lakh	₹ 3,111 per lakh	₹ 3,111 per lakh	₹ 4,610 per lakh

Tips To Get Gold Loan From Bank of Baroda Gold Loan Fast

• Bank of Baroda acknowledges both hallmarked and non-hallmarked adornments for getting a gold advance. In any case, you can get the most elevated gold credit per gram for trademark adornments, as it decreases the odds of under-valuation by the valuer. Likewise, a few banks charge lower preparing expenses on hallmarked gold gems.
• Bank of Baroda changes the cost of 22-carat gold for immaculateness of gold. Consequently, consistently attempt to get against higher virtue adornments as it will bring you the most elevated sum for gold advance.
• Bank of Baroda will compute the net load of gems to ascertain the measure of advance against the gold you can get. Continuously, attempt to pick adornments that have the least jewels and stones. A large portion of the banks will lessen the heaviness of pearls and stones from a complete load of adornments. Bank of Baroda will depend on the report of his gold valuer to compute the net weight.
• Higher the heaviness of pearls and stones in adornments, bring down the net weight and estimation of gems which brings about the lower measure of gem advance you can are qualified to get Further, Bank of Baroda won’t acknowledge jewel gems if the gold utilized is under 18-carat immaculateness. The vast majority of the precious stone adornments is made in 16 carats to 18-carat gold and henceforth, will bring about low gold advance per gram.
• Continuously attempt to get the greatest LTV on the estimation of gold. Bank of Baroda is permitted by RBI to charge a most extreme LTV of up to 85% to compute the measure of gold credit you are qualified for.

Advantages Of Bank of Baroda (BOB) Gold Loan

Multipurpose Gold Loan – Bank of Baroda Gold loan can be utilized for satisfying any need of the candidate which can be an individual cost like a wedding or a get-away or any business reason, for example, purchasing crude material, extension, and so forth.

Speedy approval –Gold Loan from Bank of Baroda is immediately affirmed if the candidate is a current record holder with the bank. For this situation, the candidate doesn’t require any reports; he/she simply needs to visit the part of the manage an account with the gold that will be vowed.

High quantum –Borrowers can get a Bank of Baroda Gold loan in various sections, subject to their necessity and foundation.

Serious interest –Bank of Baroda Gold loan comes at a severe enthusiasm pace, making reimbursement light on the pocket and gives equivalent advantages as well.

Foreclosure –Borrowers can decide to prepay the UCO Gold loan without the concern of prepayment charges.

Bank of Baroda surrenders financing of 70% of the total market cost of your gold keeping the rest 30% as a security margin amount.

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How Much Gold Loan Can I Get Through Bank of Baroda (BOB) Gold Loan?

As per the recent prices, the Bank of Baroda Gold Loan per Gram today is worth ₹ 5,121 for 22-carat jewelry calculated at the maximum LTV of 75% and reasonable primrose mortgage costs of  30 days.

Bank of Baroda Gold Loan Per Gram –

Updated - Gold Loan Per Gram Rate w.e.f Apr 20 2021
Gold Weight	Gold Purity 24 Carat	Gold Purity 22 Carat	Gold Purity 20 Carat	Gold Purity 18 Carat
1 gram	4680	4290	3900	3510
10 gram	46800	42900	39000	35100
20 gram	93600	85800	78000	70200
30 gram	140400	128700	117000	105300
40 gram	187200	171600	156000	140400
50 gram	234000	214500	195000	175500
100 gram	468000	429000	390000	351000
200 gram	936000	858000	780000	702000
300 gram	1404000	1287000	1170000	1053000
400 gram	1872000	1716000	1560000	1404000
500 gram	2340000	2145000	1950000	1755000

About Bank of Baroda Gold Loan

Bank of Baroda (BoB) was founded on 20 July 1908 headquartered in Vadodara (earlier known as Baroda) in state Gujarat, India. The bank has a corporate office in Mumbai city. Besides, the government of India announced the merger of Bank of Baroda, Vijaya Bank, and Dena Bank on 17 September 2018, to create the country’s third-largest lender.

Bank of Baroda Gold Loan has certain benefits, such as quick processing time, low-interest rates, medium-term tenure, etc. The Bank of Baroda loan can help you meet an urgent need for cash. Different gold assets are eligible to get the Bank of Baroda Gold loan, but mostly the preferred gold type is jewelry and coins and not biscuits or bars. Bank of Baroda offers credit against gold at contentious interest rates. The pledged gold ornament is locked safely in the Bank of Baroda locker, and the borrower does not have to worry about their Gold safety.

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Bank of Baroda (BOB) Gold Loan Eligibility 

Bank of Baroda Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail of financial service provided by banks at low rates of interest and also requires minimal documentation for the same. Bank of Baroda gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.

Primary Eligibility criteria for availing of the Bank of Baroda Gold Loan is: 

Age	18-75 years
Requirements	Gold ornaments (18-22 carats)
CIBIL score	Above 500
Nationality	Indian

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Bank of Baroda Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Bank of Baroda wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire bank of Baroda Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures the high security of your gold ornaments till the loan is closed.

Documents required for applying for the Bank of Baroda Gold Loan are :

Identity Proof	Aadhar Card/Pan Card/ Passport/ Voter ID (Anyone)
Residence Proof	Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Anyone)
Agriculture Proof ( if applicable)	Agriculture Land Ownership Proof
Photographs	2 Passport sized colored

Bank of Baroda Gold Loan Interest Rate, Fees, and Charges

Baroda Bank Gold Loan can fulfill all your urgent short term and long term monetary requirements. The rate of interest that you will be charged depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Baroda Bank’s gold loan interest rate is lower in comparison to other loans because it is a fully secured loan.

Gold Loan Interest Rate	7.0% per annum
Processing Fee	Up to 1% of the loan amount or ₹1000 whichever is higher
Loan to Gold value	Up to 75%
Service Charges	Rs 250- Rs 5000 (depending on the loan amount)
Document Charges	Rs 199 (for loans up to 1-year tenure)

The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.

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Types Of Bank of Baroda Gold Loan

• Agricultural purpose: Bank of Baroda offers loans against gold for agrarian purposes at just a 7% rate of interest.
• Non-Agricultural purpose: The rates of interest are slightly higher for non-agricultural purpose loans.
• Retail: The rate of interest varies for priority and non-priority sectors, respectively.

Gold Loan Apply Online

You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.

• Visit Dialabank’s digital platform, where you can apply for a gold loan without any registration.
• Our Relationship Manager will get in touch with you and sail you through the entire gold loan procedure and assist you in availing of the gold loan.
• You will get personalized service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
• With Dialabank, you can compare the different offers and schemes from various banks based on the funding provided and the rate of interest charged for choosing the best loan deal for yourself.

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Bank of Baroda Gold Loan EMI Calculator

Rate of Interest	6 months	1 Yr	2 Yrs	3 Yrs
7.00%	17008	8652	4477	3088
8.00%	17058	8699	4523	3134
8.50%	17082	8722	4546	3157
9.00%	17107	8745	4568	3180
9.50%	17131	8678	4591	3203
10.00%	17156	8791	4614	3227
10.50%	17181	8815	4637	3250
11.00%	17205	8838	4661	3274
11.50%	17230	8861	4684	3298
12.00%	17254	8885	4707	3321
12.50%	17279	8908	4731	3345
13.00%	17304	8932	4754	3369
13.50%	17329	8955	4778	3393
14.00%	17354	8979	4801	3418
14.50%	17378	9002	4825	3442
15.00%	17403	9026	4845	3466

How To Pay Your Bank Of Baroda Gold Loan EMI?

Your Bank of Baroda gold advance can be reimbursed in the following three different ways.

1. Standing Instruction (SI): If you are a current record holder with the Bank of Baroda, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Bank of Baroda account you indicate.
2. Electronic Clearing Service (ECS): This mode can be utilized if you have a non-Bank of Baroda account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
3. Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Bank of Baroda account at your closest Bank of Baroda Loan branch. A new arrangement of PDCs should be provided on time. It will be ideal if you note Post Dated Checks will be gathered in non-ECS areas as it were.

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Gold Loan Agent Contact Number

If you need any assistance for availing of Gold Loan, you may contact us on 9878981144.

Gold Ornaments Accepted By Bank of Baroda

Gold jewelry such as Gold Bangles, rings, anklets, and necklaces, all of these are accepted for availing a Bank of Baroda Gold Loan.

Purity: The purity of gold should lie between 18 Carat to 22 Carat. Any gold ornament of 24 Carat purity, cannot be used for availing a gold loan.

**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewelry**

Uses Of Bank of Baroda Gold Loan

The funds acquired by availing the Bank of Baroda Gold Loan service can be used for several purposes such as:

• To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
• For all your business needs, such as buying raw material, expansion of business, etc.
• You can also avail of a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.

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Bank of Baroda Agricultural Jewel Loan Scheme

Scheme	Agricultural Jewel Loan Scheme
Interest Rate	Starting from 7% (depends on the sum of the loan
Least amount of Loan	Depends on the value of the jewel which is being kept as security
Loan period	Adjustment of advance sum inside 2 months from the date of reap of yields

Bank of Baroda Agricultural Jewel Loan Scheme

• There is no processing fee is applicable up to ₹ 25,000.
• 0.30% of the loan amount, Minimum of ₹ 300 charge applies to the amount ranging from above ₹  25,000 – less than ₹ 5 lakh.
• 0.28% of the credit sum, subject to at least Rs.1,500 applies to the amount of more than Rs.5 lakh however under Rs.1 crore.

Benefits of Bank of Baroda Agricultural Jewel Loan Scheme

• There is no processing fee is applicable up to ₹ 25,000.
• 0.30% of the loan amount, Minimum of ₹ 300 charge applies to the amount ranging from above ₹  25,000 – less than ₹ 5 lakh.
• 0.28% of the credit sum, subject to at least Rs.1,500 applies to the amount more than Rs.5 lakh however under Rs.1 crore.

Bank of Baroda Bank Gold Loan Overdraft Scheme

Bank of Baroda offers an Overdraft Scheme. With this, you are provided a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Gold Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Bank of Baroda Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

Bank of Baroda Bank Gold Loan Key Highlights

Age	18-75 years
Minimum Loan Amount	Rs. 25,001
Maximum Loan Amount	Rs. 25 Lakh
Bank of Baroda Gold Loan Interest Rate	7% p.a. onwards
Loan Tenure	From 3 months up to 36 months
Gold Items accepted	Jewelry and gold coins sold by banks
Bank of Baroda Gold Loan Processing Charges	1% of the loan amount

How Does the Bank of Baroda Gold Loan Work, Here’s An Example

The advance sum qualification is settled based on the immaculateness of gold, LTV, and weight of gold. Assume Mr. An and his two companions Mr. B and Mr. C own various measures of gold with shifting immaculateness. Mr. A has 50 grams of gold with a virtue of 22 carats. Mr. B has 60 grams of gold with a virtue of 20 carats and Mr. C has 70 grams of gold with virtue or 22 carats. They approach the Bank of Baroda to profit a gold advance. The value applied to ascertain their gold credit sum qualification dependent on the most extreme LTV of 85% will differ by the virtue of gold and consequently, will bring about shifting gold advance qualification.

FAQs About Bank of Baroda Gold Loan

✅ What is the Bank of Baroda Gold Loan?

Bank of Baroda Gold Loan is a secured loan that can be availed by any Indian citizen above the age of 18 years and below 70 years against their gold ornaments as collateral security. The bank provides loans at attractive rates for up to a maximum amount of Rs 25 lacs and a maximum tenure of 12 months. Repayments can be made online or offline, and loan renewal can be done at the end of each tenure after review. The loan availed against gold pledged with the bank can be used to fulfill any personal or business needs.

✅ How can I get a Gold Loan?

You can avail of Gold Loan in a hassle-free and straightforward process:

• Fill in your vital information in the form available on Dialabank.
• Our trained Relationship Manager will get in touch with you within 30 minutes.
• We will suggest you the loan according to your requirements, in your specific city.
• Visit the assigned branch of the bank.
• Get the loan sanctioned in just 30 minutes.

✅ How much is the Bank of Baroda Gold Loan Per Gram today?

Bank of Baroda provides Gold Loan at attractive interest rates. Bank of Baroda Gold Loan Rate Per Gram today is Rs. 5,121. It also depends on the quality of the gold. 24K gold is not accepted for Gold Loan.

✅ How does the Bank of Baroda Gold Loan work?

The Bank of Baroda Gold loan is a secure credit availing service available for those who have urgent cash requirements and can pledge gold ornaments as collateral security. Once the gold pledged with the bank is valued, the bank processes the loan amount in your indicated account immediately. Various repayment options are available for repaying the loan.

✅ How much is the Baroda Bank Gold loan interest rate? 

Bank of Baroda provides the Best Gold Loan Interest rate is 7.0% per annum currently.

✅ How to check Bank of Baroda Gold Loan status?

You can check the status of your gold loan by contacting the customer care executive of the bank, checking the online portal, or by visiting the branch physically and meeting the officer in charge of your loan file.

✅  How to calculate Gold Loan Interest in Bank of Baroda?

You can easily calculate the gold loan interest rate in the Bank of Baroda by subtracting the principal amount from the total sum to be paid.

✅ What is the maximum loan amount I can avail myself of on a Gold Loan from the Bank of Baroda?

You can get a maximum amount of Rs 1 crore on a Bank of Baroda Gold Loan as the bank offers around 75% of the gold ornaments’ market value.

✅ What is the loan tenure of the Bank of Baroda Gold Loan?

The maximum tenure of your Bank of Baroda Gold Loan is up to 36 months. However, you’ll be required to renew your loan plan after a year.

✅  How much Processing Fee is applicable on the Bank of Baroda Gold Loan?

A processing fee of up to 1% of the loan amount or ₹1000 whichever is higher is charged.

✅ How to renew the Bank of Baroda Gold Loan?

Renewal of Gold Loan account at Bank of Baroda can be done by visiting the bank branch where the loan was initially approved. You can renew your Gold Loan once you have reached the end of your tenure. You may be required to pay a renewal fee and fill out a renewal form. The gold ornaments kept as security will be revalued, and new loan terms will be decided.

✅ How to renew the Bank of Baroda Gold Loan online?

You can renew your Gold Loan online once you have reached the end of tenure by visiting the online portal of the bank and applying for the same. A small renewal fee may be charged, and your loan will be renewed for the new mandate.

✅ What are the charges for the renewal of the Bank of Baroda Gold Loan?

Bank charges approximately Rs. 250- Rs. 500 for renewal of the gold loan.

✅ What are the charges for Prepayment in the Bank of Baroda Gold Loan?

Bank of Baroda charges nothing for prepayment of the gold loan.

✅  How to pay Bank of Baroda Gold Loan Interest online?

For Bank of Baroda account holders, online payments can be made through the bank’s online portal or mobile application via net banking, debit cards, or mobile wallets such as Paytm.

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

If someone defaults on the payments of Bank of Baroda Gold Loan interest for 3 months, a penalty fee is charged on the total amount due, and in case of repeated defaults, the bank will have the authority to auction your gold ornaments to recover the amount publicly.

✅ How can I apply for the EMI Moratorium on Bank of Baroda Gold Loan?

You can apply for the Bank of Baroda Gold loan moratorium online by logging in with your credentials or by personally visiting the main branch. The moratorium request has to be submitted at least five working days before the due date of your EMI.

✅How to pay a Bank of Baroda Gold loan through a credit card?

As per RBI Guidelines, the Bank of Baroda Gold loan cannot be repaid via credit cards. Other payment modes such as net banking, debit cards, cheques, DDs can be used for loan repayment.

✅What is the Bank of Baroda Gold Loan Customer Care Number?

For any assistance regarding a gold loan in Bank of Baroda, you can contact on the number 9878981144.

✅What is the Overdraft Scheme for Bank of Baroda Gold Loan?

The Overdraft Scheme has a Credit/Loan Limit. The bank charges interest on the amount withdrawn/utilized.

✅What is the Bank of Baroda Gold Loan closure procedure?

The Gold loan will automatically close after the payment is done in full.

✅ What is Bank of Baroda Gold Loan Preclosure charges?

The Bank preclosure charges are 2%+GST (Within 3 Months), 0 (After 3 months)

✅ What is the maximum gold loan tenure?

The maximum gold loan tenure is 12 months.

✅ What is Bank of Baroda Gold Loan Foreclosure charges?

Up to 0.50% of the principal amount is charged as Foreclosure charges.

✅ What is the minimum gold loan tenure?

The minimum gold loan tenure is 6 months.