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AT LOWEST INTEREST RATE

⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.79% p.m.

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    Bank of India Gold Loan

    Bank of India Gold Loan Key Features – Apply Now

    Bank of India Gold Loan Interest Rate 7% per annum
    Bank of India Gold Loan Per Gram Rate
    ₹ 3,506 to ₹ 4,621
    Bank of India Processing Fee
    1% of the Principal Loan Amount
    Bank of India Loan Amount
    Up to Rs. 1 Crore (With Income Proof)
    Bank of India Prepayment Charges
    NIL
    Bank of India Repayment Tenure
    18 Months
    Bank of India Repayment Scheme
    Bullet Payment Scheme, Overdraft Scheme

    Bank of India issues a Gold Loan per gram rate of ₹ 3,506 to ₹ 4,621 in line with the current gold rate. The best Bank of India Gold Loan Rate per gram is ₹ 3,506 to ₹ 4,621 for 22 Carat gold, measured at a maximum 75% loan to value, and the average gold price for the last one month for 22-carat is ₹ 3,506 to ₹ 4,621.


    gold loan


    Advantages of Bank of India Gold Loan

    1. Documentation required is minimal in comparison to other types of services.
    2. This type of loan is readily available by a lot of banks.
    3. The CIBIL score is not considered to be necessary for this service.
    4. The cost of processing a gold loan is negligible.

    gold loan

    How Much Gold Loan can I Get through BOI Gold Loan?

    As per the ultra-modern riches prices, Bank of India affords a gold loan through thorp regarding Rs. 5,121. The highest Bank of India riches mortgage dimension per village lately is Rs. 5,121 for 22-carat jewellery considered at the most LTV concerning 75% then average gold loan expenditures of the remaining 30 days of 2020 are Rs. 5,121 regarding 22 carat.


    gold loan

    Bank of India Gold Loan Per Gram – Jul 26 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jul 26 2021

    Gold Weight Gold Purity
    24 Carat
    Gold Purity
    22 Carat
    Gold Purity
    20 Carat
    Gold Purity
    18 Carat
    1 gram 4621 4290 3900 3510
    10 gram 46210 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


    gold loan

    Introduction to Bank of India Gold Loan

    Bank of India is a state-owned commercial bank with headquarters in Mumbai. It is India’s 9th largest PSU (Public Sector Undertaking) bank founded by the Indian Government in 1969. It has 4187 branches all over India and about 1679 ATM’s in the country.

    Bank of India Gold LoanThe bank is a leading provider of financial services and is also one of the premier funding institutions. It provides instant loans against gold. Gold Loan is availed to overcome the short-term requirements of a person. Gold is one of the most precious and costly metals in India. Also, most people are emotionally attached to this metal because of its traditional value in our country.

    However, what is the point of keeping your Gold in a closed drawer when it can help you overcome financial hurdles? Taking a loan against Gold can help you to overcome any drastic situation. Gold Loan is the best way to get cash in a short span.

    Know More – Gold Loan Interest Rate


    gold loan

    Bank of India (BOI) Gold Loan Eligibility

    Age
    18-75 years of age
    Nationality Indian
    Employment Status
    Salaried, Self-Employed
    Requirements
    Gold Ornaments (Minimum 18 Carats)

    Gold Loan is a commercial good produced by the bank which provides a solution to your requirements of short term or long term funds. It is comfortable to avail of business services offered by banks at low rates of interest and also needs insignificant documentation. Bank of India proffers you the Loan amount within an hour of administration as the appraisal and approval process is quickly done, storing in mind your seriousness regarding the need for funds.


    gold loan

    Benefits of Bank of India Gold Loan

    1. The borrower can choose a tenure of the loan.
    2. The bank does the safety of ornaments without any charges.
    3. The system of this service is apparent.
    4. Bank of India charges a borrower up to .50% on the principal amount in case of a Gold Loan Foreclosure.

    gold loan

    Bank of India Gold Loan Documents Required

    Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Bank of India 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 India 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.

    A duly filled and signed Gold Loan application form shall be submitted along with the following documents:

    Documents required for Applying for Bank of India Gold Loan are:

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

    gold loan

    Bank of India Gold Loan Interest Rate, Fees and Charges

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

    BOI Gold Loan Interest Rate
    Interest Rate Starting 7.0%
    Processing Fee
    1% of the Principal Loan Amount
    Prepayment/Foreclosure Charges
    NIL
    Documentation Charges
    Rs 250 upwards

    Types of Bank of India Gold Loan

    • Loan Against Gold – Bank of India provides Gold Loan at attractive rates of interest to fulfil anyone’s dire need of funds for any purpose whether personal or professional. The rate starts at just 7.00% making it one of the most affordable rates.
    • Loan for Agriculture – Bank of India offers loans against gold at special rates which are way lower than the original rates for farmers seeking a loan for agriculture purposes.

    gold loan

    Bank of India (BOI) Gold Loan Apply Online

    Applying for the Bank of India Gold Loan service is a hassle-free and straightforward process that can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with the necessary information.

    • Visit Dialabank’s digital platform, where you will have just to fill a form without any registration.
    • Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
    • 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 different banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.

    gold loan

    Bank of India Gold Loan EMI Calculator

    Rate
    5 Yrs
    4 Yrs
    3 Yrs
    10.50%
    2149
    2560
    3250
    11.00%
    2174
    2584
    3273
    11.50%
    2199
    2608
    3297
    12.00%
    2224
    2633
    3321
    12.50%
    2249
    2658
    3345
    13.00%
    2275
    2682
    3369
    13.50%
    2300
    2707
    3393
    14.00%
    2326
    2732
    3417
    14.50%
    2352
    2757
    3442
    15.00%
    2378
    2783
    3466


    gold loan

    • Gold Loan EMI Calculator is an online tool that can be accessed by individuals to calculate the EMI against the gold loan they plan to avail against the self-owned gold.
    • The gold ornaments have to be kept as security with the lender until the loan is fully reimbursed.
    • Gold Loan EMI calculator can help the applicant to get approx.
    • EMI Calculator can try different rates of interest and reimbursement tenure offered by financial institutions.

    Details of Bank of India Gold Loan

    1. Purpose – The motive here is to cover the needs for Agriculture/MSME/OPS/Retails/Consumption Purpose.
    2. Eligibility – Any individual who is the owner of ornaments/gold jewelry/coins and an account holder of the branch is eligible for the Bank of India Gold Loan.
    3. Quantum of Loan – For Agriculture/MSME/OPS/Retails/Consumption Purpose, the amount is Rs 15-25 lakhs. For other purposes, it is Rs 10 lakhs.
    4. Security – The belongings like ornaments/gold jewelry/coins should be pledged by the bank.
    5. Margin – For Agricultural purpose, it is 15-20% and for /MSME/OPS it is 25% (15% till 31.03.2021)
    6. Interest Rates – For Agriculture, the limit is up to 15 lakhs. Interest against hallmarked jewellery and gold coins is 7.35% and 7.40% for normal jewellery.
    7. Reimbursement procedure – The reimbursement can be done monthly, quarterly, half-yearly, yearly depending on the income of the person.
    8. Processing Charges – NIL up to 1 lakh. above 1 lakh is Rs 125 per lakh for hallmarked jewellery and Rs 150 per lakh for the normal jewellery.
    Bank of India Gold Loan Rate 7% per annum
    Processing Fee 0.50% of the loan amount, minimum ₹ 500
    Loan Tenure 3 months to 36 months
    Loan Amount For Agriculture/MSME/OPS/Retails/Consumption Purpose, the amount is Rs 15-25 lakhs. For other purposes, it is Rs 10 lakhs.
    Processing Charges NIL up to 1 lakh. above 1 lakh is Rs 125 per lakh for hallmarked jewellery and Rs 150 per lakh for the normal jewellery.
    Gold Loan Scheme Bullet Repayment Scheme

    gold loan

    How to Pay Your Bank of India Gold Loan EMI?

    Your Bank of India 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 India, 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 India account you indicate.bank of india gold loan
    2. Electronic Clearing Service (ECS): This mode can be utilized if you have a non-Bank of India 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 India account at your closest Bank of India Loan Center. A new arrangement of PDCs should be submitted on time.


    gold loan

    Bank of India Bank Gold Loan Contact Number

    Call 9878981144 and get instant help and approval for your Bank of India Gold Loan.


    gold loan

    Gold Ornaments Accepted by Bank of India Gold Loan

    • The quality of the Gold should be 18 carats to 22 carats.
    • The loan is provided for the specific Gold ornaments (preferably hallmarked), from any reputed jewellers and/or Gold coins of the bank.
    • Any gold asset in the raw form is not acceptable.
    • Gold bars and gold bricks are not acceptable.
    • Minted gold coins are not accepted.
    • Gold coins less than 50 grams can be accepted.

    Know More – Gold Loan Per Gram


    gold loan

    Uses of Bank of India Gold Loan

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

    • To fund any personal expenses such as matrimony, voyage, mortgage of higher education expenses, etc.
    • For all your custom needs, such as ordering raw material, augmentation of business, etc.
    • You can additionally avail of a Bank of India Gold Loan for farming purposes. Bank of India allows lower rates of interest for Gold Loans used for farming or associated activities.

    gold loan

    Bank of India Agricultural Jewel Loan Scheme

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


    gold loan

    Benefits of Bank of India Agricultural Jewel Loan Scheme

    • Bank of India does not charge a processing fee up to ₹ 25,000.
    • 0.30% of the loan amount, a Minimum of ₹ 300 is charged 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 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore.

    gold loan

    What type of gold is used to secure the Bank of India Gold Loan

    Gold jewellery between 18 and 24 karats can be used. Gold bars or gold coins can be used. The third option here is digital gold. The digital gold has to be exchanged for cash or jewellery first so that your loan would remain secure.


    gold loan

    Bank of India Gold Loan Overdraft Scheme

    Bank of India offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.


    gold loan

    Why should you apply for a Bank of India Gold Loan with Dialabank?

    Here are certain points of why one should apply with Dialabank.

    • Firstly, we are here to listen to you and understand your problem and give you a solution for it. We provide customer services to understand you better and build a relationship with you.
    • Secondly, we would not waste your time. We are here to provide you with everything in easier and faster ways.
    • Thirdly, there are easy disbursals. Contact us so that we can understand you and your needs better and help you in every possible way.

    gold loan

    FAQs About Bank of India Gold Loan

    What is a Bank of India Gold Loan?

    Gold Loan is a loan in which Gold is kept as security with the bank. These loans are provided at competitive rates for any emergency financial requirements to fulfil the monetary needs of the borrower. Bank of India offers a credit of the maximum amount of Rs. 15 lacs for a maximum tenure of 18 months.

    How can I get Gold Loan from the Bank of India?

    Bank of India Gold Loan is a credit service that can be availed to fulfil urgent monetary needs. You can quickly get a gold loan by visiting the branch with your Gold and applying for the same with the loan officer. You can also apply BOI Gold Loan online with Dialabank for convenience and to get personalized assistance.

    How much Gold Loan can I get per gram in the Bank of India?

    Bank of India Gold Loan Rate Per Gram today is ₹ 3,506 to ₹ 4,621. Bank of India Gold Loan Per Gram depends on the purity of your Gold varies depending on the market price prevailing in the market

    How does the Bank of India Gold Loan work?

    Bank of India provides the Gold Loan facility at nominal interest rates starting from 7% per annum.

    What is the Gold Loan Interest Rate in the Bank of India?

    Bank of India Gold Loan Interest Rate today is less as compared to the price of interest in other types of loans as these loans are given on full security and can be recovered in case of default. The Gold Loan Rate of Interest in the Bank of India starts from 7% per annum.

    How to check Gold Loan status in Bank of India?

    Customers can check the status of their loan applications by logging on to the net banking service provided by the bank. However, a gold loan is usually approved and disbursed on the same day.

    How to calculate Gold Loan Interest in Bank of India?

    You can calculate Gold Loan Interest payable on your Gold Loan from Bank of India using Dialabank’s EMI Calculator which accurately tells you the Interest as well as the EMI that will be payable on your loan.

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

    You can get a maximum Gold Loan of Rs. 1 crore from Bank of India if you are able to present the required income documents as demanded by the bank. However, in the case of non-salaried personnel this amount is only limited to Rs. 15 lakhs.

    What is the loan tenure of Bank of India Bank Gold Loan?

    The tenure of your Gold Loan at Bank of India is chosen by you and could be a maximum of 36 months. You can also get a renewal on this tenure for another term.

    How much Processing Fee is applicable to Bank of India Gold Loan?

    Bank of India charges a minimal cost while processing Gold Loan which is usually 1% of the principal loan amount or Rs. 1000 whichever is higher.

    What are the charges for renewal in Bank of India Gold Loan?

    Renewal charges at Bank of India are nil and can be availed if you are regular in paying your due EMIs and have a good relationship with the bank. However, they may charge a valuation fee at the time of renewal as the gold has to be evaluated again at the time of renewal.

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

    Prepayment charges at Bank of India Gold Loan are minimal and vary between 1-2 % of the principal loan amount. In some cases, this amount is waived off and nothing is charged for the prepayment of the loan.

    How to renew Bank of India Gold Loan Online?

    To renew your Gold Loan for another tenure, you will be required to visit the nearest branch with your loan documents and ask your banker for the same.

    How to Pay Bank of India Gold Loan Interest Online?

    Bank of India allows you to make a bullet payment at the end of your Gold Loan tenure via either a Cheque or a Demand Draft.

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

    If someone defaults on the Gold Loan, the bank will charge a penalty fee and may even sell your Gold in a public auction to recover the money.

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

    You can apply for EMI Moratorium on your Gold Loan by visiting the nearest loan branch of the bank and checking your eligibility for it as it is not available to all the loan takers.

    How to pay Bank of India Gold Loan through Credit Card?

    Bank of India gives you many easy and convenient options to pay your Gold Loan quickly but it does not allow you to pay your loan through a credit card.

    What is the Overdraft Scheme for Bank of India Gold Loan?

    Bank of India does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

    What is the Bank of India Gold Loan closure procedure?

    Once the loan is paid, the bank will close your gold loan immediately.

    What is the Bank of India customer care number?

    The customer care number for Bank of India 9878981144.

    What is Bank of India Gold Loan Preclosure charges?

    Bank of India does not charge any preclosure charges.

    What is the maximum gold loan tenure of Bank of India?

    The maximum gold loan tenure of Bank of India is 36 months

    What is the minimum gold loan tenure of Bank of India?

    The minimum gold loan tenure of Bank of India is 3 months.

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