Bank of Maharashtra Gold Loan Documents Required

GOLD LOAN @ 0.57%*
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⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.57% p.m.

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    Bank of Maharashtra Gold Loan Documents Required

    Features of Bank of Maharashtra Gold Loan 

    Bank of Maharashtra Gold Loan Documents Required

    Clients’ credit demands are growing by the day, therefore gold loans are a realistic and worthwhile option during any unpredictable world, such as hospitalisation or farming reasons, by using gold ornaments as protection to get the greatest sum from the lenders. Gold loans are a shortcut way of attaining credits so if the individual is having a perfect profile they can attain it with a blink of an eye. For more information, visit the dialabank website to connect and avail other services.

    The following are some characteristics of a gold loan:

    • They are issued promptly, especially during crises.
    • Get credit amounts quickly without having to visit a bank by using a digital gateway for gold loans.
    • Individuals can borrow amounts ranging from Rs 10,000 to Rs 25 lakhs at different interest rates.

    Bank of Maharashtra Gold Loan Comparison with Banks

    Bank / NBFC Rate Per Gram Interest Rate Gold Loan Tenure Min – Max Loan Amount
    ₹ 3,506 to ₹ 4,621 0.099 3 to 24 months ₹ 10 thousand to 5 crore
    ICICI Gold Loan ₹ 3,506 to ₹ 4,621 0.1 6 to 12 months ₹ 10 thousand to 5 crore
    ₹ 3,506 to ₹ 4,621 0.12 7 days to 36 months ₹ 3 thousand to 1 crore
    ₹ 3,506 to ₹ 4,621 0.1225 12 months ₹ 3 thousand to 1 crore
    ₹ 3,506 to ₹ 4,621 0.1025 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1 3 to 36 months ₹ 10 thousand to 5 crore
    SBI Gold Loan ₹ 3,506 to ₹ 4,621 0.0975 12 to 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.075 3 to 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 10 thousand to 5 crore
    IIFL Gold Loan ₹ 3,506 to ₹ 4,621 0.12 11 months ₹ 3 thousand to 50 lakh

    Bank of Maharashtra Gold Loan EMI Calculator

    Utilise our loan calculator to see how much you’re qualified for based on the jewellery/ gold you own. However, determining an exact amount based on your pocket is tedious and time-consuming. As a result, we’ve built a system that can assist clients with calculating the sum. Clients may use our calculators to determine the exact rate of interest and the duration of the loan.

    Bank of Maharashtra Gold Loan Documents Required

    At the time of application the following documents are required:

    • Proof of the citizenship of India
    • Duly filled application form
    • 2 passport-sized photographs
    • Applicant’s KYC documents to establish Identity and Address
    • Salary/ Income Proof
    • Witness Letter in case of illiterate borrowers
    • In the case of Agriculture Loan of more than Rs. 1 lac, land proof
    • Certificate by the Jewel Appraiser (Bank will arrange)

    At the time of disbursement the following documents are required:

    • Demand Promissory Note & Demand Promissory Note Take Delivery Letter
    • Gold Ornaments Take Delivery Letter
    • Arrangement Letter

    Bank of Maharashtra Gold Loan Documents Required – FAQs

    Is it possible to foreclose on my loan account or close it before the end of the tenor? What accusations would be brought in such a case?

    Absolutely, clients can foreclose their account and pay back the debt before the tenure expires, releasing the gold from the bank. If you pay off your loan before the three-month period, you’ll be charged a modest termination fee ranging from Rs. 0-150. After three months, there are no cancellation fees.

    ✅ What are the extra expenses I’ll have to spend when I apply for a loan?

    Each gold loan is subject to a small processing charge. The hidden fees imposed by each bank differ, although it rarely transcends 2% of the loan amount. A gold verification cost is charged besides the service charge, which will be borne by the lender.

    ✅ Is it possible for me to pay back the loan in instalments?

    The loan can indeed be returned in instalments. The pledged gold will not be returned until the whole loan sum has been reimbursed.