Bank of Baroda Gold Loan Details
Overview
Bank of Baroda offers Gold Loans to help you meet your financial needs by leveraging your gold ornaments. With quick processing, minimal documentation, and flexible repayment options, you can access funds conveniently.
Types of Gold Loans
- Retail Gold Loan: Suitable for personal needs such as weddings, education, or business expansion.
- Agri Gold Loan: Designed for individuals engaged in agriculture and allied activities.
Key Features
- Loan Amount: Up to ₹50 lakh per borrower.
- Maximum Tenure: 12 months; up to 36 months for EMI scheme.
- Interest Rates: Starting from 8.90% per annum.
- Processing Charges: Nil for loans up to ₹3 lakh; 0.25% of the sanctioned limit plus GST for loans above ₹3 lakh (maximum ₹3,500 plus GST).
- Quick Disbursal: Funds credited promptly, often within 15 minutes.
- Minimal Documentation: Simple and hassle-free process.
- No Prepayment Charges: No charges for early repayment.
Eligibility Criteria
- Age: 18 to 70 years.
- Nationality: Indian residents.
- Gold Purity: Gold ornaments with a minimum purity of 18 carats.
Required Documents
- Identity Proof: Passport, Driving Licence, Voter ID, PAN Card, or Aadhaar Card.
- Address Proof: Aadhaar Card, Utility Bills, Ration Card, or Rental Agreement.
- Two recent passport-size photographs.
Application Process
- Visit the nearest Bank of Baroda branch with your gold ornaments.
- Undergo gold valuation by authorized appraisers.
- Submit the required documents along with the completed application form.
- Upon successful verification, the loan amount will be disbursed to your account, typically within 15 minutes.
Contact Information
For more details or to apply for a Gold Loan:
- Visit the nearest Bank of Baroda branch.
- Apply online through the Bank of Baroda website.
- Contact Bank of Baroda Customer Care at 1800 5700 (Toll-free).
