Bank of India offers gold loans starting from 8.80% p.a. onwards, with loan amounts available up to Rs 50 lakh. These loans cater to various needs, including business-related activities, agriculture-related activities, or personal financing. Applicants can avail the loan by pledging their gold jewelry or coins as collateral.
| Bank of India Gold Loan Highlights | |
|---|---|
| Interest Rate | 8.80% p.a. onwards |
| Processing Fees |
|
| Collateral | Pledge of gold jewellery or coin |
| LTV Ratio | Up to 85% of gold value |
| Loan Amount | Up to Rs 50 lakh |
Bank of India Gold Loan interest rates start from 8.80% p.a. onwards. The lender offers differential gold loan interest rates based on the type of gold loan scheme offered by Bank of India.
| Products | Interest Rates (p.a.) |
|---|---|
| Gold Loan and Overdraft for MSME and OPS | 9.25% |
| Gold Loan and Overdraft for Food and Agro | 9.25% |
| Gold Loan for Consumption/Non-Priority Sector | 8.80% |
| Gold Loan and Overdraft for Agriculture | 8.80% |
Also read: Best Gold Loan Interest Rate
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
Bank of India offers gold loans to its applicants for various types of agriculture-related activities, personal requirements, or business-related activities. Individuals can avail gold loans pledged against gold jewellery or gold coins.
Individuals can avail a gold loan from Bank of India by pledging their gold jewellery or gold coins as collateral.
Bank of India offers Gold Loan for MSME, retail, agricultural, and personal purposes, with loan amounts of up to Rs 50 lakh.
The lender offers Bank of India Gold Loan for up to 85% of the gold's value.
Also read: Best Gold Loan EMI Calculator
| Loan Amount | Charges |
|---|---|
| Above Rs 5 lakh | Rs 125 per lakh; Max Rs 1,000 |
| Above Rs 1 lakh to Rs 5 lakh | Rs 125 per lakh; Max Rs 250 |
| Up to Rs 1 lakh | NIL |
To be eligible for a gold loan from Bank of India, applicants must meet certain criteria:
Also read: Best Gold Loan Eligibility
Below are the documents required by Bank of India for availing a Gold Loan:
Also Read : Best Gold Loan Documents Required
Bank of India offers gold loans at competitive interest rates starting from as low as 8.80% per annum. Please note that these rates are subject to change, and it's recommended to visit BOI's official website for the most updated gold loan interest rates.
To calculate the interest payable on a gold loan from Bank of India, you can use the simple interest formula: Interest Payable = (Principal Amount × Interest Rate × Loan Tenure) / 100. Where: (i) Principal Amount is the initial amount of the loan. (ii) Interest Rate is the annual interest rate charged on the loan. (iii) Loan Tenure is the duration for which the loan is availed, usually in years.
To check your gold loan balance in Bank of India, you have two options: 1. Visit the nearest branch and inquire with the bank officials about your loan balance. 2. Log in to your BOI net banking portal and access your loan details online.
To check your gold loan status in BOI, you have several options: 1. Give a missed call to the BOI gold loan contact number at 8010968370. 2. Send an SMS with the text 'GOLD' to 7669021290. 3. Contact their customer care support at 1800 103 1906. 4. Visit the branch where you applied for the loan and inquire with the bank officials. They will provide you with the necessary information regarding your loan status.