Interest Rate & Loan Details
- Interest Rate: Attractive rates as per bank norms. For the latest rates, please contact your nearest branch or visit the official website.
- Loan Amount: Up to 85% of the gold's value.
- Processing Fee: Nominal processing charges apply.
- Loan Tenure: Flexible repayment terms as per bank's guidelines.
Eligibility Criteria for Bank of India Gold Loan
To qualify for a Bank of India Gold Loan, you must meet the following criteria:
- Age: Minimum 18 years.
- Gold Ownership: Ownership of gold ornaments or jewelry.
- Residency: Must be an Indian resident.
Documents Required
Key documents required to apply for a Bank of India Gold Loan:
- Identity Proof: Aadhaar Card, Voter ID, Passport, or Driving License.
- Address Proof: Utility Bill, Bank Statement, or Passport.
- Proof of Ownership: Proof of ownership of the gold ornaments.
Loan Amount & Security
Loan Amount: Up to 85% of the gold's value.
Security: Pledge of gold ornaments or jewelry.
Repayment Options
Bank of India offers the following repayment options:
- Bullet Repayment: Repay the principal and interest at the end of the loan tenure.
- EMI Based Repayment: Monthly installments comprising principal and interest.
- Overdraft Facility: Available as per bank's discretion.
Charges & Fees
- Processing Fee: Nominal charges apply.
- Prepayment Charges: No pre-closure charges.
Key Considerations Before Applying
Before applying for a Bank of India Gold Loan, keep the following points in mind:
- Gold Quality: Gold pledged must meet the bank's purity standards.
- Loan Agreement: Carefully read the loan terms and conditions before signing.
- Gold Security: Understand that pledged gold may be forfeited in case of non-repayment.
Contact Bank of India
If you have any questions or wish to apply for a gold loan, contact Bank of India:
- Customer Care: 1800 103 1906 (toll-free) or 1800 220 229 (toll-free)
- Official Website: Bank of India Gold Loan
Disclaimer: The information provided above is based on publicly available data and is subject to change at the bank’s discretion. For the most current details, please visit the official Bank of India website or contact the nearest Bank of India branch.
