To entrust women’s financial needs and positively support their entrepreneurial skills. We, at Bank of Baroda, provide instant retail gold loans at concessional ROI of up to 0.40% to women. Get safe loans with up to 36 months of payback tenure on EMI.
Retail Gold Loan : Benefits
- Guarantor is not required in Gold Loans.
- Easily convertible into cash.
- Income proof not required.
- Security of your Gold Ornaments /Jewellery/Coins.
- Pricing not linked to CIBIL score.
- Minimal Paperwork and faster processing.
Retail Gold Loan : Features
- Maximum Loan up to Rs. 25.00 lakh per customer.
- No processing charges up to Rs. 3.00 Lakh.
- No pre closure, prepayment charges.
- Maximum tenure from 12 months up to 36 months (EMI scheme).
- Repayment :Monthly/ Quarterly/ Half-Yearly instalment or bullet repayment as per the repayment capacity of the borrower monthly interest as and when charged is required to be serviced
- Gold Loan to min. 18 carat Gold Jewellery/Ornaments.
- Loan to any purpose other than speculation.
Retail Gold Loan : Eligibility
All individuals being true owner of the gold ornaments/jewellery & specially minted Gold coins sold by the Banks (Maximum up to 50 gm per borrower). The applicant must be Indian resident.
Retail Gold Loan : Repayment Mode
Interest on monthly basis. The principal will be repaid by way of bullet payment at any time during the tenure of the loan.
EMI – EMI on monthly basis.
Retail Gold Loan : Interest rates & charges
| Product | Conditions | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|---|
| Retail Gold Loan | Retail – Demand and EMI scheme (Up to Rs. 25.00 lakhs) | BRLLR + SP + 1.00 % | 9.70% |
| Retail – Over draft scheme (Up to Rs. 25.00 lakhs) | BRLLR + SP + 1.10 % | 9.80% |
Processing charges:
| Up to Rs 3.00 lakhs | NIL |
| Above Rs 3.00 lakhs up to Rs 25.00 lakhs | Applicable charges +GST |
Security :
Secured by minimum 18 carat Gold Jewellery / Ornaments.
Pre closure / Pre payment:
Retail Gold Loan : Most Important Terms and Conditions (MITC)
- No Loan will be granted to third party.
- Pledge of jewellery from pawn brokers is prohibited.