Bank of Baroda Gold Loan

Gold Loan at 1%* p.m.

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Sometimes we are in a financial crisis, and we run around the world finding for assistance and help, But we forget that the real help or support is in our home inside our locker and we can get a Gold loan by it, that can solve all our problems. Bank of Baroda Gold loan is available at very fewer interest rates in many banks. So many nonbanking financial companies also provide you with a Gold Loan, and very less paperwork is required to complete these formalities.

Advantages of  Bank of Baroda Gold Loan

Bank of Baroda provides the gold loan to the customers. Though Bank of Baroda is a very reliable and trustworthy financial organization in India, it is not only Bank of Baroda that provides gold loan there are so many other banks that are prone to give this facility then why do people choose Bank of Baroda Gold Loan.

The bank is well reputed. The bank is awarded by RBI for its good services. Gold loan interest rates in Bank of Baroda are very low. Bank takes care of all the needs of the customers. Time for the disbursal is very small. Very less documentation is required to apply for the loan.

Bank of Baroda Gold Loan Interest Rates

Interest rates offered by the bank to the customers are comparatively very low i.e. 10.20% per annum.

I year MCLR+strategic premium+3%

Processing fees –  0.50% of the loan amount+ GST.

Loan- amount – 25000 to 10 lakhs

Eligibility criteria for Bank of Baroda Gold Loan

There are some conditions that the applicant should fulfill to get a gold loan. These are written below

Age of the applicant should be more than 18 years and less than 65 years. 

Permanent citizen of India can get a gold loan.

She/he should have some rigid source of income so that he can give an interest rate to the bank. Applicant should have gold in the form of coins/ jewelry/bricks. The purity of gold can be 18 karats to 24 karats.

Documents Required

The process of documentation is very easy and simple. Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents so there is no problem with the submission.

2 passport size photos, a passport is needed because a passport has a name, age, address and photograph of the customer. If you are having a passport then there is no need to bring your address proof separately. But the passport should not be expired.

Residence proof can be aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.

Driving license is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer. 

Aadhar card provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.

PAN card is the permanent account number that is provided to the customers and it prevents from the financial frauds. So it can be an identity/residence proof. Pan card is very essential document under KYC (know your customer) formality.

Ration card can be a residence proof because it provides enough information about the applicant.

A signature proof is also required for the gold loan.

What are the features of Gold Loan

Transparent System: Firstly, the system of the gold loan is very clear therefore, there are no hidden norms

No Debt Burden: Next, There can be situations in which an applicant is not able to repay the loan amount in such a case the applicant will not be under debts as the bank will only confiscate the ornaments.

CIBIL Score: Moreover, the banks are not concerned about the Credit Score of a person. People with Weak CIBIL Score can also apply for a Gold Loa.

Low Rate of Interest: Major advantage, the applicant will have to pay the least interest rate in comparison to other loans.

Advantage on the rate of interest for Farmers: As a matter of fact, The farmers are given a rebate on the interest rate on availing this service.

No Income bounds: There are no restrictions on the salary or income of the applicant hence, anyone with any income rage can avail a gold loan.

Security of Assets: One of the major advantage, the applicant does not has to worry about the safety of the ornaments as it is the headache of the bank and not the owner.

Fast Process:  This is a  secured loan therefore, you can get your gold loan disbursed in just 30 minutes

Minimal Documents: Lastly, the applicant has to submit very fewer documents to avail a gold loan which makes it a hassle-free service.

About Bank of Baroda

Bank of Baroda is a public sector bank and it is an international bank of India. The bank is serving the people since 1908. Bank provides so many financial services to people like a gold loan, personal loan, car loan and banking too. Since everybody needs money to start their personal needs or to start a new business.

How to Apply on lendingwale.com

Steps to apply

Search for lendingwale.com on google

A form will open up.

Fill the form with the required information.

Our Relationship Manager will assist you as soon as possible and help you get your Gold Loan.




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