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    We found 1 Bank of Baroda (BOB) Gold Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.35% - 16.35% Floating
    1,000 to ₹10,000 One time fee
    1L - 10L
    4 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Bank of Baroda (BOB) Gold Loan is Rated as "Great!" by 12 Users

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    Overview of Bank of Baroda (BOB) Gold Loan

    Bank of Baroda Gold Loan is a multipurpose loan product that will offer a financial advantage to people who own gold in form of ornaments, coins or jewellery. Borrowers can get loan against gold and they can use the loan amount to meet personal and business credit requirements. Bank of Baroda Gold Loan is also offered as an optimized variant to traders at competitive interest rates.

    Types of Bank of Baroda Gold Loan

    Bank of Baroda offers two types of gold loan - for traders and for individuals. The variants of Bank of Baroda Gold Loan are as follows.

    • Bank of Baroda - Advance against Gold Ornaments / Jewellery / Coins

      All individuals who own gold in the form of ornaments, coins or jewellery can apply for this loan. A maximum of Rs. 10 lakh will be offered under this scheme which can be used for personal monetary needs.

    • Bank of Baroda - Traders Loan Against the Security of Gold Ornaments / Jewellery

      This type of gold loan is offered exclusively to all sections of traders including partnership firms, proprietorship firms, individuals and joint borrowers who hold a license. A maximum of Rs. 2 lakhs will be offered under this scheme which can be used business related expenses.

    Features and Benefits of Bank of Baroda Gold Loan

    Given below are some of the important features and benefits of Bank of Baroda Gold Loan.

    • Bank of Baroda Gold Loan is a multi-purpose credit product. This loan can be used for personal and business requirements.
    • Traders can make use of Bank of Baroda Traders’ Gold Loan which will offer them the required funds at a competitive interest rate.
    • Borrowers can pledge their gold ornaments, jewellery and gold coins as security for Bank of Baroda Gold Loan.
    • Bank of Baroda Gold Loan offers high loan quantum at convenient repayment tenure options.
    • Here are some of the important points to note about Bank of Baroda Gold Loan.
    Scheme / Feature BoB Gold Loan - General BoB Trader’s Gold Loan
    Maximum Limit Rs. 10 lakhs Rs. 2 lakhs
    Minimum Limit Rs. 0.25 lakhs Rs. 0.5 lakhs
    Repayment Tenure Maximum 36 months Maximum 60 months in case of loans and maximum 12 months in case of overdraft facility (subject to annual review)
    Processing Charges 0.50% of the loan amount, plus GST 0.5% of the loan amount, minimum of Rs. 250 plus GST
    Margin Advance against gold ornaments, gold coins and jewellery will be 25% for loans up to Rs. 3 lakhs and 35% for credit facilities over Rs. 3 lakhs. Advance against gold ornaments, gold coins and jewellery will be 25% for loans up to Rs. 2 lakhs.

    Bank of Baroda Gold Loan Interest Rates

    The rate of interest for Bank of Baroda Gold Loans are as given below.

    Gold Loan Scheme Rate of Interest
    Bank of Baroda traders loan against security of gold One year MCLR + Strategic Premium + 2 per cent
    Advance against security of gold One year MCLR + Strategic Premium + 3 per cent

    Eligibility for Bank of Baroda Gold Loan

    The eligibility criteria for Bank of Baroda Gold Loan schemes are described below.

    Gold Loan Scheme Eligibility Criteria
    Bank of Baroda - Advance against security of gold All individuals who comply with KYC norms and are owners of gold can apply for Baroda advance against gold ornaments.
    Bank of Baroda traders loan against security of gold All individuals, proprietorship firms, joint borrowers and partnership firms who are engaged in trading and owns a valid license (for all applicable cases) can apply for Baroda trader’s loan against security of gold.

    Documentation Required for Bank of Baroda Gold Loan

    A customer has to submit the following documents to apply for a Bank of Baroda Gold Loan.

    • Recent passport size photographs
    • Completely filled Application form
    • Identity Proof - any one of the documents like PAN card, passport, voter ID, driving license or Aadhaar card.
    • Residence Proof - any one of the documents like ration card, passport, recent utility bills or Aadhaar card.

    Bank of Baroda Gold Loan FAQs

    1. What is the nature of credit offered under Bank of Baroda Gold Loan?

      Bank of Baroda Gold Loan is a term / demand loan. However, the nature of Bank of Baroda Traders’ loan is overdraft / loan.

    2. For what purposes can I use Bank of Baroda Traders’ Gold loan?

      You can use the loan to meet the working capital requirements and for purchase of machinery & equipment for development of your business.

    3. Will I have to pay a processing fee for Bank of Baroda Gold Loan?

      Yes, you will have to pay a nominal charge of 0.5% of loan amount as processing fee.

    4. For what purposes can I use Bank of Baroda Gold Loan?

      You can use the loan amount for all general purposes like education, travel, house repair, hospitalization etc. However, you cannot use it for speculative purposes like investment in a risky avenue.

    5. What is the maximum repayment tenure for Bank of Baroda Gold loan?

      The borrower can take up to 36 months to repay Bank of Baroda Gold Loan.

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  • Bank of Baroda (BOB) Gold Loan Reviews

    • Bank of Baroda Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have got personal loan from Bank of Baroda within 2 to 3 days of time. The additional charges are nominal with Bank Of Baroda. The rate of interest was average as per the market rate. The customer service was also very helpful in regards to my personal loan process. I am satisfied with the loan amount.
      Was this review helpful? 0
      , rohtak
      Reviewed on Aug 21, 2017
    • Bank of Baroda Personal Loan
      "BOB considers only Government employees for personal loan"
      0.5 1.0/5 "Really Bad"
      Though I am a long term customer of Bank of Baroda, they were not willing to give me a personal loan. I am having savings account for quite long time and I do much transactions with them. In spite of having savings account with SBI, I prefer BOB for all my transactions. But BoB considers only the government employee for personal loan, which is really a disappointment.
      Was this review helpful? 4
      , bhopal
      Reviewed on Mar 10, 2017
    • Bank of Baroda Personal Loan
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      Within one day my personal loan was disbursed by bank of baroda as i have account with them i just visited the branch once and on the same day the approval was given. Interest rate charged 13.5 %. Partial payment and pre payment van be done without any charges. BOB has the fast process.
      Was this review helpful? 7
      , jaipur
      Reviewed on Dec 09, 2015
    • Bank of Baroda Personal Loan
      "Satisfied!"
      0.5 3.0/5 "Satisfactory"
      I got my personal loan amount disbursed within 10 days of application. Since I am holding a savings account with Bank Of Baroda, they collected only minimal documents for the application. The interest rate and processing fees is normal when compared to other banks.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Aug 29, 2015
    • Bank of Baroda Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      I hold saving account in Bank of Broda, basis on my existing relationship I applied for personal loan. I was offered loan at 11.5% interest rate. The executive came to my house within 2 hours to collect my documents. My loan was processed in 10 days.Excellent service provided from the bank.
      Was this review helpful? 4
      , vadodara
      Reviewed on Aug 10, 2015
    • Bank of Baroda Personal Loan
      "BANK OF BARODAPersonal Loan"
      0.5 4.5/5 "Excellent!"
      I am being with BOB for a quiet long time it is very friendly. They maintain good communication. Interest rate is quiet low while comparing to other banks. Even though the interest rate is high they did not keep up their words on interest so bit dissatisfied on it. Base Rate + 4.50%
      Was this review helpful? 6
      , surat
      Reviewed on May 15, 2015
    • Bank of Baroda Personal Loan
      "Bank of baroda personal loan"
      0.5 3.0/5 "Satisfactory"
      I am being with BOB for a quiet long time it is very friendly. They maintain good communication. Interest rate is quiet low while comparing to other banks. Even though the interest rate is high they did not keep up their words on interest so bit dissatisfied on it. Base Rate + 4.50%
      Was this review helpful? 5
      , secunderabad
      Reviewed on Feb 03, 2015
    • Bank of Baroda Personal Loan
      "awesome facility"
      0.5 5.0/5 "Blown Away!"
      BOB The loan amount ranges from 20,000 to 2 lacs. While the lower limit is good enough to cover people requiring small ticket personal loan, the upper limit is too low to attract people who seek higher amounts.The processing fees are 2% of the loan amount which is as per market standards. There are no prepayment charges which are a big plus for borrowers looking to pay off the loan ahead of schedule.is a public sector bank. The bank was established in 1908 and was nationalized in 1969.
      Was this review helpful? 7
      , mumbai
      Reviewed on Jan 07, 2015
    • Bank of Baroda Personal Loan
      "Best Service of Personal Loan by Bank of Baroda "
      0.5 3.5/5 "Pretty good"
      BOB The loan amount ranges from 20,000 to 2 lacs. While the lower limit is good enough to cover people requiring small ticket personal loan, the upper limit is too low to attract people who seek higher amounts.The processing fees are 2% of the loan amount which is as per market standards. There are no prepayment charges which are a big plus for borrowers looking to pay off the loan ahead of schedule.is a public sector bank. The bank was established in 1908 and was nationalized in 1969. It is one of the few nationalized banks to pursue an aggressive marketing strategy.Overall service was good.I don't have any account but even though I got a good response from them.
      Was this review helpful? 11
      , mumbai
      Reviewed on Oct 29, 2014
    • Bank of Baroda Personal Loan
      "Banking relationship with this bank is good"
      0.5 4.5/5 "Excellent!"
      It is a nationalized bank, whatever they are providing its per the government norms. If I am in need of money in urgent basis, they help me and give it immediately. Interest rate is 9.25% and I would do the deposit in branch. I have a good personal relation with this bank, even the customer service gives me personally.
      Was this review helpful? 5
      , mumbai
      Reviewed on Sep 16, 2014
    • Bank of Baroda Personal Loan
      "Consideration of EMI date would be helpful"
      0.5 3.0/5 "Satisfactory"
      I had taken the loan before 5 years and at that point of time, there were no processing fees. Interest rate is as per the market. Its quite good and no issues at all. Regarding interest rate, the charges , i feel happy. Customer service way of approach is not bad as once my queries were resolved in bit long time. Initially, i requested to deduct the installment of 10th and later was changed as per their bank system. Its better if they can provide the installment date as per the convenient of customers. Even ECS payment options is not available.
      Was this review helpful? 7
      , udaipur
      Reviewed on Jul 23, 2014
    • Bank of Baroda Personal Loan
      "Overall services are fine and good"
      0.5 5.0/5 "Blown Away!"
      The Bank of Baroda bank services are quite OK as it is nationalized bank. Net banking is too good and faster. Branch services are quite OK and executives are doing a good job. I can find number of ATM's and their overall services are fine and good.
      Was this review helpful? 7
      , chennai
      Reviewed on Jul 14, 2014
    • Bank of Baroda Personal Loan
      "Lead banker of my company"
      0.5 3.0/5 "Satisfactory"
      Four months ago I received a personal loan from Bank of Baroda. Everything such as documentation and the loan process are the same however the guarantor details are mandatory to get a loan. Rate of interest is variable but quite affordable. Bank of Baroda is one of lead banker of my company and I am holding a salary account for a while.
      Was this review helpful? 13
      , vadodara
      Reviewed on May 17, 2014
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