Bank of Baroda (BOB) Gold Loan Interest Rate 2025: Processing Fee, Documents Required, Eligibility, How to Apply

Bank of Baroda offers two gold loan schemes to help its customers to meet their personal needs or funds for business. The two gold schemes are Agri-gold loans for farmers and Retail gold loans to individuals. The Bank of Baroda gold loan interest rate and terms varies as per the choosen scheme.

 Bank of Baroda Gold Loan Highlights

Bank of Baroda (BOB) Gold Loan Interest Rate 2025

The Bank of Baroda gold loan interest rate 2025 for the different gold schemes is as follows:

The gold loan rate per gram for the Bank of Baroda is based on the market value of gold and the purity of the pledged jewellery, with a Loan-to-Value (LTV) ratio of up to 75% for general customers. Usuallu, it ranges from ₹2,760 to ₹3,180. 

Bank of Baroda Agriculture Gold Loan Interest Rate

The Bank of Baroda's gold loan interest rate for agriculture and farmers starts from 8.80%. This rate is subject to changes as per MCLR. 

Bank of Baroda Gold Loan Procedure

You are required to fill out an application form and present your gold items to avail of a BOB gold loan, which is similar to other secured loan application processes. Below are the steps to apply for the Bank of Baroda gold loan procedure:

 Step 1: Visit the official website of the Bank of Baroda.

Step 2: Click on the ‘Loans’ tab and then on the ‘Agri Gold Loan’ or ‘Retail Gold Loan’ options under the ‘Gold Loan’ heading.

Step 3: On the next page, click on the ‘Apply Online’ button.

Step 4: Login or sign up to the BOB website.

Step 5: Fill out the required details and submit the application.

Step 6: Bank of Baroda representatives will contact you once you submit your application. 

You can also go to your nearest Bank of Baroda branch with your gold ornaments and relevant documents to apply for a gold loan. 

Bank of Baroda Gold Loan Eligibility Criteria

You must fulfil the following eligibility criteria to avail of a gold loan from the Bank of Baroda: 

• You must be an Indian citizen above 18 years.
• You should be a true owner of gold jewels, ornaments and minted coins by banks. Every borrower can avail of a loan for a maximum of 50 gms of gold. 

Documents Required For Bank of Baroda Gold Loan

You must present the following documents to apply for Bank of Baroda gold loans: 

• Proof of identification: PAN, Voter ID, Aadhaar card, driver’s licence, etc 
• A recently clicked passport-sized photo. 
• Proof of residence: Recent utility bills, passport, ration card, Aadhaar card or passport.

Bank of Baroda Gold Loan Processing Fee

The processing charges applicable for the Bank of Baroda gold loan are listed in the table below:

Bank of Baroda Gold Loan Appraiser Charges

Appraiser charges against gold loans are the payments done to lenders for analysing the worth of pledged gold. It is important to understand that the appraiser charges for the Bank of Baroda gold loan might vary among individuals based on their holdings. 

Bank of Baroda Gold Loan Maximum Limit

The Bank of Baroda gold loan maximum limit is ₹50 lakh. 

How to Close Gold Loan in Bank of Baroda?

You must clear your loan EMIs to close the loan in the Bank of Baroda within the loan tenure. 

How to Calculate Gold Loan Interest in Bank of Baroda?

You can calculate gold loan interest and EMI with the Bank of Baroda manually with the formula below:

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 

P= Loan amount

R= rate of interest per month

N= EMI payments throughout the tenure

Let's consider a simple example to understand the calculation of Bank of Baroda's interest. 

Rajesh avails a gold loan from Bank of Baroda of ₹50,000 at 11% per annum for 1 year. Let’s find out what his EMI and payable interest will be. 

To find out the payable interest and the EMI, let’s place the values as per the formula above. 

EMI= [50000 x 0.009 x (1+0.009)^12]/[(1+0.009)^12-1]

EMI= ₹458

According to this calculation, Rajesh’s payable interest at the end of the tenure is ₹5496.

Bank of Baroda Gold Loan Interest Rate Calculator

The manual calculation can be time-consuming and might not provide accurate results. You can opt for a gold loan calculator available online to avoid such cases. 

Bank of Baroda Gold Loan Interest Rate calculator is a free online tool that can instantly display your monthly EMI and total payable interest. 

Bank of Baroda vs Other Banks' Gold Loan Interest Rates

Bank of Baroda Gold Loan Contact Number

You can contact the Bank of Baroda representatives to resolve any queries regarding the Bank of Baroda Gold loan by calling their toll-free number: 1800 5700. 

Now that you know everything about Bank of Baroda's gold loan interest rates, you can avail of a loan against your gold items from the bank. However, before opting for a gold loan, ensure that you possess all the necessary documents to prove the authenticity of your gold assets. Also, consider calculating your EMI beforehand for a clear idea of a loan amount that suits your finances. 

Other Banks Gold Loan Interest Rates:
1. ICICI Bank Gold Loan Interest Rate
2. HDFC Gold Loan Interest Rate 
3. Canara Bank Gold Loan Interest Rate 
4. SBI Gold Loan Interest Rate 
5. Canara Bank Gold Loan Interest Rate
6. Indian Overseas Bank (IOB) Gold Loan Interest Rate