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

Gold is an auspicious asset in Indian households used for different purposes such as religious matters, accessorising oneself, or financing emergency requirements of funds. 

Among diverse financial products, the Bank of Baroda (BOB) allows you to borrow funds to finance such needs. Bank of Baroda offers two gold loan schemes to help its customers meet their personal needs or funds for business. These are Agri-gold loans for farmers and Retail gold loans to individuals.

 Bank of Baroda Gold Loan Highlights

Bank of Baroda (BOB) Gold Loan Interest Rate 2025

The BOB gold loan interest rate 2025 for the different gold schemes is as follows:

Bank of Baroda Gold Loan Rate Per Gram

The gold loan rate per gram for the Bank of Baroda ranges from Rs.4,289 to Rs.4,679. 

Bank of Baroda Agriculture Gold Loan Interest Rate

The Bank of Baroda's gold loan interest rate for agriculture and farmers starts from 8.70%. 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 Now’ button.

Step 4: Login or Sign Up to the BOB website.

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

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.
• 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 Rs. 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 12 months of availing the loan. 

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 Rs. 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= Rs. 458

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