Bank of India Gold Loan Interest Rates

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Bank of India gold loan interest rate is as applicable as per the bank’s discretion at the time of evaluating gold asset for collateral and your repayment capacity. A jewellery loan can be used to meet financial needs of business and personal purposes. Some use it for medical emergencies, travel, education, home repair, and big-ticket purchase. Others utilize the funds for wedding, debt consolidation, and other purposes.

At Loanbaba, you will find all the details about Bank of India gold loan rate and jewel loan schemes.

Bank of India (BOI) Gold Loan Details

Loan Amount

Up to Rs. 15 lakhs

Interest Rate

As per bank’s discretion


Up to 18 months

Processing Fee

Up to 2% of the loan amount

Bank of India Gold Loan Interest Rates Information updated on

Bank of India Gold Loan Interest Rate is set as per income profile and repayment capacity of the loan applicant. But the most important factor to decide the rate of interest is gold weight and purity. Keep a check on this page or of BOI’s official website to know the latest rates applicable.

Bank of India Gold Loan Interest Rates

Below-mentioned are features of BOI loan against gold.

Purpose of loan

Meet the financial requirement of the farmers for there both farm and non-farm needs.

Eligibility criteria

You should be a local resident farmer and an account holder of the branch will be given a preference of getting a better rates and loan amount.

Amount to be availed

You can avail up to Rs. 15 lakhs. The actual amount depends on the pledged jewellery’s weight and purity.

Security requirements

You have to provide gold ornaments or coins in order to avail loans from the branch. This gold should belong to the farmer seeking the loan.


40% of gold’s current market value is considered as margin on the basis of card limit as per date of finance.

Rate of interest

Bank of India jewel loan interest rate may vary as the bank may change it time to time. The ROI applies to the loans opted for agricultural purposes.

Repayment period

18 months maximum.

Documents required

Copies of the land records with the latest information.

Bank of India Gold Loan Interest Rate Calculator

Bank of India gold loan interest rate calculator determines the rate of interest based on your repayment capacity, loan amount taken, tenure, gold weight and purity. Longer the tenure, higher will be interest payout and vice-versa. Similarly, a lower rate of interest may apply on higher quantum than lower one. You must study the Bank of India gold loan eligibility criteria to understand if you can avail a loan at the desired rate of interest from the financial institution or not.

Documents Required for Bank of India Gold Loan

Following are the documents needed to apply for BOI jewel loan.

  • Any of the identity proofs mentioned: PAN Card, Passport, Driving License, Aadhar Card, Voter’s ID card, etc.
  • Any of the address proofs mentioned: Aadhar Card, Bank Statement, Rent Agreement, Voter’s ID card, Utility Bills, etc

How to Apply for Bank of India Gold Loan?

If you want to apply for gold loan BOI, then follow the below-mentioned process.

  • Offline Procedure: You can look up for the nearest bank branch to a pay a visit. Understand all about the loan against gold schemes and select the ones best suitable. Ask the executive about the application process and fill out the loan application form. You will have to paste your recent passport-sized photograph and attach hard-copy of required documents.

    Simultaneously, the gold asset will be weighed and evaluated in terms of purity. Based on the details a loan amount will be sanctioned and an ideal tenure and rate of interest as well. On final agreement, the funds will be disbursed to you.

  • Online Procedure: To apply online, you will have to visit the official website of BOI. Find the gold loan application form there and fill it out. You have to keep a soft-copy of every document needed ready for an upload. All the verification about personal information can be done online but for gold valuation, you may have to visit the bank’s premises with the gold jewellery.
  • Disbursal Procedure: After loan application approval given gold valuation and documentation process, the loan will be disbursed by the bank to your bank account. It usually takes just a few hours to disburse a jewel loan, but at times it may take up to a day (working hours) for the same.

Apply for Gold Loan

Frequently Asked Questions about Bank of India Gold Loans Interest Rates

Below-given are FAQs on Bank of India gold loans interest rates in India.

Below-given is information about the target group for the loan plan.

Target Group

Indian Women (Residents) – Both working and non-working women can apply for the loan.

The working women should be permanent employees of central or state government. They can also be employees in the PSUs, government schools or any other govt aided institutions. However, women professionals like Doctors, chartered accountants, engineers can also apply

If the woman is a non-working, then she should be able to show the income proof of her spouse or a relative who becomes the co-borrower of the loan.

Below-mentioned are details about BOI Star Mahila jewel loan scheme.


This loan is generally opted for the purchase of Gold ornaments or coins. These should be hallmarked and bought from reputed Jewellers.

Age Criteria

18 years to 60 years.

Rating Exercise

The applicant, to be eligible for the scheme, should have at least 20 marks in the banks rating exercise.

Advance Type

Term Loan/Demand

Advance value

The loan amount is 10 times the monthly salary you or your spouse earns. In case of a professional, the advance value is 50% of the gross annual income per year as per the latest ITR. The amount may range from Rs. 50,000 to Rs. 2 lakhs.

Below-provided are details about BOI interest rate and penal charges for loan against gold.


The margin stays at 20% of the gold or jewellery value.

Rate of Interest (Floating)

3 % over the Base Rate

Penal Interest

It is applicable as per the guidelines that prevail at that point in time. Thus, they may differ at different times.

Below-mentioned are details about BOI jewel loan for women.

Repayment Criteria

You need to repay within 60 EMIs.

The entire amount needs to be repaid before you become 65 years old.

The repayment shall be done in the form of salary deduction or by signing post-dated cheques.

Net Take Home, EMI

It is at least 50% of the gross income of your and your spouse.


If you avail a loan of more than Rs. 50,000, you need to provide liquid securities like the insurance policy (at surrender value), NSC, KVP, etc. only for the amount that exceeds Rs. 50,000


It can be made through Pay Order or DD favouring the seller. Mention the Bank name and your account number. You need to submit the invoice or the stamped receipt of the jewellery cost. The total value should include the loan amount and the margin. You need to have performa invoice if the loan value is over Rs. 1 lakh.

Listed below are charges and fees for the loan.

Processing Fee

2% of loan amount. Ranges between Rs. 500 to Rs. 2000

Other Charges

You may have to pay stamp charges for documents.

Loan Agreement copy charges may also apply.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Bank of India.