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Bank of Maharashtra Gold Loan Highlights |
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| Interest Rate | 9.30% p.a. onwards |
| Loan Amount | Rs 20,000- Rs 25 lakh |
| LTV Ratio | Up to 75% of gold’s market value |
| Tenure | Term Loan EMI based- Up to 2 years
Term Loan Bullet Repayment- Up to 1 year Cash Credit- Repaid once a year |
| Collateral | Pledge of gold jewellery/ornaments |
| Processing Fees | NIL |
Rates as of 7th November 2024
Bank of Maharashtra Gold Loan Interest Rates
Bank of Maharashtra Gold Loan interest rates start from 9.30% p.a. onwards. The lender offers differential gold loan interest rates based on the category of gold loans offered to the applicants.
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Bank of Maharashtra Maha Gold Loan
Purpose: Maha Gold Loan is a term loan or cash credit facility offered to applicants to raise funds for various purposes, except speculation.
Loan Amount: Rs 20,000 to Rs 25 lakh
Tenure:
Term Loan Facility –
- EMI based- Up to 2 years
- Bullet Repayment- Up to 1 year
Cash Credit Facility – To be repaid once a year
Eligibility Criteria for Bank of Maharashtra Gold Loan
Bank of Maharashtra offers gold loan to all individuals including its staff against gold jewellery or gold ornaments owned by the applicant. The lender does not consider the CIBIL score or any other credit score while evaluating the gold loan eligibility of its applicants.
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Bank of Maharashtra Gold Loan Documents
- Two passport sized photographs
- Identity Proof- PAN card, Aadhaar card, Voter ID, passport, photo ID card issued by the current employer
- Address Proof- Aadhaar card, telephone bill, electricity bill, voter ID, driving license, passport