The above information is subject to change. For the latest updates, please refer to the official Union Bank of India website or contact your nearest branch.

Interest Rates & Loan Details

• Interest Rates: Starting from 8.75% per annum, varying by scheme.
• Loan Amount:
  • Minimum: ₹10,000
  • Maximum: Up to ₹50 lakh, depending on the scheme.
• Loan Tenure: 6 to 36 months.
• Processing Fee: 0.50% of the loan amount.
• Pre-closure Charges: Nil if closed after 3 months; otherwise, applicable charges.
• Loan-to-Value (LTV) Ratio: Up to 75% of the gold’s market value.

Eligibility Criteria

• Age: 18 years and above.
• Ownership: Must own gold ornaments or 24-carat gold coins (up to 50 grams).

Documents Required

• Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID, or Driver’s License.
• Address Proof: Aadhaar Card, Passport, Voter ID, or Utility Bill.
• Photographs: Recent passport-sized photos.
• Income Proof: Required for high-value loans above ₹5 lakh.

Repayment Options

• Bullet Repayment: Principal and interest payable at the end of the loan term.
• EMI Option: Equated Monthly Installments over the loan tenure.

Key Considerations Before Applying

• Gold Quality: Loan amount depends on gold purity and weight.
• Loan Terms: Carefully review terms before signing.
• Gold Security: Non-repayment may result in gold auction.

Benefits of Bank of India Gold Loan

• Quick Loan Approval: Fast processing and disbursal, often on the same day.
• Low Interest Rates: Attractive rates starting from 8.75% per annum.
• High Loan Value: Loan up to ₹50 lakh based on gold’s market value.
• Flexible Repayment: Options for bullet repayment or EMI.
• No Guarantor Required: The pledged gold itself serves as collateral.

Contact Bank of India

• Customer Care: Please visit the official website for contact details.
• Official Website: Bank of India

Disclaimer: The above information is subject to change. For the latest updates, please refer to the official Bank of India website or contact your nearest branch.