Interest Rate & Loan Details

• Interest Rate: Starts from 8.30 percent per annum, subject to change
• Loan Amount:
  • Minimum: 20,000
  • Maximum: 100 lakh
• Loan Tenure: Up to 24 months for regular; up to 12 months for bullet repayment
• Processing Charges:
  • Up to 3 lakh: Nil
  • 3 to 5 lakh: 500
  • 5 to 10 lakh: 1,000
  • 10 to 20 lakh: 1,500
  • Above 20 lakh: 2,000
• Prepayment Penalty: None
• Loan-to-Value Ratio: Maintained at 75 percent

Purpose of Gold Loan

• Personal needs
• Education and weddings
• Medical emergencies
• Business and working capital
• Agricultural expenses

Eligibility Criteria

• Age: 18 years and above
• Gold jewellery or ornaments for collateral
• KYC compliance with valid identity and address proof

Documents Required

• Passport-size photographs
• Identity proof (Aadhaar, PAN, Passport, Voter ID, Driving License)
• Address proof (Aadhaar, utility bill, Voter ID, Driving License, Passport)

Repayment Options

• Term Loan with EMI: Up to 24 months
• Bullet Repayment: Interest and principal at maturity within 12 months
• Cash Credit Facility: Annual repayment review

Charges & Fees

• Margin: 25 percent for term loans, 30 percent for bullet repayment
• No documentation or inspection charges

Key Considerations

• Gold must be genuine ornaments, not bullion
• Margin maintained throughout loan tenure
• Lack of repayment leads to forfeiture and auction of gold

Benefits of Bank of Maharashtra Gold Loan

• Low interest starting from 8.30 percent
• Quick approval and disbursal
• No prepayment penalty
• Flexible repayment options
• No need of guarantor

Contact Bank of Maharashtra

• Customer Support: Visit the official website for local branch details
• Website: bankofmaharashtra.in