Bank of Maharashtra Gold Loan Gold Loan Key Features
| Bank of Maharashtra Gold Loan Amount | Up to Rs. 1 Crore (With Income Proof) |
| Bank of Maharashtra Gold Loan Interest Rate | 7.0% per annum |
| Bank of Maharashtra Gold Loan Per Gram | Rate Per Gram Today is â‚ą 5,268 |
| Bank of Maharashtra Gold Loan Processing Fee | 1.50% of the Principal Loan Amount |
| Bank of Maharashtra Gold Loan Prepayment Charges | 2%+GST (Within 3 Months), 0 (After 3 months) |
| Bank of Maharashtra Gold Loan Repayment Tenure | 3 Months to 24 Months |
| Bank of Maharashtra Gold Loan Repayment Scheme | Bullet Payment Scheme, Overdraft Scheme |
Advantages of Bank Of Maharashtra Gold Loan:
- Brief Process- The Bank of Maharashtra does not take much time in finishing all the procedures. It takes a maximum of 1 hour to pass the loan of an applicant.
- Minimal Documentation- Documents are compulsory if you are applying for a gold loan but Bank of Maharashtra is specific with the few important documents that are required during the process.
- Direct System- Bank of Maharashtra provides clarity with the charging system, that is; no hidden charges are indulged.
- Amount of Loan- Bank of Maharashtra offers loans up to Rs. 15000 to the client. Along with it minimizes the amount to 10000 in rural space.
- Good of Gold- Bank of Maharashtra takes the authority if the gold decorations. It grants the total safety and security of your gold by providing flame-defiant.
- Loan Tenure- The Bank of Maharashtra avail loan for 3 months to 2years. Rest depends on the client’s choice and comfort.
- Benefits for Farmers- Agricultural department or correlated activities are granted with exclusive offers. The bank provides them a gold loan at a low banking rate.
- Income is not an Issue- Bank of Maharashtra is less concerned about the salary of the candidates. Everyone is allowed to avail of the gold loan.
- Burden Free from Obligations- Bank of Maharashtra will not put debt charges on the clients if they are not able to reimburse the loan amount. It will enfold your gold with them.
How Much Gold Loan can I Get through Bank of Maharashtra Gold Loan:
Bank of Maharashtra Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate | ||||
Gold Weight | Gold Purity | Gold Purity | Gold Purity | Gold Purity |
24 Carat | 22 Carat | 20 Carat | 18 Carat | |
1 gram | 4680 | 4290 | 3900 | 3510 |
10 gram | 46800 | 42900 | 39000 | 35100 |
20 gram | 93600 | 85800 | 78000 | 70200 |
30 gram | 140400 | 128700 | 117000 | 105300 |
40 gram | 187200 | 171600 | 156000 | 140400 |
50 gram | 234000 | 214500 | 195000 | 175500 |
100 gram | 468000 | 429000 | 390000 | 351000 |
200 gram | 936000 | 858000 | 780000 | 702000 |
300 gram | 1404000 | 1287000 | 1170000 | 1053000 |
400 gram | 1872000 | 1716000 | 1560000 | 1404000 |
500 gram | 2340000 | 2145000 | 1950000 | 1755000 |
Bank of Maharashtra Gold Loan Eligibility:
Age | 18-70 years of age |
Nationality | Indian |
Employment Status | Salaried, Self-Employed |
Gold Quality | Minimum 18 Carats |
Bank of Maharashtra Gold Loan Documents Required:
Photographs | 2 Passport Size |
Identity Proof | Aadhar Card, Passport, PAN Card, etc. (Only 1 is required) |
Residence Proof | Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required) |
Bank of Maharashtra Gold Loan Interest Rate, Fees, and Charges:
Bank of Maharashtra is available for the best gold loan facility. It is accorded with an appealing bank rate to the customers. Additionally, it gives the gold loan at a slightly low-interest rate, especially for horticultural purposes.
Gold Loan Interest Rate | 7.00% per annum |
Processing Fee | 1.50% of the Principal Loan Amount |
Prepayment/Foreclosure Charges | 2%+GST (Within 3 Months), 0 (After 3 months) |
Valuation Fee | Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs |
Late Repayment Charges | 2% p.a. + Applicable rate of interest. |
Renewal Processing Fees | Rs 350 + GST |
About Bank of Maharashtra Gold Loan?
A gold loan is offered to the customers for fulfilling their short term or long term requirements. Bank of Maharashtra provides a gold loan to the candidates who are in the middle of financial problems and they have no way to please their monetary requirements. It is considered to be the biggest platform as a gold loan provider. Apart from various other financial banking or non-banking institutions, Bank of Maharashtra Gold Loan is named as the most demanding platform. It is a public sector bank and is established in 1935.
- Bank of Maharashtra Gold Loan Interest Rate is 7.0% per annum
- Bank of Maharashtra Gold Loan Per Gram is â‚ą 5,268
- Bank of Maharashtra Gold Loan Tenure: Up to 24 months
- Bank of Maharashtra Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Bank of Maharashtra Gold Loan:
Bank of Maharashtra hit on several patterns related to Gold Loan which are indexed below-
- Loan Against Gold – Bank of Maharashtra proposes such an attractive interest rate for achieving consumer’s interests. Obvious, Gold Loan is a trustable loan service, thus, the bank is inevitable to lend the amount to the clients at low-interest rates.
- Loan Against Gold for Agriculture- Bank of Maharashtra grants Gold Loans indicatively for achieving the horticultural targets to workers at a certain rate of interest set side by side to gold loans given for fulfilling other demands. They are accustomed to special offers and you need to give evidence of lending loans for the land.
Bank of Maharashtra Gold Loan EMI Calculator:
Rate of Interest | 6 months | 1 Yr | 2 Yrs | 3 Yrs |
| 7.00% | 17008 | 8652 | 4477 | 3088 |
| 8.00% | 17058 | 8699 | 4523 | 3134 |
| 8.50% | 17082 | 8722 | 4546 | 3157 |
| 9.00% | 17107 | 8745 | 4568 | 3180 |
| 9.50% | 17131 | 8678 | 4591 | 3203 |
| 10.00% | 17156 | 8791 | 4614 | 3227 |
| 10.50% | 17181 | 8815 | 4637 | 3250 |
| 11.00% | 17205 | 8838 | 4661 | 3274 |
| 11.50% | 17230 | 8861 | 4684 | 3298 |
| 12.00% | 17254 | 8885 | 4707 | 3321 |
| 12.50% | 17279 | 8908 | 4731 | 3345 |
| 13.00% | 17304 | 8932 | 4754 | 3369 |
| 13.50% | 17329 | 8955 | 4778 | 3393 |
| 14.00% | 17354 | 8979 | 4801 | 3418 |
| 14.50% | 17378 | 9002 | 4825 | 3442 |
| 15.00% | 17403 | 9026 | 4845 | 3466 |
How to Pay Your Bank of Maharashtra Gold Loan EMI?
- Standing Instruction (SI): On condition that you are a current account buyer with Bank of Maharashtra, Standing Instruction is the highly principled process of reimbursement. Periodically, your EMI account will be deemed from this record.
- Electronic Clearing Service (ECS): This event can be taken into account if you have a non- Bank of Maharashtra record and you need your EMI to be debited from the account of Bank of Maharashtra.
- Post-Dated Checks (PDC): You are asked to give away your post-dated EMIs in the nearest loan of Bank of Maharashtra. Also, a new report of PCDs should be given on time.
Bank of Maharashtra Bank Gold Loan Contact Number:
For further knowledge or in any doubt you can contact- 9878981144
Gold Ornaments Accepted by Bank of Maharashtra:
- Gold Ornaments-Decors of gold is admissible to the bank. These can be any golden things like Gold Bracelet, Gold nose pin, Gold earrings, etc.
- Quality of Gold- The quality of gold should be pure otherwise the bank unwelcome your offerings. The quality should wave between 18 carats to 22 carats.
Uses of Bank of Maharashtra Gold Loan:
The capital acquired by the bank for availing gold loan to the candidates can be used for so many purposes-
- It can use for growing your business world; you can buy various business products.
- You can use it for your own cost of living.
- You can put them for agrarian purposes to be achieved.
Gold Loan Interest Rate of Major Banks
| Bank | Interest Rates |
| 7.00% – 14.50% | |
| 7.00% – 16.10% | |
| Muthoot Finance Gold Loan | 7.00% – 24.00% |
| 7.00% – 17.00% | |
| Manappuram Gold Loan | 7.00% – 26.00% |
| 7.00% – 15.99% | |
| Bank of India Gold Loan | 7.00% – 26.00% |
| 7.00% – 13.50% | |
| IIFL Gold Loan | 7.00% – 12.00% |
| 7.00% – 14.65% | |
| 7.00% – 12.65% | |
| Allahabad Bank Gold Loan | 7.00% – 10.45% |
| 7.00% – 15.75% | |
| PNB Gold Loan | 7.00% – 11.75% |
| 7.00% – 26% | |
| SBI Gold Loan | 7.00% – 15.99% |
| 7.00% – 15.99% | |
| UCO Bank Gold Loan | 7.00% – 26.00% |
| 7.00% – 13.50% | |
| Syndicate Bank Gold Loan | 7.00% – 12.00% |
FAQs About Bank of Maharashtra Gold Loan:
- What is Bank of Maharashtra Gold Loan?
Bank of Maharashtra offers gold loan service to the needy ones. It takes their gold ornamentation and helps the, with lending some amount of loan so that the individuals can fulfil their requirements.
- How can I get the Gold Loan from Bank of Maharashtra?
Any loan aspirant can get a gold loan from Bank of Maharashtra. You are required to fill an application form at BookMyLoans or you can take yourself to the nearest Bank of Maharashtra branch.
- What is the Gold Loan Interest Rate in Bank of Maharashtra?
Bank of Maharashtra provides gold loan at an interest of 7.0%.
- How much Gold Loan can I get per gram in Bank of Maharashtra?
Bank of Maharashtra gives gold loans at Rs, 5,268 Per Gram.
- How to check Gold Loan status in Bank of Maharashtra?
An enthralling way of getting a gold loan is by searching the tracker webpage or by leading your path to the nearby branch of Bank of Maharashtra.
- How to Pay Bank of Maharashtra Gold Loan Interest Online?
Gold Loan interest can be paid online conveniently. You can go to Paytm or for net banking. Also, you are free to choose your payment method.
- How to calculate Gold Loan Interest in Bank of Maharashtra?
Calculating gold loan interest in Bank of Maharashtra is simple and quick. You just have to use EMI Calculator.
- What if I can’t pay the interest on the Bank of Maharashtra Gold loan for 3 months?
It is a matter of worry for those candidates who haven’t paid the interest for 3 months and leaving the request of payment unheard. the bank will take legal actions against them and catch hold of their gold ornaments.
- How can I apply for EMI Moratorium on Bank of Maharashtra Gold Loan?
The EMI Moratorium is important to apply, for this, you can visit the loan adviser in your nearby branch of Bank of Maharashtra or you can contact them from your home.
