What is the best way to apply for a Bank of Maharashtra Gold Loan (Loan Against Gold)?

You can start the process of applying for a Best Gold Loan in any of the following ways: In person at any Bank of Maharashtra Branch. To find the closest Branch to you, please click here Apply from anywhere anytime with our online application. To apply online please click here By contacting our call centre. To find the toll-free numbers, click here

Best Gold Loan Interest Rates For 2025 -Bank of Maharashtra

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Gold Loan – Secure, Fast, and Affordable

Bank of Maharashtra’s Gold Loan is a reliable and convenient financial solution that allows you to unlock the value of your gold without having to sell it.
Whether you need funds for personal or business purposes, our best gold loan interest rates ensure an affordable borrowing experience. With a simple process, minimal documentation, and quick disbursal, you can access funds easily while keeping your gold safe.

Interest Rate

9.05% P.A*

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With the Bank of Maharashtra’s lowest gold loan interest rates, we provide a convenient solution for your financial needs. Visit your nearest branch to apply and take advantage of the gold you have by securing a loan against it.

Features and benefits of Gold Loan

Type of Facility : Term Loan/Cash Credit
Maximum Tenure up to 24 months
Minimum Quantum of Loan: Rs. 20,000/- (Twenty thousand Only)
Maximum Amount: Up to Rs. 100 lakh* (*T&C Applied)
Out of Pocket Expenses (Packing Charges): Rs. 100/- + GST
No Pre-Payment / Pre-closure / Part payment Charges.
Bank of Maharashtra Offers Lowest Interest Rate on Gold Loan in India

Competitive Interest Rates
Bank of Maharashtra offers an affordable gold loan interest rate for all customer needs. Borrowers can benefit from the gold loan minimum interest rate options available, ensuring easy repayment without financial stress.
Quick Loan Processing
Worried about what is the gold loan process? - It’s designed to be seamless and hassle-free. Simply visit a branch, submit your gold ornaments for valuation, and get the loan amount disbursed.
Flexible Loan Amounts
Avail of a loan based on the value of your gold. The bank provides financing to meet different needs, whether for emergencies, business expansion, education, or any personal requirement.
Secure Gold Storage
Your pledged gold remains safe with the Bank of Maharashtra, ensuring security and peace of mind. The bank follows strict protocols to store your assets securely until the loan is repaid.
Easy Repayment Options
With multiple repayment choices, including bullet repayment and EMI options, customers can choose the plan that best suits their financial situation.

Repayment Type	Margin
Bullet Repayments (Maximum 12 months)	30%
In all other cases (TL/CC)	25%

LTV ratio 75% is to be maintained throughout the tenure of the Loan. (Total outstanding Including int./Value of Gold)

Up to Rs. 3.00 lakh - NIL
Above Rs. 3.00 lakh to Rs. 5.00 lakh - Rs. 500
Above Rs. 5.00 lakh to Rs. 10.00 lakh - Rs. 1000
Above Rs. 10.00 lakh to Rs. 20.00 lakh - Rs. 1500
Above Rs. 20.00 lakh - Rs. 2000

TL / CC- Maximum – 24 Months
In case of Bullet Repayment Maximum - 12 Months

Pledge of gold jewellery/ ornaments.
Bank shall not grant any advance against bullion / primary gold

Gold Loan Documents Required

Two Passport Size Photographs.
Proof of Identification: (any one)
- Election ID Card
- Pan Card
- Aadhar Card
- Driving License
- Photo Identity card issued by the current Employer
- Passport
Proof of Residence : (any one)
- Electricity Bill
- Election ID Card
- Telephone Bill (Landline)
- Aadhar Card
- Driving License
- Passport

Gold Loan Interest Rates

Gold Loan Interest Rate

9.05% P.A*

Fore more Interest Rates & Charges Click here

Gold Loan Eligibility

How will Bank of Maharashtra decide the gold loan amount i am eligible for?

All Individuals including Bank staff desirous of availing Gold Loan against Gold Jwellery / ornaments.

The applicant should satisfy the KYC guidelines.

Eligible Loan Limit

Rs. 5665/- per gram of 22 carat gold ornament or 75% of the market value of the net weight of the Gold Ornaments excluding stones attached to the ornaments / jwellery to be pledged, whichever is less
Note : Scale of Finance will be reviewed from the time to time

If you are considering applying for a gold loan, understanding the loan eligibility is essential.

Age Criteria: Applicants must be 18 years or older.
Ownership: Only those who own the gold ornaments or jewellery can pledge them as security.
KYC Compliance: Basic identity and address proof as per banking guidelines must be provided.

Meeting these eligibility criteria ensures a smooth loan approval process.

Gold Loan Repayment

Repayment Mode

A) Term Loan Facility

1. Principal Equally Distributed / EMI

Pricipal:

The maximum repayment period is 24 Months. Repayment should be fixed in terms of monthly / quarterly / half yearly / Yearly.

Interest:

Interest should be charged on monthly basis and should be serviced as and when applied

2. Bullet Repayment

The repayment period of such loans shall not exceed 12 months. Bullet Repayment of Interest & Principal at the end of term. Interest will be charged to the account at monthly rests but will become due for payment along with Principal only at maturity.

B) Cash Credit

Annual Review subject to entire amount to be repaid once in year.

Interest :

Interest should be charged on monthly basis and should be serviced as and when applied

Frequently Asked Questions (FAQs)

As the name suggests this is the loan given against gold. It’s a secured loan that enables borrowers to pledge their gold in lieu of a cash loan. It enables people to utilize their gold assets instead of storing them in lockers.

A gold loan is a method of availing finance/loan against your gold ornaments or jewellery such as bangles, necklaces, bracelets, earrings, pendants, gold coins (issued by Banks Only in tamper proof packaging) etc.

Under the extant guidelines, Rs. 5665/- per gram of 22 carat gold ornaments Or 75% of the market value of the net weight of the Gold ornaments excluding stones attached to ornaments/jewellery to be pledged, whichever is less, that much loans sanctioned by banks against pledge of gold ornaments and jewellery.

You can start the process of applying for a Best Gold Loan in any of the following ways:

In person at any Bank of Maharashtra Branch. To find the closest Branch to you, please click here
Apply from anywhere anytime with our online application. To apply online please click here
By contacting our call centre. To find the toll-free numbers, click here

Gold loan rate of Interest are fixed and offered as on date of Loan disbursement. Bank of Maharashtra’s Lowest Gold Loan Interest rate starts from 9.05% p.a*., subject to change as per RBI norms and at the discretion of the bank.

Monthly compounding interest is charged, which the borrower has to pay at the specified periodicity or at the closure of loan, whichever is earlier. The interest rate is fixed and calculated on a reducing balance basis.

*Gold Loan under retail advances

A PAN card is not a mandatory document to apply for a gold loan. However, the applicant should satisfy the KYC guideline.

All individuals including bank staff can avail the gold loan against gold ornaments / jewellery from Mahabank.

There is No charges for Documentation and Inspection. Processing charges will be varying on loan amount and right now ‘NIL’ up to loan of Rs. 10.00 lakh.

While availing Bank Of Maharashtra Gold Loan No Guarantor is required.

No, a CIBIL score is not required when availing a Mahabank gold loan. The eligibility criteria for a gold loan does not include a credit score or credit check of any sorts - only the KYC documents required for gold loan should be submitted.

The gold loan interest is calculated differently and is set by the bank.

What is the Gold Loan Process?

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to Apply for Gold Loans Online

The gold loan process at the Bank of Maharashtra is designed to be simple and efficient:

Visit the Branch: Carry your gold ornaments and required documents.
- Passport Size Photographs
- Proof of Identification
- Proof of Residence
Gold Valuation: The bank’s experts assess the purity and weight of the gold to determine its value. This is done in front of you keeping complete transparency.
Loan Sanction: Based on the valuation, a loan amount is approved as per the current market price of gold.
Loan Disbursal: Once approved, the gold loan amount is credited to the bank account of your choice.

The entire process is quick & transparent ensuring that customers can access funds when they need them most and get the correct value of their gold.

How to Apply for Digital Gold Loans

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