Why You Should Apply For Indian Overseas Bank Gold Loan

If you are thinking about applying for a gold loan with Indian Overseas Bank, this article is for you! Here, I’ll be providing an overview of what it is, how much it cost, and the interest rate.

Indian Overseas Bank Gold Loan Highlights

Interest Rate7.05% per annum
Loan AmountUp to Rs. 25 lakh (With Income Proof)
Repayment Tenure12 to 36 Months
Processing Fee1.50% of the Principal Loan Amount
indian Overseas Bank Gold Loan

What Is Gold Loan?

A gold loan is a lending arrangement between two parties in which one party lends money to the other and receives an interest rate for doing so. A borrower usually needs some form of collateral (such as gold) to qualify for a gold loan, as lenders are hesitant to grant loans to people who may not be able to repay them.

Indian Overseas Bank Gold Loan

Indian Overseas Bank (IOB) is one of the leading banks in India with a strong presence in the southern and western regions of the country. The bank offers a wide range of products and services to its customers, including mortgages, personal loans, credit cards, and gold loans.

You can avail Indian Overseas Bank Gold Loan at an interest rate starting from 7.05%. The repayment tenure of the Gold Loan ranges from 12 to 36 months. The bank charges a processing fee of 1.5% of the loan amount. You can get a gold loan up to a maximum of Rs 25 lakh from the bank with income proof.

Indian Overseas Bank Gold Loan Interest Rate

The interest rate for an Indian Overseas Bank gold loan is currently at 7.05%. This is a very low-interest rate, and it’s likely to stay that way for the foreseeable future. The reason for this is that the Indian rupee is relatively stable right now, and there are no signs that it will start to decline any time soon. This means that banks are able to offer lower interest rates on gold loans because they don’t have to worry about losing money if the rupee falls in value.

Read Also – Bank of Baroda Personal Loan

Indian Overseas Bank Gold Loan EMI Calculator

If you are looking to take a loan from Indian Overseas Bank (IOB), but don’t know how much you can afford to borrow, our EMI calculator can help. Simply enter your current monthly income and the amount of the loan you would like to take, and our calculator will provide a personalized estimate of your required EMI. Whether you are looking for a short-term loan or a long-term one, our calculator can help make the process easier.

Indian Overseas Bank Gold Loan Features

  • Quick approval: Indian Overseas Bank provides speedy approvals for gold loans, approving them within the hour of submitting an application.
  • Attractive interest rate: Bank offers Gold Loan at rates starting from 7.05%.
  • Repayment period: The loan tenure at Indian Overseas Bank is 3 months to 2 years. When you apply for a loan, it can be approved by the bank.
  • No collateral required: You do not need any collateral or security for Indian Overseas Bank Gold.
  • Benefits for Agriculture: Interest rates on agricultural loans are at a fair price as compared to other types of loans. Overseas Indian Bank provides interest rates that are lower than the national average.
  • Prepayment: Borrowers can repay their loan in advance without paying any interest.

Indian Overseas Bank Gold Loan Eligibility

If you are considering a gold loan, you should know the qualifications you need to meet. The following are some of the eligibility requirements:

Employment StatusSalaried, Self-Employed
Gold QualityMinimum 18 Carats

Indian Overseas Bank Gold Loan Documents Required

If you are considering a gold loan, there are certain documents that you need to provide to the lender. Here is a list of which documents you need

Identity ProofAdhar, passport, driver’s license, Pan, Card, etc.
Proof of addressutility bill, lease agreement, valid passport, etc.
Proof of income (if applicable)Your most recent payslip, Bank statements, Form 16 or Income Tax Returns.
Applicant’s photo2 Passport Size Photographs

How to Apply for Indian Overseas Bank Gold Loan

If you are looking for a way to get a fresh loan, then you might want to consider applying for an Indian Overseas Bank gold loan. This type of loan is perfect for those who need a quick and easy solution to their financial problems. Here are some tips on how to apply for this loan:

  • Start by gathering all the information you need about the gold loan. This includes the amount you need and the duration of the loan.
  • Once you have all of this information, start filling out the application form online. Make sure that you provide all of the necessary information, including your Social Security number and bank account numbers.
  • Once you have completed the application, submit it to Indian Overseas Bank. It is important to note that the approval process can take up to two weeks, so be patient if you are applying for this loan.

Why You Choose Indian Overseas Bank Gold Loan

The benefits of a gold loan can be substantial. Here are five reasons why you should consider a gold loan:

1. Gold is a valuable asset that can provide stability and security during difficult economic times.
2. Gold loans are a low-risk investment, as the repayment schedule is typically fixed and there is no need for collateral.
3. Gold loans offer interest rates that are usually better than those offered by other types of loans.
4. A gold loan provides you with the opportunity to build up your gold reserves over time, which can provide long-term financial security.
5. Gold loans are often a good option for people who want to invest in precious metals but don’t have the money to do so outright.

Indian Overseas Bank Gold Loan Customer care

If you have a gold loan from Indian Overseas Bank, don’t hesitate to reach out to their customer care. They are experts at resolving any issues that you may have. Their team is available 24/7 to help you with whatever needs you may have. They will work with you to find a solution that works for both of your needs.

24/7 toll-free helpline number1800 425 4445/1800 890 4445


Indian Overseas Bank is a leading Indian financial institution that offers a wide range of products and services to its customers. One of the many products it offers is the gold loan, which allows customers to borrow money against their gold holdings. If you are interested in applying for a gold loan, be sure to visit the Indian Overseas Bank website and review the different terms and conditions carefully.

Read Also – Canara Bank Personal Loan


Q. What is the gold loan interest rate?

A. Interest rate for an Indian Overseas Bank gold loan is currently at 7.05%.

Q. What are the penalties if I do not repay the loan on time?

A. There are penalties including loss of interest, additional interest, and cancellation of the note.

Q. How often can I repay the loan?

A. The repayment can be done in equal instalments or one big instalment.

Q. What is the eligible loan amount?

A. Indian Overseas Bank gold loan amount is 5 Lakh to Rs 25 Lakh. 

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Hey, I'm Digvijay Sharma. I've much experience in the financial sector so, I created this website to share the best knowledge with you as a LoanTeacher so you can take better decisions for your financial life.

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