The star mahila scheme has been launched by the bank of India to provide gold loan to the resident Indian women. One can get loan against gold ornaments which have been purchased from reputed Jewellers or gold coins purchased from Bank of India. Bank Of India Gold Loan Review states that it is an attractive loan which customers are willing to take as the Bank Of India Gold Loan Interest Rate is attractive and the Bank Of India Gold Loan Eligibility is easy to achieve.

Bank Of India Gold Loan Interest Rate:

The current Bank Of India Gold Loan Interest Rate is discussed below.

Bank Of India Gold Loan Interest Rate is calculated at 3% above base rate. Bank Of India Gold Loan Rate is currently being calculated on 8.50% base rate. Bank Of India Gold Loan Rate is currently at 12.50% p.a.

Bank Of India Gold Loan Eligibility: According to the Bank Of India Gold Loan review the Bank Of India Gold Loan

Eligibility Criteria Are:

• ·Applicants within the age group of 18 to 60 are eligible for the Bank Of India Gold Loan rate.
• ·The applicant should be resident Indian women.
• ·The customer should get minimum 20 marks on banks rating exercise for Bank Of India Gold Loan Eligibility.

Bank Of India Gold Loan Documentation: According to the Bank Of India Gold Loan Review these documents are

Required For Bank Of India Gold Loan Eligibility:

Filled Application Form

Two Photographs

Proof Of Identification

Proof Of Residence

Affidavit stating the ownership of the gold.

Bank Of India Gold Loan Review shows that Bank Of India Gold Loan can be availed for maximum loan tenure should be before the borrower reaches 65 years of age or her retirement which can be repaid in max 60 equated monthly instalments. The loan will be processed according to the banking procedure once the documents have been submitted. The loan can be prepaid however the prepayment clause needs to be found from the bank.

Bank Of India Gold Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on Bank Of India Gold Loan eligibility and Bank Of India Gold Loan Interest Rate etc. are on the official site at http://www.bankofindia.com/starmahila.aspx