Monthly EMI: ₹17,375 at 7.75% for 1 years. Total interest: ₹8,500.
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With a ₹2 Lakh gold loan from Bank of India at 7.75% for 1 years, you will pay a monthly EMI of ₹17,375. The total amount payable is ₹2,08,500, of which ₹8,500 is interest.
At 7.75% interest rate for 1 years, the EMI for ₹2 Lakh Gold Loan from Bank of India is ₹17,375 per month. Total interest payable: ₹8,500.
Bank of India offers Gold Loan at 7.75 - 9.75% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹2 Lakh at 7.75% for 1 years, you would pay approximately ₹8,500 as total interest, making the total repayment ₹2,08,500.
Bank of India's prepayment policy for Gold Loan: Nil. Making prepayments can significantly reduce your total interest outgo.
Bank of India offers competitive rates starting from 7.75 - 9.75% with tenure up to 3 years. Compare with other banks on this page to find the best option for your ₹2 Lakh gold loan.