New 251 gold loan shops were opened in Andhra Pradesh, Gujarat, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab & Haryana, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal. 35 new gold loan shops have started in Kerala. Including the new ones, there are a total of 1,238 gold loan shops operating under Bank of Baroda nationally.
To ensure uninterrupted assayer services on all working days, one officer and at least two appraisers are assigned to each gold loan shop. Meanwhile, the officer-in-charge of the gold loan shop has been empowered to sanction loans at his discretion. Through this, the process is completed quickly and the loan can be approved.
“We are delighted to launch 251 new gold loan shops across the country. As the bank’s gold loan business gains momentum, we believe gold loan shops can play a vital role in building a quality gold loan portfolio and driving business growth,” said Ajay K Khurana, Executive Director, Bank of Baroda.
“Bank of Baroda offers very affordable interest rates on gold loans. High loan limits and no processing charges for loans up to Rs. 3 lakhs. While we ensure that customers get the best value for their pledged gold,” added Ajay K Khurana.
