Personal Gold Loans
SBI Private Gold Loan
- Features
- Eligibility
- Payment
- Papers Required
- Interest rate
SBI Gold Loan could be availed by pledge of silver ornaments including coins offered by Banking institutions with minimal paper work and interest rate that is low.
Features
- Maximum Loan Amount: Rs 20.00 lacs
- Minimum Loan Amount: Rs 20,000 /-
- Margin
- Gold Loan: 25%
- Fluid Gold Loan: 25%
- Bullet Repayment Gold Loan: 35%
- Safety: Pledge of silver ornaments duly confirmed for quality & volume.
- Processing charges: 0.50percent associated with the Loan amount + relevant GST minimum Rs500/- + applicable GST
- Rate Of Interest:
- For almost any Loan quantity: 0.50% over the MCLR-1yr
- Others: silver appraiser fees may be paid because of the Applicant.
Eligibility
- Age: 18 years and above
- Career: Any specific (singly or jointly) with Steady income source including: Bank’s Employees, Pensioners. (No evidence of earnings needed)
Payment
- Repayment Mode
- Gold Loan: The payment of Principal and Interest would be commenced through the following the month of disbursement month.
- Fluid Gold Loan: Overdraft Account with deal facility and month-to-month interest is become served.
- Bullet Repayment Gold Loan: On or ahead of the term of this loan/ on closing of account.
- Repayment Period
- Optimum: Gold Loan: 36 months Liquid Gold Loan: 36 months Bullet Repayment Gold Loan: year
Papers Required
To Utilize Loan
- Application for Gold Loan with two copies of photographs.
- Evidence of Identity with evidence of Address
- Witness Letter in the event of illiterate borrowers.
Time of Disbursement
- DP note and DP Note Take Delivery Page.
- Silver Ornaments Take Delivery Letter.
- Arrangement Letter.
INTEREST RATE (w.e.f. 15.05.2020 to 15.07.2020)
| Scheme | 1 MCLR | Spread over 12 months MCLR | Good Interest Rate | |
|---|---|---|---|---|
| Gold Loan(all variations) | 7.00 12 months% | 0.50% | 7.50percent | |
| Realty Gold Loan- the Gold Loan Product solely for SBI Housing Loan Customers (all variations) | 7.00% | 0.00per cent | 7.00% | |
Rates Of Interest
6.95% p.a.
*T&C Apply.
7.50% p.a.
*T&C Apply.
Loan quantity up to Rs. 3 lakhs
8.85% p.a.
Rs. 3 lakhs & as much as Rs. 5 lakhs
Begin From
9.60% p.a.
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
9.30% p.a.
*T&C Apply.
7.50% p.a.
(On Using through YONO)
7.75% p.a.
Three years to significantly less than 5 12 months
Five years to not as much as ten years
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