Apply on line for SBI private Gold Loan in Asia – Personal Banking

Apply on line for SBI private Gold Loan in Asia – Personal Banking

Personal Gold Loans

SBI Personal Gold Loan
  • Features
  • Eligibility
  • Repayment
  • Documents Required
  • Interest rate

SBI Gold Loan may be availed by pledge of silver ornaments including coins offered by Banking institutions with minimum paper work and interest rate that is low.

Features

  • Optimum Loan Amount: Rs 20.00 lacs
  • Minimal Loan Amount: Rs 20,000 /-
  • Margin
    • Gold Loan: 25%
    • Fluid Gold Loan: 25%
    • Bullet Repayment Gold Loan: 35%
  • Protection: Pledge of silver ornaments duly confirmed for quality & quantity.
  • Processing charges: 0.50per cent for the Loan amount + relevant GST minimum Rs500/- + applicable GST
  • Interest:
    • For almost any Loan quantity: 0.50% over the MCLR-1yr
  • Others: silver appraiser fees is going to be compensated because of the Applicant.

Eligibility

  • Age: 18 years and above
  • Occupation: Any specific (singly or jointly) with Steady income source including: Bank’s Employees, Pensioners. (No proof income required)

Payment

  • Repayment Mode
    • Gold Loan: The payment of Principal and Interest would be commenced through the following the month of disbursement month.
    • Liquid Gold Loan: Overdraft Account with deal center and month-to-month interest is become offered.
    • Bullet Repayment Gold Loan: On or ahead of the term of this loan/ on closing of account.
  • Repayment Period
    • Optimum: Gold Loan: 36 months fluid 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.

Period of Disbursement

  • DP note and DP Note Take Delivery Page.
  • Silver Ornaments Take Delivery Page.
  • Arrangement Letter.

INTEREST (w.e.f. 15.05.2020 to 15.07.2020)

Scheme 1 MCLR Spread over 12 months MCLR Successful 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% 0.00percent 7.00percent
Rates Of Interest

6.95% p.a.

*T&C Apply.

7.50% p.a.

*T&C Apply.

Loan quantity as much as Rs. 3 lakhs

8.85% p.a.

Rs. 3 lakhs & as much as Rs. 5 lakhs

Begin With

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 Applying through YONO)

7.75% p.a.

Year 3 years to less than 5

5 years to not as much as a decade

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