This Article is based on SBI Bank Offers Loan on Gold or Gold Loan offers by SBI bank. SBI is a Best Loan Bank in India for Gold Loan. Get an instant loan against Gold & Jewellery from SBI bank.
SBI Bank Offer’s Loans on Gold
|SBI Bank Gold Loan Interest Rate – 7.30% p.a. onwards
|Loan Tenure – Up to 3 years
|Processing Fee – 0.25% of the loan amount + GST
About SBI Bank Gold Loan
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State Bank of India Gold Loan is a secured loan where you pledge gold or assets to take gold. SBI accepts bank-bought gold coins as security of funds. You can use the loan amount for any financial or emergency work.
Financial institutions have various gold loan schemes, of which individual gold multiplication and multipurpose gold loan schemes are the most popular. Only at 7.30 % per annum interest rate, every eligible applicant can get this SBI Gold Loan.
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How much Gold Loan can I get from SBI Bank?
State Bank of India (SBI) Bank provides their customer’s Gold loans from Rs 20000 Up to Rs.50 lakh.
How much time does it take for Gold Loan approval in SBI Bank?
Basically, It takes 1 hour to approve your Gold Loan application, if you meet all criteria of Gold Loan.
SBI Bank: Eligibility Criteria for Gold Loan
Here is the following criteria for a gold loan, you have to meet:
- The age of the Applicants should be between 18 to 65 Years old.
- An applicant should have a good source of income.
- Applicants Must have 18 carats to 22-carat gold.
Interest rate – SBI Bank Gold Loan
The interest rate of the State Bank of India (SBI) Bank Gold Loan is starting from 7.30% per annum up to 7.50%.
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SBI Bank – documents required for Personal Loan against Gold
These are the required documents you need to submit along with the duly filled application form:
- Identity Proof (PAN Card/Voter Card/Aadhar Card/Driving License)
- Address Proof (Aadhar Card/Electricity Bill/Passport/Driving License)
- 2 Passport Size Photograph
- DP Note
- DP Note Take Delivery Letter
- Arrangement Letter
- Gold Ornaments Take Delivery Letter
Who can take Gold Loan from SBI Bank?
Any Indian Citizen whose age is between 18 to 65 Years and who is Businessman, Salaried Person, Self-employed, or anything can apply for SBI Gold Loan if they are eligible according to the criteria.
How to get Gold Loan from SBI Bank?
Basically, there are 2 ways you can get SBI Gold Loan. One is in Online Mode and Another is Offline Mode. You can get the loan in a Digital way through their SBI YONO app or by visiting their official site. But, I will recommend you to get this through by visiting Bank Branch.
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How to apply for Gold Loan from the SBI YONO app?
Here are the following steps to apply for SBI Gold Loan through the SBI YONO app
1) After Download and install the app,
- Login to your YONO account
- Click on the Menu (3 Lines)
- Click on loans
- Click on Gold Loan and Apply
- Fill in ornament details, personal details, fill the Net Monthly Income, and Submit the application
2) Visit the branch with 2 Passport Size Photos and Required Documents and Get the Loan.
SBI Bank Gold Loan Schemes – Feature and Benefit
- Flexible loan amount: Any eligible person can take loans between Rs 20,000 to Rs 50 lakh.
- Flexible Repayment Term: The loan can be repaid through EMI, with a maximum term of 12 months to 36 months.
- Flexible loan repayment method: A customer can use the bullet repayment gold loan method to pay for their SBI personal gold.
- Low Processing Fee: SBI charges a 0.25% processing fee for processing.
- Security: Gold items given as security are refunded on payment of the loan.
- Quick Approval: This loan is easy to get with quick approval and minimal documentation.
- Prepayment: Recipients can pre-repay their loan without any prepayment charge from SBI.
Details about SBI Bank Gold Loan Schemes
There are 5 types of State Bank of India (SBI) Gold Loan:
- SBI Personal Gold Loan
- SBI Liquid Gold Loan
- SBI Multipurpose Gold Loan
- SBI Bullet Repayment Gold Loan
- SBI Agricultural Gold Loan
Reference of Content : Official Webiste SBI