sbi gold loan for all your legitimate funds requirement.
SBI Gold loan scheme application process:
1. Online Process: click link below for online
application as shown in image below and fill the form and submit application.
https://onlineapply.sbi.co.in/personal-banking/gold-loan
Offline Application: By visiting nearest SBI branch
Telecalling: Dial 1800-11-2211 for more information/
applying through Contact Centre.
Give a
Missed Call on 7208933143 or SMS “GOLD” on 7208933145 to get a call back from
our Contact Centre.
Types of SBI gold loan:
- Gold Loan.
- Liquid Gold Loan.
- Bullet Repayment Gold Loan.
SBI gold loan
Eligibility:
·
Min Age : 18 years and above
·
Profession : Any individual
(singly or jointly) with Steady source of income including: Bank’s Employees,
Pensioners. (No Proof of income required)
SBI gold loan purpose:
You
can avail a gold loan in order to finance various needs, such as for
educational purposes, medical emergencies, going on a holiday or any other
legitimate requirement of funds.
SBI gold loan
quantum:
·
Maximum Loan Amount : Rs 50.00 lacs
·
Minimum Loan Amount :
Rs 20,000 /-
Actual loan amount
depends on actual value of gold ornaments/coins pledged. As per RBI you cannot
pledge gold coins more than 50 grams.
SBI gold
loan Margin:
o Gold Loan: 25%
o Liquid Gold Loan: 25%
o Bullet Repayment Gold Loan: 35%
SBI gold loan repayment period:
Repayment
Gold Loan EMI based : The
repayment of Principal and Interest will be commenced from the month following
the month of disbursement.
Maximum repayment period: 36 Months
Liquid Gold Loan: Overdraft Account
with transaction facility and monthly interest is to be served.
Maximum repayment period: 36 Months
Bullet Repayment
Gold Loan: On or before the term of the loan/ on closure of account.
Maximum repayment period: 12 Months
Note: you can close gold loan any
time without penality with your own funds.
SBI gold loan documentation:
To
Apply Loan
·
Application for Gold Loan with two copies of photographs.
·
Proof of Identity
( i)
Passport ii) Voter ID Card iii) PAN Card iv) Government/Defence ID Card v) ID
Card of reputed employers vi) Driving License vii) Pension Payment Orders
issued to the retired employees by Central/State Government Departments, Public
Sector Undertakings viii) Photo ID Cards issued by Post Offices ix) Photo
identity Cards issued to bonafide students by a University, approved by the
University Grants Commission)
·
proof of Address
(Passport
ii) Driving license iii) Credit Card Statement- not more than 3 months old iv)
Salary slip v) Income/Wealth Tax Assessment Order vi) Electricity Bill- not
more than 6 months old vii) Landline Telephone Bill - not more than 3 months
old viii) Bank account statement ix) Letter from reputed employer)
·
Witness Letter in case of illiterate borrowers.
Time of Disbursement
·
DP note and DP Note Take Delivery Letter.
·
Gold Ornaments Take Delivery Letter.
·
Arrangement Letter
SBI gold loan rate of interest:
RATE
OF INTEREST (up to 30.06.2022) Mean
Rate of Interest: 7.40%
|
Scheme |
1 year MCLR |
Spread over 1 year MCLR |
Effective Interest Rate |
|
Gold Loan (all variants) |
7.10% |
0.30% |
7.40% |
Rate of interest are always subject
to change. Kindly confirm rates while application.
SBI gold loan charges:
Processing-fee
0.50% of the Loan amount minimum Rs500/- + applicable GST.
COMMENTS