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 Private Gold Loan

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

Features

  • Maximum 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%
  • Safety: Pledge of silver ornaments duly confirmed for quality & volume.
  • Processing charges: 0.50percent regarding the Loan amount + applicable GST minimum Rs500/- + applicable GST
  • Rate Of Interest:
    • For almost any Loan quantity: 0.50% over the MCLR-1yr
  • Others: Gold appraiser charges is going to be paid by the Applicant.

Eligibility

  • Age: 18 years and above
  • Career: Any specific (singly or jointly) with Steady income source including: Bank’s Employees, Pensioners. (No Proof 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 center and month-to-month interest is become offered.
    • Bullet Repayment Gold Loan: On or ahead of the term for the loan/ on closing of account.
  • Repayment Period
    • Optimum: Gold Loan: 36 months fluid Gold Loan: 36 months Bullet Repayment Gold Loan: one 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 case there is 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 12 months MCLR Spread over one year MCLR Successful Interest Rate
Gold Loan(all variations) 7.00% 0.50% 7.50per cent
Realty Gold Loan- the Gold Loan Product exclusively for SBI Housing Loan Customers (all variations) 7.00% 0.00% 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 Using through YONO)

7.75% p.a.

Year 3 years to less than 5

5 years to significantly less than a decade

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