Hi guys, today I come back with good and useful stuff for all SBI users. Nowadays a lot of members are taking part as customers in SBI bank. In this base, I bring a piece of good news about how to take the gold loan in SBI and know about all related news like SBI gold loan interest rate and more.
SBI gold loan is treated as a friendly gold loan for all. Because, when we compared to personal loan, home loan or credit card loan the processing fee is too low and document verification also very low.
SIFOJON Men's Cotton Lining Digital Printed Shirt Fabric (Free Size) Bye 2 get 1 free
Complete Information About Gold Loan
A gold loan is a hidden loan taken by the borrower from the customer by requesting their gold articles as holdings. The loan amount produced is a certain percentage of the gold, normally up to 80% based on the current market value and quality of gold.
For a gold loan, the bank takes your gold as holdings for a certain time of the loan. Bank takes an interest rate and once you repay the complete loan amount the bank returns your jewelry.
SBI Gold Loan
 |
| SBI |
Firstly those who are completed 18+ years are applicable for gold loans. Processing fee of gold loan up to 0.25% on gold loan and extra GST tax is applicable. But, here is a Golden offer for yono SBI users is no need to pay any processing fee. It will give the minimum and maximum amount of loan nearly 20,000 to 500000.
Repayment Mode
Repayment mode means after taking a loan you have to pay in 3 ways.
• Bullet Payment
• Upfront Interest
• Standard EMI
Bullet Payment: The repayment amount of the loan is calculated monthly, but you pay the full amount including interest, at the maturity of your loan period.
Upfront Interest: You can pay the loan amount at the beginning of tenure and the principal at the end.
Standard EMI: You have the chance for paying back the loan with interest on a month-on-month basis.
Repayment mode is dependent on up to 12 to 36 months.
Interest Rate
SBI gold loan is providing an interest rate of nearly 7.50 percent. If you compare to a personal loan, home loan, and credit card loan interest rate is very low.
So, for those who are in financial problems or cash crunches, pledge your gold in SBI bank you can easily get money with a low-interest rate.
Required Documents
The documents needed for allowing the gold loan are:
• 2 Passport size photos
• ID proof like PAN Card, Aadhaar Card, and voter id.
• Nativity proof like a bank statement, electricity bill, telephone bill.
Not only SBI but also so many gold loan ways are there mainly
• Muthoot Gold Loan
• ICICI Gold Loan
• IndusInd Gold Loan
• HDFC Gold Loan
• Axis Gold Loan
• SBI Agricultural Gold Loan and more.
Conclusion Tips
Keep your gold for loan at trusted banks like SBI.
Don't take gold loan with high interest rate.
0 Comments