Personal Gold Loans

SBI Private Gold Loan

• Features
• Eligibility
• Payment
• Papers Required
• Interest rate

SBI Gold Loan could be availed by pledge of silver ornaments including coins offered by Banking institutions with minimal paper work and low-value interest.

Features

• Optimum Loan Amount: Rs 20.00 lacs
• Minimal Loan Amount: Rs 20,000 /-
• Margin
  • Gold Loan: best installment loans in pennsylvania 25%
  • Fluid Gold Loan: 25%
  • Bullet Repayment Gold Loan: 35%
• Safety: Pledge of silver ornaments duly confirmed for quality & volume.
• Processing charges: 0.50per cent associated with the Loan amount + applicable GST minimum Rs500/- + applicable GST
• Interest:
  • For almost any Loan amount: 0.50% over the MCLR-1yr
• Others: silver appraiser costs will likely to be compensated by the Applicant.

Eligibility

• Age: 18 years and above
• Occupation: Any specific (singly or jointly) with Steady source of income including: Bank’s Employees, Pensioners. (No proof 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 interest that is monthly become offered.
  • Bullet Repayment Gold Loan: On or prior to the term of this loan/ on closing of account.
• Repayment Period
  • Maximum: 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.
• Proof Identity with proof of Address
• Witness Letter in the event of illiterate borrowers.

Period of Disbursement

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

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

Interest Levels

6.95% p.a.

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