SBI Gold Loan, SBI Bank is one of the largest banks in India and offers many types of loans to its customers and one of the most popular loans is gold loan. And to take this loan you get a loan against gold jewelery and this means that the bank can keep your gold jewelery until you repay the loan amount.
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If you want to get this loan quickly then you should go to SBI Bank and apply for gold loan. You can also apply for this loan online and that is very easy. Here are some steps to how to apply fpor this gold loan.
Benefits
In this gold loan you get many features that keep your personal information safe.
- Loan Amount – ₹20,000 to ₹50 lakh.
- Processing Fee – 0.25% of your loan.
- Loan Repayment Period – 12 months to 36 months.
- Prepayment – No prepayment charge
- Security – The gold you have given as security will be returned once the loan is paid off
Interest Rates
SBI Gold Loan interest rates start from 7.30% p.a. SBI can also change it. Before taking a loan, you need to check the current rates.
Gold Loan Scheme for Covid Warriors, with interest rates starting from 7.00% p.a. Before availing this gold loan scheme, you need to check whether you are eligible for this loan or not.
Charges and Fees
SBI charges a processing fee of 0.25% of the loan amount, with a minimum value of Rs. 250 is done. There is no processing fee if you apply through the YONO application.
SBI charges less for application processing as compared to other banks, and the amount depends on the quality of gold provided.
Things You Need to Apply
- Your name
- Your address
- Your date of birth
- Details about your gold jewelry, like how heavy it is and how pure.
- Scanned copies of your ID and proof of address documents.
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Documents Need for a Gold Loan
- Photographs – Two passport size photos
- Form – Fully filled and signed application form
- Address Proof – Electricity bill, passport, driving license, etc.
- Identity Proof – PAN Card, Driving License, Voter ID, etc.
Things to Keep in Mind When Applying for a Online
- Ensure you have all necessary info and docs before starting the application.
- Be sure to answer all of the questions honestly.
- Review your application carefully before you submit it.
How to Apply for SBI Gold Loan?
- Go to the State Bank of India official website and click on the “Apply for Gold Loan” link.
- Enter your basic information like name, address, and DOB.
- Give information about your gold jewelry.
- Your ID and address proof documents.
- Submit your application.
Conclusion:
Applying for a loan from the State Bank of India online is a quick, easy, and secure way. If you are looking for a quick and easy way to get a loan, then you should consider applying for a sbi gold loan from the State Bank of India online.
Also Read – 15 Best Personal Loan Apps in India
FAQs
Q. What is the SBI gold loan rate?
- EMI based gold loan – 9.90%
- 1 year repayment gold loan – 9.15%
Q. Which bank gold loan is best?
A. There is HDFC bank gold loan is best because of its interest rate is very low of anyother bank – 7.60%
Q. Is gold loan safe in bank?
A. Your gold is used as security, making your loan less risky for the bank.
