To handle a short lived money crunch, a person has varied choices. These embrace taking a gold mortgage, a private mortgage. Gold loans can assist one tide over a monetary emergency. You can get a mortgage shortly with minimal paperwork. SBI Gold Loan will be availed by a pledge of gold ornaments together with gold cash offered by Banks with minimal paperwork and low-interest price. “Apply for a #GoldLoan with SBI and enjoy exciting deals like 7.50% Interest Rate, Nil Processing Fee, and many more,” SBI mentioned in a tweet.
Here is all it’s essential find out about SBI Gold Loan:
Eligibility Criteria
Age: A borrower needs to be not less than 18 years previous so as to qualify for this scheme.
Profession: Any particular person (singly or collectively) with a Steady supply of revenue together with Bank’s Employees, Pensioners. (No Proof of revenue required)
Features of SBI Gold Loan
Maximum Loan Amount: ₹50 lakh
Minimum Loan Amount: ₹20,000
Low processing charge – SBI costs a low charge to course of the mortgage, making it gentle on the pocket of a borrower. 0.25% of the Loan quantity + relevant GST minimal Rs250/- + relevant GST and Nil if utilized by YONO.
Gold objects supplied as safety are returned on compensation of mortgage, guaranteeing one doesn’t lose out on them.
Margin
Gold Loan: 25%
Liquid Gold Loan: 25%
Bullet Repayment Gold Loan: 35%
Repayment Mode
Gold Loan: The compensation of Principal and Interest might be commenced from the month following the month of disbursement.
Liquid Gold Loan: Overdraft Account with transaction facility and month-to-month curiosity is to be served.
Bullet Repayment Gold Loan: On or earlier than the time period of the mortgage/ on the closure of the account.
Repayment Period
Gold Loan: 36 months
Liquid Gold Loan: 36 months
Bullet Repayment Gold Loan: 12 months
Documents
To Apply for Loan
Application for Gold Loan with two copies of pictures.Proof of Identity with proof of Address.Witness Letter in case of illiterate debtors.Time of Disbursement
DP observe and DP Note Take Delivery Letter.Gold Ornaments Take Delivery Letter.Arrangement Letter.SBI Gold Loan rate of interest
Gold Loan(all variants): 7.50%
Realty Gold Loan- A Gold Loan Product solely for SBI Housing Loan Customers (all variants): 7.3%
Missed Call, SMS facility for SBI Gold Loan
To know extra about SBI Gold Loan, you may give a missed name on 7208933143 or SMS GOLD at 7208933145.
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