SBI Gold Loan
SBI Gold Loan can be availed by submitting applicant’s owned gold, gold ornaments or gold coins as a collateral or security with SBI. SBI shall safely return the submitted collateral on the timely repayment of the loan amount. The loan application process is hassle-free and loan approval along with disbursal is instant. The interest rate on personal gold loan offered by SBI is 7.50% onwards.
SBI Gold Loan Per Gram Eligibility
SBI gold loan per gram gives you an estimate of the loan amount you can get against your gold jewellery. You will get the loan based on the purity and gold price of your jewellery adjusted for loan to value ratio. SBI gold loan per gram eligibility depends upon purity of the gold, your age and gold quantity.
As per the latest gold prices, SBI offers a gold loan per gram of ₹ 2,528 to ₹ 3,090. Highest SBI gold loan rate per gram today is ₹ 3,090 for 22 carat jewellery calculated at a maximum LTV of 75% and the average gold loan prices of last 30 days in 2021 is ₹ 4,578 of 22 carat.
SBI Gold Loan Eligibility
- Anyone who is 18 years above and Below 70 years.
- Must have gold Jewellery of 18 carat to 22 carat.
- an applicant should be an Indian Resident.
SBI Gold Loan Details
- Purpose of loan – Gold loan amount can be used to meet a variety of financial needs including education, marriage, medical bills and so on. However, the money should not be used for speculative activities
- Quantum of the loan – Loan amount can be between Rs. 20,000 and Rs. 50 lakh
- Repayment tenure – The repayment tenure for the different schemes are:
|SBI Gold Loan Schemes||Loan Tenure|
|Gold Loan||36 months|
|Liquid Gold Loan||36 months|
|Bullet Repayment||12 months|
- SBI gold loan per gram – SBI gold loan per gram rate will be communicated at the time of application
- Gold items – The gold loan will be given against gold ornaments. They will be checked for weight and purity by bank nominated appraiser
- Margin – The margin across various schemes are:
|SBI Gold Loan Schemes||Margin|
|Liquid Gold Loan||25%|
|Bullet Repayment Gold Loan||35%|
SBI Gold Loan – Fee & Charges
|Processing Fee||0.25% of amount + GST|
|Gold appraisal Charges||Shared at the time of application|
At the time of application the following documents are required –
- Duly Filled application Form
- 2 pass port sized photograph
- Applicant’s KYC documents to establish Identity and Address
- Witness Letter in case of illiterate borrowers
At the time of disbursement the following documents are required:
- Demand Promissory Note & Demand Promissory Note Take Delivery Letter
- Gold Ornaments Take Delivery Letter
- Arrangement Letter
interest rate upto For e.g. – 12% to 85% … it’s veri companies to companies like e.g. Muthoot Finance ,IIFL, HDFC Bank, ICICI Bank, Canara Bank, Axis Bank, Manappuram Finance, Federal Bank, Bank of Baroda, SBI etc