How Can I Get Gold Loan From SBI?

What is the rate of gold loan per gram in SBI?

per gram rates and new schemes of SBI.

Bank’s existing customers can avail the loan upto Rs.

20 lacs by pledge of gold ornaments including gold coins sold by Banks….SBI Gold Loan Details/ एसबीआई गोल्ड लोन का विवरणInterest Rates8.40% – 9.15%Loan Tenure2.5 YearMin.

loan amount₹ 10000/-Maximum loan amount₹ 20 lakh2 more rows.

What is P gold loan in SBI?

SBI Gold Loan Interest Rates Jul 2020SBI Gold Loan Rate7.50% onwardsProcessing Fee0.50% of the loan amount, minimum Rs. 500Loan Tenure3 months to 36 monthsLoan Amount₹ 20,000 to ₹ 20 LakhPrepayment ChargesNil1 more row•Jul 14, 2020

Is Gold Loan Safe?

But if you don’t have the confidence of returning the principal and interest in time, then you should avoid taking a loan against gold,” advises Manglik. Also, gold loans are good in a rising market. However, if gold prices correct drastically during the loan tenure, banks may ask for the payment of the difference.

What documents are required for gold loan?

Document TypeIdentity Proof. Aadhar Card. PAN Card. Valid Driving License, Valid Passport. Voter’s ID Card. Job Card issued by NREGA.Address Proof. Aadhar Card. Driving License. Valid Passport. Voter’s ID Card. Job Card issued by NREGA.

Which bank is best for gold loan?

Best Banks Which Offers Gold Loans in India:Muthoot Finance Gold LoanManappuram Gold LoanSBI Gold LoanHDFC Gold LoanICICI Bank Gold LoanPNB Gold LoanDec 19, 2012

How can I get a loan from gold?

To get a Gold Loan, you can walk into any ICICI Bank branch offering Gold Loan with your jewellery and avail of a Gold Loan for any value from Rs 10,000 to Rs 1 Crore quickly. With our simple and easy documentation process, the loan can be availed of across the counter quickly.

Is gold loan available in SBI?

State Bank of India offers Personal Gold Loans scheme where a customer can avail a loan of up to 20 lakh. … So, SBI Personal Gold Loan scheme will fetch an interest rate of 7.75% for a year. The lender will charge 0.50% of the loan amount and minimum ₹500 (applicable GST on both) as processing fees for the gold loans.

How much gold loan can I get per gram in HDFC?

HDFC Gold Loan CalculatorEligibility CriteriaHDFC Gold LoanGold Loan per gramRs. 2,886 to Rs. 3,528 depending on the purity of goldAge of Borrower21 – 65 yearsMaximum Loan AmountRs. 50 LakhMaximum Loan to Gold Value RatioUp to 75%3 more rows

How can I get gold loan from Muthoot?

The simple procedure that we follow allows:Quick loan disbursal.Minimum loan amount of Rs 1500 with no maximum limit.Pre-payment option-without any penalty.Minimal documentation.In-house gold evaluation.Best customer service with a shorter response time.Safe custody for gold ornaments.

Which bank has lowest interest rate on gold loan?

Gold Loan Interest Rates ComparisonBankGold Loan Interest RatesMax TenureSBI Gold Loan7.50%36 monthsMuthoot Gold Loan12.00%36 monthsManappuram Gold Loan12.00%12 monthsHDFC Bank9.90%24 months9 more rows

What is the procedure to get gold loan from SBI?

One can apply for SBI gold loan by visiting one of their branch offices. Listed below are certain documents required to process your loan application: Gold loan application form. Identity proof (Aadhaar card, PAN card, Passport)

How much gold loan can I get per gram?

Gold Loan Per Gram – SBI, Manappuram, HDFC, Axis, Yes BankGold Loan per gramRs. 2,620 to Rs. 3,202Loan Amount EligibilityRs. 1,000 to Rs. 2 CrLoan as percent of gold valueUp to 75%Purity of gold18 carat to 22 caratType of goldGold jewelry and gold coins of banks of up to 50 grams2 more rows

What is gold loan margin?

The maximum repayment period of SBI’s gold loan can go up to 36 months. The bank maintains a margin of 25 per cent of the value of the gold. … The processing fee includes 0.50 per cent of the loan amount plus applicable GST (Goods and Services Tax).

How much is gold loan per gram in muthoot?

Muthoot Gold Loan Rate Per Gram by Gold PurityGold PurityGold rate per gram- average of past 30 daysMuthoot best Gold Loan per gram22 carat45,5833,41920 carat41,4393,41918 carat37,2952,797Mar 24, 2020

What is gold loan scheme?

Gold loan is a type of secured loan where one pledges their gold articles to avail loan to meet their short-term credit and SBI Gold loan can be availed by anyone who is 18 years with steady source of income. It comes with low interest rate and minimal documentation.

Is gold loan cheaper than personal loan?

Gold loan Is cheaper than personal Loan because financial institution is taking Gold as collateral. Personal loan is un-secured and hence carries higher interest. … The difference between the two is that in case of personal loan, you do not have to give any kind of collateral whereas Gold loan is backed up by your Gold.