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SBI gold loan comes with various attractive features. Following are the key features offered on SBI bank gold loan:
|Loan amount||Rs. 20,000 to up to a maximum of Rs. 50 Lakhs|
|Tenure||Up to 36 months|
|Rate of interest||7.80% p.a.|
|Processing fee||0.25% of the loan amount (minimum Rs. 250) + GST; Nil if applied through YONO|
|Margin||25% - 35%|
|Security||Gold ornaments and coins|
|Minimum age||18 years and above|
The SBI gold loan interest rate is linked to the 1 year MCLR of the bank. The current 1 year MCLR of SBI is 7.50%, effective from 15th July 2022. SBI gold loan rate of interest till 30th September 2022 is mentioned below:
|Scheme||1 Year MCLR||Spread Over 1 Year MCLR||Effective Rate of Interest|
|SBI Personal Gold Loan||7.50%||0.30%||7.80% p.a.|
|SBI Realty Gold Loan - For SBI Housing Loan Customers||7.50%||0.30%||7.80% p.a.|
You will be required to submit the following documents to apply for SBI gold loan:
The eligibility criteria for SBI gold loan are simple and easy to meet. The SBI gold loan eligibility criteria are mentioned below in detail:
Below is the comparison of SBI gold loan with gold loans of other lenders in terms of the loan amount, gold rate of interest, processing fees, and repayment tenure:
|Lender||Rate of Interest (Per Annum)||Processing Fees||Maximum Loan Amount||Maximum Tenure|
|SBI Gold Loan||7.80%||0.25% of loan amount + GST||Rs. 50 Lakhs||36 months|
|ICICI Gold Loan||10% - 17.95%||1% of loan amount + GST||Rs. 1 Crore||12 months|
|HDFC Gold Loan||7.60% - 16.81%||1% of loan amount + GST||Rs. 1 Crore||24 months|
|Axis Bank Gold Loan||14.5%||Up to 0.50% of loan amount + GST||Rs. 25 Lakhs||36 months|
|Kotak Mahindra Bank Gold Loan||8% - 17%||Up to 2% of loan amount + GST||Rs. 1.5 Crores||48 months|
|Muthoot Finance Gold Loan||12% - 22%||1% of loan amount||No maximum limit||12 months|
Following are the charges applicable for state bank gold loan:
You can apply for an SBI gold loan through our website. Just follow the steps given below:
You can also apply for the SBI bank gold loan through any of the methods mentioned below:
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 9.69% p.a. You can avail of emergency loan ranging from Rs 15000 to Rs 1.5 crore against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
SBI gold loan interest rate is 7.80% p.a. till 30th September 2022.
SBI gold loan per gram rate today is Rs. 2,900 to Rs. 3,450.
Yes. SBI is the best public sector bank in India. SBI safely returns the submitted collateral (gold ornaments and/or coins) on the timely repayment of the loan amount. It is safe to avail of an SBI gold loan. Just make sure to repay the borrowed loan amount on time.
SBI gold loan can be repaid via any of the following modes:
You can use the SBI gold loan calculator or EMI calculator to know your EMI before applying for the loan to make repayment easier.
No. The SBI gold loan renewal can be done offline by visiting the nearby SBI branch.
No. A PAN card is not mandatory to avail of a gold loan.
No. As the lending bank usually has an appraiser for evaluating the gold ornaments/coins to be pledged for a gold loan, you are not required to submit any receipt.
SBI is the best gold loan bank as you do not require any income proof to get a gold loan from SBI.
SBI takes up to 3 days to convey its decision on retail loans, including the gold loan. As soon as the loan is approved, the amount is disbursed within a few days’ time. You can expect instant processing of the gold loan after the bank has checked the gold for weight and purity.
You can visit the website of SBI or download the SBI loan app and check the status of the SBI gold loan under the specific loan product. Just enter your reference number and registered mobile number to check the status of your loan.
You can dial 1800-11-2211 to contact the SBI Gold Loan customer care number and enquire about the SBI gold loan and its application process.