SBI Gold Loan : SBI is giving discount on gold loan, know how to apply, SBI is giving discount on gold loan, know how to apply
How to Apply for Gold Loan
- SBI Gold Loan can be availed with less paperwork.
- No need to wait at the bank branch.
- Login to SBI YONO account and get gold loan.
Gold loan is one of the best options to meet the financial needs in emergency. The best part about gold loan is that you do not need a good credit score or any income proof to avail it. SBI Gold Loan can be availed by pledging gold jewelery including gold coins sold by banks with minimal paperwork and low interest rates.
There are many benefits of applying for a loan through YONO SBI. Using YONO SBI, you can get a Gold Loan in 4 easy steps.
1. How to Apply for Loan
You can apply for a loan from the comfort of your home.
Minimum interest rate of 8.25% (0.75% discount is available till 30 September 2021)
less processing time
No need to wait in bank branch
Login to your YONO account.
On the home page, click Menu (three lines) in the top left
Click on Loan.
Click on Gold Loan.
Click on Apply Now.
Fill in the jewelery details (Type, Quantity, Carat and Net Weight) along with all other details available in the dropdown (Residential Type, Business Type), Enter Net Monthly Income, and submit the application.
2. Visit the bank branch with Gold.
Visit the branch with pledged gold, 2 photographs and KYC documents.
3. Sign the document
4. Get a loan.
Who can avail SBI Gold Loan?
Persons above 18 years of age with stable source of income including pensioners (no proof of income required).
Application for gold loan with two copies of photographs
Provide proof of identity along with proof of address.
Specify the loan amount.
Minimum amount – Rs 20,000
Maximum amount – Rs 50 lakh
SBI Gold Loan Interest Rate
Currently, SBI is offering gold loans to customers at a minimum interest rate of 7.5 percent.
SBI Gold Loan Tenure
36 months (12 months in case of Bullet Repayment Gold Loan – a product with no repayment obligation during the loan tenure)
Where to apply for Gold Loan?
You can apply for the loan on your YONO app or at your SBI branch.
Foreclosure charges – The bank has also waived foreclosure charges and pre-payment penalty for customers.
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