Gold today is not just used as an adornment, which adds to a ladies' appeal but on the other hand is viewed as an investment model. Individuals regularly jump at the chance to put resources into gold bars and coins and hold it with a specific end goal to get higher returns in future when its rates have risen.A gold loan is a loan, which is secured against gold ornaments. A borrower pledges their gold ornaments with the lender in exchange for funds. Therefore, it is a loan, which is granted against a certain physical security of gold.
Overview Of SBI Gold Loan
State Bank of India is India’s largest government bank and offers some of the lowest interest rates to customers. It has a 20% share of the overall industry in deposits and loan among Indian business banks.
Why Pick SBI GOLD Loan?
SBI Gold Loan offer some of the following benefits – Easy EMI Options, stress-free documentation, competitive interest rates and fast processing of loan.State Bank Of Indiatakes care of all theessential needs. You can get up to Rs 20 Lakh approved and the easy repayment terms are the best features that one can get.
Features of SBI Gold Loan
SBI Gold Loan offers some attractive schemes:
1. Loan Amount–Minimum amount is Rs10 thousand in rural and Rs 20000 in City, you can borrow up to Rs 25 lakhs.
2. Speedy processing – Get Instant approval for your Gold Loans with quick loan processing.
3. Affordable EMI – Get the best EMI that suits your convenience and pocket. Emi tenure is upto 30 months.
Benefits of Applying SBI Gold Loan on Letzbank.com
There are a lot of benefits to apply SBI Gold Loan on Letzbank.com.
1. Wide Selection of Loans – At Letzbank, we collate loan offerings from all the major banks and present them at one page to you. This is a much hassle free method to make comparisons between loans and make a selection on which loan suits your needs.
2. Free of Charge – There is no charge to apply for a gold loan via Letzbank website. In fact, we have made the loan application procedure easier and quicker by collaborating directly with the banks.
3. Instant Quotes – Letzbank.com gets you instant access to car loan quotes from a bank of your choice within seconds.
4. Online Form Application –Submit the gold loan application from the comfort of your home at Letzbank.com website and let us handle the application process for you.
SBI Gold Loan Eligibility
The eligibility to avail SBI Gold Loan and the documents required is as follows:
✔ Minimum age should be 21 years of age.
✔ Anyone with a steady income is eligible.
✔ Application for Gold Loans (as per specified format)
✔ Two copies of photograph of the borrower(s)
✔ Gold Ornaments Take Delivery Letter (as per specified format)
✔ Witness Letter in case of illiterate borrowers (as per specified format)
✔ Arrangement Letter (as per specified format)
SBI Gold Loan Interest Rates
✔ Get gold loan at just 12.50% per annum.