Table of Contents
What is the rate of gold loan per gram in SBI?
SBI issues a Gold Loan per gram rate of ₹ 3,506 to ₹ 4,621 in line with the current gold rate….SBI Gold Loan Key Features – Apply Online.
| SBI Gold Loan Interest Rate | 7\% per annum – Updated Dec 15 2021 |
|---|---|
| The purity of Eligible gold | 18 carat to 22-carat gold |
Which bank is best for gold loan per gram?
Gold Loan Per Gram – SBI, Manappuram, Muthoot, HDFC, Axis, Yes Bank & IIFL
| Bank / NBFC | Rate Per Gram | Interest Rate |
|---|---|---|
| Axis Bank Gold Loan | ₹ 3,506 to ₹ 4,621 | 10.00\% |
| SBI Gold Loan | ₹ 3,506 to ₹ 4,621 | 9.75\% |
| Indian Bank Gold Loan | ₹ 3,506 to ₹ 4,621 | 7.50\% |
| Bank of Baroda Gold Loan | ₹ 3,506 to ₹ 4,621 | 10.25\% |
Is SBI good for gold loan?
SBI Bank Gold Loan is most popular for agriculture loan on gold as it offers the lowest interest rate on agricultural gold loan starting at 7.50\%. Gold Loan interest rate in State Bank of India for regular borrowers is higher than the rate offered by the bank on loans for agricultural purposes.
Is SBI Gold loan Safe?
Security – Gold items provided as security are returned on repayment of loan. Fast approval – This loan is easy to avail, with quick approval and minimal documentation. Low processing fee – SBI charges a processing fee of 0.25\% of the loan amount.
What is the process of gold loan in SBI?
The following are the documents which are necessary for processing your loan.
- Application Form for Gold Loans.
- Two copies of photographs of the borrower(s)
- Proof of Identity such as PAN card, Aadhar card.
- Proof of Address such as voter ID, ration card.
What is SBI Liquid gold loan?
State Bank of India Gold Loan is a secured loan where you pledge gold jewellery or asset to borrow a loan. The bank has Liquid Gold Loan scheme, which is an overdraft facility. You can also take a loan against gold solely for agricultural purpose. SBI offers flexible repayment options.
How is gold loan calculated?
The gold loan amount depends on the gold loan per gram rate and purity of gold. So, currently, the gold loan per gram is ₹ 47,260. On 50 gram gold, you can get 75\% of the amount ₹ 3,190.
Is there any processing fee for SBI gold loan?
Fees and charges associated with SBI Gold Loan SBI charges a processing fee of 0.25\% of loan amount, subject to a minimum of Rs 250 and no processing fee if applied through YONO. *Note: Applicants will have to pay the applicable GST along with the processing fee.
Is SBI gold loan Safe?
How do I cancel my SBI Gold loan?
To close a loan account:
- Click Requests > Closure of Loan A/C. A Closure of Loan A/C page appears.
- Select the loan account you wish to close.
- Select the transaction account which will be debited to close the loan. Figure 1 shows sample settings.
- Click [Submit].
Which bank is better for gold loan?
Low Interest Gold Loan Rates: Top 5 Banks
| Banks | Interest Rate | Tenure |
|---|---|---|
| HDFC Bank | 9.00\% | 3 months to 24 months |
| Yes Bank | 9.99\% | 6 months to 36 months |
| IndusInd Bank | 10.00\% | 3 months to 24 months |
| Fincare Small Finance Bank | 10.99\% | 3 Months to 9 Months |
What is the rate of gold loan in SBI?
SBI offers a gold loan at a rate of INR 4,200 to INR 4,800 per gram, with the highest loan to value of 75\% for 22KT jewelry. How can I get a gold loan from SBI?
What is SBI’s agricultural Gold Loan program?
SBI offers a special agricultural gold loan program for applicants who are involved in farming and need money to cover their expenses. SBI’s agricultural gold loan interest rate is smaller than its standard gold loan rate. SBI gold loan can be availed to meet an urgent need for cash by pledging one’s gold ornaments or gold coins as collateral.
What is a gold loan in India?
A Gold Loan is a secured loan against the actual Gold in an asset kept as collateral security. Gold loans provided by banks such as SBI and other financial institutions are safer than unorganized lenders. How much is a gold loan per gram in Muthoot?
How is gold loan eligibility calculated?
The gold loan eligibility is calculated based on a few factors. One of these includes the current average price per 10 gram, which will help banks calculate how much one can borrow for their purchase. Once the maximum amount of loan is ascertained, an equated monthly EMI is derived upon using interest rates and the tenure of the loan.
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