Today sbi gold loan rate per gram, sbi gold loan rate today,sbi gold loan interest rate 2023, sbi gold loan interest rate 2023, SBI गोल्ड लोन कैलकुलेटर, गोल्ड लोन कैलकुलेटर sbi, सबी गोल्ड लोन प्रोसेस, एसबीआई गोल्ड लोन कस्टमर केयर नंबर, एसबीआई कस्टमर केयर नंबर राजस्थान , एसबीआई कस्टमर केयर नंबर up , SBI Gold loan application , application for gold loan online from SBI , IS SBI Gold loan safe – Gold loan is the easiest way of obtaining a loan from a bank as banks generally provide a cheap interest loan against Gold. People generally find it feasible to take loan against their gold property as it is safe in bank also they are able to raise more money with less interest .
How you can apply for SBI Gold loan ? What is the entire process of obtaining SBI Gold loan and what EMI or interest rate sbi gold loan you have to pay to bank and all related questions related to SBI Gold loan is what we have tried to clear in this article .
Can you apply for SBI Gold Loan without being SBI Customer ?
Yes , any customer or non customer or SBI Bank holding or not holding a savings bank account or current account with the bank can avail for the gold loan facility .
The essential thing that you should be possessing for applying for a gold loan is the a good quality gold valued at 22 Karat or 24 Karat gold checked from a registered asset dealer or property valuer. s
Interest on SBI Gold Loan
The following interest rate on SBI Gold loan is to be paid spread over the MCLR of 1 year for Gold loan on EMI with SBI :
| Scheme | 1 year MCLR | Spread over 1 year MCLR | Effective Interest Rate | |
|---|---|---|---|---|
| Gold Loan EMI based | 8.50% | 1.25% | 9.75% | |
| Liquid Gold Loan ( Overdraft) | 8.50% | 1.25% | 9.75% | |
| 12 Months Bullet Repayment Gold Loan | 8.50% | 0.50% | 9.00% | |
| Scheme | Three Month MCLR | Spread over 3 Month MCLR | Effective Interest Rate | |
|---|---|---|---|---|
| 3 Months Bullet Repayment Gold Loan | 8.10% | 0.55% | 8.65% | |
| Scheme | Six Month MCLR | Spread over 6 Month MCLR | Effective Interest Rate | |
|---|---|---|---|---|
| 6 Months Bullet Repayment Gold Loan | 8.40% | 0.35% | 8.75% | |
Does Interest on SBI Gold loan changes with the EMI every year ?
If you have applied for a gold loan from SBI , the interest charges will be included in your EMI stated by the bank. There will be no changes in the EMI amount whether the interest rate increases or decreases.
The interest rate might vary from year to year . You might be charged a higher amount of next year the interest rate increases.
Different plans for taking Gold loan from SBI
SBI offers Gold loan under two different schemes :
- SBI Personal Gold Loan
- SBI Realty Gold Loan
Under the Personal Gold loan their are separate margins taken by bank while granting the loan where loan on an average is provided at a 30% average valuation of the Gold taken from a registered jeweler or valuer of the gold .
How to check Daily interest rate and EMI through SBI Gold Loan EMI Calculator ?
SBI Offers seamless calculation of your EMI on your any type of loan . If you want to apply for Gold loan from SBI , then you can use the calculator . You should be knowing what is interest rate , loan duration and the loan amount for Gold loan .
As per the market standards , loan rate is already feed in the calculator . You can access the personal gold loan calculator of SBI online on their official website.
What processing fees is to be paid for SBI Gold Loan ?
For applying for a Gold loan from SBI , the processing shall vary depending on the margin and the plan taken . Average processing cost taken for applying the Gold loan is around Rs 200 to Rs 300.
EMI SBI Gold Loan Eligibility
Their is no specific eligibility provided for SBI Gold loan application as you can apply for gold loan as per your needs and as per your gold holdings . You can get the valuation of gold from your registered valuer and also you can apply for gold loan online .
The applicant of gold loan should hold a regular source of income to be able to apply for loan and be able to repay the loan on time .
Maximum and Minimum Amount of Gold Loan from SBI
The Maximum and the Minimum Gold loan amount that can be applied from SBI is Rs 20,000 and maximum can be 50 lakhs. The amount might vary depending on the quality and quantity of gold provided by the applicant .
Documents Required for SBI Gold Loan
The documents required for application of Gold loan from SBI include :
To Apply Loan
- Application for Gold Loan with two copies of photographs.
- Proof of Identity with proof of Address
- Witness Letter in case of illiterate borrowers.
Time of Disbursement
- DP note and DP Note Take Delivery Letter.
- Gold Ornaments Take Delivery Letter.
- Arrangement Letter.
For how long you can apply for SBI Gold loan ?
The maximum duration for which you can avail a gold loan is 12 months . This is due to the fluctuations in the price of gold . So , once you have applied for a gold loan from SBI , then you have to repay the loan within 12 months either in lump sum or either in installments.
Is it safe to take Gold Loan from SBI ?
Yes , SBI is a nationalised government supportive bank and is held partially by the public sector . Obtaining gold loan from the bank is safer as it is backed by Indian government and it holds more secure features compared to any other private bank .
Also , there are minimal conditions for applying for a Gold loan from SBI compared to any other private bank .
What is the difference between taking a Gold loan from a Private company vs Jeweller and a bank like SBI ?
The biggest difference in obtaining a gold loan from SBI compared to any other bank is that your gold safety and its valuation . Private companies , NBFCs and gold dealers might provide you a lower loan amount on your gold compared to the bank where the valuation is done with the help of a registered valuer .
Also , the safety of your gold with banks is more as in case you do no pay the EMI of the private companies your gold might get into a risk of being sold.
Whether you should go for SBI Gold Loan or not ?
SBI Gold loan is available at the most reasonable interest rate where in other private banks or other public sector banks , you might have to pay a higher interest rate or no proper security is provided to your gold .
SBI Gold Loan Video Help
How to consult for SBI Gold Loan ?
For application of Gold loan under any scheme you can consult from the Toll free number of SBI i.e on 1800-11-2211 OR you can give a miss call to 7208933143. The bank agent will call you and will guide you for the entire process on loan application .