SBI Gold Loan Details, Apply, Interest Rate 2024

SBI Gold Loan Details, Apply, Interest Rate, Eligibility, Document Required and customer care number more details 2023: In this article we will provide you information about SBI Gold Loan. If you are in urgent need of money and do not have money, then you can take advantage of SBI Gold Loan in this situation.

When we take a loan by pledging our gold jewelery or ornaments, it is a gold loan. SBI Bank provides loans to the customers at attractive interest rates. In this article, we will know in detail what is SBI Gold Loan, what is SBI Gold Loan Interest Rate 2024, how can we apply for this loan, etc. So you read this article till the end.

About SBI Gold Loan

Gold loan comes under the category of a secured loan i.e. to take this loan, you have to give collateral or security to the lender. In a gold loan, you have to pledge your gold jewelery or ornaments as security. The bank checks the customer’s CIBIL score before giving the loan . If your credit score is very good and you fulfill all the conditions of State Bank of India gold loan, then you can take advantage of the bank’s attractive gold loan interest rate .

You can apply for SBI Gold Loan both online and offline. The bank offers various types of gold loan schemes according to the needs of the customers, in which the loan amount, interest rate etc. can be different. You can use the loan amount taken under Gold Loan for any of your purposes.

Before applying for gold loan, you should calculate your loan eligibility with the help of SBI gold loan calculator so that you can get an idea of ​​what is going on per gram rate of gold (SBI Gold loan per gram rate today) and How much loan can you get up to Rs.

SBI Gold Loan Features & Benefits

• Any person can take SBI Gold Loan to meet any kind of expenses.
• The bank offers a variety of SBI Gold Loan Schemes, which have different benefits.
• Under SBI Gold loan, you can get a maximum loan of up to Rs 50 lakh.
• The loan amount given under gold loan is given on the basis of the value of your gold.
• You can apply for this loan online by visiting the bank’s official website or by visiting your nearest bank branch.
• There is a separate Kisan Gold Loan scheme for farmers, which can be availed by any farmer.
• You can calculate your loan eligibility with the help of SBI Gold Loan Calculator .

SBI Gold Loan Eligibility

SBI Bank offers a variety of Gold Loan Schemes whose eligibility varies from:

SBI Personal Gold Loan Eligibility:

• Applicant’s age should be 18 years or above.
• Any person with a source of continuous income (single or jointly) including bank employees, pensioners can apply for this loan.

Eligibility for SBI Realty Gold Loan:

• Applicant’s age should be 18 years or above.
• Both existing and new SBI home loan customers can apply for this loan.

Eligibility for Multi Purpose Gold Loan:

• All types of farmers are eligible for this loan.
• Tenant farmers, oral lessees and sharecroppers are eligible for this loan.

Documents Need for SBI Gold loan

Before applying for a gold loan, you should keep all your documents together so that whenever the bank asks for documents from you, you can show them all the documents immediately. You can also get more information about the document by visiting your nearest bank branch.

The documents for gold loan are as follows:

Documents for SBI Personal Gold Loan and SBI Realty Gold Loan :

• Application
• Two photos of the customer
• Proof of identification
• Proof of address
• Witness letter in case of illiterate borrowers
• At the time of disbursement:
• DP Note and DP Note Delivery Letter
• Gold jewelery delivery letter
• Order letter
• Other Documents

Documents for Multi Purpose Gold Loan:

• Application
• Two copies of the photograph of the borrower
• KYC
• Evidence of land holdings or allied activities
• Other Documents

SBI Gold loan interest rate 2023

At present SBI Gold Loan interest rate starts from 8.15% p.a. Before applying for a gold loan, you need to be aware of its interest rate. If you are an existing customer of the bank and your credit history is very good, then you can take advantage of the attractive interest rates of the bank.

You should compare gold loan interest rates of different lenders to make it easier for you to get the cheapest gold loan. Gold loan interest rate affects your loan EMI.

Read Also: IIFL Gold Loan

SBI Gold Loan Policy

The bank offers several types of SBI Gold loan schemes, which you can know in detail here:

• SBI Personal Gold Loan
• SBI Realty Gold Loan
• Multi Purpose Gold Loan

SBI Personal Gold Loan:

The interest rate of this SBI Gold Loan starts from 8.15% p.a. You can see the features of this loan below:

• Under this loan, you can get a gold loan of minimum 20 thousand rupees and maximum up to 50 lakh rupees.
• As a security, you have to pledge your gold.
• The processing fee for this SBI Gold Loan is 0.25% of the loan amount (minimum Rs.250) + applicable GST.
• The maximum loan tenure is up to 36 months.
• Margin:
• Gold Loan: 25%
• Liquid Gold Loan: 25%

Read Also: Manappuram Gold Loan

SBI Realty Gold Loan:

The features of this gold loan are as follows:

• Under this scheme of SBI Gold Loan, you can get a loan of minimum Rs 50,000 and maximum up to Rs 50 lakh.
• To avail this loan, you have to mortgage your gold ornaments.
• The processing fee for this gold loan is 0.25% of the loan amount with a minimum of Rs.250 + applicable GST.
• You can take this loan for a maximum loan tenure of 36 months.
• The SBI Gold Loan interest rate for this loan starts from 7.70% p.a.
• Margin:
• SBI Realty EMI Gold Loan: 25%
• SBI Realty Liquid Gold Loan: 25%
• SBI Realty Bullet Repayment Gold Loan: 35%

Multi Purpose Gold Loan:

This is an agricultural scheme (SBI Agriculture Gold loan) run by the bank for the farmers. You can see the features of this SBI Gold loan here:

• Any farmer can take advantage of this loan for dairy, poultry, fisheries, pig farming, sheep rearing, machinery acquisition, land development, irrigation, horticulture, transportation of agricultural produce etc. and all agricultural activities.
• The tenure of this loan is up to 12 months.
• You can get a loan based on the value of your gold.
• The processing fee for this loan is 0.30% of the loan limit + GST.
• Interest rate (SBI Gold loan interest rate Agricultural) : One year MCLR + 1.25%

SBI Gold Loan Apply

If you fulfill all the conditions of this loan, then you can apply for it both online and offline. You can also apply for the loan by calling the SBI Gold Loan customer care number. Follow the steps given below to apply:

SBI Gold loan Apply Online

• To apply online, you have to first visit the official website of the bank, sbi.co.in.
• After visiting the website, click on the option of Gold Loan in the option of Loans .
• After clicking, you will get all the gold loan schemes that the bank offers.

• Click on the gold loan you wish to apply for.
• Click on Apply Now option to apply .
• The loan application form will open in front of you.
• Enter the requested information in it and click on submit.
• After you submit the form, the bank staff will contact you and the loan process will be issued further.

How to apply offline?

• To apply offline, you have to first go to your nearest SBI Bank branch.
• Go to the bank branch and contact the bank official who will provide you complete information about the gold loan.
• Then your gold will be assessed and you will be informed that you are eligible for a loan of up to Rs.
• You have to fill the form and submit your required documents.
• If your loan is approved then the loan amount will be transferred to your bank account.

SBI Gold loan EMI Calculator

Before applying for a gold loan, you should calculate your loan EMI with the help of SBI gold loan calculator so that you can get an idea of ​​how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan by visiting the official website of the bank with the help of Gold loan EMI calculator .

Gold loan EMI depends on factors like loan amount, interest rate, loan tenure. You can find the cheapest gold loan by comparing between various gold loan EMI calculators. There is a question in the mind of many people that how much loan is available on 10 grams of gold, then you can get information about it with the help of gold loan calculator.

SBI Gold Loan Customer Care Number

If you are facing any problem in taking the loan or you want to get other information regarding this loan, then you can get information by calling SBI Gold Loan customer care number.

• Toll Free no.: 1800 425 3800 / 1800 11 2211 or 080-26599990

My Last Thought:

In this article, we have provided you complete information about SBI Gold loan. Any person who is in urgent need of money can take advantage of this loan.

Hope friends, you have found this article informative. If you liked this article then please share it as much as you can.

FAQs on SBI Gold Loan