SBI Gold Loan Facility: Features

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SBI Gold Loan Facility: Features

A gold loan has become very popular this year, owing to the cash crunch in all households caused by Covid-19. It has been successfully allowing people to pay for necessary things, such as weddings, house repairs etc. The prices of gold have been fluctuating drastically this year, also owing to the deadly virus sweeping across the world. However, this has not stopped the people of this country from investing in a gold loan.

The SBI Gold Loan has been a saviour for people. It provides gold loans at a low interest rate with a long tenure of 30 months. It can be availed by any salaried, or self-employed individuals as long as they fuflill the eligibility criteria.

The interested person should be at least 18 years of age. He or she has to have a job for at least 2 years with a minimum salary of Rs. 25,000. SBI also has provisions for some documents that are required to be produced to the bank for verification. These documents are more or less similar to any other bank’s requirements, although, it may slightly vary.

An interested individual should be able to produce his or her ID proof or Address proof such as Aadhar Card, PAN Card, Voter ID etc. He or she should also provide bank statements of the last six months, salary slips of the last three months, Rent Agreements and Utility Bills.

Upon verification of the documents and gold, experts at SBI will decide a loan amount, based on the demand and market price of gold, among other factors such as your CIBIL score. A special gold loan by SBI is provided particularly to farmers, at a lower interest rate. SBI also provides a low interest rate to anyone who has taken a loan in the past and repaid the amount successfully.

More information can be found on the SBI website for gold loans. It is advisable to look through before moving forward with the SBI Gold Loan.

Taking a loan can be very stressful as there are many questions that people ponder over when it comes to taking a loan. Dialabank comes to your aid and clears all your confusion. So stop fretting and call 9878981144.

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