SBI Gold Loan Key Features
|SBI Gold Loan Interest Rate||7.0% per annum|
|SBI Gold Loan Rate Per Gram||Gold Loan Rate Per Gram today is ₹ 5121|
|Age of Borrower||18 – 75 years|
|Maximum Loan Amount||Up to 1 crore|
|Maximum Loan to Gold Value Ratio||Up to 75%|
|The purity of Eligible gold||18 carat to 22-carat gold|
|Maximum Loan Tenure||Up to 36 months|
|Interest Rate||7.5% onwards|
Advantages of SBI Gold Loan
- You can avail Loan up to Rs.1 Crore or more & up to 75% of value for any purpose.
- You get 100% Safety & Security of your Gold Jewelry.
- Get your Loan processed in less than 30 minutes.
- Enjoy Anytime Liquidity.
- Simple documentation and fast processing.
How Much Can I Get Through SBI Gold Loan?
As per the most advanced gold prices, SBI offers a gold loan per gram today of ₹ 5121. The highest SBI gold loan rate per gram now is ₹ 5121 for 22-carat jewelry calculated at a maximum LTV of 75% and average gold loan rates of the last 30 days in 2020 are ₹ 5121 of 22 carats.
SBI Gold Loan Per Gram
Updated - Gold Loan Per Gram Rate w.e.f 1 Oct 2020
|Gold Weight||Gold Purity
About SBI Gold Loan
State Bank of India (SBI) was founded in 1955 with its headquarters in Mumbai, Maharashtra. It has 15,500 branches all over the World. It provides many banking products and financial services according to the needs of the customer. There are various loan schemes from which borrowers can raise funds, but for instant finance, Gold Loan is the best option.
There are so many banking and non-banking financial organizations that provide a gold loan, but the SBI gold loan is the best. You can use this amount of gold to fulfill any of your personal needs. It can be used for educational purposes or to boost up your business. Besides that, it can be used to pay your medical bills or for wedding purposes too. Thus, the Bank doesn’t put any restriction on the use of the amount of the Loan.
SBI Bank Gold Loan Eligibility
Eligibility of a gold loan is way easier when compared to personal loans or any other loan:
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL score||Above 500|
SBI Gold Loan Documents Required
The documents should be mainly from the following options.
|Identity Proof||Aadhar Card/Pan Card/ Passport/ Voter ID|
|Residence Proof||Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.|
|Agriculture Proof ( only if applicable)||Agriculture Land Ownership Proof|
|Photographs||2 Passport sized coloured|
SBI Gold Loan Interest Rate, Fees and Charges
A Gold Loan can meet all your initial short-term and long term financial obligations. The rate of interest that you will be filled with depends on the whole loan sum, as well as the quality/purity of the gold you are to have as collateral with the bank. Gold Loan interest rates allowed by the bank are more moderate compared to other loans because it is a completely secured loan.
|SBI Gold Loan Interest Rate||7.0% onwards|
|Processing Fee||0.5% of the loan amount|
|Loan Tenure||3 months to 36 months|
|Prepayment Charges||1% of the outstanding principal amount|
Gold Loan: Anyone with a steady source of income can avail of a gold loan by pledging his gold ornaments.
Types of SBI Bank Gold Loan
Multi-Purpose gold loan: Mainly for agriculture purposes, the multi-purpose loan comes into handy to repay various kinds of debts.
SBI Gold Loan Apply Online
Online Process: Through the Online process, the applicant gets the opportunity to avail of the service of the gold loan at the comfort of their home. Just follow the following steps:
- Visit Dialabank
- Fill an application form with all required fields.
- Our Relationship Manager will call you back to assist through the entire process.
- You will have to submit documents in the bank.
- Your Loan will be approved in just some minutes.
Apart from the above process, you can directly call us at 9878981144.
SBI Gold Loan EMI Calculator
|Rate of Interest||6 months||1 Yr||2 Yrs||3 Yrs|
How to Pay SBI Gold Loan EMI?
Your SBI gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with SBI, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the SBI account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilized in the event that you have a non-SBI account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-SBI account at your closest SBI Loan Center. A new arrangement of PDCs should be submitted in a timely manner. It would be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
SBI Bank Gold Loan Contact Number
In case of any assistance required please contact on the number 9878981144.
Gold Ornaments Accepted by SBI
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat cannot be used for availing a gold loan.
Uses of SBI Gold Loan
The funds acquired by availing the Gold Loan service can be used for a number of purposes such as:
- To finance personal expenses for weddings, travel, payment of higher education fees, and etc.
- For all your business financial needs such as buying raw material, expansion of business, and etc.
- You can also avail of a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
FAQs About SBI Gold Loan
SBI Gold Loan is a secured loaning scheme that uses pledged gold as collateral security. SBI Gold Loan can be used for any personal purpose and need. You can fill an inquiry form at Dialabank’s digital platform and access all the loan details from our relationship manager.
You can easily get a Gold Loan from SBI by pledging your gold. The loan amount is dependent on the purity of your gold and the rate of interest at 7.0% per annum. You will need to visit the bank branch with basic KYC documents and your gold. Alternatively, you can apply online with Dialabank and avail personalized assistance from the comfort of your home.
You can avail of a gold loan of Rs 5121 per gram from SBI, depending on the quality of your gold.
The SBI Gold Loan is provided by the Banks /NBFC provides you with funds against your gold ornament. The amount depends upon the gold weight.
The gold loan interest rate in SBI is 7.0% per annum.
To check your SBI Gold Loan status online just visit the SBI’s online portal and fill in the form your Gold Loan application details
The gold loan interest rate in SBI can be calculated by simply subtracting the principal amount from the total amount to be paid.
You can avail a maximum of up to 75% of the gold jewellery’s market value on gold loan from SBI Bank.
The loan tenure of your SBI gold loan is up to 36 months. You will be required to renew your loan after 1-year completion tenure.
A processing fee of up to 0.5% of the loan amount is applicable to the SBI Bank gold loan.
Pre-payment charges up to 1% of the outstanding loan amount is charged by SBI.
You can renew your SBI Gold loan online by simply logging into your SBI app account with the credentials and renew your gold loan under the Gold Loan section by entering the loan account details.
You can pay the SBI Gold loan interest online using online payment options like net banking, debit cards, or through the i-mobile app.
If you do not pay your SBI loan amount for 3 months then the bank will warn you against further default. In case the defaults continue, the gold ornaments kept as a security with the bank might be sold.
You can apply for an SBI Gold loan moratorium online by logging in with your ID and password or can also visit the bank personally.
SBI Gold loan cannot be repaid through credit cards as per RBI Guidelines.
Table of Contents
- 1 SBI Gold Loan Key Features
- 2 Advantages of SBI Gold Loan
- 3 How Much Can I Get Through SBI Gold Loan?
- 4 About SBI Gold Loan
- 5 SBI Bank Gold Loan Eligibility
- 6 SBI Gold Loan Documents Required
- 7 SBI Gold Loan Interest Rate, Fees and Charges
- 8 Gold Loan: Anyone with a steady source of income can avail of a gold loan by pledging his gold ornaments.
- 9 Types of SBI Bank Gold Loan
- 10 SBI Gold Loan Apply Online
- 11 SBI Gold Loan EMI Calculator
- 12 How to Pay SBI Gold Loan EMI?
- 13 SBI Bank Gold Loan Contact Number
- 14 Gold Ornaments Accepted by SBI
- 15 Uses of SBI Gold Loan
- 16 FAQs About SBI Gold Loan
- 16.1 ✅ What is the SBI Gold Loan?
- 16.2 ✅ How Can I Get Gold Loan From SBI?
- 16.3 ✅ How much Gold Loan Can I get per gram from SBI?
- 16.4 ✅ How Does SBI Gold Loan work?
- 16.5 ✅ What is Gold Loan interest rate in SBI?
- 16.6 ✅ How to check gold loan status in SBI?
- 16.7 ✅ How to calculate gold loan interest in SBI?
- 16.8 ✅ What is the maximum gold loan amount I can avail on gold loan from SBI Bank?
- 16.9 ✅ What is the loan tenure of SBI Bank gold loan?
- 16.10 ✅ How much processing fee is applicable on SBI Gold loan?
- 16.11 ✅ What are the charges for pre-payment in SBI gold loan?
- 16.12 ✅ How to renew SBI Gold Loan online?
- 16.13 ✅ How to pay SBI Gold loan interest online?
- 16.14 ✅ What if I can’t pay the interest on SBI Gold loan for 3 months?
- 16.15 ✅ How can I apply for EMI moratorium on SBI Gold loan?
- 16.16 ✅ How to pay SBI Gold loan through credit card?