South Indian Bank Gold Loan Mumbai
South Indian Bank is a private sector bank of India. The bank was founded in 1929. V.G Mthew is the C.E.O of the bank. The bank provides so many financial products to the customers at very low rates of interest. These products include banking (online, offline), credit cards, insurances and wealth management. In the category of loans gold loan is the most sold financial product. In a gold loan, the customer pledges his/her gold to the bank as a security and gets the loan amount from the bank at some rate of interest.
Gold loan is a financial product provided by so many banks and non-banking financial companies to the customers where a customer can get a loan amount from the bank at very easy rates of interest. Like other secured loan in the gold loan, the customer keeps his/her gold ornaments in the bank as a security. The pledge gold is returned to the customer when he/she returns the loan amount back to the bank with the interest rate on time.
Eligibility for South Indian Bank Gold Loan Mumbai
- The age of the applicant should not be less than 18 years.
- Furthermore, the applicant should be a citizen of India.
- After that, the age of the customer should not be more than 65 years.
Quality of Gold
- The gold should be of 18 karats or 22 karats.
- All the gold in the form of jewelry is accepted.
- After that gold coins are also acceptable but the weight of the coin should be less than 50 grams.
Documentation for South Indian Bank Gold Loan Mumbai
- Three colored photographs
- After that one proof of residence and one identity proof is required.
- In identity proof Aadhar card/Voter ID card/ Passport/Driving License is valid.
- In the proof of residence Aadhar card/Voter ID card/ Passport/Driving License/Ration Card/Water and Electricity bills for the last three months with the name of an applicant are valid.
How to Apply for South Indian Bank Gold Loan Mumbai
Fill the online application form.