State Bank of Hyderabad Gold Loan Features
State Bank of Hyderabad Gold Loan is provided to the customers against gold as security, which is returned when the loan is repaid. This loan can then be used for any purpose by the customer. The Gold Loan is provided at an attractive interest rate and for various purposes. A gold loan is a great way to meet your sudden money demands and requirements. The amount received is usually a certain percentage of the original gold price.
You can visit Dialabank for more information about gold loans.
State Bank of Hyderabad Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan
Gold with 18-24 carat purity
Employment track record and income proofs
State Bank of Hyderabad Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
State Bank of Hyderabad Gold Loan Approval Process
- Go to the State Bank of Hyderabad website.
- Click on ‘Loans’.
- Go to ‘Personal Gold Loan’ or ‘Realty Gold Loan’ as per your choice.
- Click on ‘Apply now’.
- Fill up the form that appears on the screen and click ‘Submit’.
- The bank representatives will be in contact with you to complete the application process by confirming your eligibility and then approving the gold loan.
FAQs on State Bank of Hyderabad Gold Loan Approval Process
✅ What are the modes for repayment of gold loans?
You can go directly to the branch to make a cash payment or you can use the company’s portal to pay online. According to the creditor’s terms and conditions, you can pay by debit card, credit card, etc.
✅ What happens to the gold as collateral?
Once you put up gold as collateral for a gold loan, the gold ornaments or coins are held by the bank or NBFC in its secure vault till the loan amount with interest is repaid in full. If you fail to repay the loan, the institution has the authority to auction your gold to regain the loan amount.
✅ How can I calculate the State Bank of Hyderabad Gold Loan interest rate?
You can easily calculate the interest rates on gold loans in the State Bank of Hyderabad by subtracting the principal amount from the total sum to be paid or you can visit Dialabank and use the gold loan interest rate, calculator.
Table of Contents
- 1 State Bank of Hyderabad Gold Loan Features
- 2 State Bank of Hyderabad Gold Loan Eligibility
- 3 State Bank of Hyderabad Gold Loan Documents Required
- 4 State Bank of Hyderabad Gold Loan Approval Process
- 5 FAQs on State Bank of Hyderabad Gold Loan Approval Process