SBI 2021 Gold Lending Interest Rate, SBI Gold Lending Process, SBI Gold Lending Interest Rate, Yono Gold Lending Processing Fee

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Image source: INDIA TV

SBI Gold Loan: Apply for a Gold Loan through the SBI YONO App to get 0.75% interest rate reduction

SBI Gold Loan Offer, SBI YONO 2021 Gold Loan Interest Rate: SBI Personal Gold Loan: The State Bank of India, the largest lender in the country, offers gold loans or loans against gold with a concession of 0.75%. The bank said that one can borrow a gold loan at an interest rate of 7.5%. The concession of 0.75% on the current interest rate will be offered to customers until September 30 of this year.

The bank said customers can now apply for a gold loan through the SBI YONO app. The state-run lender offers additional benefits for clients who want to apply through the YONO SBI app.

  1. Apply for a loan from the comfort of your own home
  2. Lowest interest rate at 8.25% (0.75% concession is available until 30.09.2021)
  3. Less paperwork
  4. Less processing time
  5. Less waiting in the branch

SBI Gold Loan via YONO App in 4 easy steps:

  1. Log into your YONO account
  2. On the home page, click on the menu (three lines) at the top far left
  3. Click on loans
  4. Click on Gold Loan
  5. Click Apply Now
  6. Fill in the details of the ornament (type, quantity, carats and net weight) as well as all the other details available in the drop-down menu (type of residence, type of profession), fill in the net monthly income and submit the request
  7. Visit the branch with gold to be pledged. Bring 2 photos and KYC documents
  8. Sign documents
  9. Get a loan

SBI Gold Loan: Who Can Benefit

1. Persons over 18 with a stable source of income, including

2. Retirees (No proof of income required)

SBI Gold Loan: Documents required

1. Gold loan request with two copies of photographs

2. Proof of identity with proof of address

SBI Gold loan amount: Minimum Rs 20,000 | Maximum Rs 50 lakes

Margin: 25% (35% in case of Bullet Redemption Gold Loan)

SBI Gold Loan Interest Rate: At present, SBI offers gold loans to clients at the lowest interest rate of 7.5%

SBI Gold Loan Duration: 36 months (12 months in case of Bullet Repayment Gold Loan – a product with no repayment obligation during the term of the loan)

Meanwhile, the bank has also waived foreclosure fees and prepayment penalties for customers.

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