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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.
- Apply for a loan from the comfort of your own home
- Lowest interest rate at 8.25% (0.75% concession is available until 30.09.2021)
- Less paperwork
- Less processing time
- Less waiting in the branch
SBI Gold Loan via YONO App in 4 easy steps:
- Log into your YONO account
- On the home page, click on the menu (three lines) at the top far left
- Click on loans
- Click on Gold Loan
- Click Apply Now
- 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
- Visit the branch with gold to be pledged. Bring 2 photos and KYC documents
- Sign documents
- 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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