SBI Gold Loan Interest Rate Jan 2021: Get SBI Gold Loan Eligibility, Documents Required, Steps on How to Apply for SBI Gold Loan 2021? Here!

by Ashwin S | Updated Jan 30, 2021 17:37 IST

social social social social SBI Gold Loan Interest Rate Jan 2021: Get SBI Gold Loan Eligibility, Documents Required, Steps on How to Apply for SBI Gold Loan 2021? Here!

SBI Gold Loan Interest Rate 2021 is a great opportunity for many households who are in dire need of instant cash and The SBI Gold Loan offers a great interest rate which is certainly suitable for many households. All the details associated with the SBI Gold Loan Eligibility, Documents Required, SBI Gold Loan Interest Rate 2021, SBI Gold Loan interest, SBI Gold Loan interest rate 2021 today, and everything you need to know about the SBI Gold Loan is here in this article. Continue reading in here to know the complete information from SBI Gold Loan Rate per gram to SBI Gold Loan per gram rate here in this article by scrolling down below.

SBI Gold Loan Interest Rate 2021

The SBI Gold Loan offers plenty of offers to the customers who wish to convert their jewels into cash for a period of time by paying interest at a certain calculated rate. Thanks to the new SBI Gold Loan Interest Rate 2021, many people are choosing SBI. However, the interest remains a deciding factor for many households when it comes to gold loans and even loans, in general. You can check out the latest updates about the SBI Gold Loan Interest Rate 2021 along with all things you need to know about the SBI Gold Loan 2021 in here below.

Here are the key highlights tabulated about the SBI Gold Loan Interest Rate 2021 scheme:

Age      

18 years and above

Minimum SBI Gold Loan Amount    

Rs. 20,000

Maximum SBI gold Loan Amount   

Rs. 50 Lakh

SBI Gold Loan Interest Percentage

7.3% p.a. onwards

SBI Gold Loan Tenure             

Up to 36 months

Gold Items accepted under sbi loans

Gold ornaments verified for quality and quantity

SBI Gold Loan Processing Charges

Nil if applied through YONO

0.25% + GST | Min. Rs. 250 + GST

SBI Gold Loan 2021 Details and Aspects

  • Purpose of SBI Gold loan – SBI Gold loan amount can be utilized to run into a variety of economic needs of a household or an individual comprising education, wedding reasons, medical bills and so on. However, you cannot use the money for hypothetical deeds.
  • Quantum of the SBI Gold loan – SBI Gold Loan amount can be anywhere between Rs. 20,000 and Rs. 50 lakh.
  • The repayment tenure for SBI Gold Loan – The repayment tenure for SBI Gold Loans for the different schemes are listed below:

SBI Gold Loan Schemes

Loan Tenure

SBI Gold Loan

36 months

SBI Liquid Gold Loan

36 months

SBI Bullet Repayment Gold Loan

12 months

  • SBI gold loan per gram – The SBI gold loan per gram rate will be discussed at the time of application submission.
  • Gold items – The SBI gold loan will be given in contradiction of gold ornaments. They will be tested for weight as well as purity by bank designated evaluator.
  • Margin – The margin transversely varies for numerous schemes such as:

SBI Gold Loan Schemes

Margin RATES

SBI Gold Loan

25%

SBI Liquid Gold Loan

25%

SBI Bullet Repayment Gold Loan

35%

SBI Gold Loan Interest Rates 2021

SBI gold loan interest rate 2021 may also fluctuate based on the scheme. We have listed out the SBI Gold Loan rate per gram today 2021 in here below. Well, the schemes are as follows:

SBI Gold Loan Schemes

1 Year MCLR

Spread

Effective SBI Interest Rate

SBI Gold Loan (all variants)

7%

0.5%

7.5%

Realty SBI Gold Loan – Only for SBI Housing Loan Customers

7%

0.3%

7.3%

SBI Gold Loan Fee Structure 2021

Depending on certain factors, your Gold Loan rate of interest in SBI may vary along with the SBI Gold Loan charges. Check out the charges for SBI Gold Loan in here:

Category

Amount

Processing Fee for Sbi gold loan

0.25% of amount + GST | Min Rs. 250
Nil, when applied through YONO

Gold Appraisal Charges for SBI gold loan

Shared at the time of SBI Gold Loan application

Eligibility for SBI Gold Loan 2021

Any individual who is above 18 years of age and possesses a stable source of revenue may apply for SBI gold loan 2021. We have also listed out the other details about the documents required for SBI Gold Loan 2021. 

Documents Required for SBI Gold Loan 2021

At the time of SBI Gold Loan application, the bank may require the following:

  • Duly filled SBI Gold Loan application form
  • 2 recent photographs
  • KYC documents in order to establish the applicant’s address and identity
  • Witness Letter

At the time of payment of SBI Gold Loan amount, below documents may be required but not limited:

  • Demand Promissory Note, as well as Demand Promissory Note, Take Delivery Letter
  • Arrangement Memo
  • Gold Ornaments Take Delivery Memo

Steps to Apply for SBI Gold Loan 2021

Anyone’s who’s interested in applying for an SBI Gold Loan 2021 may need to pay a visit to their nearby branch to apply for SBI Gold Loan. Kindly bring all the documents with you in order to ensure a smooth SBI Gold Loan application process.

Comparison of Gold Loan Interest Rates 2021

Here's a comparison of SBI Gold loan interest rates and other interest rates:

Lender

Gold Loan Interest Rate

Loan Amount

SBI Bank

7.30% onwards

Rs. 20,000 to Rs. 50 lakh

Axis Bank

13% onwards

Rs. 25,001 to Rs. 25 Lakh

SBI

7.50% onwards

Rs. 20,000 to Rs. 50 Lakh

Muthoot Fincorp

11.99% onwards

Rs. 1,500 to Unlimited

ICICI Bank

10% onwards

Rs. 10,000 to Rs. 1 Crore

HDFC Bank

9.90% onwards

Rs. 25,000 to Unlimited

Disclaimer: The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

SBI Gold Loan Interest Rate 2021 - FAQs

1. What is the gold loan interest rate in SBI?

7.00% to 7.50% is the Gold Loan interest rate in SBI.

2. How can I get gold loan from SBI?

You need to pay a visit to the nearby SBI branch to avail SBI Gold Loan. The minimum loan amount one can take is Rs 20,000 and the maximum is Rs 50 lakh, according to SBI.

3. Does SBI provide gold loan?

Yes, SBI offers loans against gold with simple documentation, quick processing, and no hidden charges. 

4. Is gold loan a good option?

The answer to the 'Is gold loan a good option' is purely subjective.

5. What is liquid gold loan in SBI?

Liquid Gold Loan: Overdraft Account with transaction convenience and monthly interest is to be completed. 


Trending News