New Delhi: The State Bank of India (SBI) offers a gold loan at an attractive rate of interest. Borrowers will have the option to repay according to their convenience. “Get the repayment option as you wish. Choose SBI Gold Loans and do it with the best festive offers. Apply now,” SBI tweeted.Also Read – SBI Offers Two Wheeler Loan at Rs 256 EMI. Check interest rate, eligibility, how to apply
SBI offers a gold loan at an interest rate of 7.50%. “You want a gold loan? Interest rate as low as 7.50%,” SBI tweeted. Also Read – SBI Navratri, Durga Puja Offers: Available Car, Personal Loans and Gold Loans with No Processing Fees, Check Interest Rates
The SBI gold loan has flexible repayment options, bullet repayment, overdraft facility and EMI facility, according to details provided by the leading public sector lender. Also Read – Launch of SBI’s “Kavach Personal Loan” Scheme for Covid Patients. Everything you need to know
“Low interest rates. Plus, we charge interest on a daily declining balance,” SBI said.
Low processing fees, no hidden charges or administrative fees, SBI said.
“Minimal documentation…something you’ve always wanted.” No prepayment penalties. Reduce your interest burden and make the best use of your excess funds by repaying the loan early,” SBI said in a statement.
You can apply for an SBI gold loan from the State Bank of India website. The whole process has three steps – 1. Obtain Eligibility, Loan Offer and Complete Application.
According to an IANS report, securitization of gold loans saw a healthy recovery after FY2019, driven by growth in the NBFC gold loan portfolio and very low levels of delinquencies which increased investor appetite.
Gold loan securitization volumes were around Rs 4,400 crore in the first half of FY2022 (similar to volumes seen in the first half of FY2021), accounting for 10% of overall domestic securitization volumes , up from 6% in fiscal year 2020 (pre-Covid period), the IANS report said.
