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SBI Gold Loan: Apply for gold loan via SBI YONO app to get 0.75% discount on interest rate

SBI Gold Loan Interest Rate, SBI YONO Gold Loan Offer: SBI said that customers can now apply for a gold loan through the SBI YONO app

Abhinav Ranjan Abhinav Ranjan @abhinav_1108
New Delhi Updated on: August 06, 2021 23:15 IST
sbi gold loan interest rate
Image Source : INDIA TV

SBI Gold Loan: Apply for gold loan via SBI YONO app to get 0.75% discount on interest rate 

SBI Gold Loan Offer, SBI YONO Gold Loan Interest Rate 2021: SBI Personal Gold Loan: State Bank of India, the country's largest lender, is offering gold loans or loans against gold at a concession of 0.75 per cent. The bank said that one can borrow a gold loan at 7.5% interest rate. The concession of 0.75 per cent on the prevailing interest rate will be offered to customers till  September 30 this year.

The bank said that customers can now apply for a gold loan through the SBI YONO app. The state-run lender is offering additional benefits to customers for applying through YONO SBI app. 

  1. Application for loan from the comfort of your home
  2. Lowest interest rate at 8.25% (0.75% concession is available up to 30.09.2021)
  3. Less paper work
  4. Less processing time
  5. Less in-branch waiting

SBI Gold Loan via YONO App in 4 easy steps:

  1. Login to your YONO account
  2. On the home page, click on the menu (three lines) on the top extreme left
  3. Click on loans
  4. Click on Gold Loan
  5. Click on Apply Now
  6. Fill in ornament details ( type, quantity, Carat and Net weight) along with all other details available in drop down ( Residential Type, Occupation Type), fill the Net Monthly Income and submit the application
  7. Visit branch with gold to be pledged. Carry 2 photos and KYC documents
  8. Sign documents
  9. Get loan

SBI Gold Loan: Who can avail 

1. Individuals over 18 years of age with steady source of income including

2. Pensioners (No Proof of income required)

SBI Gold Loan: Documents required

1. Application for Gold Loan with two copies of photographs

2. Proof of Identity with proof of Address

SBI Gold Loan amount: Minimum Rs 20,000 | Maximum Rs 50 lacs

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

SBI Gold Loan Interest Rate: At present, SBI is offering gold loan to the customers at lowest interest rate of 7.5%

SBI Gold Loan Tenure: 36 months (12 Months in case of Bullet Repayment Gold Loan- a product having no repayment obligation during the loan tenor)

Meanwhile, the bank has also waived-off the foreclosure charges and pre-payment penalty for customers.

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