Want to avail gold loan via YONO SBI? Check for details

FPJ Web DeskUpdated: Thursday, August 05, 2021, 03:23 PM IST
article-image
SBI Gold Loan can be availed by pledge of gold ornaments including gold coins sold by banks with minimum paper work and low interest rate. |

SBI Gold Loan can be availed by pledge of gold ornaments including gold coins sold by banks with minimum paper work and low interest rate.

Applying for loan via YONO SBI :

· Application for loan from the comfort of your home

· Lowest interest rate at 8.25 percent (0.75 percent concession is available up to 30.09.2021)

· Less paper work

· Less processing time

· Less in-branch waiting

Avail gold loan using YONO SBI in 4 easy steps:

1. Apply for loan

a. Login to your YONO account

b. On the home page, click on the menu (three lines) on the top extreme left

c. Click on loans

d. Click on Gold Loan

e. Click on Apply Now

f. 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

2. Visit branch with gold

a. Visit the branch with gold to be pledged , 2 photos and KYC documents

3. Sign document

4. Get loan

Who can avail SBI Gold Loan:

· Individuals over 18 years of age with steady source of income including

· Pensioners (No Proof of income required)

Documents required for availing the loan:

· Application for Gold Loan with two copies of photographs

· Proof of Identity with proof of Address

Loan amount: Minimum – Rs. 20,000 | Maximum – Rs. 50 lakhs

Margin – 25 percent (35 percent in case of Bullet Repayment Gold Loan)

Rate of interest – At present, SBI is offering gold loan to the customers at lowest interest rate of 7.5 percent.

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

Where to apply for this loan:

· YONO

· SBI Branch

Foreclosure fee – The bank has also waived-off the foreclosure charges and pre-payment penalty for customers

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

India has third highest number of startups, says Union Minister G Kishan Reddy

India has third highest number of startups, says Union Minister G Kishan Reddy

Unlocking the Benefits of Using a Live Bitcoin Price Chart for Trading

Unlocking the Benefits of Using a Live Bitcoin Price Chart for Trading

Budget 2023: Here's how everyday Roti, Kapda, aur Makaan expenses will be affected

Budget 2023: Here's how everyday Roti, Kapda, aur Makaan expenses will be affected

Indian entrepreneur robbed in Madrid, stranded in Spain without passport; issues video appeal to...

Indian entrepreneur robbed in Madrid, stranded in Spain without passport; issues video appeal to...

Ahead of crucial talks, IMF spots Rs 2 trillion breach in Pakistan's budgetary estimates

Ahead of crucial talks, IMF spots Rs 2 trillion breach in Pakistan's budgetary estimates