Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • SBI Gold Loan Reviews

    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am a customer of State Bank of India, so they have approved my personal loan within 3days of time. The required loan amount has been disbursed by State Bank. The rate of interest is nominal with SBI . I am happy with the SBI personal loan services.
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      , imphal
      Reviewed on Sep 20, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The experience was good with SBI while taking my personal loan as they disbursed the loan within 1 week after submitting the documents. Interest rate offered was 11.9% . I visited the bank directly and completed the process . And it is for 5 years tenured i have taken this 2 years before.
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      , madurai
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Best bank for rates"
      0.5 5.0/5 "Blown Away!"
      SBI is the best bank for the rates. However customer service is not good when it comes to SBI. The bank has offered an amount of 2.5 lakhs also the processing fee charged by them was very good. Even foreclosure and part payment options were good at SBI. Its an ongoing loan also foreclosure charges were very minimal it was amounting to rs 1200 to rs 1300.
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      , new delhi
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Good account to use"
      0.5 4.0/5 "Great!"
      I am using the salaried account with State bank of India for more than 3years. The customer service is good with SBI. I don't use SBI net banking or their mobile application. The rate of interest and the processing fee is very low in SBI loan concerns.
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      , guntur
      Reviewed on Sep 18, 2017
    • SBI Personal Loan
      "Very high rate"
      0.5 4.0/5 "Great!"
      SBI rate of interest is relatively high when it comes to personal loan. Rate of interest charged was 14.25% on the other side processing fee charged by them was nil also there was no hidden cost. To top it off, SBI is transparent almost we can find everything in paper nothing hidden. I would like to rate them 4.5 , my only suggestion for them would be they should provide a good interest for the personal loan.
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      , pathankot
      Reviewed on Sep 15, 2017
    • SBI Personal Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      In 4 days of time the state bank of India has disbursed my personal loan. The customer service was good with State bank. The Sbi executives came to my place to collect the documents on assigned date and time. The rate of interest was 12% which was very good with SBI.
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      , ghaziabad
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Good offer in the market"
      0.5 5.0/5 "Blown Away!"
      SBI offered me top up loan when I was applied for home loan, I have submitted separate documents for home loan and personal loan. Finally SBI done the personal loan balance transfer from Bajaj Finserv, SBI gave me 8.7% of interest it is lowest.
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      , pune
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      I have the personal loan with State bank of India and I had taken this loan about eighteen months ago. At that time the interest rate was around 14.5% per annual. SBI processed the loan within just five hours. As I have my salary account with SBI, also my organization is tied up with for more than thirty years, I got such a fast service from them.
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      , dindigul
      Reviewed on Sep 06, 2017
    • SBI Personal Loan
      "Excellent Customer Service"
      0.5 3.0/5 "Satisfactory"
      About a year ago, I approached State bank of India and got the personal loan. Since it had been a year, I could not remember the interest rate but of course the customer service was excellent. But SBI took enough number of days to process the loan. They had not disbursed the amount on time.
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      , mancherial
      Reviewed on Sep 05, 2017
    • SBI Personal Loan
      "Customer satisfactory"
      0.5 5.0/5 "Blown Away!"
      I approached SBI personal loan through online channel, then SBI gave me hassle free service. They have processed my loan within seven days of time. I took the personal loan of 2.5 lakhs, still my loan is live. SBI gave me the interest rate of 11.4% for the tenure of five years. I am glad about SBI service is good.
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      , jaipur
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "Customer Friendly"
      0.5 5.0/5 "Blown Away!"
      My SBI branch located in my office, hence they only have limited customer. Therefore they are taking care of customers in a good way and also response is great. SBI disbursed the amount within 3 to 4 days from their end but rate of interest was higher side at that time.
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      , delhi
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from State bank of India and the process was good in getting the loan through. The interest rate was higher that the private banks, it was around 15% and the processing charges was average. The after loan services is good.
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      , hyderabad
      Reviewed on Aug 31, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      About few years ago I had taken the personal loan from State bank of India. That was my first and last loan at SBI because after that the bank stopped giving the loans to the particular employers. The personal loan process went good and no challenges.
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      , mysore
      Reviewed on Aug 30, 2017
    • SBI Personal Loan
      "Moderate Service"
      0.5 4.0/5 "Great!"
      When it comes to loan services, I am not at all happy with State bank of India. Because they are not considering their long time customers when they are approving the loan. They could have reviewed my payment history and everything but they had rejected my personal loan application, even though I am a customer of SBI for twenty years.
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      , bangalore
      Reviewed on Aug 30, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I only use the online services of SBI. I have never spoken with any customer service executives of sbi till now i have never got any chance to talk with them, but the online application of SBI is really good it is really fine and it is an user friendly application which makes my transactions easy also I dont have any issue with the services offered by SBI till date.
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      , bangalore
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The State bank of India has offered me personal loan with the interest rate of 9%. They have disbursed the loan within 4 days of time. The customer service was very good with Sbi and they gave good response from SBI,. I got the best interest in the market,. The additional charges also very low when compared with others.
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      , hubli
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Not Fair service"
      0.5 4.0/5 "Great!"
      SBI have sanctioned my personal loan within one week because I am holding salary account with the same bank. At the time they gave 11% of interest. They also taken 0.5% of processing fee, I paid full amount then my loan got closed, But SBI have lot of paper works for the loan process.
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      , coimbatore
      Reviewed on Aug 19, 2017
    • SBI Personal Loan
      "Can be better when it comes to process"
      0.5 5.0/5 "Blown Away!"
      SBI is doing good when it comes to personal loan however I am unhappy with their process as it is very lengthy , as I had to visit the branch for anything and everything which is very tedious. Another challange would be, they were in need of guranetor or surety from my company which I felt uncomfortable as I was new to the company.
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      , bangalore
      Reviewed on Aug 18, 2017
    • SBI Personal Loan
      "Looking for better service"
      0.5 1.0/5 "Really Bad"
      SBI response was not good, when I approached them for the personal loan, they didn't give proper response to me. Finally they completed the process in three days. I have submitted lot of documents for loan process after loan got approved, everything became smooth. SBI is good in interest rate and other charges are lower side.
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      , machilipatnam
      Reviewed on Aug 12, 2017
    • SBI Personal Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with State Bank of India and the process to get the loan was easy. The customer services was nice and the documentation was simple. The rate of interest was of 12% with a nominal processing charge. The loan disbursed was also to my satisfaction.
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      , agartala
      Reviewed on Aug 12, 2017
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    SBI Gold Loan is Rated as "Excellent!" by 394 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    SBI Gold Loan

    Overview about SBI Personal Gold Loan

    Gold is an indispensable component in the Indian way of life, with residents owning over 20,000 tonnes of this metal. Apart from playing an intrinsic role in festivities and celebrations, gold is one investment which offers financial liquidity, with it easy to avail a loan by pledging gold. SBI offers its patrons a unique product, SBI Personal Gold Loan, through which they can avail a loan against their gold ornaments/coins. This loan can be used to meet any personal financial requirement, with easy repayment options available.

    Features of SBI Personal Gold Loan

    SBI Personal Gold Loan comes with a host of attractive features, some of which are mentioned below.

    • High loan amount – One can avail loans to the tune of Rs 20 lakhs under this scheme, subject to the gold quantity pledged.
    • Flexible repayment – The loan can be repaid through EMIs, with the maximum period ranging between 30 and 36 months. This provides adequate time for people to sort their finances, with no additional financial burden of repayment.
    • Security – Gold items provided as security are returned on repayment of loan, ensuring one does not lose out on them.
    • Fast approval – This loan is easy to avail, with quick approval and minimal documentation.
    • Low processing fee – SBI charges a low fee to process the loan, making it light on the pocket of a borrower.
    • Prepayment – Borrowers can choose to prepay their loan, with no prepayment charges levied by SBI.

    SBI Personal Gold Loan Interest Rates

    The interest charged by SBI on its gold loan relies on the base rate in place, with the final interest depending on a number of factors. Interest rates for SBI Personal Gold Loan Scheme range between 13.05% per annum and 17.65% per annum, with SBI having the sole discretion to change or modify rates. Borrowers are expected to check the current prevailing rates before applying for a loan.

    Note: Rates mentioned above are as of May 2016 and are liable to change.

    Eligibility Criteria to avail SBI Personal Gold Loan

    Individuals who wish to avail a loan under this Gold Loan scheme need to satisfy a few basic eligibility criteria.

    • Age – A borrower should be at least 21 years old in order to qualify for this scheme.
    • Income – An applicant should have a steady source of income. He/she could be employed in any profession, having sufficient means to repay the loan.
    • SBI customer – An applicant should be an existing customer of SBI, having maintained banking transactions with them in the past.
    • Security – This loan can be availed only by offering gold as collateral.
    • Gold owner – The gold pledged as security should belong to the borrower.

    Documents required for SBI Personal Gold Loan

    • ID Proof – A valid, government approved ID Proof (PAN card, DL, Voter’s ID, etc.)
    • Address proof – A valid, government approved address proof (Utility bill, Passport, DL, etc.)
    • Photographs – Two passport size photographs of applicant
    • Form – Duly filled and signed application form

    Fees and charges associated with SBI Personal Gold Loan

    Unlike other banks, SBI charges a nominal fee to process an application, with this amount depending on the quality of gold offered as collateral.

    Gold quality Processing fee*
    BIS Hallmarked gold ornaments 0.50 % of loan amount, subject to a minimum of Rs 250 and maximum of Rs 500
    Ornaments with no Hallmark
    • For loans upto Rs 25,000 – Rs 250
    • For loans greater than Rs 25,000 – 0.50% of amount, subject to a maximum of Rs 500

    *Note: Applicants will have to pay the applicable GST along with the processing fee.

    SBI Personal Gold Loan FAQs

    1. What is the margin on a SBI Personal Gold Loan?

      A 25% margin is applicable on this gold loan.

    2. What is the minimum amount I can borrow against my gold?

      The minimum loan amount offered under this loan scheme is Rs 20,000.

    3. How can I avail this loan amount?

      Loans can be availed either in the form of an overdraft or a demand loan.

    4. Are the repayment tenures different for Demand Loans and Overdrafts?

      Yes, a demand loan has a maximum repayment tenure of 30 months, while it is 36 months for an overdraft.

    5. When does the repayment process begin?

      The repayment process begins immediately, with a borrower expected to pay EMIs a month after the loan has been sanctioned. For example, if the loan was availed in January, loan repayment should begin by February.

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