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    SBI Gold Loan

    We found 1 SBI Gold Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 14.90% Fixed
    1% One time fee
    24K - 15L
    5 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    SBI Gold Loan is Rated as "Excellent!" by 340 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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 service tax 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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  • SBI Gold Loan Reviews

    • SBI Personal Loan
      "Happy with the service"
      0.5 5.0/5 "Blown Away!"
      I am happy with State bank of India for the personal loan which I had taken recently. The entire loan process was good and I had no issues with them in getting the loan. Interest rate is quite satisfactory. Their response and customer service is good.
      Was this review helpful? 0
      , dimapur
      Reviewed on May 23, 2017
    • SBI Personal Loan
      "Quick & excellent deal"
      0.5 5.0/5 "Blown Away!"
      State bank of India has offered me a good deal on the rate of interest. I got a rate of around 14% and it is a floating rate. I have taken a personal loan and it was a express loan. I got the loan when I needed it. The processing charges was also normal.
      Was this review helpful? 1
      , dindigul
      Reviewed on May 18, 2017
    • SBI Personal Loan
      "Satifactory but Interest rate has to be reduced"
      0.5 4.0/5 "Great!"
      I am a privilege customer of SBI, they sent me the message stating pre approved loan got approved without documents. Hence I reached SBI for the personal loan within five working days they have disbursed the amount. They have mentioned interest rate would 9.5% but if we calculate its coming around rate 17% per annum, SBI has to reduce the interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2017
    • SBI Personal Loan
      "Bitter experience"
      0.5 1.0/5 "Really Bad"
      Its been 2 years I had a personal loan with State bank of India. I had very bitter experience with SBI, because they purposely charged extra charges and late fee in my personal loan . The Rate of interest is very high , which is very equalized with private banks. I don't refer SBI at any cost. Overall it is good not choosing SBI for any products.
      Was this review helpful? 0
      , chennai
      Reviewed on May 15, 2017
    • SBI Personal Loan
      "Average service needs to be improved"
      0.5 5.0/5 "Blown Away!"
      Thrice I had taken personal loan from State bank of India. They normally take around 2 weeks of time to disburse my loan. I am happy with loan amount. Sbi need to be more little more flexible in their interest rates with the salaried employees as I got the normal interest rates. The documentation process should be over looked for the one who already has an existing loan with the same bank. Need to be improve with their Data base too.
      Was this review helpful? 0
      , faridabad
      Reviewed on May 03, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having salaried account with State Bank of India. Based on that, my personal loan got approved with state bank of India. They just took 3 days of time to disburse my personal loan. The rate of interest and the processing fee was nominal with State Bank of India.
      Was this review helpful? 2
      , shillong
      Reviewed on Apr 21, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got the personal loan from SBI within 16 months of time. They took around 7 days of time to disburse the loan. Documentation process was completed within couple of days. It would be great if they decrease the rate of interest in future, the processing charged levied was around 2k which is pretty nominal. In a nutshell, it was a very good service provided by SBI.
      Was this review helpful? 0
      , midnapore
      Reviewed on Apr 21, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      This is about my SBI personal loan which I had taken against my credit card. The loan amount is 1.35 lakhs, service taxes were amounting to rs 4400. Rate of interest was 0.99% .EMI is 4400 this is for 3 years. Within 2 months my loan process would get completed . I had applied for this personal loan online and in the next 2 to 3 days of time my loan was sanctioned successfully.
      Was this review helpful? 2
      , chennai
      Reviewed on Apr 19, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      They have processed my personal loan amount with in 2 days of time. The verification part and the paper work is good SBI The interest rate is 13.85% The processing fee and charges was nil for me. They have just charged for stamp duty that is 200 rupees Iam totally fine with the service. Overall good
      Was this review helpful? 5
      , vadodara
      Reviewed on Apr 12, 2017
    • SBI Personal Loan
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      In 2013 I availed a personal loan from State bank of India. At that time the interest rate was 13.% which is very normal when compared with other banks. Also they had not taken too much of time to disburse the loan amount rather they had completed the loan process within few days. Overall services of SBI is satisfactory.
      Was this review helpful? 5
      , jamshedpur
      Reviewed on Apr 12, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      STATE BANK OF INDIA had offered me a personal loan. They took a very minimumal time to process my loan application. I had taken the loan amount of 5.5 lakhs , it is given for five to seven years not sure EMI is 14k they had charged some processing fee and charges but I don't remember, another 2 to 3 years to go to close this loan.
      Was this review helpful? 3
      , salem
      Reviewed on Apr 04, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from SBI and they were super fast in the process. They offered me the loan as needed the rate of interest they have offered me is 14% they have not charged any processing fee nor any charges on the loan amount is for 1 lakh EMI is 2200/- verification and document collection was done on time.
      Was this review helpful? 5
      , kolkata
      Reviewed on Mar 29, 2017
    • SBI Personal Loan
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      SBI disbursed my personal loan within two or three days but now -a- days SBI is taking two to three months to disburse the amount. Recently I had taken a top up on my SBI personal loan with the same interest rate which they had provided on the old loan, but I am not completely aware of SBI loan process they should give clear information to the customers.
      Was this review helpful? 1
      , tirupati
      Reviewed on Mar 09, 2017
    • SBI Personal Loan
      "Very good services"
      0.5 3.0/5 "Satisfactory"
      Earlier I had taken a personal loan from State Bank of India and the process for this loan was pretty long. It took a month for the disbursement. They also have too much of paper work. The rate of interest and processing charges was the same as other banks. The can be more swift.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Mar 06, 2017
    • SBI Personal Loan
      "Customer Service has to be Improved"
      0.5 2.0/5 "Expected more"
      I am a bit disappointed with SBI service, They did not give proper response to me for my personal loan application. I had taken a loan amount of Rs. 3 Lakhs with an interest rate of 17% and with the processing fee of Rs.13,000 for the tenure of 3 years. Everything is good with SBI, it would be great if they provide satisfactory service to its customers.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 15, 2017
    • SBI Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I had opted to take a personal loan from HDFC Bank, actually I got a call from HDFC Bank regarding the personal loan .However I received a message post which I had placed a request for the same. Later they had approved my loan., Document verification happened, but later I had visited the branch to submit some of the documents which was pending. The rate of interest what they had offered is 11.69% which is much better when compared with other banks. Additionally, they had deducted processing fee along with insurance for an amount of 3000. My EMI will start from the month of March which is approx 11k,
      Was this review helpful? 3
      , pune
      Reviewed on Feb 14, 2017
    • SBI Personal Loan
      "REcommandable for Rural Area"
      0.5 5.0/5 "Blown Away!"
      One year before I have taken personal loan with SBI Bank, the loan amount of rs 3 lacs with the tenure of 5 years. The bankers offered me EMI as 7000. I was directly visited the bank and submitted my documents. They had required simple documents. Interest rate was little bit high, they has taken around 10 days for loan disbursement.
      Was this review helpful? 4
      , eluru
      Reviewed on Feb 06, 2017
    • SBI Personal Loan
      "Very Good"
      0.5 3.0/5 "Satisfactory"
      Iam holding a salaried account in STATE BANK OF INDIA and the facilities are good.. We can transfer the money to any bank there is no charges. No charges for the debit card.Net banking facility is customer friendly and adding all services in one account
      Was this review helpful? 0
      , lucknow
      Reviewed on Feb 04, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have the salaried account and savings account with SBI bank . I submitted document for the personal loan . Every thing went on smooth Customer service and the responsiveness are good with the bank.Rate of Interest is 13% Iam satisfied. Its been 2 years now for my PL.
      Was this review helpful? 1
      , jhunjhunu
      Reviewed on Feb 04, 2017
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The loan processing is very fast and quick with STATE BANK OF INDIA. As I had taken loan before 15 years. Its over All is good with Central bank be it service or processing and everything is absolutely fine with them.It was good before now it is not.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 02, 2017
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