Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 SBI Gold Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 14.90% Floating
    0.5% + applicable tax One time fee
    25K - 15L
    5 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    SBI Gold Loan is Rated as "Excellent!" by 377 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 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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  • SBI Gold Loan Reviews

    • 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , agartala
      Reviewed on Aug 12, 2017
    • SBI Personal Loan
      "Recommendable product"
      0.5 4.0/5 "Great!"
      I am an existing of SBI, I am holding salary account with them. So I have taken personal loan in the year of 2013. I took the amount of Rs. 1lakhs, almost I paid half of the amount. SBI interest rate was also satisfactory, I am fine with their service.
      Was this review helpful? 0
      , lucknow
      Reviewed on Aug 10, 2017
    • SBI Personal Loan
      "High in charges"
      0.5 3.0/5 "Satisfactory"
      State bank of India is high in charges for the loan process. For the personal loan, the interest rate is very high and apart from the interest rate, there is some annual charges applicable. So I did not avail any kind of loans from SBI till date.
      Was this review helpful? 0
      , thane
      Reviewed on Aug 05, 2017
    • SBI Personal Loan
      "Delayed Service"
      0.5 2.0/5 "Expected more"
      I availed personal loan from State bank of India quite long time ago. They did not process the loan on time also they had taken too much of time to sanction it. Their services are very delayed and there was no proper assistance from the bank side.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Aug 02, 2017
    • SBI Personal Loan
      "Fair service"
      0.5 3.0/5 "Satisfactory"
      It is easy to go with SBI for the loan for the government employees. I took personal loan from SBI and the rate of interest is 12%. But the time when I availed the loan, interest rate was around 13.3 % now it had been reduced to 12%. Also it is a floating type of interest. But I am not happy about the process because they were taking too much of time to done with the process.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 02, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      First thing SBI Bank is very much secured. Great thing is, SBI is best for the personal loan. I had taken personal loan from them. They disbursed my loan amount within a day after applying. The rate of interest they have offered is 11% and the processing fee they have charged was around 2000 rupees approximately.
      Was this review helpful? 0
      , jamnagar
      Reviewed on Aug 01, 2017
    • SBI Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I tried applying for a personal loan with State Bank of India. It was a average experience. They had too much of a procedure and it was lengthy too. The documentation was much as well. So I cancelled my application, also I did not take the loan finally from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 23, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the process for it was smooth. I did not have much of a documentation process and also I did not get the loan on time. The rate of interest and processing charges were very much normal too. But on the other hand, after loan services were very much hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • SBI Personal Loan
      "Improvement needed in service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process need to be quick and fast with SBI. The customer service and the response need to be focused a lot. They are talking too much of time to disburse the personal loan. They took around 10 to 15 days of time to disburse my loan and they call it as express in disbursing the loan. As I hold a salary account with SBI they have offered me with low interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • SBI Personal Loan
      "Be Helpful"
      0.5 3.0/5 "Satisfactory"
      Once I made an inquiry with SBI for the personal loan. Actually I am a long term customer of SBI, I hold salary account with them for 6 years. So I approached the same bank for the loan, but they asked me three questions and they said that they are unable to provide the loan. So I am not happy with SBI.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from SBI, they took only 5 days for the disbursement. Rate of interest charged was 11.5% and processing fee was niL. My salary account is with SBI so there were no issues with the documentation process and the EMI was around 11k approximately.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Had a great experience of availing a personal loan from SBI couple of years ago. Documentation part was very simple and the processing of the loan was completed in just 4 days. Rate of interest was 11% & processing fees were NIL the loan amount I had taken is 2.50 lakhs at that time I had taken and this was for a tenure of 5 years.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Very poor"
      0.5 1.0/5 "Really Bad"
      I had taken a personal loan from SBI and they were very slow in the process. I did not have a problem with the bank but they have taken 15 to 20 days to disburse my loan amount the rate of interest they have offered me is 14% they have charged any processing fee also and the EMI I payed around 9000 rupees and I have pre closed this loan
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Personal loan process was really smooth. I got a loan of 5.7 lakhs and I am happy that State bank of India is supportive when ever I approach them. The interest rate offered was 12.40% and the processing fees was nil . The after loan services are hassle free I have taken this loan for five years and the loan got disbursed with in a span of 4 days of time.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a earlier experience for a personal loan with State Bank of India. The customer services are good and the process was smooth. The rate of interest and processing charges was normal. I had no hassles with the after loan services too. Overall good.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 11, 2017
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