The loan that is given against gold, is known as Gold Loan. This includes the gold ornaments of the borrower excluding the diamond articles and mangal sutra. TIn the event that you need cash for quick costs and hope to have the capacity to pay it back for the time being, at that point this kind of loan may be a decent choice. In general, the interest rate on these loans is lower than on personal loans since this is a relatively low-risk loan for lenders as they hold your gold as collateral. The loan can be affirmed, over the counter, in a matter of minutes or only a couple of hours. In the event that you are presently jobless or don’t have a decent credit score, you will at present be qualified for this sort of loan. State Bank of Mysore Gold Loan will be the best option.

Advantages of taking a Gold loan:-

Easy and Hassle-free Process
Approval in 30 minutes
Simple Documentation
Dedicated Assistance
No salary certificate or credit card history is required
Lowest Interest Rate

Interest Rate of Gold Loan:

Generally, the gold loan is available at the interest rate of 11.5% to 14.5%
ROI for tenure less than 1 year is also available at 1%
Processing fees equal to 2000
The borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay the complete borrowed amount in a single shot

Check Your Eligibility:

- Age: 21 years and above
- Profession: Anybody with a Steady source of income including Bank’s Employees, Pensioners

Documents

Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
Address proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
Signature proof ( Passport/ PAN Card/Banker’s verification/ cheque).
2 passport size photographs

Know about the terms and conditions:

Foreclosure Charges- charges that are to be paid when the loan is closed before the tenure is completed.
foreclosure charges can be up to 1%. The minimum loan tenure is 6 Months.
So foreclosure charges after 6 months are 0.
Charges for late payment of loan Amount
2% p.a. as penal interest over and above the applicable rate of interest.

State Bank of Mysore Gold Loan

Gold Loan @ 7%

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What is Gold Loan?

Interest Rate

Eligibility & Documents

Terms & Conditions