SBI online: The State Bank of India (SBI), India’s largest state lender, offers Krishi Gold loans. All you have to do is request it on its YONO application. You just need to download the YONO app on your cell phone to take advantage of this quick and easy way to get this loan. You can apply for this loan sitting in your house any time of the day.
The Krishi Gold loan facility is extended by the SBI to all those involved in agricultural activities. It was designed for people to meet all of their financial needs when it comes to the agricultural sector.
The bank says you will have to go to the SBI home branch once to get the loan.
You can also go to the nearest SBI branch with Gold and KYC (Know Your Customer) documents to qualify for the loan.
Characteristics of the gold loan:
– The bank says there are no hidden charges
– The process of obtaining a loan is simple and hassle-free
– Low interest rate according to the claims made by the bank
– Convenient repayment schedules
– The loan facility is available in all rural and semi-urban branches across the country
– The bank takes gold ornaments as collateral to grant a gold loan to Krishi
– Margin according to the Loan To Value (LTV) set by the bank from time to time
– The interest rate is 9.95 per year
Anyone carrying out an agricultural activity.
– Demand loan: 12 months from the date of disbursement of the loan
– Cash credit / Cash right: Limit reviewed at annual intervals and valid for 3 years
– Application form duly completed
– 2 last passport size photos
– Proof of identity – Voter ID card / PAN card / passport / Aadhaar card, / driver’s license, etc.
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– Proof of address: voter ID card / passport / Aadhaar card / driving license etc.
– Proof of agricultural land / cultivation