New Delhi: The State Bank of India (SBI) offers a gold loan at an attractive interest rate. Borrowers will have the option to repay according to their convenience. “Get the refund option the way you want. Choose SBI Gold Loans and do it with the best party deals. Apply now, ”SBI tweeted.Also Read – SBI Navratri, Durga Puja Offers: Avail Car, Personal, Gold Loans with Zero Processing Fee, Check Interest Rates
SBI offers a gold loan at an interest rate of 7.50 percent. “Do you want a gold loan?” Interest rate as low as 7.50 percent, ”SBI tweeted. Also Read – SBI’s ‘Kavach Personal Loan’ Program Launched for Covid Patients. All you need to know
The SBI Gold Loan offers flexible repayment options, in fine repayment, overdraft facility and EMI facility, according to details provided by the main public sector lender. Also Read – SBI Loan: Need Money Now? Check State Bank of India Interest Rates for Home, Car, Personal, Overseas Education, and Gold Loans
“Low interest rates. Plus, we charge interest on a declining balance daily,” SBI said.
Low processing fees, no hidden fees or administrative costs, SBI said.
“Minimal documentation… something you’ve always wanted. No prepayment penalty. Reduce your interest charge and make the best use of your excess funds by prepaying the loan, ”SBI said in a statement.
You can apply for an SBI gold loan on the website of State Bank of India. The whole process has three steps – 1. get eligibility, loan offer and full application.
According to an IANS report, securitization of gold loans saw a healthy recovery after fiscal 2019 thanks to the growth of the NBFC’s gold loan portfolio and the very low levels of delinquency which increased investor appetite.
Gold loan securitization volumes were around Rs 4,400 crore in the first half of FY2022 (similar to volumes seen in the first half of FY2021), representing 10% of overall domestic securitization volumes against 6% observed during fiscal year 2020 (pre-Covid period), according to the IANS report. said.