If there is a need for money in an emergency, then SBI Personal Gold Loan can be an option. The special thing in this is that you can apply for a gold loan through YONO SBI with very little paperwork and low interest rate. Gold loan is the safest and easiest way to get instant money in today’s time. Let us know how you can apply for gold loan from YONO SBI, what are its benefits.
Benefits of applying with YONO SBI
Through YONO SBI, you can apply for a loan sitting at home. Only 8.25% interest rate can take this loan. There is a discount of 0.75 percent in interest till September 30. Here you will need very little paper work. It takes very less time to complete the loan process and the branch also saves you time.
Gold Loan in 4 Simple Steps
YONO can take gold loan from SBI. First of all you have to apply. You login to YONO account. Here, by going to the menu, click on Loans. Click on the Gold Loan option in it. After that click on apply. Here you have to fill the details of the jewelery (how is the jewellery, quantity, carat, total weight). Along with this, other details such as residential, occupation, net monthly income will also have to be given. After that you have to submit the application. In the second step, you have to go to the branch with the gold. You will also have to carry 2 photos and KYC documents with you. In the third step, you have to sign the document. After this you will get a gold loan in the fourth step.
Who Can Take Loan
Anyone above 18 years of age, who has a source of income, can take a gold loan. Pensioners can also apply. They will not be required to provide income proof.
Which document will be required
For SBI Gold Loan, you have to provide two photographs along with the application. Apart from this, address proof and identity proof will be required.
How much loan can be availed
A minimum loan of Rs 20,000 and a maximum loan of up to Rs 50 lakh can be availed under SBI Gold Loan.
Interest Rate Tenure
SBI is currently offering gold loan to its customers at the lowest rate of 7.5 percent. The normal repayment tenure of the loan is 36 months. The tenor of the Bullet Repayment Gold Loan is 12 months. Along with SBI YONO, you can also apply by visiting SBI branch. The bank will not charge any foreclosure charges or prepayment penalty even if the loan is repaid first.