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Old 31st January 2018, 02:59 PM
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Default State Bank Of Travancore Jewel Loan

I am customer of State Bank of Travancore (SBT) and planning to take gold loan from this bank searching for details. Will you provide Features and details of SBI Gold Loan along with Gold Loan Interest Rate also tell about Processing Fees of non-hallmarked ornaments of this bank?
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Old 31st January 2018, 03:00 PM
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Default Re: State Bank Of Travancore Jewel Loan

State Bank of Travancore (SBT) is a nationalised bank that traces its roots back to the Travancore Bank Limited, sponsored by the erstwhile Princely State of Travancore

Gold Loan

The State Bank of India offers Gold Loans of up to Rs.20 lakhs to its existing customers against their gold valuables

Features of SBI Gold Loan

The existing customers of the SBI bank can avail this loan and it is not sold to anybody else.
Loan can be availed for a maximum amount of Rs.20 lakhs.

The minimum amount of loan which can be availed is Rs.10,000 in rural and semi-urban areas and Rs.20,000 for metros and urban areas.

So the applicant can borrow any amount of the loan as per his requirement as long he stays within the specified minimum and the maximum limits of the loan

Gold ornaments or jewelry are to be pledged to the bank for availing the loan. Gold coins issued by SBI can also be pledged to avail a loan under this scheme

SBI Gold Loan Interest Rate

Interest Rate
2% + 1yr. MCLR = 11.05%

Minimum Loan Amount
Rs. 20,000
Max. Loan Amount
Rs. 20 Lakhs

Gold Loan Margin
25%

Maximum Repayment Tenure
30 months (36 months for overdraft)

Processing Fees Hallmarked Jewellery/Special Bank Gold Coins
0.50% of loan sanctioned + ST

Processing Fees of non-hallmarked ornaments
For Loan amounts not exceeding Rs. 25000
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