South Indian Bank gold loan interest rate starts at 11.00% onwards. This bank is one of the best gold loan providers helping customers meet financial requirements during emergencies. You can use this for business and personal needs, such as working capital, renting workspace, business expense, wedding, education, medical emergency, home repair, etc. Some utilize it for agricultural purposes as well. On this page, we will discuss the top gold loans offered by South Indian Bank, along with the offered interest rates.
For business, the fund can help to purchase equipment, expand workspace, rent or purchase new workstation, project finance, working capital etc. On the other hand, you can even use the funds for expenses related to medical emergencies, weddings, travel plans, education, home repairs, etc.
At Loanbaba, you will get all the details about South Indian Bank Gold Loan Rate and loan scheme.
The interest rate on a loan against gold by the bank is lowest at 11.00%, after which the rates may apply as per your repayment capacity, gold jewellery’s weight and purity, and other factors. To get the best loan rate offers, you should check with the bank for more details.
Below-given are details about Gold Power scheme by the bank.
Below-given are details about Gold Max scheme by the bank.
Below-given are details about Swarnanidhi scheme by the bank.
Below-given are details about Gold Rush scheme by the bank
South Indian Bank jewel loan interest rate starts from 11%. The actual loan amount, interest rate, tenure of the loan, will depend on the gold asset submitted as collateral. The bank offers competitive rates to people, and here is how the rates are calculated.
Here is the basis on which South Indian Bank Gold Loan Interest Rate Calculator functions.
You will receive a loan amount as per gold weight and purity. Loan to value ratio will also be considered. Higher loans amounts may apply lower rates, and vice-versa. The loan amount that you can avail at this bank is between Rs. 5000 and Rs. 10 crores.
If you have a good relationship with the bank because of repaying loans taken from the bank, in time, or being a loyal customer all these years, then the financial institution may charge a lower rate of interest.
Higher rates apply for lower tenure. But on choosing a lower tenure, you also save on the interest payout. The tenure of the loan with this bank is up to a year, but you can renew the plan once again after that.
According to the norms of RBI, financial institutions and banks can provide up to 75% of the gold’s current market value. However, the banks can even provide a lower loan to value ratio. Higher the LTV, better rates and loan amounts you can expect.
Following are the documents needed to apply for jewel loan by the bank.
Other than the mentioned documents, you have to mandatorily submit your PAN card. You will require 2 passport-sized recent photographs as well.
Here is how you can apply for gold loan at the bank.
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Below-given are FAQs on South Indian Bank gold loans in India.
Below-given are details about Gold Max Plus scheme by the bank
Below-given are details about Gold Agriculture scheme by the bank
Below-mentioned are other jewel loan rates by the bank.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of South Indian Bank.
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