South Indian Bank (SIB) Gold Loan is one of the best ways to resolve any financial emergency. This bank offers various gold loan products to its customers at a cheaper rate of interest to meet their urgent financial needs with minimal paperwork. There are various loans against gold schemes for individuals, businessmen, agriculturists, self-employed individuals, and more.
You can find details about the South Indian Bank gold loan on Loanbaba.com, so keep a check on this page for further updated information.
Here are the features of the SIB Gold Loan:
SIB has gold loan schemes for professionals and salaried individuals. The amount taken as a loan can be used for either multiple or specific purposes.
Repayment at the end of tenure
The SIB Gold Loan interest rate charged is related to various factors. The South Indian Bank Gold Loan Interest Rate can change from time to time.And borrowers have to clarify with the bank about the existing bank rate.
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Below provided is important SIB Gold Loan FAQs.
If you want to make a loan inquiry at SIB, then visit here for details:
It is possible to re-pledge the gold ornaments to avail of this loan. For this, the pawnee must furnish a declaration stating the actual ownership and a no objections certificate from the pawner pledging those ornaments further with the bank.
No handling charges are levied under this scheme. The rate of interest charged under this scheme is 11% per annum. Higher of Rs. 50 or minimum interest will be charged. The maximum period for this loan is 3 months.
The security requirements for this loan are 24-carat gold coins issued by the South Indian Bank packed originally along with Assay Certification. Applicants need to get them pledged with the bank against which the loan is sanctioned depending upon the value of gold coins.
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