New Delhi: India's largest public sector lender State Bank of India (SBI) is offering Realty Gold Loan scheme under which home borrowers can avail loan to meet the shortfall in financing it.
SBI Realty Gold Loan scheme can be obtained in liew of pledge of gold ornaments.
"With SBI's Realty Gold Loan scheme, get quick & hassle-free loan to meet the shortfall in financing your dream home," State Bank of India wrote in its recentl tweet.
With SBI's Realty Gold Loan scheme, get quick & hassle-free loan to meet the shortfall in financing your dream home.
To know more, visit https://t.co/s6wBOF9Job #SBI #GoldLoan #RealtyGoldLoan #HomeLoan #Loan #DreamHome pic.twitter.com/uuBN4ZrPyb— State Bank of India (@TheOfficialSBI) November 9, 2021
Key Features of SBI Realty Gold Loan scheme
Maximum Loan Amount : Rs 50.00 lakh
Minimum Loan Amount : Rs 50,000
Margin
SBI Realty EMI Gold Loan: 25%
SBI Realty Liquid Gold Loan (Overdraft): 25%
SBI Realty Bullet Repayment Gold Loan: 35%
Security : Pledge of gold ornaments duly verified for quality & quantity.
Processing Fees : 0.50% of the Loan amount + applicable GST minimum Rs500 + applicable GST .
Interest Rate : 0.30% above the MCLR-1 year
Others : Gold appraiser charges will be paid by the Applicant.
SBI Realty Gold Loan scheme RATE OF INTEREST up to 31 December 2021
| Scheme | 1 year MCLR | Spread over 1 year MCLR | Effective Interest Rate | |
|---|---|---|---|---|
| Realty Gold Loan(all variants) | 7.00% | 0.30% | 7.30% | |
| For COVID WARRIOR | 7.00% | 0.30% | 7.30% | |
| For COVID WARRIOR On Bullet Repayment | 7.00% | Nil | 7.00% | |
SBI Realty Gold Loan scheme Eligibility
The borrower's age should be 18 years and above
Pre-condition: Housing Loan Borrowers of SBI (both existing and new)
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