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SBI Gold Loan in Chandigarh

Highlights

  • Explore the SBI Gold Loan Rate of Interest in Chandigarh.
  • See the Eligibility criteria and the Documents required for the SBI Gold Loan.
  • See the SBI Branches in Chandigarh from where you can take the Gold Loan

It is better to take a Gold Loan instead of a personal loan because personal loans usually have difficult eligibility criteria and the rate of interest is also high. If you are having enough gold at home and you have the power to mortgage it then Gold Loan would be the best option. In Chandigarh, there are some middle-class families who need a loan to fulfill their dreams. But due to the failure of fulfilling the eligibility criteria, their loans are rejected. So don’t worry, if you are having enough gold ornaments at your home then you can apply for the SBI Gold Loan in Chandigarh. The SBI Gold Loan is available at a competitive rate of interest and there are three varieties of the SBI Gold Loan. Let’s explore the details of this loan.

Details of the Gold Loan from SBI in Chandigarh

DetailsSBI Gold LoanSBI Liquid Gold LoanSBI Bullet Repayment Gold Loan
Minimum Loan Amount₹20 Thousand₹20 Thousand₹20 Thousand
Maximum Loan Amount₹20 Lacs₹20 Lacs₹20 Lacs
Maximum Tenure3 Years3 Years1 Year
Rate of Interest7.50%7.50%7.50%
Processing FeesHighest of the Following
- 0.50% of the Loan Amount plus GST.
- ₹500 plus GST
Highest of the Following
- 0.50% of the Loan Amount plus GST.
- ₹500 plus GST
Highest of the Following
- 0.50% of the Loan Amount plus GST.
- ₹500 plus GST
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Eligibility Criteria for the SBI Gold Loan in Chandigarh

  • A Minimum Age of 18 Years is required to take the SBI Gold Loan.
  • A Single Applicant and co-applicant are eligible to take the Gold Loan together.
  • Individuals must a regular income so that they can clear the loan easily.
  • Bills of all the Gold items against which you are taking the Loan must be presented to the bank.

Documents Required

  • Gold Loan Application Form Signed by the Applicant.
  • 2 Passport Sized Photographs.
  • Aadhar Card, PAN Card, Voter ID Card, or Passport as the Identity Proof .
  • Driving License, Telephone Bill, Electricity Bill as the Address Proof.
  • Illiterate Borrowers must have to present a Witness Letter.
  • DP Note
  • Delivery Letter of the DP Note
  • Note Delivery Letter of the Gold Ornaments
  • Arrangement Letter

Types of SBI Gold Loans in Chandigarh

There are three types of Gold Loan offered by the State Bank of India in Chandigarh. You can go through all the types of loans and then decide which loan would be best for you.

Gold Loan:- This loan is a simple Gold Loan that is given to the borrower for a maximum period of 36 months. In this loan, the SBI will keep 25% of the gold value as a margin and sanctions only 75% of the gold value as the loan. The value of the gold might decrease due to the market fluctuations; therefore the bank keeps a margin. If you have mortgaged the gold having a value of ₹5 lacs then you will get a loan of ₹3.75 Lacs only.

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Liquid Gold Loan:- In this option, the bank sanctions a certain limit that is known as the overdraft limit so that you can borrow some money from the sanctioned amount. But the interest is chargeable only on the amount that is actually borrowed by you and not on the amount that is permitted by the bank. Suppose the bank has given you the limit of ₹5 lacs and you take ₹2 lacs as a loan then the interest is chargeable on the amount of ₹2 lacs and not on ₹5 lacs.

Bullet Repayment Gold Loan:- In this option, you can clear your SBI Gold Loan in Chandigarh before the expiry of the tenure. The bank will charge interest only for the months in which you have an outstanding balance of the loan. Suppose you have taken a loan for 12 months and you clear it in 10 months then the interest will be charged on for 10 months. 12 months is the maximum tenure offered in this option.

SBI Gold Loan Branches in Chandigarh

  • ATTAWA SECTOR 42 C CHANDIGARH, PIN – 160036
  • SECTOR 1, CHANDIGARH, HARYANA, PIN – 160001
  • M W MARKETING AREA PHASE I CHANDIGARH HARYANA 160002
  • PGI SECTOR12, CHANDIGARH, PIN 160012
  • SECTOR – 12, CHANDIGARH, CHANDIGARH 160012
  • PU SECTOR 14, CHANDIGARH, PIN 160014
  • CHANDIGARH RAM DARBAR, PIN – 160002
  • NO. 3 BRD CHANDIGARH 160003
  • SECTOR 17 BLHO COMPLEX CHANDIGARH, PIN – 160001
  • SEC – 7 CHANDIGARH
  • SECTOR 22C, CHANDIGARH, PIN 160022
  • SCO 35, SECTOR 23C, CHANDIGARH
  • SCO NO 75 – 76 SECTOR 31 C, CHANDIGARH, CHANDIGARH, PIN – 160031
  • SECTOR 41, CHANDIGARH PIN – 160055
  • SECTOR 17, CHANDIGARH. PINCODE 160017
  • SCO 156 – 159, SECTOR 34A CHANDIGARH, CHANDIGARH, PIN – 160022
  • S.C.O.NO.221, SECTOR – 37 CHANDIGARH, PIN – 160036
  • SECTOR17B, CHANDIGARH, PIN 160017
  • SECTOR 9, CHANDIGARH 160009
  • SECTOR 32, CHANDIGARH 160032
  • SECTOR 26, CHANDIGARH 160026
  • GOVT COLLEGE FOR GIRLS, SECTOR11, CHANDIGARH
  • 3RD.FLOOR, SCO.4348, BANK.SQUARE, SECTOR17.B, CHANDIGARH 160017
  • SBI ZONAL OFFICE 101 – 107 SECTOR 17B CHANDIGARH
  • SCO, 109 – 110, 4TH FLOOR, SBI ZO, PUNJAB CHANDIGARH BUILDING, SECTOR – 17
  • SHOPPING CENTRE, SCO NO – 118, 119, 120, SECTOR – 34A, CHANDIGARH – 160022
  • LOCAL HEAD OFFICE, SECTOR – 17 – B, CHANDIGARH – 160017
  • VILLAGE CHAUNTRA, PO CHAUNTRA, TEHSIL JOGINDERNAGAR, DISTT. MANDI (H.P), DIST: MANDI – 175002
  • RBO CHANDIGARH, SCO 103*108, SECTOR 17 B, CHANDIGARH, DIST: CHANDIGARH – 160017
  • SEC-7 BRANCH, 2ND FLOOR, MADHYA MARG, CHANDIGARH, PUNJAB-160019
  • SBI, SEC-7 BRANCH, 2ND FLOOR, MADHYA MARG, CHANDIGARH-160019
  • SCO 180, SECTOR 38-C, CHANDIGARH, DISTT.CHANDIGARH. PUNJAB-160036
  • SECTOR 9, MADHYA MARG, CHANDIGARH, DISTT.CHANDIGARH. PUNJAB-160009
  • ELANTE MALL, INDUSTRIAL AREA PHASE 1, CHANDIGARH  160002

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Personal Loan Interest Rates July 2020
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.99% - 18.49%
IndusInd Bank11.25%
Kotak Bank10.99% - 20.99%
RBL17.50% - 24.00%
Standard Chartered Bank11.50% - 18.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates July 2020
Axis Bank7.75% - 8.55%
Bank of Baroda6.85% - 7.85%
Citibank8.20%
HDFC7.55% - 8.45%
ICICI Bank7.45% - 8.55%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank7.40% - 9.70%
LIC Housing7.40% - 8.85%
Piramal Capital & Housing Finance9.00% - 9.10%
PNB Housing Finance8.60% - 9.45%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI7.35% - 8.00%
Tata Capital9.20% - 9.35%