SBI Gold Loan in Lucknow

Last Updated : July 13, 2020, 2:07 p.m.

People having gold at their home usually prefer to take a Gold Loan instead of a personal loan. But due to the lack of knowledge, they feel suspicious to apply for it. Similarly, in Lucknow, there are some individuals who don’t know about the Gold Loans and the process to apply for it. So, here you can see the SBI Gold Loan in Lucknow that you can apply easily. The State bank of India offers 3 types of Gold Loans and you can take any of them as per choice. Gold Loans from SBI are available at an interest rate of 7.50% and you can take it for the tenure of 3 years. Let’s explore all other details of the SBI Gold Loan.

Types of Gold Loans in Lucknow from SBI

The State Bank of India offers 3 different types of Gold Loans and the criteria for charging interest on the loan amount are also different. You can explore all the gold loans available and then choose anyone.

Gold Loan:- It is a simple Gold Loan from the State bank of India in which a maximum of 75% of the gold value is given to the borrower and the bank keeps the remaining 25% as margin. The bank does so because the value of the Gold might decrease due to the market fluctuations. You can take this loan for a maximum of 36 months at an interest rate of 7.50%. If you have kept the gold as security of ₹2 Lac then the bank will lend ₹1.5 Lac only.

Liquid Gold Loan:- In this option of the Gold Loan in Lucknow from SBI, the bank sanctions a certain Liquid Limit that you can withdraw against the gold. But remember one thing that the bank will charge interest only on the actual amount borrowed and not on the liquid amount sanctioned. Suppose you get a liquid limit of ₹3 Lac and you actually borrowed ₹2 Lac then the interest will be charged on ₹2 Lac only.

Bullet Repayment Gold Loan:- If you have the habit of prepaying the loan then you can choose this option of the Gold Loan. SBI will charge interest on the loan amount for the borrowed period only and not for 12 months. Suppose you take the loan for 12 months and prepay it in 11 months then the interest will be charged for 11 months only.

Interest Rate, Tenure and Other Details of the Gold Loan in Lucknow

SBI Gold Loan Eligibility Criteria in Lucknow

• The applicant must have at least an age of 18 Years.
• A co-applicant and a Single Applicant can take the Gold Loan.
• A regular income is required.
• The bank will ask for Receipts or bills of all the Gold items, jewellery, and ornaments that are mortgaged.

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

SBI Gold Loan Branches in Lucknow

• HIGH COURT CAMPUS, KAISER BAGH, LUCKNOW, UP, PIN – 226001
• 16, VIDHAN SABHA MARG, LUCKNOW, UTTAR PRADESH, PIN – 226001
• A – 6, FAIZABAD ROAD , LUCKNOW, UTTAR PRADESH , PIN – 226001
• FAIZABAD ROAD, P.O.CHINHAT LUCKNOW, UP, PIN – 227105
• BANGLA BAZAR OPP. ASIANA COLONY LUCKNOW PIN – 226012
• ARIF CHAMBER, KAPURTHALA MARKET, LUCKNOW, LUCKNOW, PIN – 226024
• UPPER GROUND FLOOR, ESSAR MALL, OPP UPTRON BUILDING, TIKET RAI TALAB, DIST LUCKNOW 226004
• 749 – B, SECTOR – C, LUCKNOW, LUCKNOW, PIN – 226006
• NAKHAS CROSSING, LUCKNOW, UTTAR PRADESH, PIN – 226003
• FAIZABAD ROAD, NISHATGANJ LUCKNOW, LUCKNOW, 226016
• NO.B – 15, SECTOR – L ALIGANJ, KURSI ROAD, NEAR VISHNUPURI CHAURAHA, LUCKNOW, PIN – 226022
• KHUNKHUNJI ROAD CHOWK, LUCKNOW, UTTAR PRADESH 226003
• GANESHGANJ, LUCKNOW, UTTAR.PRADESH, PIN.226001.
• 2 103, CHANDRA BHAWAN, VIJAYKHAND LUCKNOW PIN – 226010
• SANJAY GANDHI PGIMS, LUCKNOW, RAE BARELI ROAD, LUCKNOW, UP, PIN – 226014
• 9 – A 5, THAPER HOUSE COMPLEX PARK ROAD, LUCKNOW PIN – 226001
• 6A, WAY ROAD, GOKHALE MARG LUCKNOW, UTTAR PRADESH, PIN – 226001
• BLOCK ROAD, MIRZAGANJ, MALIHABAD, LUCKNOW, U.P., PIN 226018
• AGRICULTURE MANAGEMENT CENTRE, INDIAN INSTITUTE OF MANAGEMENT, SITAPUR ROAD, LUCKNOW