The State Bank of India (SBI) provides a wide range of loans to meet the financial needs of small and micro-businesses. SBI SME Gold Loan is a low-interest loan provided by the State Bank of India to help you develop your business.
The main aim of SME Gold Loan is to provide current SME units with hassle-free financial assistance against gold jewellery kept in the name of the proprietor for fund-based needs for general business purposes.
Gold Loan is your one-stop-shop for all of your urgent financial requirements. As gold rates have surged higher in recent years, you will get a decent amount as a loan. Whatever the purpose is, whether it's for education, company growth, or anything else entirely.
A Loan Against Gold may be taken out at any time. Your monthly outgoings will be held within your budget thanks to flexible tenure and repayment options.
Now expand your business with SBI SME Gold Loan!
"Grow your business with SBI's SME Gold Loan at very attractive rates. Apply now and avail of the loan. The process is simple and hassle-free. Visit our branch today!" tweeted SBI.
Grow your business with SBI's SME Gold Loan at very attractive rates. Apply now and avail the loan. Process is simple and hassle free.— State Bank of India (@TheOfficialSBI) March 9, 2021
Visit our branch today!
For details, visit: https://t.co/6Df5OZkRu2#SBI #StateBankOfIndia #SMEGoldLoan #GoldLoan pic.twitter.com/5r4sRzbnOe
Who are eligible for SBI SME Gold Loan?
Existing MSME Units that are proprietorship firm only, both borrowing and non-borrowing units of SBI customers, who wish to take out a loan against gold ornaments or jewellery are eligible. This loan is offered to assist borrowers in fulfilling any credit criteria, such as the purchasing of a store.
Benefits of SBI SME Gold Loan
- Overdraft (OD) and Demand Loan (DL) for MSME
- Loan Amount Rs 1 Lakh to 50Lakh
- The competitive interest rate at 7.25 percent linked to EBLR
- No financial documents required.
- Only self-declared projected turnover to be submitted
- Simple assessment and no balance sheet is required
Things to know
- Processing Fee for a loan up to Rs 10 lakh: Rs 500 plus applicable taxes
- Processing Fee for loan above Rs 10 lakh: Rs 1000 plus applicable taxes
- Overdraft and demand loans can be availed for a max of 12 months
- There is no charge for prepayment of the loan
- The loan amount should not exceed the advance value of Gold