State Bank of Mysore Gold Loan | Interest Rates | Information

State Bank of Mysore offers Gold loan scheme at lowest interest rates. get details on eligibility, documents, fees & charges on jewellery loans online.

Purpose
To meet personal expenses like Marriage, Family functions, Medical expenses, Educational expenses, Travel, etc.,

Individuals in single name with satisfactorily conducted accounts with a minimum capacity to service the interest.

Loan Account
Presently Rs 2000/- per gram of gold pledged with a Maximum loan amount of Rs. 10.00 lacs

Repayment
Borrower will have the option of making repayment in one or more installments/ lump sum of his/her choice with in the period of 30 months. However periodical interest has to be serviced by the borrower to avoid the account beoming NPA.

Rate of Interest

Processing Fee
0.20% with a minimum of Rs.500/- maximum Rs.1000/- (inclusive of appraiser charges)

Security
Pledge of Gold ornaments of 22 carats or Specially minted Gold Coins sold by Banks, which is kept in the original form.

Prepayment Penalty – No Pre payment charges.