Now Personal Gold Loan can be easily taken on SBI’s digital banking platform YONO (You Need Only One). In the present times, gold loan is one of the safest and easiest way to meet the need of money during lockdown. You have to follow these 4 easy steps to take gold loan from SBI YONO.
First of all you have to login to your account by going to SBI YONO app. After this, you have to go to the menu and click on Loan. By going to the loan option, you have to click on Gold Loan and then Apply Now.
To take a gold loan, you have to mortgage your gold ornaments, coins, etc. with the bank. You can submit your jewelry and coins information online to take gold loan from SBI YONO. After clicking on Apply Now, you will have to give details of jewelry etc. in a form.
To take a gold loan from SBI YONO, after giving information about jewelry and coins, etc., other information such as home address, your work, your monthly income, etc. will have to be given. There will be a drop down menu for this in the form on the app. After that all you have to do is submit the form.
You will have to visit the SBI branch one day after the gold loan form is submitted on SBI YONO. Where the gold items filled in the form, your 2 photos and the rest of the KYC documents will have to be taken. Apart from this, you will also have to carry the proof of address. After this all you have to do is sign on the loan document and you will get the gold loan. Who can take this loan…
Anyone above the age of 18 years can apply for a gold loan on SBI YONO. He should have a means of steady income. Pensioners can also apply for this loan. Pensioners are not required to provide proof of income.
A minimum gold loan of Rs 20,000 and a maximum of Rs 50 lakh can be taken on SBI YONO. This loan will be available for 36 months. The bank will give you this gold loan at a margin of 25%. What is the advantage of taking Gold Loan from SBI YONO?
The biggest advantage of taking a gold loan from SBI YONO is that you will not have to go to the bank branch again and again, you will have to go to deposit gold only once. Least paper work, less processing time, and priority service will be available in the branch. Apart from this, the bank is offering Gold Loan from SBI YONO at attractive interest.
On SBI YONO, you will get a gold loan at an interest of just 8.25%. On the other hand, if you apply for this loan before 30 September 2021, you will also get a rebate of 0.75% on interest, that is, you will get this loan at an interest of only 7.5%, which is the lowest right now.
