New Delhi: India's largest public sector lender State Bank of India (SBI) is offering Realty Gold Loan scheme under which home borrowers can avail loan to meet the shortfall in financing it.


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SBI Realty Gold Loan scheme can be obtained in liew of pledge of gold ornaments.


"With SBI's Realty Gold Loan scheme, get quick & hassle-free loan to meet the shortfall in financing your dream home," State Bank of India wrote in its recentl tweet.




Key Features of SBI Realty Gold Loan scheme


Maximum Loan Amount : Rs 50.00 lakh


Minimum Loan Amount : Rs 50,000 


Margin


SBI Realty EMI Gold Loan: 25%


SBI Realty Liquid Gold Loan (Overdraft): 25%


SBI Realty Bullet Repayment Gold Loan: 35%


Security : Pledge of gold ornaments duly verified for quality & quantity.


Processing Fees : 0.50% of the Loan amount + applicable GST minimum Rs500 + applicable GST .


Interest Rate :  0.30% above the MCLR-1 year


Others : Gold appraiser charges will be paid by the Applicant.


SBI Realty Gold Loan scheme RATE OF INTEREST up to 31 December 2021




Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate
Realty Gold Loan(all variants) 7.00% 0.30% 7.30%
For COVID WARRIOR 7.00% 0.30% 7.30%
For COVID WARRIOR On Bullet Repayment 7.00% Nil 7.00%

SBI Realty Gold Loan scheme Eligibility


The borrower's age should be 18 years and above


Pre-condition: Housing Loan Borrowers of SBI (both existing and new)


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