State Bank of Hyderabad offers gold loan under its Smart Premium Gold Loan and Smart Saral Gold Loan, both of which are easily available from any of the branches of SBH. Customers who avail this loan receive cash in lieu of pledging their gold assets to the bank. State Bank of Hyderabad offers EMIS that are affordable and the borrowers are allowed to liquidate their loan any time as per their convenience.
This loan is very helpful in cases where a customer needs a loan urgently for various reasons. The Gold Loan may be used to pay for either personal or business expenses. The loan can be used for situations such as, paying for a wedding in the family, going on a trip abroad, paying for medical expenses, paying education fees, etc. It can also be used to pay for a business asset, or be used as working capital, etc. With this loan, borrowers need never be short of funds, so long as they have the adequate amount of gold to pledge with the bank. Furthermore, the interest rate of a gold loan is usually lower than the interest rate charged on a personal loan for the reason that in case of the gold loan the borrower provides the security in the form of his or her gold assets. Additionally, the processing and disbursal time taken for the gold loan is much lesser as compared to other loans.
How to avail a Gold Loan through State Bank of Hyderabad
The procedure of availing a gold loan through State Bank of Hyderabad is a rather simple one wherein the customer will have to give SBH the application form and provide their gold assets. Loan applicants who are first time customers of SBH will have to show proof of their identity and address. Existing customers of SBH get to skip the KYC procedure as their records are already held by the bank.