South Indian Bank Gold Loan

South Indian Bank Gold Loan Key Features – Apply Now

South Indian Gold Loan Interest Rate	7.25% per annum
South Indian Gold Loan Per Gram	Rate Per Gram Today is ₹ 3,800 to ₹ 4,350
South Indian Gold Loan Processing Fee	0.20% – 1%
South Indian Gold Loan Loan Amount	Up to Rs. 10 Crore (With Income Proof)
South Indian Gold Loan Prepayment Charges	2%+GST (Within 3 Months), 0 (After 3 months)
South Indian Gold Loan Repayment Tenure	36 months
South Indian Gold Loan Repayment Scheme	Bullet Payment Scheme, Overdraft Scheme

Advantages of South Indian Bank Gold Loan

1. South Indian Bank provides gold loan to proprietary firms, individuals, and partnerships.
2. A person can avail any amount between Rs. 25,000 and Rs. 10 crores if he/she avails the South Indian Bank Gold Loan service.
3. The bank charges a processing fee of up to 1% on the total loan amount which is very reasonable.
4. Any individual who is applying for a Personal Loan or a Business Loan, but is not eligible for them can apply for Gold Loan as these do not require a good credit score or income proof for being eligible for the loan.
5. South Indian Bank charges the applicant up to  2% of Principal Outstanding debt in the event of a Gold Loan Foreclosure.

 

How Much Gold Loan Can I Avail through South Indian Bank Gold Loan?

As per the ultra-modern riches prices, South Indian Bank affords a gold loan through thorp regarding ₹ 3,800 to ₹ 4,350. Highest South Indian Bank riches mortgage dimension per village lately is ₹ 3,800 to ₹ 4,350 for 22-carat jewelry considered at the most LTV concerning 75% then average gold loan expenditures of the remaining 30 days of 2020 is ₹ 3,800 to ₹ 4,350 regarding 22 carats.

South Indian Bank Gold Loan Per Gram – Jan 2021

Updated - Gold Loan Per Gram Rate w.e.f Oct 08 2024
Gold Weight	Gold Purity 24 Carat	Gold Purity 22 Carat	Gold Purity 20 Carat	Gold Purity 18 Carat
1 gram	4621	4290	3900	3510
10 gram	46210	42900	39000	35100
20 gram	93600	85800	78000	70200
30 gram	140400	128700	117000	105300
40 gram	187200	171600	156000	140400
50 gram	234000	214500	195000	175500
100 gram	468000	429000	390000	351000
200 gram	936000	858000	780000	702000
300 gram	1404000	1287000	1170000	1053000
400 gram	1872000	1716000	1560000	1404000
500 gram	2340000	2145000	1950000	1755000

About South Indian Bank Gold Loan

South Indian Bank is one of the renowned banks in India. It was founded in 1929. The bank has a wide range of networks, and it serves in more than 27 states and three union territories of the country. The bank provides financial products like credit cards, consumer banking, mortgage loan, wealth management, and insurance. The gold loan comes under the category of investments. South Indian Bank provides you with a gold loan at very reasonable rates of interest.

In a gold loan, you can borrow the money from the bank for a given tenure at some rate of interest. But the bank keeps your Gold as the security and returns it to you when you repay the loan amount. The gold loan is a secured loan, and that’s why the rate of interest is reasonably low. The lender doesn’t have that much risk, because if you fail to return your loan amount on time then the bank has the legal authority to recover the loan amount from your Gold.

South Indian Bank Gold Loan Eligibility

South Indian Bank Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail of financial services provided by banks at low rates of interest and also requires minimal documentation for the same. South Indian Bank gives you the Loan amount within an hour of application as the valuation and approval process is quickly done keeping in mind your urgency regarding the need for funds. The minimal eligibility requirements of the South Indian Gold Loan are as follows:

Age	18-75 years
Requirements	Gold ornaments (18-22 carats)
CIBIL score	Above 500

South Indian Bank Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the South Indian Bank wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire South Indian Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures the high security of your gold ornaments till the loan is closed. The documents required to get a loan against gold with South Indian Bank are:

Identity Proof	Aadhar Card/Pan Card/ Passport/ Voter ID
Residence Proof	Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
Agriculture Proof ( if applicable)	Agriculture Land Ownership Proof
Photographs	2 Passport sized coloured

To avail instant gold loan call on 9878981144

South Indian Bank Gold Loan Interest Rate, Fees and Charges

The bank charges various fees on processing your gold loan application. Some of these main changes are:

South Indian Bank Gold Loan Rate	7.25% per annum
Processing Fee	0.20% – 1%
Loan Amount	₹ 5,000 to ₹ 10 crore

Types of South Indian Bank Gold Loan

• Bullet Repayment: Under this method, the gold loan interest rate amount is paid every month while the principal amount is liable to be paid only at the end of the tenure.
• Overdraft Facility: Self-employed borrowers use this method of repayment, where the sum amount is flexible for repayment depending on the availability.
• EMI Facility: The principal amount and the interest rate can be paid every month in the form of monthly instalments till the tenure completion.

Gold Loan Apply Online 

You can connect with Dialabank regarding the below-mentioned measures to get a Gold Loan as per your requirement.

• Minister Dialabank’s digital stage, where you will have to fill a form without any registration correctly. 
• Our Contact Director will reach you and help you during the Gold Loan process and escort you in meeting your business requirements. 
• You will get personalized help giving you the advantage of analyzing and getting the most suitable arrangement according to your needs without any extra costs.
• With Dialabank, you can analyze the various offers and plans from multiple banks based on funding granted and the rate of interest charged to determine the best loan opportunity for yourself.

South Indian Bank Gold Loan EMI Calculator

Rate of Interest	6 months	1 Yr	2 Yrs	3 Yrs
7.00%	17008	8652	4477	3088
8.00%	17058	8699	4523	3134
8.50%	17082	8722	4546	3157
9.00%	17107	8745	4568	3180
9.50%	17131	8678	4591	3203
10.00%	17156	8791	4614	3227
10.50%	17181	8815	4637	3250
11.00%	17205	8838	4661	3274
11.50%	17230	8861	4684	3298
12.00%	17254	8885	4707	3321
12.50%	17279	8908	4731	3345
13.00%	17304	8932	4754	3369
13.50%	17329	8955	4778	3393
14.00%	17354	8979	4801	3418
14.50%	17378	9002	4825	3442
15.00%	17403	9026	4845	3466

How to Pay Your South Indian Bank Gold Loan EMI?

Your South Indian Bank gold advance can be reimbursed in the following three different ways.

1. Standing Instruction (SI): If you are already having an account with the South Indian Bank you can opt for SI in which the loan amount will be deducted every month from your account.
2. Electronic Clearing Service (ECS): This mode can be utilised if you have a non-South Indian Bank Finance account and might want your EMIs to be charged consequently toward the finish of the month to month cycle.

Gold Loan agent Contact Number

For any sort of assistance regarding gold loan, you can contact us on the number 9878981144.

Gold Ornaments accepted by South Indian Bank Gold Loan

• The South Indian Bank accepts only Gold of 18 carats to 22 carats.
• The South Indian Bank accepts only gold jewellery as collateral.
• Minted coins are not accepted by the bank for loan against gold.
• Applicant should have a minimum of 10 grams of Gold to get a loan against gold.

Use of South Indian Bank Gold Loan

The funds acquired by availing the Gold Loan service can be used for a number of purposes such as:

• To support any personal investments such as matrimony, riding, adjustment of more considerable tuition fees, etc. 
• For all your marketing necessities such as procuring raw matter, enlargement of company, etc.
• You can also avail of a Gold Loan per gram for gardening purposes. The bank allows lower rates of interest for Gold Loans that are utilized for farming or connected projects. 

South Indian Bank Agricultural Jewel Loan Scheme

Scheme	South Indian Bank Agricultural Jewel Loan Scheme
Interest Rate	Starting from 7.25% per annum (depends on the sum of the loan
Least amount of Loan	Depends on the value of  jewel which is being kept as security
Loan period	Adjustment of advance sum inside 2 months from the date of reap of yields

Benefits of South Indian Bank Agricultural Jewel Loan Scheme

• There is no processing fee is applicable up to ₹ 25,000
• 0.30% of the loan amount, Minimum of ₹ 300 charge is applicable to the amount ranging from above ₹  25,000 – less than ₹ 5 lakh
• 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore

South Indian Bank Gold Loan Overdraft Scheme

For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at South Indian Bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft. You do not need to visit the South Indian Bank branches and go through a boring process. Just log in to the South Indian Bank online banking portal and from there you can fill out a simple form and get an overdraft under your name.

FAQs About South Indian Bank Gold Loan

✅ What is South Indian Bank Gold Loan?

South Indian Bank Gold Loan is one of the best ways to resolve any financial emergency instantly. South Indian Bank offers various gold loan schemes to its customers at competitive rates of interest to meet the urgent financial needs with lesser paperwork. Loans can be taken for a maximum amount of ₹10 crores for a period of up to 36 months.

✅ How Can I Get Gold Loan?

You can apply for Gold Loan online through Dialabank’s digital platform from the comfort of your own home.

 ✅ How much Gold Loan Can I get per gram from South Indian Bank?

South Indian Bank Gold Loan Rate Per Gram is ₹ 3,800 to ₹ 4,350 and it changes according to the purity of the gold.

 ✅ How Does South Indian Gold Loan work?

The South Indian Gold Loan works in a simple and systematic manner as the South Indian Gold loan amount will be instantly disbursed into your bank accounts once the documents required are verified and your gold jewellery has been valued according to the market price. 

✅ What is Gold Loan interest rate in South Indian Bank?

The gold loan interest rate in South Indian Bank is 7.25% per annum.

✅ How to check gold loan status in South Indian Bank?

To check your Gold Loan status in South Indian Bank online you can visit the Bank’s online portal and fill in your application details to log in, after which your application status can be easily tracked.

 ✅ How to calculate gold loan interest in South Indian Bank?

Use Dialabank’s EMI Calculator to calculate the EMI and Interest Rate of your Gold Loan.

✅ What is the maximum gold loan amount I can avail on gold loan from South Indian Bank?

The maximum gold loan amount you can avail on a gold loan from South Indian Bank is up to Rs 10 crore. The bank offers a loan amount of up to 75% of the gold jewellery’s market value.

✅ What is the loan tenure of South Indian Bank gold loan?

The loan tenure of South Indian Bank gold loan is from 3 months to 36 months. 

✅ How much processing fee is applicable on South Indian Bank Gold loan?

A processing fee of 0.20% – 1% is applicable on South Indian Bank gold loan.

✅ What are the charges for renewal in South Indian Bank gold loan?

The charged for renewal in South Indian Bank gold loan is 0.1% of the loan amount.

✅ How to renew the South Indian Bank Gold Loan online?

You can renew your South Indian Bank Gold loan online by simply logging in to your i-mobile app account with your details and renew your gold loan under the Gold Loan section.

✅ How to pay South Indian Bank Gold loan interest online?

You can pay the South Indian Bank Gold loan interest online using various payment options available or can simply visit their online portal and make your loan payments through net banking, debit cards, or through the i-mobile app.

✅ What if I can’t pay the interest on South Indian Bank Gold loan for 3 months?

If you can’t pay the interest on South Indian Bank Gold Loan for 3 months the bank will warn you regarding regular payments. In case you still fail to repay the amount the bank will be liable to sell your gold ornaments kept as a security.

✅ How can I apply for an EMI moratorium on the South Indian Gold loan?

You can apply for the EMI Moratorium on South Indian Bank Gold loan online by logging in with your personal login credentials or can also visit the bank personally. You will be required to submit the moratorium request a minimum of 5 working days before your EMI payment’s due date.

✅ How to pay a South Indian Gold loan through a credit card?

You cannot pay South Indian Bank Gold loan through credit card as per RBI Guidelines.

✅ What is the South Indian Bank Gold Loan customer care number?

For contacting the South Indian Bank Gold loan customer care just dial 9878981144.

✅ What is the South Indian Bank Gold Loan closure procedure?

• Just go to the bank with the documents.
• Write a letter for pre-closure of the South Indian Bank Gold loan account.
• Pay the pre-closure charges as per South Indian Bank Gold Loan.

✅ What is the South Indian Bank Gold Loan preclosure charge?

Up to  2% if done before 3 months and later zero.

✅ What is the South Indian Bank Gold Loan overdraft scheme?

For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at South Indian Bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit the South Indian Bank branches and go through a boring process. Just log in to the South Indian Bank online banking portal and from there you can fill out a simple form and get an overdraft under your name.

✅ What is the South Indian Bank Gold Loan maximum tenure?

The maximum tenure of the South Indian Bank Gold loan is 36 months.

✅ What is the South Indian Bank Gold Loan minimum tenure?

The minimum tenure of the South Indian Bank Gold Loan is 3 months. 

✅ What are the foreclosure charges in South Indian Bank Gold Loan?

The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure

Other Major Gold Loan Providers 

HDFC Bank Gold Loan	Yes Bank Gold Loan
Private Bank Gold Loan	Kotak Mahindra Bank Gold Loan
Axis Bank Gold Loan	IndusInd Bank Gold Loan
Tamilnad Mercantile Bank Gold Loan	IDFC First Bank Gold Loan
Catholic Syrian Bank Gold Loan	Jammu and Kashmir Bank Gold Loan
Federal Bank Gold Loan	RBL Bank Gold Loan
HSBC Bank Gold Loan	DCB Bank Gold Loan
Development Credit Bank Gold Loan	Standard Chartered Gold Loan
Karur Vysya Bank Gold Loan	Lakshmi Vilas Bank Gold Loan