Hi buddy I want to take Gold Loan from State Bank Of Mysore , so can you here tell me what Interest Rates charges by bank on this loan ??

State Bank of Mysore offers Gold loan scheme at lowest interest rates.

As you want to take Gold Loan from State Bank Of Mysore , and asking for Interest Rates on this loan so as per our source it changed 12.60%

Eligibility

Any individual in its own name with a decent satisfactory track record alongwith a basic debt servicing capacity is eligible to avail of the State Bank of Mysore’s Gold Metal Loan Scheme with the least of efforts and inconvenience.

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

Re- payment
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.

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.