State Bank Of Mysore offers Gold Loan ( P Segment).

Gold Loan ( P Segment)

Loan amount
Min: Rs 2500/ for Rural & Semiurban,Rs 5,000/- for Urban & Metro Max: Rs 10,00,000/-

Loan term 30 Months

Interest type
(fixed or floating)
floating

a) Interest chargeable
(in case of floating Rate Loan)
2.35%above base rate, presenthy 12.00

b)Interest chargeable
(in case of Fixed Rate Loan) NA

Date of reset of interest NA

Fee payable

a On application
0.20% With a minimum of Rs.500/- and maximum of Rs.1000/-(Inclusive of Appraiser charges of Rs 50 to Rs 300)

b During the Term of the loan NIL
c On foreclosure NIL
d Fee refundable if loan not sanctioned/disbursed NIL

e Conversion charges for switching from
floating to fixed and vise-versa NA

f Penalty for delayed payments
For loans above Rs.25,000/- if the irregularity exceeds EMI or instalment amount, for a period of one month, then penal interest would be charged @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default. If part instalment or part EMI remains overdue , then penal interest will not be levied

EMI payable NA

Details of Security/collateral obtained Pledge of Gold ornaments with purity not less than 22 carats. Advance value will be advised from time to time.

Date on which annual outstanding balance statement will be issued 31th March

Customer service - 1800 425 2244