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Loan Against Sovereign Gold Bond
Attractive Rates and Longer Tenure
Benefits and Features of Loan Against Sovereign Gold Bond
Overdraft Facility
Avail funds conveniently through an Overdraft Facility, ensuring easy access to money as and when required.
Interest Rate
Pay interest only on the amount utilised and for the exact duration of usage, helping you save on unnecessary charges.
Seamless Digital Process for select customers
Apply, manage and access funds digitally for a hassle-free experience.
Quick Disbursal
Funds are disbursed promptly, ensuring minimal delays in fulfilling your financial needs.
Loan Value
Get a Loan against the value of your Sovereign Gold Bonds, enabling flexible liquidity without selling your bonds.
Approved Security
The Loan is granted against Sovereign Gold Bonds, a secure asset.
Loan Against Sovereign Gold Bond Eligibility, Documentation, Interest Rate & Charges
How to Apply
- 01.Login to Internet Banking
- 02.Click on ‘Investment and Insurance,’ then go to ‘Demat’ and select ‘Loan Against SGB’. Enter additional information.
- 03.Select the Sovereign Gold Bonds for Pledging and Calculate your final loan amount. Provide Foreign Account Tax Compliance Act (FATCA) details and accept Terms and Conditions
- 04.Redirect to (National Securities Depository Limited) NSDL for pledging confirmation through OTP
- 05.Access funds through your new Overdraft Account.
FAQs
Can I get a loan against my Sovereign Gold Bond?
Yes, borrowing against your Sovereign Gold Bond is quite simple. You can apply for a Loan Against Sovereign Gold Bond from the Bank. You can get money depending on the value of the Bond and it serves as security for the loan. This is a fast approach for getting funds without losing your investment.
When will I receive the funds after applying for a Loan Against Sovereign Gold Bond?
Funds for a Loan Against Sovereign Gold Bond are typically disbursed within 1-3 working days after the application is approved. The exact timeframe may vary based on the lender’s policies and documentation process.
What is the EMI for a ₹5 lakh Loan Against Sovereign Gold Bond?
A Loan Against Sovereign Gold Bonds operates like an Overdraft Facility rather than an EMI. Interest is charged only on the amount utilised and for the duration of its usage. For an estimate of interest charges based on your loan amount and usage, use our LAS calculator.