SBI Gold Loan For Agriculture

For agriculture upto 3 lac interest rate is only 7% as per GOI.

HAI Sri
iam take the sbi bank gold loan before told my father only 4+3=7per gauerment change palise so i how caculate interst

Hello What is the Interest Rate for Gold Loan on 7/12

Dear Sir/Mam
This is arun from Banglore i Have taken ,Rs 176000, From SBI Against Agriculture gold loan on 5.1.2015 ,i want to know the Interset rate on January 2015 ,

sir i want take argriculture gold loan

Can you tell me about the eligibility requirement to apply for Agricultural Gold Loan in SBI (State Bank of India) as I want to check if I am eligible for it or not?

[sumit]

State Bank of India offer finance to farmers / agriculturists against gold ornaments / gold wares to increase their liquidity to meet crop production expenses, investment expenses related to agriculture and / or allied agricultural activities.


Eligibility

Any person engaged in agriculture or allied activities as well as persons engaged in activities permitted to be classified under agriculture. Evidence of farming activity (like proof of Land records) is necessary.


Quantum of Loan

Upto 75% of the value of the ornaments


Security

Pledge of gold ornaments


How to apply for this loan

Nearest Branch engaged in Agricultural advance may be contacted.


How do you repay

Cash Credit / Overdraft:
It is a running account for a period of 3 years, subject to review at annual intervals.


Demand Loan / Term Loan:
The repayment period of the loan should be fixed so as to coincide with the harvesting and marketing season / generation of income from the activity, allowing 2 to 3 months’ time after harvesting to market the produce and realize the proceeds.
However, the total period will not generally exceed one year from the disbursement of the loan in the case of short-term loan / production credit and 36 months in other cases.