SBI, India’s largest bank, has launched a scheme called Realty Gold Loan. Under this scheme, customers can get a loan very soon to build their own house.
That is, customers can take out a loan to build their own house or buy a house using the gold they have, SBI says. So, this plan is a bit different than regular home loans.
Not only this, with the help of Realty Gold you can get income tax benefits. All home loan recipients over the age of 18 can apply for the Realty Gold Loan Scheme with SBI Bank.
According to SBI, realty gold borrowers can borrow a minimum of Rs 50,000 and a maximum of Rs 50 lakh. Applicants for the loan must pledge their gold jewelry.
Loan will be given after the quantity and quality of gold jewelery is checked. The maximum repayment period is 36 months. The interest rate is 7% for loans up to one year and 7.30% for more than one year.
.