Now Agri Gold Loan from SBI : 30th sep11 ~ E-Pao! Headlines

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Now Agri Gold Loan from SBI
Source: Hueiyen News Service

Imphal, September 29 2011: With an aim to provide low interest agricultural loan, the State Bank of India today introduced Agriculture Gold Loan to the state in which one can avail loan amount upto Rs 3.5 lakhs at an interest of 7 percent per annum by mortgaging gold in any of the SBI branches in the state.

The new loan facility was introduced to the rural populace of the state by AGM, RV Ranjitkumar Borkotoki, SBI Administrative Office Shillong in a public awareness programme held at Hiyangthang Maning Leikai.

The programme was organized by the SBI MU Campus branch in association with SBI Dristi Alliance.

The new loan facility introduced by the SBI will provide Rs 5000 for one san of 24 carat gold, Rs 4000 for second class gold and Rs 3500 for third class gold.

One should have to clear the loan within a period of 36 months.

Moreover if one clears the loan much earlier than the term mentioned, he will avail the facility of getting the next loan at an interest rate of 3 percent per annum.

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