QUESTIONS & ANSWERS

Frequently Asked Questions

Get answers to your queries

You can fill up the loan application form and submit it online. A team member of SIB’s gold loan department will get in touch with you for further steps.

A gold loan for business activities is a secured loan where you pledge your gold assets to avail immediate working capital to run your business effectively.

Individuals and Proprietorships above 18 years of age proof of documents supporting income generating activities are eligible for a gold business loan.

Yes, Small and Medium sized enterprises can avail of a gold loan provided they have the right set of documentation

Banks use high-security vaults that are equipped with bio-metric access controls handled by authorised personnel only. Moreover, the gold pledged for an active loan is usually covered by comprehensive insurance as well.

With SIB Gold Xpress Loan, you can get upto 85% of your gold’s current market value and a maximum loan amount of Rs. 25 lakhs. Your gold loan amount also depends on the purity of your pledged gold.

Startups can avail a Gold Loan for Business by submitting valid documents confirming income-generating activities. It is a convenient funding option for first-time entrepreneurs seeking quick capital without a long business history.

You can pay off your gold loan early with minimal or no prepayment penalties. This is a good option for business owners with fluctuating cash flows.

If you are unable to repay your gold loan on time, the lender will send reminders and provide necessary notices to clear the outstanding dues. If the repayment remains unpaid despite these notices, the pledged gold jewellery may be auctioned as per the loan terms to recover the outstanding loan amount.

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