The bank enables its customers to capitalise on an age old investment option by offering quick finance against the invaluable asset gold. One can get either gold loan called gold rush scheme or overdraft facility against the pledge of gold which is called gold power scheme. South Indian Bank Gold Loan Review states that it is an attractive loan which customers are willing to take as the South Indian Bank Gold Loan Interest Rate is attractive and the South Indian Bank Gold Loan Eligibility is easy to achieve.

South Indian Bank Gold Loan Interest Rate:

The current South Indian Bank Gold Loan Interest Rate is discussed below.

South Indian Bank Gold Loan Interest Rate is calculated on a base rate of 8.80%. South Indian Bank Gold Loan Rate for Gold loan is BR + 4.4%. South Indian Bank Gold Loan Rate for overdraft is BR + 4.4%.

South Indian Bank Gold Loan Eligibility:

According to the South Indian Bank Gold Loan review the South Indian Bank Gold Loan Eligibility criteria are:

• ·A customer with good dealing with the bank is eligible for the South Indian Bank Gold Loan.
• ·The customer needs to produce documents which state his ownership of the gold for South Indian Bank Gold Loan Eligibility.

South Indian Bank Gold Loan Documentation:

According to the South Indian Bank Gold Loan Review these documents are required for South Indian Bank Gold Loan

Eligibility:

Filled Application Form

Two Photographs

Proof Of Identification

Proof Of Residence

Affidavit stating the ownership of the gold

South Indian Bank Gold Loan Review shows that South Indian Bank Gold Loan can be availed for maximum loan tenure of 12 months which can be repaid in equated monthly instalments. The loan will be processed according to the banking procedure once the documents have been submitted. The loan can be prepaid however the prepayment clause needs to be found from the bank.

South Indian Bank Gold Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on South Indian Bank Gold Loan eligibility and South Indian Bank Gold Loan Interest Rate etc. are on the official site at http://www.southindianbank.com/content/viewContent.aspx?linkIdLvl2=12&linkId=87