South Indian Bank launched a new gold loan product, SIB Gold Xpress, for quick and convenient credit access.
Borrowers can unlock up to 90% of gold’s value, with loans ranging from ₹25,000 to ₹25 lakh and tenure up to three years.
Product targets MSMEs, non-MSMEs, and small businesses for business expansion, working capital, or personal ventures.
Private sector lender South Indian Bank on Friday said it launched a new gold loan product, SIB Gold Xpress, designed to offer customers quick and convenient access to credit.
With this scheme, borrowers can unlock up to 90% of their gold's value, availing loans ranging from ₹25,000 to ₹25 lakh with a flexible tenure of up to three years, the bank said in a statement.
Targeted at MSMEs, non-MSMEs, and small businesses, the product enables customers to fund business expansion, working capital needs, or personal ventures with ease, it said, adding that the loan comes with zero hidden costs, ensuring complete transparency for borrowers.
The eligibility process for SIB Gold Xpress is simple, hassle-free, and the whole end-to-end process can be completed digitally, allowing even new-to-credit customers to avail loans through basic checks, it said.
Customers can pledge their jewellery with complete safety assurance and benefit from South Indian Bank's PAN India network, it added.
