SIB Gold Xpress: South Indian Bank’s New Gold Loan
Why in the news
South Indian Bank introduced a gold-backed loan meant to give fast and open access to credit.
Key facts
- Product: SIB Gold Xpress by South Indian Bank.
- Loan up to 90% of the pledged gold’s value.
- Amount: ₹25,000 to ₹25 lakh; tenure up to 3 years.
- Process is digital, with zero hidden charges and a nationwide network.
| Feature | Detail |
|---|---|
| Borrowers | MSMEs, small businesses, individuals, new-to-credit customers |
| Uses | Business expansion, working capital, personal needs |
| Maximum loan-to-value | 90% of gold value |
| Ticket size | ₹25,000-₹25 lakh |
| Tenure | Up to 3 years |
Exam angle
- Bank: South Indian Bank; product: SIB Gold Xpress.
- Maximum financing: 90% of pledged gold value.
- Ticket size: ₹25,000 to ₹25 lakh.