Context:
South Indian Bank has introduced a new gold loan product, ‘SIB Gold Xpress’, aiming to offer quick and transparent credit access.
Target Audience & Advantages:
- Designed for MSMEs, small businesses, and individuals, particularly first-time or “new-to-credit” borrowers.
- Funds can be used for business expansion, working capital, or personal needs, offering fast, credit-helpful solutions.
What’s New:
- Borrowers can get loans worth up to 90% of their pledged gold’s value.
- Loan amounts range from ₹25,000 to ₹25 lakh, with tenures of up to 3 years.
- The process is digital and hassle-free, with zero hidden charges and a nationwide network ensuring convenience and security.
