If you are in need of quick funds, a personal gold loan can be a great option. As gold is considered a valuable asset, it can be used as collateral to secure a loan. SBI being a reputed name in the market, it is safe and reliable source for gold loan. Necessary information about the loan asked from the bank while applying for the loan. This is a sample letter to SBI applying for personal loan. The letter can be modified according to need and preference.
To
The Manager
SBI
Branch Name
Branch Address
Subject: Application for gold loan
Dear Sir/Madam,
I have been a loyal customer of State Bank of India for many years and have always received excellent service from the bank. I am writing this letter to apply for a personal gold loan from your esteemed bank.
I am in need of financial assistance and a gold loan would be extremely useful for me. As per the terms and conditions, I would like to pledge my gold ornaments worth two lakhs as security for the loan. The value of my gold ornaments is sufficient to cover the loan amount I am applying for.
I would also like to inquire about the EMI options available for the repayment of the loan. I would appreciate it if you could provide me with the details and the repayment schedule. I assure you that I will make timely payments as per the schedule.
I am confident that my loan application will be processed smoothly and efficiently. I look forward to hearing from you soon.
Yours truly,
Your name
Your address
Date:
Place:
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