Sunday, July 16, 2017

Full details of SBI Gold Loan | Eligibility, Interest Rate

Do you know State Bank of India provides SBI Gold loan also? That means, you can pledge your gold with SBI and get instant cash. Before applying loan, you can check the purity of gold with you.

Let us discuss the complete details of this feature.

SBI Gold Loan Intro

Bank’s existing customers can avail the loan upto Rs.20 lacs by pledge of gold ornaments including gold coins sold by Banks. It requires minimum paper work and has low interest rate.

SBI Gold Loan Features


Age : 21 years and above

Profession : Anybody with Steady source of income including: Bank’s Employees, Pensioners


MINIMUM : Rs 20,000/-

MAXIMUM : Rs 20lacs/-

MARGIN : 25%

SBI Gold Loan

SBI Gold Loan

Repayment Period
  • Maximum:30 months (For Demand Loan)

  •  36 months (For Overdrfat)

Repayment Mode

The repayment of Principal and Interest should commence from the month following the month of disbursement


Security of gold ornaments.


SBI Gold Loan Interest Rate

Personal Loans (Secured)
Scheme1 year MCLRSpread over 1 year MCLREffective Interest RateReset Period

Gold Loan (all variants)

1 year

You can check the latest rate from the official website of SBI here.

Processing Fees

(i) For BIS Hallmarked Jewellery/ Ornaments and specially minted Gold Coins sold by Banks :

0.50% of the Loan Amount + applicable Service Tax

(Min: Rs 250 ; Max: Rs 500) + applicable Service Tax

(ii) For Non Hallmarked Jewellery/ Ornaments:

(a)Up to Rs 25000: Rs 250 per application + applicable Service Tax
(b)Above Rs 25000: 0.50% of the Loan amount + applicable Service Tax or Rs 500 + applicable service Tax whichever is higher.

Documents Required for SBI Gold Loan

Application Form for Gold Loans
Two copies of photograph of the borrower(s)
Proof of Identity
Proof of Address

Terms and Conditions

You may download SBI Gold loan terms and conditions from here.

If you’ve any doubts on this article, just mention it in the comments section below.

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