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Home » India » State Bank of India » Gold Loan

SBI Gold Loan

Gold is considered to be one of biggest asset during crises or unwanted situation and comes under secured personal loan. By using the power of gold you can easily avail a loan in no time and in a convenient way. Loan against gold can be used for expanding business or to getting fulfilled your different financial requirements like unforeseen medical emergencies, higher education, marriage or planning a family vacation etc. by mortgaging your Gold ornaments, Coins or bars etc.

SBI Gold loan is offered at competitive rates and that to with doorstep banking facility with minimum paper work and low interest rate. The SBI Gold Loan is the main attraction these days among the Indians as it is designed in such a way for receiving cash in no time without any hassles or any complicated rules and regulations.

The existing customers of State Bank of India can get a loan of up to Rs 10 lacs. The bank also offers gold loan for farmers under the agricultural loan scheme. The agricultural gold loans are mainly given to the farmers who are engaged in agricultural or any allied activities. This loan can be repaid over a period of 3 years. The minimum gold loan limit for rural areas is Rs 5000/- and Rs 10,000/- for urban areas. However, the maximum loan amount is Rs. 10 lacs. In addition to this the bank also allows to opt for the Gold Deposit Scheme.

SBI Gold Loan Eligibility

The gold Loan amount eligibility is determined on current market rates of the gold. Usually the banks offer the customers a loan of 70-80% of the gold market value. The main benefit of taking this loan is that it does not involve much paper work and the interest rates are low. The eligibility condition are easy as any one who is 21 years old and has a fixed source of income including Bank’s Employees and Pensioners can apply for this loan scheme. The gold loan repayment period is 30 months. After repaying thee gold loan all the gold deposits are returned back to the customers by the bank.

SBI Gold Loan Documents

You need to submit the below mentioned documents before applying for the gold loan:



  • Gold Loan application.
  • DP Note delivery.
  • Two passport size photographs of the borrower.
  • All the gold ornaments that are to be kept as mortgage for the loan.
  • Letter of witness in case of illiterate borrowers.

SBI Gold Loan Interest Rate

Given below are the gold loan interest rates 2012. You can see the below mentioned table and understand what are the rates that will be applied to your gold loan. Please remember that the interest rates are subjected to change and therefore you are requested to contact the bank branch before applying for the gold loan.

Credit LimitRate of Interest
Upto Rs. 1,00,000/-4.25% above Base Rate Floating, currently 14.25% p.a
Above Rs. 1,00,000/-4.75% above Base Rate Floating, currently 14.75% p.a

You can also calculate the interest rate of your gold loan with the help of EMI calculator. The calculator is available on the website of the bank and you can also make use of it by entering certain details about the gold loan like amount of the loan, duration of the loan, EMI amount and you will know the interest rate that will be applied to your loan. For the convenience of customers the bank offers online payment option to make payment of their loan hassle free.

Following table highlights the fees and charges of the SBI gold loan.

Loan amountFees(Rs)
Loans up to Rs.25,000Rs.500/- per application
loans above Rs.25,000/-Rs.1000/ or 1% of the loan amount which ever is higher

SBI Gold Loan Customer Care

You can at any time dial the customer care numbers 1800 11 22 11 or 080-2659 9990 which is toll free and speak with the customer care representatives and know more details about the SBI loan. You can also send an email to contactcentre@sbi.co.in or visit the website of the bank for making any enquiry about the loan. In addition to this you can read the terms and conditions about the terms and conditions of the SBI gold loan carefully.


Last Updated On: 2012/09/21



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