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SBI Bank Gold Loan

SBI Bank Gold Loan


Of Appraised Gold Value


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Overview SBI Bank Gold Loan

SBI bank Gold Loan can be availed by pledging your gold, gold ornaments or gold coins as collateral or security against the loan. SBI bank assures to safely return the collateral upon timely repayment of the loan. The bank has an easy loan application process and loan approval along with instant loan disbursal. The interest rate on SBI bank gold loan is 7.50% onwards.

SBI bank gold loan – details all borrowers should know

Here are some of the key details of SBI bank gold loan that every borrower should know before making an application:

  • Reason for loan – A borrower can use the gold loan amount to meet many financial needs such as education, marriage, medical needs, etc. It is important to note that the loan amount cannot be used for any illegal or speculative activities
  • Loan amount – One can avail of a loan amount ranging between Rs. 20,000 and Rs. 50 lakhs from SBI bank
  • Loan tenure and margin – The loan repayment tenures and margins for different gold loan schemes are as given in the table below:
SBI Gold Loan SchemesLoan TenureMargin

Gold Loan

36 months


Bullet Repayment Gold Loan

12 months


Liquid Gold Loan

36 months


  • Gold quantity – The SBI gold loan amount per gram of gold is communicated to the borrower at the time of application
  • Gold items accepted – SBI gold loan is provided against gold ornaments. The bank checks the gold weight and purity through a nominated appraiser
  • SBI Gold Loan interest rates for various schemes are in the table below:
SBI Gold Loan Schemes1 Year MCLRSpreadInterest rate applicable

Gold Loan (all variants)



7.50% onwards per annum

Realty Gold Loan – applicable to SBI home loan customers only



7.30% onwards per annum

SBI bank Gold Loan – features and benefits

SBI gold loan comes with a host of attractive features, some of which are mentioned below.

  • The flexibility of loan amount – A borrower can avail gold loan amounts between Rs. 20,000 and Rs. 50 lakhs.
  • Flexible repayment tenure – The gold loan can be repaid through easy EMIs as the bank offers a maximum repayment period of 12 to 36 months.
  • Flexible repayment options – A borrower can opt for a gold loan, liquid gold loan, or bullet repayment gold loan to make repayments towards SBI gold loans.
  • Return of collateral – Gold items pledged as collateral are returned by the bank upon repayment of the loan.
  • Instant approval – SBI bank gold loan is very easy to avail since it has a very quick approval process and involves minimal documentation.
  • Low processing fees – SBI bank has a very low processing fee of 0.25% on the gold loan amount.
  • Option of prepayment – SBI bank gold loan borrowers can prepay their loan as there are no prepayment charges applied.

Additional read – Know the bank interest rate on gold loan for farmers

What are the eligibility criteria for an SBI bank gold loan?

Applicants who want to borrow a gold loan offered by SBI bank must satisfy some of the basic eligibility criteria laid out by the bank:

  • Age – An applicant’s age must be a minimum of 18 years to qualify for this loan.
  • Income – An applicant must show evidence of a steady source of income. The borrower must be employed in a profession, have enough means to repay the loan. For bankers and pensioners, the bank does not require any proof of income to be submitted during loan applications.

What are the documents required for an SBI bank gold loan?

  • Proof of identification – A valid, government-approved ID Proof (PAN card, DL, Voter’s ID, etc.)
  • Address proof – A valid, government approved address proof (Utility bill, Passport, DL, etc.)
  • Two recent passport-sized photographs
  • Duly filled and signed application form

At the time of loan disbursement, the following documents must be provided to SBI bank:

  • Arrangement letter
  • DP Note 
  • Gold ornaments taken - delivery letter

End Note

One can apply for an SBI bank gold loan from the bank’s website. After entering the required details such as loan amount needed, name of the applicant, mobile number, address, etc. an applicant can click on continue. By following the on-screen instructions, one can complete the entire application process easily. The bank will ensure that a borrower gets the desired gold loan at the earliest without any hassles.

Frequently Asked Questions

1. What is the margin in gold loan?

SBI bank charges a 25% margin on gold loans whereas it is 35% for bullet repayment and liquid gold loan schemes.

2. What is the ratio of the gold loan per gram in SBI?

While SBI bank calculates the ratio of the gold loan per gram of gold, the minimum gold loan amount offered by the bank is Rs. 20,000.

3. What is the procedure to get a gold loan from SBI?

Gold loans from SBI can be availed in the form of an overdraft facility or one can also opt for a demand loan. The application process for the same can be carried out online through the bank’s website or offline by visiting the nearest branch.

4. What is the tenure for a gold loan in SBI?

The maximum repayment tenure for gold and liquid gold loans is 36 months, whereas it is 12 months for bullet repayment gold loan from SBI.

5. What happens if a gold loan is not paid in SBI?

At the time of taking a gold loan from SBI, one has to pledge physical gold as collateral against the loan. Any repayment failure, for three or more consecutive payments, will ultimately result in the gold getting auctioned by the bank.

6. How do I repay my SBI gold loan?

SBI bank gold loan can be repaid through EMIs, within 12 to 36 months, depending on the type of loan availed. The repayment method is different for gold loan, liquid gold loan, and bullet repayment gold loan offered by SBI bank.

7. How do I cancel my SBI gold loan?

You can request for cancellation of the SBI bank gold loan if you do not require the loan amount. This can be done within the stated period from the loan agreement date.

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