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Get gold loans in India that are best matched to your credit profile
Of Appraised Gold Value
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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.
Here are some of the key details of SBI bank gold loan that every borrower should know before making an application:
Bullet Repayment Gold Loan
Liquid Gold Loan
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 gold loan comes with a host of attractive features, some of which are mentioned below.
Additional read – Know the bank interest rate on gold loan for farmers
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:
At the time of loan disbursement, the following documents must be provided to SBI bank:
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.
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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