SBI Gold Loan Interest Rates

SBI offers gold loans at highly competitive interest rates starting from 8.65% per annum, making it an affordable financing option for short-term and medium-term needs. You can avail loan amounts ranging from ₹20,000 to ₹50 lakh, with flexible repayment tenures starting from 3 months up to 36 months, depending on the selected scheme.

With multiple repayment options such as bullet repayment, EMI-based repayment, and overdraft facility, SBI ensures convenience along with lower borrowing costs.

SBI Gold Loan Interest Rates 2026 (Latest Updated)

However, the final rate depends on the loan scheme and the applicable MCLR (Marginal Cost of Funds Based Lending Rate). Below is the updated scheme-wise interest rate structure:

1. EMI Based Gold Loan

This option is suitable if you want to repay the loan in fixed monthly EMIs.

2. 12 Months Bullet Repayment Gold Loan

In this scheme, you pay the principal at the end of 12 months and interest as per bank terms.

3. 3 Months Bullet Repayment Gold Loan

This is a very short-term gold loan option.

4. 6 Months Bullet Repayment Gold Loan

Ideal for borrowers needing funds for half-year duration.

5. SBI Gold Loan Overdraft Facility

This facility allows you to withdraw money as needed within the sanctioned limit.

Comparison of SBI Gold Loan Interest Rates with Other Providers

In the table below, the interest rate of SBI gold loan is compared with the interest rates of some of the top banks and NBFCs

Disclaimer: The interest rates and loan amounts mentioned above are subject to change. For exact interest rates and loan amounts, refer to the websites or contact the respective banks.

Factors Affecting SBI gold loan Interest Rates

The factors affecting gold loan interest rates in India are as follows:

• Loan amount: The interest rate offered by SBI is directly proportional to the loan amount. The higher the loan amount, the higher the interest rate.
• Market price of gold: The market price of gold also influences the gold loan interest rates in India. If the market price of gold is high, the value of the gold articles you are pledging will be high also. So, the interest rate offered is low since the risk associated is lesser.
• Inflation: When the inflation rates are higher, the currency value goes down and people tend to accumulate more gold in this period. Gold acts as a safety wall against inflationary conditions especially when they continue to exist for a longer time. This will lead to a soar in gold price and hence interest rates will be lower.

SBI Gold Loan Interest Rate for ₹1 Lakh

Note: The above EMI values are approximate and calculated for a ₹1 lakh loan amount. Actual EMI may vary depending on the gold valuation, loan scheme, and repayment option chosen.

Features of SBI Gold Loan

• Higher Loan Amount: You can avail a gold loan of up to ₹50 lakh, depending on the value and purity of the gold ornaments pledged.
• Minimum Loan Starting from ₹20,000:SBI offers gold loans starting at ₹20,000, making it suitable for both small and large financial needs.
• Flexible Margin Options: The margin requirement varies from 25% to 35% depending on the loan type such as EMI-based, bullet repayment, or overdraft facility.
• Multiple Repayment Choices: Borrowers can choose EMI repayment, bullet repayment (3, 6, or 12 months), or overdraft facility based on their convenience.
• Gold as Security: The loan is provided against pledged gold ornaments, which are verified for purity and safely stored by the bank until the loan is repaid.
• Easy Renewal Option: For certain bullet repayment schemes, SBI allows loan renewal without re-appraisal of gold if the pledged gold remains with the bank.
• Transparent Appraisal Process: The gold appraisal is done by authorized appraisers, and the charges for the valuation are paid by the applicant.

SBI Gold Loan Eligibility Criteria

To apply for a gold loan from State Bank of India, you must meet the following basic conditions:

• Minimum Age: 18 years or above
• Eligible Applicants: Individuals applying singly or jointly
• Profession: Salaried, self-employed, business owners, pensioners, and SBI employees
• Income Requirement: Must have a steady source of income
• Income Proof: Not mandatory

These simple eligibility norms make SBI Gold Loan accessible and easy to apply for.

Documents Required

1. For Existing SBI Customers with Fully KYC-Compliant Accounts

If you already have a fully KYC-compliant account with SBI, the documentation process is minimal. You need to submit:

• Duly filled P Gold Loan Application Form
• Two recent passport-size photographs

Since your KYC details are already verified, no additional identity or address proof is required.

2. For Existing Customers Updating Address or Other Details

If you are an SBI customer but need to update your address or other KYC information, you may need to provide a few additional documents:

• Duly filled Gold Loan application form
• Copy of the relevant Officially Valid Document (OVD) showing the updated information
• Two latest passport-size photographs

These documents help the bank update your KYC details before processing the loan application.

3. For New Customers or Non-KYC Compliant Applicants

If you are applying for an SBI Gold Loan for the first time or your bank account is not KYC compliant, the following documents are usually required:

• Completed Gold Loan application form
• Identity proof and address proof using any Officially Valid Document (OVD)
• Two recent passport-size photographs

Once the documents are verified and the gold valuation is completed, the bank can proceed with the loan approval process.

The following Officially Valid Documents (OVDs) are accepted as identity and address proof for applying for an SBI Gold Loan: Passport, Aadhaar Card, Voter ID Card, Driving Licence, and MGNREGA Job Card.

SBI Gold Loan Charges and Fees

These processing charges are applicable across all variants of personal gold loan schemes.

How to Apply for SBI Gold Loan?

You can apply for State Bank of India Gold Loan through the following steps

Step 1: Go to the nearest branch of State Bank of India that provides gold loan services.

Step 2: Bring your gold jewellery along with basic KYC documents like Aadhaar Card or PAN Card.

Step 3: Inform the bank staff that you want to apply for a gold loan and complete the application form.

Step 4: The bank will check the purity and weight of the gold ornaments to determine their value.

Step 5: Based on the gold valuation, the bank will decide the eligible loan amount you can receive.

Step 6: Once the loan is approved, the amount will be transferred to your bank account.

Step 7: After you repay the loan and interest within the agreed period, your pledged gold jewellery will be returned safely.

Disclaimer: The features, eligibility, documents required, and the application process for the State Bank of India gold loan scheme are subject to change. For exact information on them, refer to the SBI website or contact the bank.