How to Apply for SBI Gold Loan? Schemes, Interest Rates, Eligibility Criteria

Are you interested to take Gold loans from the SBI bank? Then, know how to apply for gold loans, types of gold loans, and its interest rates. So if you have any gold assets which are aside can help you avail of these assets by earning instant cash to meet your personal needs or business purposes if you face any cash shortage. Know features of the SBI gold loan schemes below.


Features of SBI Gold Loan:

  • The security required to avail SBI loan is to deposit gold assets including gold coins issued by the SBI bank.
  • Your gold valuables will be safe within the SBI bank and it is not sold to anyone.
  • The maximum amount of loan that users can avail is Rs.20 lakhs.
  • SBI customers can get surely get an Rs. 10,000 as the minimum amount of loans in rural and semi-urban areas.
  • For urban and metro areas SBI users can avail of a minimum loan amount of Rs.20,000.
  • The applicant has numerous choices to borrow any loan amount as per their needs.
  • The SBI customer can take a loan amount as long he stays within the range of minimum and the maximum loan limits.
  • Applicant should handover the Gold ornaments or jewelry to the bank while availing the loan scheme.
  • Customers can also pledge Gold coins issued by SBI to avail of a specific SBI gold loan.
  • The process of checking gold assets, sanctioning a specific loan, and disbursing loan amount is quite fast and simple with the SBI bank.
  • The SBI bank needs general verification documents that are easily available with the individual to avail the loan amount under the Gold Loan scheme.
  • While making the payment of the loan installments, customers are charged a very low rate of interest (2% + 1yr. MCLR = 11.05%) upon their loan amount.
  • The applicant receives 75% of the value for his gold pledged with the bank and the remaining 25% is maintained by the bank as margin.
  • The State bank of India Gold Loan payers should ensure the repayment of loan installments within the tenure of 30 months for demand loan and for overdraft the maximum tenure period is 36 months.
  • The installment for a gold loan will start from the later month from the date of loan disbursement.

Also, Check – SBI Internet Banking Guide.

Interest Rates:

SBI bank charges 2.00% as a rate of interest on the gold loan above 1 year MCLR of 9.15% per annum making the total ROI to 11.15% per annum.


  1. Gold loan application form
  2. Two latest photos
  3. Identity Proof – Copy of PAN/Aadhar Card
  4. Address Proof

Eligibility Criteria:

  • The SBI existing applicant should have the age of 21+ years.
  • Applicants should have a constant income source.

I hope the post helps you to avail of the gold loan schemes of SBI easily and fastly to meet your purposes.


Natraj Studied bachelor's degree in finance and business from Telangana University, Nizamabad. A Writer based In India, He has a degree in Charted Accounts and has very knowledgeable in credit repair and Banking Sectors. So, I decided to start a blog and share my knowledge to the visitors.

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