State Bank of India Gold Loan

SBI Personal Gold Loan is a special loan, offered to those who possess gold, lying idle in safes and lockers, but who have financial requirements. Almost all households of India invest in gold as has easy liquidity. With easy repayment facilities provided, this loan has met the needs of many. You can apply for gold loan in SBI at At our website, you can also access SBI EMI calculator and know SBI gold loan eligibility, gold loan features, documents required for gold loan, and gold loans interest rates in SBI for free. provides all the information about Gold Loan in SBI:

State Bank of India Gold Loan: Special Features
  1. The gold ornaments are pledged as security and are returned, when the loan amount is repaid.
  2. The loan amount can be prepaid and no pre-payment charges are levied.
  3. A maximum of Rs. 20 lakh can be availed, depending on the gold pledged with the bank.
  4. Facilities are made to repay the amount through easy EMIs, which is subject to the repayment capacity of the borrower and can range between 30 and 36 months, to meet needs of users according to their capacity.
Gold Loan in State Bank of India: Interest Rates Charged

The interest rate charged is related to various factors. The interest rates range between 13.05% and 17.65% p.a. the SBI has the right to change its interest rates and borrowers have to clarify with the bank about the existing bank rate. The rates mentioned are, as per the norms in May 2016 and may change.

Gold Loan State Bank of India: Eligibility Criteria
  • The borrower should have a minimum age limit of 21 years, to avail the loan.
  • The income generated by the borrower should be steady and be sufficient to repay the loan and the interest.  An individual of any profession can apply
  • The borrower should be only an SBI customer, currently having an account with the bank.
  • The gold that is submitted as collateral should be that of the borrower.
Documents Required for Loan against Gold in SBI

Document to be submitted are: The ID Proof which may be the PAN Card, Drivers license, Voter’s ID, etc; the address proof can be any Utility bill, Drivers License, Passport, etc; two passport size photographs to be attached. The application form to be filled and duly signed.

SBI Personal Gold Loan: Fees and Charges

The processing fee charged on application is very nominal. The amount varies with the amount taken as loan and the gold kept as collateral. The quality of the gold varies and impacts the processing fee.

  • If the gold ornament has no MIS Hallmark: the amount charged is 0.50% and involves a minimum amount of Rs. 250 and maximum amount of Rs. 500.
  • If the gold ornament has no Hallmark,
  1. 250 is the amount charged for loans up to Rs.25,0000
  2. 50% of the loan amount for an amount of Rs. 25,000 and a maximum limit of Rs. 500.