SBI Gold Loan Interest Rate

Below are the details of current SBI gold loan interest rates with effect from 15.08.2022:

SBI Personal Gold Loan

SBI gold loan interest rate for any loan amount: 0.30% above the 1-year MCLR (7.70%)

Below is the comparison of the SBI gold loan rate of interest with other lenders. You can check the interest rates of top lenders to see which is the best gold loan bank available in India before you apply for the loan.

Following are the key features of SBI gold loan: 

• State Bank of India gold loan can be availed of by pledging gold ornaments including gold coins sold by banks with minimal paperwork and low gold loan interest rate.
• The loan amount available as an SBI gold loan ranges from a minimum of Rs. 20,000 to and a maximum of Rs. 50 Lakhs.
• The margin requirements are as follows:
  • Gold Loan: 25%
  • Liquid Gold Loan: 25%
  • Bullet Repayment Gold Loan: 35%

• The borrower has to pledge their gold ornaments as security, duly verified for quality and quantity.
• The processing fee is nil till 31.01.2023. Under the Festive Period offer.
• SBI jewel loan interest rate is 0.30% above the 1-year MCLR (i.e. 7.30%) for any loan amount. The current interest rate is 8% p.a.
• The applicant also has to pay gold appraiser charges.
• Margin: 
  • SBI Realty EMI Gold Loan: 25%
  • SBI Realty Liquid Gold Loan (Overdraft): 25%
  • SBI Realty Bullet Repayment Gold Loan: 35%

• Repayment tenure: Maximum 36 months for Gold Loan and Liquid Gold Loan, and 12 months for Bullet Repayment Gold Loan. 
• Repayment mode:
  • Gold Loan EMI Based: Under this mode, the repayment of principal and interest begins from the month following the disbursement month.
  • Liquid Gold Loan: It is an overdraft account with a transaction facility, and monthly SBI gold loan interest has to be paid.
  • Bullet Repayment Gold Loan: Maximum 36 months for Gold Loan and Liquid Gold Loan, and 12 months for Bullet Repayment Gold Loan. Drawing power may change according to the current market price of gold within the sanctioned limit.

SBI offers the following two types of gold loans:

SBI Personal Gold Loan

• Minimum loan amount: Rs. 20,000.
• Maximum loan amount: Rs. 50 Lakhs.
• Margin: 25% to 35%.
• Security: Pledge of gold ornaments verified for quality and quantity.
• State Bank of India gold loan interest rate: 8% p.a.
• Processing fees: Nil till 31.01.2023.
• SBI gold loan eligibility: Any individual (singly or jointly) aged 18 years and above with a steady source of income, including the bank’s employees and pensioners. No income proof is required.
• Repayment mode: Gold Loan EMI Based, Liquid Gold Loan, and Bullet Repayment Gold Loan. The repayment has to be done on or before the term of the loan or on the closure of the account.
• Repayment tenure: 12 to 36 months.

SBI Realty Gold Loan

• Minimum loan amount: Rs. 50,000.
• Maximum loan amount: Rs. 50 Lakhs.
• Margin: 25% to 35%.
• Security: Pledge of gold ornaments verified for quality and quantity.
• SBI gold loan interest rate: 8% p.a.
• Processing fees: Nil till 31.01.2023.
• SBI gold loan eligibility: Existing as well as new housing loan borrowers of SBI aged 18 years and above can apply for this loan.
• Repayment mode: SBI Realty EMI Gold Loan, SBI Realty Liquid Gold Loan, and SBI Realty Bullet Repayment Gold Loan. The repayment has to be done on or before the term of the loan or on the closure of the account.
• Repayment tenure: 12 to 36 months.

Today's SBI gold loan rate per gram is between Rs. 4,961 to Rs. 5,167. The rate per gram depends on various factors, such as gold rate today, rate of interest, tenure of repayment, gold’s purity and value, gold loan scheme, and so on.

You can use our SBI bank gold loan calculator to know the amount you need to pay every month throughout the loan tenure for the SBI gold loan. Knowing your EMI beforehand will help you plan your finances in advance and reduce the chances of default.

Follow the steps mentioned below to use the gold loan calculator:

• Go to the Gold Loan EMI Calculator page.
• Enter the desired loan amount, SBI gold loan rate of interest, and repayment tenure
• Once you enter all the required details, you will see the Equated Monthly Instalment (EMI) amount on the screen.

EMI calculator also assists in determining which gold loan offer is best for you. You can use this tool multiple times without a cost.

Following are the charges applicable for SBI gold loan:

• Interest rate: SBI gold loan interest rate starts from 8% p.a., which is among the lowest gold loan interest rates. The SBI gold loan interest is linked to its 1-year MCLR, which is 7.70% at present. 
• Processing fee: Currently, the processing fee for the SBI gold loan is Nil till 31.01.2023 under the Festive Period offer. Otherwise, it is 0.25% of the sanctioned loan amount, subject to a minimum of Rs. 250 + applicable GST. Also, if you apply for the loan through YONO mobile app, you don’t have to pay a processing fee. 
• Gold appraiser charges: Apart from the SBI bank gold loan interest rate and processing charges, you will also be required to pay gold appraiser charges. These are shared at the time of application.

Following is the list of documents required for gold loan at SBI:

• Documents required to apply for the loan
  • Gold Loan application with 2 copies of photographs
  • Proof of identity and address
  • Witness Letter in case of illiterate borrowers
• Documents required at the time of disbursement
  • DP Note & DP Note Take Delivery Letter
  • Gold Ornaments Take Delivery Letter
  • Arrangement Letter

You can easily apply for an SBI gold loan online through our website by following the steps given below:

• Visit MyMoneyMantra and then click on the Gold Loan tab mentioned under the Loans dropdown menu.
• Now fill in the online application form by keying in all the required details like your name, phone number, email id, required loan amount, address, etc.
• Then click on the checkboxes.
• Click on the ‘Let’s Go’ button to complete your application. 
• The best gold loan offers will then be displayed on your screen as per your eligibility.
• Choose the one that suits our requirements. 
• Our gold loan experts will get in touch with you soon. 

You can also apply for the SBI gold loan through any of the following options:

• Visit the official website of SBI and fill up the gold loan application form online under the Gold Loan page. 
• You can dial 1800 11 2211 for information regarding the SBI gold loan application process.
• Give a missed call on 7208933143 and get a call back from SBI’s Contact Centre.
• You can also SMS “GOLD” on 7208933145 and get a call back from SBI’s Contact Centre