When does the repayment process begin?

The borrower is required to begin making monthly installments, or EMIs, one month after the loan has been granted. Loan payments should begin by February, for example, if the loan was received in January.

Will I get a letter of acknowledgement once the funds are distributed

Yes, a delivery note containing the quantity, volume, purity, and other important details of the gold jewellery will be sent to you. Store these documents securely as you will need them after the account is cancelled.

Is the borrowed amount the current SBI gold loan rate per gram?

Yes. You receive the loan in accordance with the current gold rates.

Do demand loans and overdrafts have different conditions for repayment?

Yes, a demand loan's maximum repayment length is 36 months.

Can I make a partial payment and still get some of the jewellery?

Your gold ornaments will be given to you once the last payment has been made.

Is a co-applicant required in order for the SBI Gold Loan to be authorised for me?

No, a co-applicant is not necessary to be approved for an SBI Gold Loan.

SBI Gold Loan

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SBI Gold Loan is offered with loan amount up to Rs.50 lakh and interest rate starting from 9.00% p.a. The repayment tenure is up to 3 years with processing fee charged at 0.50% of the loan amount.

Updated On - 06 Sep 2025

Interest Rate	9% p.a. -10.20% p.a.
Loan Amount	Up to Rs.50 lakh
Loan Tenure	Up to 3 years
Processing Fee	0.50% of the loan amount + GST subject to a minimum of Rs.500

SBI Gold Loan Interest Rates

Interest rates for SBI Personal Gold Loan Scheme starts at 9.00% p.a. with SBI having the sole discretion to change or modify rates. Borrowers are expected to check the current prevailing rates before applying for a loan.

Due to the financial impact created by the outbreak of Covid-19, SBI is offering a gold loan scheme known as Gold Loan for Covid Warrior on Bullet Repayment where the interest rate starts at 9.00% p.a. Check with the bank whether you meet the eligibility criteria before availing this gold loan scheme.

Note: Rates mentioned above are as of 30 September 2021 July 2020 and are liable to change.

Check latest gold loan interest rate offered by other banks.

Features of SBI Gold Loan

SBI Gold Loan comes with a host of attractive features, some of which are mentioned below.

Flexible loan amount - One can avail loans between Rs.20,000 and Rs.50 lakh.
Flexible repayment tenure - The loan can be repaid through EMIs, with the maximum period ranging between 12 months and 36 months.
Flexible loan repayment modes - A customer can use gold loan, liquid gold loan, or bullet repayment gold loan methods to make payments for their SBI Personal Gold Loans.
Security - Gold items provided as security are returned on repayment of loan.
Fast approval - This loan is easy to avail, with quick approval and minimal documentation.
Low processing fee - SBI charges a processing fee of 0.25% of the loan amount.
Prepayment - Borrowers can choose to prepay their loan, with no prepayment charges levied by SBI.

Eligibility Criteria to Avail an SBI Gold Loan

Individuals who wish to avail a loan under this Gold Loan scheme need to satisfy a few basic eligibility criteria.

Age - A borrower should be at least 18 years old in order to qualify for this scheme.
Income - An applicant should have a steady source of income. He/she could be employed in any profession, having sufficient means to repay the loan. If you are a banker or a pensioner, then you will not be required to submit any proof of income.

Documents Required for SBI Gold Loan

ID Proof - A valid, government approved ID Proof (PAN card, DL, Voter's ID, etc.)
Address proof - A valid, government approved address proof (Utility bill, Passport, DL, etc.)
Photographs - Two passport size photographs of applicant
Form - Duly filled and signed application form

The following documents have to be provided to the bank at the time of disbursement of the loan amount:

Arrangement Letter
Gold Ornaments Take Delivery Letter
DP Note
DP Note Take Delivery Letter

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Fees and Charges associated with SBI Gold Loan

Unlike other banks, SBI charges a nominal fee to process an application, with this amount depending on the quality of gold offered as collateral.

SBI charges a processing fee of 0.25% of loan amount, subject to a minimum of Rs 250 and no processing fee if applied through YONO.

*Note: Applicants will have to pay the applicable GST along with the processing fee.

How SBI Compares with Other Lenders

Fees and charges	SBI Gold Loan	HDFC Bank Gold Loan	Axis Bank Gold Loan
Interest rate	9.00% p.a. onwards	9.30% p.a. onwards	17% p.a. onwards
Processing fee	0.50% + GST	1% + GST	0.50% + GST
Foreclosure charges	N/A	1% of the outstanding loan amount	0% - 2% of the loan amount
Penal Interest	N/A	N/A	2% of the overdue amount per month onwards

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FAQs on SBI Gold Loan

When does the repayment process begin?
The borrower is required to begin making monthly installments, or EMIs, one month after the loan has been granted. Loan payments should begin by February, for example, if the loan was received in January.
Will I get a letter of acknowledgement once the funds are distributed
Yes, a delivery note containing the quantity, volume, purity, and other important details of the gold jewellery will be sent to you. Store these documents securely as you will need them after the account is cancelled.
Is the borrowed amount the current SBI gold loan rate per gram?
Yes. You receive the loan in accordance with the current gold rates.
Do demand loans and overdrafts have different conditions for repayment?
Yes, a demand loan's maximum repayment length is 36 months.
Can I make a partial payment and still get some of the jewellery?
Your gold ornaments will be given to you once the last payment has been made.
Is a co-applicant required in order for the SBI Gold Loan to be authorised for me?
No, a co-applicant is not necessary to be approved for an SBI Gold Loan.

Important Personal Loan Pages

Personal Loan Eligibility by Banks

Personal Loan Interest Rates by Bank

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

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