2,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 500* on Gold Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

SBI Gold Loan Interest Rate

SBI Gold Loan Interest Rates: Details 2021

Last Updated 08th Oct 2021

SBI Bank Gold Loan is most popular for agriculture loan on gold as it offers the lowest interest rate on agricultural gold loan starting at 7.00%. Gold Loan interest rate in State Bank of India for regular borrowers is higher than the rate offered by the bank on loans for agricultural purposes. Today's SBI gold loan rate per gram is between ₹ 4,690 to ₹ 5,055. Check Best Offers.

SBI Gold Loan Rate 7.00% onwards
Processing Fee 0.50% of the loan amount, minimum-₹ 500
Loan Tenure 3 months to 36 months
Loan Amount ₹ 20,000 to ₹ 50 Lakh
Prepayment Charges Nil
Gold Loan SchemeEMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Cashback

SBI Gold Loan

SBI gold loan can be availed by pledging your gold ornaments for meeting urgent personal expenses like children's education, marriage and other financial emergencies in family or business. The gold mortgaged acts as a security to the loan. Taking a loan from SBI has the following benefits:

  • SBI offers loans against gold with simple documentation, quick processing, and no hidden charges.
  • You can avail gold loans of long tenure of 30 months.
  • SBI has a special agricultural gold loan scheme for borrowers engaged in farming and looking to borrow funds for meeting their farming expenses. SBI interest rate on agricultural gold loans is lower than that of its regular gold loan scheme.

Current SBI Gold Loan Interest Rate

SBI gold loan interest rate currently starts at 7.00% and goes up to 7.50%. The lowest interest was decreased by 0.3% on 07 Oct, 2021. You can avail jewellery loans for any purpose for a maximum tenure of 36 months. SBI offers a gold loan at the cheapest rates as it is a secured loan and has multiple repayment options like the gold loan EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme.

SBI Gold Loan Details

  • Purpose of Gold loan: To meet personal and business expense requirements
  • Collateral: Loan against security of your gold jewellery
  • Type of Gold Accepted: Gold jewellery of up to 50 grams with a purity of 18 to 22 carat
  • Customer Segments: SBI offers jewel loans to all individuals above 18 years of age, including salaried, self-employed professionals, businessmen, students, pensioners and housewives
  • Gold Loan Features
    • SBI gold loan interest rates starts from 7.00% to 7.50%
    • SBI charges a processing fee of 0.50% of the loan amount, minimum-₹ 500
    • Loan Tenure of Gold Loan ranges from 3 months to 36 months
    • The lowest EMI per lakh on Gold Loan from SBI is offered at the lowest gold loan interest rate and at the longest loan tenure.
    • SBI allows prepayment of jewel loans with Nil charges
  • Popular Gold Loan Schemes of SBI

Documents Required for SBI Gold Loan

The documentation process of SBI is smooth. You need to submit one proof of identity and one proof of address to get a SBI gold loan. The list of identity and address proofs is as follows:

  • Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card
  • Address proof: Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement

Comparison of SBI Gold Loan with other Banks

Gold loan interest rates in SBI are very affordable. However, you must analyze multiple banks and their offers before applying for a jewellery loan.

Particulars SBI Manappuram HDFC Bank
Current Interest Rate 7.00% - 7.50% 7.00% - 29.00% 9.00% - 15.00%
Previous Lowest Interest Rate 7.30% 7.30% 7.00%
Lowest Rate Difference -0.3% -0.3% 2%
Processing Fees 0.50% of the loan amount, minimum-₹ 500 ₹ 10 (to be paid at time of settlement) 0.20% of loan amount
Loan Tenure 3 months to 36 months 1 day to 6 Months 3 months to 24 months
Loan Amount ₹ 20,000 to ₹ 50 Lakh ₹ 1,000 to ₹ 10 Lakh ₹ 25,000 to ₹ 10 Lakh
Foreclosure Charges Nil Nil Zero prepayment charges post 6 months
Repayment Options Y Y Y
Lowest EMI Per Lakh ₹ 3,088 per lakh ₹ 17,009 per lakh ₹ 4,568 per lakh

How can I get a Gold Loan from SBI?

You can apply for a gold loan with SBI directly through branch walk-in or by filling an online application form.

  • To get the best gold loan rate offers and comparison of all banks, you can apply online through MyLoanCare.
  • MyLoanCare will give you a detailed comparison of gold loan schemes of all banks, calculate your gold loan eligibility and connect you to the best bank for gold loan.
  • Customer representatives of the bank will instantly contact you to fix up an appointment for a branch visit.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

You can get a gold loan in a single branch visit, during which SBI will do an appraisal of your jewellery in terms of its purity and weight. If the jewellery meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewellery.

SBI Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in SBI is 7.00%. The factors that affect the SBI gold loan interest rate are loan amount, loan tenure and loan required as a percent of the value of gold jewellery. SBI’s existing account holders get a gold loan at the best rates compared to other customers.

  • Loan Amount: The amount of gold loan you avail from SBI depends on the weight of jewellery you can pledge with the bank. SBI offers a loan per gram of gold which differs by the purity of gold and loan to value ratio offered. The Bank offers loans between ₹ 20,000 and ₹ 50 Lakh. The gold loan interest rate SBI is lower for higher loan amounts.
  • Relationship with the Bank: SBI offers special rates, offers and charges to the existing account holders of the bank. Those who have made their payments on time in the past can benefit from a low gold loan interest rate from SBI.
  • Loan tenure: SBI offers gold loans for a tenure of 3 months to 36 months. The interest rate is higher for short tenure gold loans.
  • Loan to Value ratio: Maximum gold loan to value ratio on gold jewellery has been fixed at 75% by RBI. However, SBI also offers loans at lower LTVs. The interest rate on loans with lower LTV will be lower compared to loans with higher LTV. The maximum LTV offered by SBI is 75% calculated on the net weight of gold in your jewellery.
  • Purpose of Loan: All banks, including SBI, also offer gold loans for agricultural purposes at low concessional rates, as the same is counted under priority sector lending targets of the bank. SBI's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.

SBI Gold Loan Charges

In addition to interest rates, SBI also carries some other charges while offering gold loans which includes:

  • Processing fees – SBI charges minimum processing fees of 0.50% of the loan amount, minimum-₹ 500 . To get the lowest fee, gold loan interest rates comparison, offers and cashback apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allow prepayment of gold loans and typically levy prepayment or foreclosure charges i.e. Nil.
  • Stamping charges - Stamping charges are charged for the transference of ownership of tangible assets. The charges are as per the respective State's Stamp Act.

SBI Gold Loan Schemes

SBI offers several gold loan products to meet your various financial requirements. These include loans with different repayment options

  • SBI Personal Gold Loan
    • SBI Personal Gold Loan is a gold loan that you can avail against gold ornaments including gold coins. You can avail of loan amount ranging from Rs. 20,000 to upto Rs. 50 Lakhs by giving a missed call or sending a SMS GOLD on 7208933145.
  • Gold Loan with Bullet Repayment
    • SBI offers a bullet repayment option for its gold loans. Under this, customers can pay the entire principal amount of the loan at the end of the tenure.
    • This results in lower monthly payments (consisting of only interest component) during the life of the loan, reducing the burden significantly.
    • This repayment option is more prevalent for gold loans of short tenures.
  • Gold Loan for Agriculture
    • SBI offers this scheme for farmers wherein, loan is offered to them against gold ornaments in order to meet farming expenses.
    • Presenting a proof of farming activity and ownership of an agriculture land is mandatory. The end use of the gold loan must be mentioned by the borrower.
    • The current rates for SBI Gold Loan for Agriculture are in the range of 7-9.95%.


Has SBI reduced the interest rate on the gold loan?

Yes, SBI has reduced the lowest interest on gold loans as effective from 07 Oct, 2021. Presently, SBI offers gold loans starting at 7.00%, which is a decrease of 0.3% from the previous rates of 7.30%.

How much gold loan can I avail from SBI?

You can get upto ₹ 50 Lakh as a gold loan from SBI. However, the maximum loan amount depends on the value of the gold you pledge. SBI funds upto 75% of the gold value as a loan.

How can I check my SBI gold loan status?

You can check the loan status of SBI gold loan by visiting the website and log in to the SBI net banking. Once logged in, go to the track loan application in the loans section. If you have applied for a gold loan through MyLoanCare website, log in to your MyLoanCare account, and the status of your loan will be shown on the homepage of your account. However, if you are concerned about the loan approval status, then in the case of a gold loan, the process of acceptance to disbursal is done within 24 hours.

Is gold loan SBI available online? Is there a SBI gold loan online payment facility?

Yes, you can apply for a gold loan online in SBI to get a quick loan. SBI offers a gold loan online payment facility. For online payments, you can use the netbanking facility. Apart you can also prompt automated payments of EMI from your regular savings or current account.

Are there any prepayment charges on SBI gold loan?

Yes, you can prepay your jewel loan after paying prepayment charges. The applicable prepayment charges to foreclose loan from SBI are Nil. Before enclosing your gold loan in advance, ensure that foreclosure of SBI gold is beneficial in managing financial burden and does not hamper your debt to income ratio.

Does SBI offer Agricultural Gold Loan?

Yes, SBI offers gold loans for agriculture at 1- 2% lower interest rates than gold loan rates. You can apply for a loan by visiting a bank branch or online by logging in to the website or with us at MyLoanCare. Agriculture gold loans can be used by agriculturists to fulfil irrigational or cultivation expenses.

What is the procedure for a gold loan in SBI?

To apply for a gold loan in SBI visit the nearest bank branch or log in to the official website. Also, you can apply with MyLoanCare to get the best offers. Before applying ensure you meet the SBI gold loan eligibility criteria and keep your documents handy. Most importantly, be informed of the purity check of your gold.

Does SBI offer an additional discount on gold loan interest rates for women?

No, SBI offers the same gold loan interest rate to all the borrowers, they do not offer lower interest to women borrowers. However, the interest rate is lower for people who take loans for agricultural purposes.

Can SBI gold loan interest rate be negotiated?

Yes, gold loan rate of SBI can be negotiated. There are chances that banks will lower the interest rate if you already have an account with the bank or you have a stable source of income. Further, a larger loan amount can help you grab a gold loan at lower interest rates.

How long does it take to process SBI Gold Loan?

The gold loan can be disbursed quickly within a few hours. It takes around 90 to 120 minutes to process a loan. Further, it depends upon your eligibility and the quality of the pledged gold.

What are the benefits for SBI account holders while getting a Gold loan?

SBI account can avail a gold loan for a maximum of 75% of the value of the gold at the lowest rate starting at 7.00%. The bank also provides gold without any income proof and CIBIL requirements.

What happens if SBI Bank gold loan is not paid?

If you do not repay your SBI Bank gold loan, you will have to pay a late payment penalty of 0.00%. Further, you may lose all your pledged gold if you skip your loan payment entirely. Also, even when CIBIL score is not a criteria to avail gold loan, yet, prepaying loan on time, can boost your credit score and vice versa.

Will SBI gold loan affect CIBIL score?

Yes, if you default on repaying your SBI gold loan EMI, it will affect your CIBIL negatively and similarly, paying the dues on time will improve your CIBIL.

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
SBI Gold Loan News - Oct 2021
  • 2021-09-24 : SBI Reduces Gold Loan Rates
    State Bank of India has reduced the gold loan interest. As a result, the lowest rate on gold loans now starts at 7%.
  • 2021-08-17 : SBI introduces special offers on a car loan and gold loan
    SBI has introduced a full waiver on the processing fees of car loans and gold loans. This offer is launched as a part of ‘Azadi Mahotsav’. A borrower can avail of the facility of up to 90 percent on-road financing for car loans. Also, a special interest concession of 25 bps for customers applying for a car loan through the YONO app.
  • 2021-08-16 : Special Gold Loan Rates for SBI Customers
    SBI has announced a reduction in 75 basis points in the interest rates at 7.50%. In addition, the bank will not charge any processing fees for customers applying for gold loans via the YONO app.
  • 2021-05-21 : SBI net profit rises 81% YoY
    State Bank of India’s quarterly net profit rose 81% year-on-year to Rs 6,451 crore for the three months ended March. The bank’s total domestic advances rose 5.67% year-on-year to Rs 21.82 lakh crore. Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan stood at Rs 8.7 lakh crore. Further, total domestic deposits for SBI which include FD and RD rose 14.26% from a year ago to Rs 35.7 lakh crore. The current account and savings account deposits rose 16.73% year-on-year to Rs 16.47 lakh crore.
  • 2021-04-27 : SBI introduced video KYC on mobile banking app YONO
    With an aim to improve the customer experience and improve the loan and investment portfolio, SBI introduced KYC on its Mobile banking app YONO. The digital initiative, powered by AI and Facial Recognition Technology, is a contactless and paperless process.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Please wait while your information is being processed...