SBI Gold Loan

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SBI Gold Loan Interest Rate Oct 2016

Last Updated 21st Oct 16

SBI Gold Loan Interest Rate 11.05%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 3 months to 30 months
Minimum and Maximum Loan Amount Rs. 10,000 and Rs. 2,000,000
Processing Fee 0.51-1.01% of the loan amount subject to a maximum of Rs 1022
Prepayment Charges Nil
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SBI Gold Loan Interest Rate Calculator

SBI offers gold loan to the customers who have urgent need of money. Gold loan to be offered by SBI has many features like:
  • Extremely low interest rates with no hidden charges
  • Offers long tenure loans of up to 30 months
  • No income proof required and provides convenient repayment schedule

Gold Loan SBI

SBI Gold loan interest rate is the rate which you pay over the loan amount that you have borrowed from SBI. Gold loan interest rates offered by SBI are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in SBI benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in SBI benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
SBI Gold Loan Rates depends upon
  • SBI gold loan amount: Gold loan rate in SBI depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

SBI Gold Loan Charges

SBI Gold Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. SBI allows prepayment of gold loan with Nil prepayment charges
SBI Gold Loan processing fee- SBI asks for a processing fee of 0.51-1.01% of the loan amount subject to a maximum of Rs 1022 with applicable service tax
Penal Interest- SBI charges a penal interest of 0.00% per month if you don’t pay the EMI on the due date decided by the bank

SBI Gold Loan EMI Calculator

Gold Loan EMI of SBI is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by SBI is Rs. 3,830 per lakh loan amount. Gold loan EMI of SBI depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 30 months gold loan from SBI at interest rate of 11.05% per annum, EMI will be Rs. 3,830 per Rs. one lakh loan amount. At interest rate of 11.05% for the same loan, the EMI will be Rs. 3,830
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 11.05% per annum, the EMI would range from Rs. 33,949 to Rs. 3,830 for loan tenure ranging from 3 months to 30 months

SBI Gold Loan Eligibility Calculator

Gold loan eligibility criteria SBI

Eligibility of Gold loan in SBI depends upon multiple factors:-
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: SBI will value the jewelry based on price of 22 carat gold adjusted for purity. SBI use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from SBI against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from SBI for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular SBI Gold Loan Products

SBI offers you following gold loan schemes
  • SBI Personal Gold Loan
  • SBI Personal Gold Loan- Bullet Repayment
  • Multi Purpose Agri Gold Loan

Gold Loan SBI documents required

The documentation process of SBI is smooth. Here is a list of documents which are required to apply for home loan from SBI:
  • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

Frequently Asked Questions – SBI Gold Loan

What is the maximum loan tenure I can opt under SBI gold loan?

SBI offers you tenure of upto 30 months to repay your gold loan.

Can I prepay my gold loan? What are the charges applicable?

Yes, you can prepay your gold loan. Applicable prepayment charges - Nil.

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 2,000,000 from SBI

Compare SBI Gold Loan

Comparison of SBI Gold Loan with other banks

SBI Gold Loan in India

SBI Gold Loan Customer Care Number, Email, Application Status

Contact Details of SBI Gold Loan Branches
City Customer Care Number
Agra 979-350-2211
Ahmedabad 972-434-2211
Ambala 999-637-2211
Anand 972-434-2211
Aurangabad 973-001-2211
Bangalore 973-193-2211
Bhilai 989-328-2211
Bhilwara 979-933-2211
Bhiwadi 973-001-2211
Bhopal 989-328-2211
Bhubaneswar Cuttack 977-745-2211
Bikaner 979-933-2211
Chandigarh 977-916-2211
Chennai 979-094-2211
Cochin 999-539-2211
Coimbatore 979-191-2211
Dehradun 976-020-2211
Delhi 995-880-2211
Durg 989-328-2211
Faridabad 995-880-2211
Gandhinagar 972-434-2211
Ghaziabad 995-880-2211
Goa 973-001-2211
Greater Noida 995-880-2211
Gurgaon 995-880-2211
Guwahati 995-705-2211
Gwalior 989-328-2211
Hyderabad 995-919-2211
Indore 989-328-2211
Jabalpur 989-328-2211
Jaipur 979-933-2211
Jalandhar 977-916-2211
Jodhpur 979-933-2211
Kanpur 979-350-2211
Karnal 999-637-2211
Kolhapur 973-001-2211
Kolkata 974-842-2211
Kota 979-933-2211
Kozhikode 999-539-2211
Lucknow 979-350-2211
Ludhiana 977-916-2211
Madurai 979-191-2211
Meerut 976-020-2211
Mehsana 972-434-2211
Mohali Sas Nagar 977-916-2211
Mumbai 998-755-2211
Mussoorie 976-020-2211
Nagpur 973-001-2211
Nashik 973-001-2211
Noida 995-880-2211
Noida Extn. 995-880-2211
Panipat 999-637-2211
Patna 995-595-2211
Pondicherry 979-191-2211
Pune 973-001-2211
Raipur 989-328-2211
Rajkot 972-434-2211
Ranchi 995-595-2211
Rohtak 999-637-2211
Roorkee 976-020-2211
Salem 979-191-2211
Shimla 980-509-2211
Sonepat 999-637-2211
Surat 972-434-2211
Trichy 979-191-2211
Udaipur 979-933-2211
Vadodara 972-434-2211
Varanasi 979-350-2211
Vijaywada 995-919-2211
Vizag 995-919-2211
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
SBI Gold Loan News - Oct 2016
22nd Oct 16 SBI asks customers to use its own ATMs after the cyber attack hits 3.2 million debit cards
SBI advised its customers to use its own ATM networks for safety of transactions. The Bank also promised to replace 6 lakh debit cards which were blocked by the bank as a preventive measure within ten days following a cyber security breach in the country banking system. The other major banks hit by the cyber fraud are Axis Bank, HDFC and ICICI Bank.
10th Sep 16 SBI launches fully automated branch
State Bank of India has launched In Touch branch at Gandhi Nagar in Vellore, which offers fully automated banking services. There are other 15 branches across the state. The automated branch will provide following facilities to customers: opening bank accounts, money deposit and withdrawal, cheques deposit and passbook updation.
07th Sep 16 Arundhati Bhattacharya hopes to kick off SBIs mega merger by Oct-end
SBI hopes to set up the merger of its associates as well as Bharatiya Mahila Bank by October end and try to complete the process by March, 2017. In the beginning of August, the central board of SBI had approved the acquisition of Bharatiya Mahila Bank and its five associate banks and settled the swap ratios for the merger. Under these swap ratio, SBT and SBM shareholders will get 22 shares of 10 SBI shares while SBBJ shareholders will get 28 shares of SBI (Re 1 each) for every 10 shares (Rs 10 each) or a ratio of 1:28.
25th Aug 16 SBIs merger with subsidiaries will increase banks coverage area
State Bank of India merger with State Banks of Bikaner and Jaipur (SBBJ), State Bank of Travancore (SBT), Sate Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and Sate Bank of Mysore (SBM) and Bhartiya Mahila Bank was approved by Government in June. Post Merger SBI will have total asset base of Rs 28.7 lakh crore as compared with current standalone asset base of Rs 22.6 lakh crore. The merger will increase the difference between SBI and ICICI Bank assets, where ICICI Bank will have an asset base of just one-fourth compared to SBI. The merger will also increase SBIs coverage with network of over 24,000 branches and 58,000 ATMs serving over 50 crore customers. The increased geographical network will increase its deposit raising capacity and hence will reduce the cost of funds, which in turn can result in lower borrowing cost for customers.
12th Aug 16 SBI Q1 net profit down 31.72 per cent at Rs 2520.96 cr; Net NPAs at 4.05 per cent vs 3.81 per cent QoQ
As per the results for Q1FY17, State Bank of India reported 31.72 percent decline in its Net Profit to Rs 2,520.96. Net Interest Income showed a marginal increase of 0.04 per cent in june quarter to Rs 14312.31 crore. Gross NPAs were 6.94 percent at the end of the June quarter as compared with 6.5 percent in the previous quarter, a growth of 44 bps. Net NPAs were at 4.05 percent in the June quarter against 3.81 percent in the previous quarter.