SBI Gold Loan

SBI Gold Loan Interest Rate Dec 2016

Last Updated 06th Dec 2016
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

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
  • 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

Gold Loan Charges

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
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 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

What is the maximum loan tenure I can opt under SBI jewel 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

SBI Gold Loan in India

SBI Gold Loan Customer Care Number, Email, Application Status, 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
SBI Gold Loan News - Dec 2016
30th Nov 16 Bhartiya Mahila Bank merger with SBI approved by CCI
Competition Commission of India has approved an amalgamation of Bhartiya Mahila Bank in to State Bank of India. Both the banks will work towards providing banking products to their retail and corporate customers.
30th Nov 16 SBI opens 11.8 lacs new bank accounts post demonetisation
State Bank of India has opened 11.8 lacs new saving accounts post demonetisation. The total estimated number of new bank accounts opened since 8th November is 30 lacs.
26th Nov 16 SBI launches SBI Pay, UPI application of its own
State Bank of India has launched its own UPI (Unified Payment Interface) based application SBI Pay. The application can be used by both SBI and non SBI account holders. HDFC, ICICI and Axis Banks and 15 other banks have already launched their UPI based application. The total number of banks having their own UPI based application inclusive of SBI is now 18.
26th Nov 16 SBI ties up with INOX Leisure for dispensing cash
State Bank of India has announced partnership with INOX Leisure, a multiplex chain, to dispense cash. Customers can now easily withdraw Rs. 2,000 per day from INOX Leisure cinema box office by swiping their debit cards. The facility will be available across 17 properties of INOX Leisure starting from 26th November, 2016.
24th Nov 16 SBI fixed deposit rates cut by 1.9 percent
State Bank of India has further reduced its bulk fixed deposits rates (Rs.1 to Rs.10 crores) by 1.9 percent to 3.85 percent for tenure of 180 to 210 days. The revised fixed deposits rate for one year to 455 days is now 4.25 percent instead of 6 percent earlier. FD rate for three to five years is also reduced to 4.25 percent from 5.50 percent. The revised rates are effective from 24th November, 2016.
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