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SBI Gold Loan

Last Updated 22nd Aug 2017

SBI Gold Loans

Rate of Interest 11.05% - 11.05%
Loan Amount Between Rs. 10,000 to Rs. 2,000,000
Lowest EMI per lakh Rs. 3,830 per lakh
Maximum Loan Tenure From 3 months to 30 months
Age Between 21 years to 65 years
Processing Fee 0.51-1.01% of the loan amount subject to a maximum of Rs 1,022
Apply Gold Loan @ 10.50%*
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SBI Gold Loan Details

SBI Gold Loan Document List

Documents Salaried Self Employed
Identity Proof Passport/ Driving License/ Voter ID/ PAN Passport/ Driving License/ Voter ID/ PAN
Address Proof Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport

SBI Gold Loan Apply

SBI gives the facility of gold loan to the people who want money to meet their urgent requirements. There are some features and benefits of taking gold loan from SBI:

  • 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

Popular Products:

  • SBI Personal Gold Loan
  • SBI Personal Gold Loan- Bullet Repayment
  • Multi Purpose Agri Gold Loan
SBI Gold Loan Calculator

Interest Rate Calculator – This helps you in identifying the interest rate charged on applied SBI loan amount for effective tenure.

Interest rate on SBI gold loan depends upon

  • Loan Amount – Higher the loan amount, lesser will be the interest rate

Eligibility Calculator – Eligibility calculator calculates your gold loan eligibility depending upon the weight and purity of gold. Apply for only that much loan amount, what you are eligible for. You can calculate your gold loan eligibility online and based on that apply for loan. Eligibility depends on:

  • Quantity and quality of gold pledged – Gold ornaments purity should range from 18 to 24 karats. To get gold loan from SBI, both hallmarked and non hallmarked jewelry are acceptable.
  • Purpose of loan – SBI gives gold loan for business, personal and agricultural purposes. Gold loan of SBI should not be used for investment in stocks or purchase of gold coins, jewelry or land.
  • Rate of gold per gram – SBI calculates the value of your gold based on 22 carat gold price. SBI takes 30 days average of 22 carat gold price.
  • Form of gold assured – SBI gives gold loan against ornaments with 18 carat purity and special minted coins weights up to 50 grams.

There are various methods of calculating eligibility

  • Valuation of Gold – SBI calculates value of your gold on the basis of gold karatage, price and weight of gold. SBI gives only 75% of gold ornament value as gold loan.

EMI Calculator – Gold Loan EMI calculator helps you in calculating your monthly EMI based on the loan amount, interest rate and tenure you have applied for.

  • Loan amount – You should apply for only eligible loan amount from SBI ranges from Rs. 10,000 to Rs. 2,000,000. Gold loan EMI will be high based on your loan amount.
  • Loan Tenure – High tenure of gold loan leads to low amount of EMI.
  • Interest Rate – SBI gold loan EMI will be low if your rate of interest is less.

Preclosure

Gold Loan Preclosure of SBI

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 at Nil.

FAQs on Gold Loan from SBI

How much fee is charged by SBI for gold loan?

Processing fee charged on SBI gold loan is 0.51-1.01% of the loan amount subject to a maximum of Rs 1,022 with applicable service tax.

What if I missed my gold loan EMI in SBI?

SBI charges a penal interest of 0.00% per month if you miss an EMI.

Can I check my loan account statement online?

You can login into your SBI online net banking account to get your loan details, track your loan history and make the payment online.

Easy comparison of SBI home loan with other banks

Sbi Gold Loan
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Gold Loan Eligibility
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.