Interest Rate & Loan Details
- Interest Rate: Varies based on loan type and tenure:
- Personal Gold Loan: Starting from 8.25% per annum
- Realty Gold Loan: 9.50% per annum
- Loan Tenure: Up to 36 months
- Processing Fee:
- Personal Gold Loan: ₹200 to ₹500 + GST, depending on repayment period
- Realty Gold Loan: 0.50% of loan amount (Min ₹500 + GST)
Eligibility Criteria for SBI Gold Loan
To qualify for an SBI Gold Loan, you must meet the following criteria:
- Age: Minimum 18 years
- Gold Ownership: Ownership of gold ornaments or specially minted gold coins sold by banks (maximum 50 grams per person)
- Income: Steady source of income
Documents Required
Key documents required to apply for an SBI Gold Loan:
- Identity Proof: Aadhaar Card, Voter ID, Passport, or Driving License
- Address Proof: Utility Bill, Bank Statement, or Passport
- Photographs: Two passport-sized photographs
Loan Amount & Security
Loan Amount: Minimum ₹20,000; Maximum ₹50 Lakh
Security: Pledge of gold ornaments or specially minted gold coins sold by banks (maximum 50 grams per person)
Repayment Options
SBI offers the following repayment options:
- Bullet Repayment: Repay the principal and interest at the end of the loan tenure
- EMI Based Repayment: Monthly installments comprising principal and interest
Charges & Fees
- Processing Fee: As mentioned above, varies based on loan type and tenure
- Appraiser Fee: Charges for gold appraisal, payable by the applicant
Key Considerations Before Applying
Before applying for an SBI Gold Loan, keep the following points in mind:
- Gold Quality: Gold pledged must meet the bank's purity standards
- Loan Agreement: Carefully read the loan terms and conditions before signing
- Gold Security: Understand that pledged gold may be forfeited in case of non-repayment
Contact State Bank of India
If you have any questions or wish to apply for a gold loan, contact SBI:
- Customer Care: 1800 1234 / 1800 2100
- Official Website: SBI Gold Loan
Disclaimer: The information provided above is based on publicly available data and is subject to change at the bank’s discretion. For the most current details, please visit the official SBI website or contact the nearest SBI branch.
