SBI Gold Loan

Gold Loan @ 7%

Apply & Get Instant Money

SBI Gold Loan Key Features

SBI Gold Loan Amount Up to Rs. 1 Crore (With Income Proof)
SBI Gold Loan Interest Rate 7.0% per annum
SBI Gold Loan Loan Per Gram Rate Per Gram Today is ₹ 5,268
SBI Gold Loan Processing Fee 1.50% of the Principal Loan Amount
SBI Gold Loan Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
SBI Gold Loan Repayment Tenure 3 Months to 24 Months
SBI Gold Loan Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

Advantages of SBI Gold Loan

  • Rapid Procedure: You can take a Gold Loan from SBI only and rapidly without any complications. The loan gets accepted in an hour.
  • Fewer Documents: The documentation process is straight here; fewer documents are required for the gold loan in SBI.
  • Transparent System: The SBI offers full transparency to their client; and that is, there are no hidden charges.
  • Amount of Loan: The smallest amount of loan that SBI can provide to their client is Rs. 15,000. And, it can be less than Rs 10,000 in rural zones.
  • Protection of Jewelry: One important thing to note is that the bank takes the real concern for the security of your gold. Hereafter, they kept the gold in fire-restive protection.
  • Loan Tenure: The time-period of the Gold loan in SBI can be from 3 months to 2 years. After this, you can hand-pick your comforts accordingly.
  • Benefits for Farmers: SBI provides some special offers for farming purposes. SBI offers a nominal Gold Loan interest rate for farming purposes.
  • No Debt Problem: There can be conditions like in which if an applicant is not able to refund the amount of the loan, in that case, the applicant will not be under any debts as the bank will only take embrace of the applicant’s ornaments.
  • No Salary limits: There are no limits on the salary or income of the applicant; hereafter, anyone with any salary range can apply for a gold loan in SBI.

How Much Gold Loan can I Get through SBI Gold Loan?

SBI Gold Loan Per Gram – Updated September 2020

Updated - Gold Loan Per Gram Rate

Gold Weight

Gold Purity

Gold Purity

Gold Purity

Gold Purity

24 Carat

22 Carat

20 Carat

18 Carat

1 gram

4680 4290 3900 3510

10 gram

46800 42900 39000 35100

20 gram

93600 85800 78000 70200

30 gram

140400 128700 117000 105300

40 gram

187200 171600 156000 140400

50 gram

234000 214500 195000 175500

100 gram

468000 429000 390000 351000

200 gram

936000 858000 780000 702000

300 gram

1404000 1287000 1170000 1053000

400 gram

1872000 1716000 1560000 1404000

500 gram

2340000 2145000 1950000 1755000

 

SBI Bank Gold Loan Eligibility

Age

18-70 years of age

Nationality

Indian

Employment Status

Salaried, Self-Employed

Gold Quality

Minimum 18 Carats

 

SBI Gold Loan Documents Required

Photographs

2 Passport Size

Identity Proof

Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)

Residence Proof

Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)

 

SBI Gold Loan Interest Rate, Fees and Charges

Gold Loan Interest Rate

7.00% per annum

Processing Fee

1.50% of the Principal Loan Amount

Prepayment/Foreclosure Charges

2%+GST (Within 3 Months), 0 (After 3 months)

Valuation Fee

Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs

Late Repayment Charges

2% p.a. + Applicable rate of interest.

Renewal Processing Fees

Rs 350 + GST

 

About SBI Gold Loan

Life is full of qualms and snags. Therefore, you may need money to handle the financial difficulties in your life. In that case, you can get a Gold Loan from SBI to fight with the financial emergency. A gold loan is a benign loan. Subsequently, the people with low CIBIL score can also quickly apply for this service. SBI Gold Loan is one of the unsurpassed gold loans in India.

However, there is a lot of financial banking and non-banking firms that may provide you with the gold loan, but SBI Gold Loan is considered the greatest. SBI was established up in 1955. It is one of the reputed and consistent banks in India. Also, it is known for its brilliant financial facilities. Here the transactions are very benign.

  • SBI Gold Loan Interest Rate is 7.0% per annum
  • SBI Gold Loan Per Gram is ₹ 5,268
  • SBI Gold Loan Tenure: Up to 24 months
  • SBI Gold Loan Processing Fee is Up to 1.50% of the principal Loan Amount + GST

Types of SBI Gold Loan

SBI offers some plans associated with the Gold Loan item which are listed below:

  • Loan Against Gold – SBI gives Gold Loan at fascinating steps vital to satisfy anybody’s critical need of assets for any reason whether individual or professional. The gold credit is an entirely made sure about type of loans & then, the bank has no risk in giving the sum to the applicant so, it is given at a slower step of best when connected with different types of Loan items.
  • Loan Against gold for the Farming industry – SBI gives Gold Loans clearly to farming industry purposes to agriculturalists at a rare step of interest when compared with gold loans given for different employments. They are given several proposals & while taking the loan, you have to give the bank your Property evidence.

SBI Gold Loan EMI Calculator

Rate of Interest
6 months
1 Yr
2 Yrs
3 Yrs
7.00% 17008 8652 4477 3088
8.00% 17058 8699 4523 3134
8.50% 17082 8722 4546 3157
9.00% 17107 8745 4568 3180
9.50% 17131 8678 4591 3203
10.00% 17156 8791 4614 3227
10.50% 17181 8815 4637 3250
11.00% 17205 8838 4661 3274
11.50% 17230 8861 4684 3298
12.00% 17254 8885 4707 3321
12.50% 17279 8908 4731 3345
13.00% 17304 8932 4754 3369
13.50% 17329 8955 4778 3393
14.00% 17354 8979 4801 3418
14.50% 17378 9002 4825 3442
15.00% 17403 9026 4845 3466

How to Pay Your SBI Gold Loan EMI?

  • Standing Instruction (SI): If you are currently an account holder with SBI, Standing Instruction is the extreme unswerving procedure to pay. Your EMI amount will be credit naturally towards the month’s end to month time frame from the SBI account you show.
  • Electronic Clearing Service (ECS): The program can be applied in the incident that you have a non-SBI Bank account and may need your EMIs to be a charge, close to the extreme limit of the month to month cycle from this record.
  • Post-Dated Checks (PDC): You can show post-dated EMI inquiries from a non-SBI Bank account at your nearest SBI Bank Loan Centre. An alternative method of PDCs should be present in the right way. It will be great in the occurrence that you note Post Dated Checks will be collected non-ECS states figuratively speaking.

SBI Gold Loan Contact Number

Call 9878981144 & get prompt help and approval for your SBI Gold Loan. You can now know the best offers on Gold Loan accessible from all the SBI Branches in all over the country to avail the best deal relevant according to your requirements.

Gold Ornaments Accepted by SBI

  • Gold Ornaments: SBI approves gold Jewelry like Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. all of these for a Gold Loan.
  • Quality: The quality of gold must be in between of 18 Carat to 22 Carat. Any gold ornament which is 24 Carat, can’t be used for a gold loan.

Use of SBI Gold Loan

The funds settle by availing the SBI Gold Loan facility can be used for plentiful purposes like:

  • To fund any specific investments such as wedding ceremony, hiking, instalment of higher education expenses, etc.
  • For all your marketing requirements, such as buying new supplies, developing marketing, etc., the loan facility is accessible.
  • You can also apply for Gold Loan for agricultural concepts. The bank gives minor charges of interest for Gold Loans that are using for cultivation or accompanying projects.

Gold Loan Interest Rate of Major Banks

Bank

 Interest Rates

HDFC Bank Gold Loan

7.00% – 14.50%

ICICI Gold Loan

7.00% – 16.10%
Muthoot Finance Gold Loan

7.00% – 24.00%

Axis Bank Gold Loan

7.00% – 17.00%
Manappuram Gold Loan

7.00% – 26.00%

Yes Bank Gold Loan

7.00% – 15.99%
Bank of India Gold Loan

7.00% – 26.00%

Federal Bank Gold Loan 

7.00% – 13.50%
IIFL Gold Loan

7.00% – 12.00%

Central Bank of India Gold Loan

7.00% – 14.65%

Canara Bank Gold Loan

7.00% – 12.65%

Allahabad Bank Gold Loan

7.00% – 10.45%

Induslnd Bank Gold Loan

7.00% – 15.75%
PNB Gold Loan

7.00% – 11.75%

Bajaj Finance Gold Loan

7.00% – 26%
SBI Gold Loan

7.00% – 15.99%

Indian Bank Gold Loan

7.00% – 15.99%
UCO Bank Gold Loan

7.00% – 26.00%

Kotak Mahindra Bank Gold Loan

7.00% – 13.50%
Syndicate Bank Gold Loan

7.00% – 12.00%

FAQs About SBI Gold Loan

  • What is the SBI Gold Loan?

SBI Gold Loan is a loan system that you can apply for urgent economic help by keeping your gold as security with the bank. It also comes with the best interest rates on Term Loan, Overdraft, and EMI based loan. Usual Gold Loan expenditure time at SBI is just 45 minutes.

  • How can I get the Gold Loan from SBI Bank?

You can effortlessly get the SBI Gold Loan by visiting any of the gold loan offering branches of SBI else you can apply online with BookmyLoans by just sitting at your home and get the best deals and offers. SBI is one of the central banks in India that offers Gold Loan features.

  • What is Gold Loan Interest Rate in SBI?

The Gold Loan interest rate in SBI is 7.0% per annum. The rate of interest is subject to several factors, namely: loan amount, loan time-periods, purity of gold, and affiliation with SBI.

  • How much Gold Loan can I get per gram in SBI?

The per gram Gold Loan in SBI that you can get depends on the purity of your gold. SBI agrees to take the gold of purity between 18 carats to 22 carats to offer a Gold Loan. You can avail up to ₹ 5,268 Per Gram in SBI Gold Loan.

  • How to check Gold Loan status in SBI?

To check your SBI Gold Loan status all, you need to do is, visit the SBI Loan Status Tracker web page and fill your details in the form given there and you can track the status smoothly of your loan from home and stay updated.

  • How to calculate Gold Loan Interest in SBI?

You can analyze the interest on your SBI Gold Loan using BookmyLoans EMI Calculator that gives you specific amounts based on the information you enter into the calculator.

  • How to Pay SBI Bank Gold Loan Interest Online?

You can pay SBI Gold Loan interest online thru net banking on the official Reliance Bank loan compensation web page else. You can also refund your SBI Gold Loan on Paytm using your preferred payment process.

  • What if I can’t pay the interest on SBI Gold Loan for 3 months?

If you do not pay your SBI Gold Loan for Three months, the Bank will remind you of your inadequate payments. And after that, If the payment requests will ignore an official legal noticed will be sent demanding the reimbursement and to finish the loan. Non-payment on your Gold Loan will lead to a lessening of your credit score and also makes you legally responsible face legal actions by the Bank includes the seizure and sale of your gold.

  • How can I apply for EMI Moratorium on SBI Gold Loan?

You can quickly apply for an EMI Moratorium on SBI Gold Loan now between 1st March to 31st August 2020 and has to be done by contacting the Bank’s client care or by visiting the nearest SBI branch.