SBI Gold Loan – Interest Rates, Schemes, Eligibility and Calculator

SBI Gold Loan – Interest Rates, Schemes, Eligibility and Calculator

There are more than residents who are owning 20,000 tonnes of gold in India, and the rate may vary as time goes. The gold is a crucial part of Indian culture apart from being an investment for the long term. SBI offers the Gold loan to make a dream come true of lots of other people who want to buy this metal.  Also, it can be used for any different personal financial requirement too. Check Interest Rates, Schemes, Eligibility, Calculator and How to Apply for SBI Gold Loan below.

SBI Gold Loan Eligibility and Interest Rates:


The SBI has some eligibility regarding who can apply for the loan, make sure you check the eligibility criteria. Well here are the few points that you need to know:

  • Age: Your age must be more than 21 years old. As the scheme is only quality whose age is up to that bar
  • SBI customer: You need to be the customer of the SBI bank in order to get the loan. Also, your account must be maintained as well as the transaction by the bank previously
  • Security: The bank avails the loan to you in return of gold as the collateral.
  • Gold owner: The borrow pledged the gold as security which belongs to them
  • Income: Before you apply, you must be aware that the loan is avail to those who have a steady income and its source. It doesn’t matter which sector you are employed; the bank requires that you have enough money so you can repay the loan without any hassle.

The interest rate which is charged by the bank is dependable on the rate in place along with the different other factors. However, the range of the SBI personal gold loan scheme is between 13.05% – 17.65% per annum. It comes with the sole discretion to change of SBI modify rates. Before you apply, you must check the revelling rates which are going on currently.

Read More: SBI Bank Balance Enquiry on your Phone

What Documents are you Going to Need?

There are certain documents you are going to need to submit when you apply for the loan. You can directly go to the website or choose other options which are available online. For more, you can contact the bank as well. Before that, here is what you need to take with you:

  • Your Id proof, it can be PAN card, DL, Voter id card, etc
  • Your address proof, it can be a utility bill, passport, DL, etc
  • The form that you get from the bank make sure you fill every detail and information
  • Photographs of passport size, keep two with you                                                                                             

How to Calculate?

The calculator is recommendable to use for calculating the gold loan EMI.  For that, you are going to need the tentative check amount you need to pay for the gold loan instalment. The calculator will do the calculation regarding the corresponding EMI against your loan’s value and repayments terms you choose. You can get the idea about the instalments you need to pay and when as well. With that, you can arrange it according to your preference.


Many people in India want to buy gold. We know how the rates fluctuate every second of gold, and that is the only reason for becoming the best investment. Sometimes, the rates can be high and sometimes it will be low. It is always better to purchase gold when the prices are down, and we also know that most of the people do not have sufficient cash to buy these items. Therefore, SBI comes with a gold loan scheme for the customers so they can buy their favourite gold in terms of jewellery or anything and pay in EMI’s. All the details of SBI gold loan are mentioned in this article.

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