Saturday, October 1, 2022

SBI also offers Gold Loan, these are the terms and conditions for it


  • Banks lend up to 75% of the value of gold
  • A minimum loan of Rs 20,000 and a maximum of Rs 20 lakh can be obtained
  • Gold loans also have lower interest rates than personal loans

Most of the time people take gold or personal loan when they suddenly need money for a short time. However, compared to personal loans, gold loans are very easy to get as well as low interest, and there are also flexible options for repayment.

SBI, the country’s largest state-owned bank, also offers gold loans at attractive rates. Under which up to Rs 20 lakh can be obtained. Anyone over the age of 18 can take this loan. Another good thing is that you do not need to provide any proof of income to get this loan. Banks typically lend up to 75% of the value of gold. The loan amount also depends on how many carats the gold is.

Learn more about SBI Gold Loan.

Who can get a loan?

Anyone over the age of 18 can take a gold loan. A person is eligible to take a gold loan only in his own name or jointly. This includes people with regular sources of income, including bank employees and pensioners. Proof of income is not required for SBI Gold Loan.

What is the minimum loan available?

In SBI Gold Loan, any person can get a loan of minimum Rs 20,000 and maximum Rs 20 lakh by pledging gold in a bank.

What is the margin of the bank?

Gold loan – 25 percent
Liquid Gold Loan- 25 per cent
Bullet Repayment Gold Loan – 35 percent


For a gold loan, you have to pledge gold according to the amount you want to borrow in the bank as security. The loan amount is also determined based on how many carats of gold you have mortgaged. Even if low-carat gold weighs more, and more carat gold weighs less against it, the loan amount fluctuates.

Processing fee

0.25 per cent of the loan amount + a minimum of Rs 250 GST is charged as processing fee for it. However, if you are an SBI account holder, you can also apply for this loan through YONO app, and you will not have to pay any processing fee for it.

What will be the interest rate?

– 0.50 per cent more than one year MCLR for any loan amount

– The borrower will also have to pay a gold appraiser charge

Repayment option

Gold Loan – Repayment of principal amount and interest will start from the second month of disbursement.

Liquid Gold Loan – Overdraft account with transaction facility and monthly interest will also have to be provided.
Bullet Repayment Gold Loan – Before the loan closes or starts.

Repayment period

Gold loan- 36 months
Liquid loan- 36 months
Bullet Repayment Gold Loan- 12 months


– Two passport size photos with application
– ID proof with address
– Witness letter if the customer is uneducated


Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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