What is the SBI Gold loan Interest Rate and Eligibility?


  • Want to know how much interest rate does SBI charge on a gold loan?
  • Read this to know the rate as well as several other details like eligibility, documents, etc.

There comes a time in every individual’s life when he/ she is in the need of urgent funds. These situations can vary from individual to another. For such situations, you can take the SBI Gold Loan by which you can easily get the required funds against your gold ornaments or even the gold coins issued by the state-owned lender.

With the help of this loan option, you can easily use your gold lying and get funds ranging from INR 20,000 to INR 20 lakh. The best thing about this loan facility is that you can get it at an interest rate lower than a personal loan facility. The SBI gold loan can be availed at an affordable interest rate of 9.15% per annum.

We will be telling you about all the schemes of SBI Gold Loan, Interest Rates on them and also about the eligibility criteria in depth. So, keep reading to know more!

Interest Rate on the different schemes of SBI Gold Loan

Before coming to the interest rate, it’s important to talk about the various Gold Loan schemes offered by SBI. There are mainly three types of gold loan schemes SBI offers – SBI Gold Loan, Liquid Gold Loan, and Bullet Repayment Gold Loan. The interest rate remains the same on all three schemes which is 9.15% per annum which is pretty affordable seeing the current market standards. But all three schemes are a bit different from each other in its functioning. Let’s know more about them.

SBI Gold Loan Eligibility and the Documents

Now you know everything about all SBI Gold Loan schemes, it’s important to know the eligibility criteria for the scheme. This eligibility criteria is nothing but a set of conditions that an individual has to fulfill in order to apply for the loan. Without adhering to these conditions, your application could be rejected by the bank. So, you must have a look at the below mentioned points.

  • The applicant’s age must be 18 years or above in order to get the SBI Gold Loan.
  • The loan can be taken by any individual as a single applicant or with any other co-applicant.
  • It is important that you must have a stable and regular source of income. However, you don’t need to show any kind of proof of income.
  • You must have the receipt of the gold against which you want the loan amount.

Besides meeting the eligibility criteria, you also need to remember the documents that you will require at the time of submitting your loan application. Without any ado, check out the documents below.

  • Duly Signed Gold Loan Application Form
  • 2 passport-sized photograph
  • Identity Proof – Aadhar Card/ PAN Card/ Driving Licence
  • Address Proof – Electricity Bill/ Passport/ Voter ID Card

If the borrower is an illiterate one, then she or he has to submit the Witness Letter

There are some documents that you will have to submit at the time of loan disbursal also. Take a look at them too.

  • DP Note
  • Delivery Letter of the DP Note
  • Gold Ornaments Note Delivery Letter
  • Arrangement Letter
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Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%