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  • SBI Gold Loan is Rated as "Excellent!" by 528 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    SBI Gold Loan

    Gold is an indispensable component in the Indian way of life, with residents owning over 20,000 tonnes of this metal. Apart from playing an intrinsic role in festivities and celebrations, gold is one investment which offers financial liquidity, with it easy to avail a loan by pledging gold. SBI offers its patrons a unique product, SBI Personal Gold Loan, through which they can avail a loan against their gold ornaments/coins. This loan can be used to meet any personal financial requirement, with easy repayment options available.

    Features of SBI Personal Gold Loan

    SBI Personal Gold Loan comes with a host of attractive features, some of which are mentioned below.

    • High loan amount – One can avail loans to the tune of Rs 20 lakhs under this scheme, subject to the gold quantity pledged.
    • Flexible repayment – The loan can be repaid through EMIs, with the maximum period ranging between 30 and 36 months. This provides adequate time for people to sort their finances, with no additional financial burden of repayment.
    • Security – Gold items provided as security are returned on repayment of loan, ensuring one does not lose out on them.
    • Fast approval – This loan is easy to avail, with quick approval and minimal documentation.
    • Low processing fee – SBI charges a low fee to process the loan, making it light on the pocket of a borrower.
    • Prepayment – Borrowers can choose to prepay their loan, with no prepayment charges levied by SBI.

    SBI Personal Gold Loan Interest Rates

    The interest charged by SBI on its gold loan relies on the base rate in place, with the final interest depending on a number of factors. Interest rates for SBI Personal Gold Loan Scheme range between 13.05% per annum and 17.65% per annum, with SBI having the sole discretion to change or modify rates. Borrowers are expected to check the current prevailing rates before applying for a loan.

    Note: Rates mentioned above are as of May 2016 and are liable to change.

    Eligibility Criteria to avail SBI Personal Gold Loan

    Individuals who wish to avail a loan under this Gold Loan scheme need to satisfy a few basic eligibility criteria.

    • Age – A borrower should be at least 21 years old in order to qualify for this scheme.
    • Income – An applicant should have a steady source of income. He/she could be employed in any profession, having sufficient means to repay the loan.
    • SBI customer – An applicant should be an existing customer of SBI, having maintained banking transactions with them in the past.
    • Security – This loan can be availed only by offering gold as collateral.
    • Gold owner – The gold pledged as security should belong to the borrower.

    Documents required for SBI Personal Gold Loan

    • ID Proof – A valid, government approved ID Proof (PAN card, DL, Voter’s ID, etc.)
    • Address proof – A valid, government approved address proof (Utility bill, Passport, DL, etc.)
    • Photographs – Two passport size photographs of applicant
    • Form – Duly filled and signed application form

    Fees and charges associated with SBI Personal Gold Loan

    Unlike other banks, SBI charges a nominal fee to process an application, with this amount depending on the quality of gold offered as collateral.

    Gold quality Processing fee*
    BIS Hallmarked gold ornaments 0.50 % of loan amount, subject to a minimum of Rs 250 and maximum of Rs 500
    Ornaments with no Hallmark
    • For loans upto Rs 25,000 – Rs 250
    • For loans greater than Rs 25,000 – 0.50% of amount, subject to a maximum of Rs 500

    *Note: Applicants will have to pay the applicable GST along with the processing fee.

    SBI Personal Gold Loan FAQs

    1. What is the margin on a SBI Personal Gold Loan?

      A 25% margin is applicable on this gold loan.

    2. What is the minimum amount I can borrow against my gold?

      The minimum loan amount offered under this loan scheme is Rs 20,000.

    3. How can I avail this loan amount?

      Loans can be availed either in the form of an overdraft or a demand loan.

    4. Are the repayment tenures different for Demand Loans and Overdrafts?

      Yes, a demand loan has a maximum repayment tenure of 30 months, while it is 36 months for an overdraft.

    5. When does the repayment process begin?

      The repayment process begins immediately, with a borrower expected to pay EMIs a month after the loan has been sanctioned. For example, if the loan was availed in January, loan repayment should begin by February.

    SBI Gold Loan Reviews

    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my loan experience was very good. The process was smooth and i received my loan amount on time. Customer service is good and they responded on time. The tenure period for this personal loan is 5 years.
      Was this review helpful? 2
      , secunderabad
      Reviewed on Sep 19, 2018
    • SBI Personal Loan
      "SBI PROVIDED EASY PERSONAL LOAN TO SALARIED IN SHORT PERIOD"
      0.5 4.5/5 "Excellent!"
      Taking personal loan form SBI is very good for taking in a short period and have good communication with Bank staff and cooperative.Interest rate is also valid and i have taken more than 04 times personal loans from state bank of India.thanks.
      Was this review helpful? 1
      , champawat
      Reviewed on Sep 18, 2018
    • SBI Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I have taken housing loan through SBI , the customer service sis good and i did not face any issue at the time of documentation time . There is no hidden charges with this bank and tenure period is 30year . Loan amount is up to the mark . Processing fee is 1000 rs .
      Was this review helpful? 7
      , jaipur
      Reviewed on Sep 07, 2018
    • SBI Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      Got my personal form State bank of India, as the rate of interest is nominal one . Making the payments through Ecs . Got approved as instant approval process. There is no processing fees for the personal loan with tenure period of 4 years . Their customer service and response is good regarding personal loan.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Good Banking Service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 48 months and i make the payment monthly though ECS.. There is no processing fees also, i have closed this loan
      Was this review helpful? 4
      , hyderabad
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Not a good expereince"
      0.5 2.0/5 "Expected more"
      I have taken a personal for 3 Lacs from the SBI, the experience wasn't good, there were too many formalities and it was also time consuming. They need to ensure a timely approval and processing when it comes to personal loan.
      Was this review helpful? 5
      , mumbai
      Reviewed on Aug 29, 2018
    • SBI Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with SBI and the experience with this bank is pretty good , i did not face any issue at the time of documentation even the process was very quick . Tenure period is 5year and rate of interest is 9% and it is satisfactory . Processing fee is free and i use to pay EMI 15000 per month .
      Was this review helpful? 3
      , hyderabad
      Reviewed on Aug 26, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Sbi bank . Am satisfied with the rate of interest which they have provided . There is no processing fees for the loan which is nominal one. I make the payments through Ecs every month . They gave the tenure period of 4 years . They did quick documentation and received the loan.
      Was this review helpful? 8
      , bangalore
      Reviewed on Aug 22, 2018
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 5 years back.The loan amount was 3 lakhs and he interest rate was quite satisfactory . The customer service and responses was good. The tenure period was 5 years . I had a smooth documentation here and but they have taken much time for the process.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 14, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 1-5 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Aug 13, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with SBI for personal loan was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Jul 31, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a very good experience with them and i had taken this loan almost 4 months back and the process in getting this loan had been simple and easy. The loan amount which they had provided had been satisfactory. The interest rate with them also had been nominal of 14.4% and the customer support and the staff response had been good as well.
      Was this review helpful? 7
      , chennai
      Reviewed on Jul 26, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 10-15 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jul 25, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from SBI and my loan experience was good, the loan amount was for Rs 2 lakhs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. There are no preclosure charges and the tenure period for this loan is 4 years.
      Was this review helpful? 6
      , new delhi
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan from the State bank of India which took around 1 week for approval and documentation . Am satisfied with the rate of interest 10.4% which they have provided . They charged Rs 8000 for processing fees with the tenure period of 5 years .Their customer service and service is not up to the mark as i have to do follow up regarding loan.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My personal loan was taken with SBI 2 years back.The loan amount was 2 lakhs and the interest rate as very high . The EMI period was 5 years .The process was very slow and they have delayed processing it .The documentation was smooth .hey did not sanction the loan within the committed time. Their processing fee was average in the market.
      Was this review helpful? 13
      , hyderabad
      Reviewed on Jul 14, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I had chosen to go with them since i was holding my salary account from the same bank. The process in getting the loan had been very easy and smooth. The loan amount which they had given had been okay and the interest rate with them had been nominal. There has not been any processing fee which they have charged. Their customer support and the staff responses had been helpful as well.
      Was this review helpful? 9
      , kochi
      Reviewed on Jul 13, 2018
    • SBI Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 7 years back. The loan amount was 1.57,000 and the interest rate was bit higher than others .The tenure period was 4 years . The customer service and responses was good. They have sanctioned the loan with the committed time. The processing fee was nominal.
      Was this review helpful? 6
      , lucknow
      Reviewed on Jul 07, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had took this loan almost 5-6 months back and the process in getting the loan has been easy and smooth. The loan amount had been easy and smooth and the interest rate with them had been very good. There has not been any issues faced with the banking services of them.
      Was this review helpful? 4
      , chennai
      Reviewed on Jun 28, 2018
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 1 day and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one of 8.5% They provided the tenure period of 2 year and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 26, 2018
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