If you’re in urgent need of funds and own gold jewelry, an SBI Gold Loan can be a secure and hassle-free solution. With loan amounts ranging from ₹20,000 to ₹50 lakh, State Bank of India offers competitive interest rates starting at just 9.00%. Whether you need short-term financing or a longer repayment period (from 3 months to 3 years), SBI provides flexible options, including EMI-based repayment or one-time bullet payment.
The application process is simple, with minimal documentation and quick approval. Plus, your gold remains safe and secure with India’s most trusted bank.
Let’s explore the latest SBI gold loan interest rates, eligibility, and application process to help you make an informed decision.
Current SBI Gold Loan Interest Rates (2025-26)
SBI offers attractive interest rates on gold loans, making it an excellent choice for immediate financial needs. Below are the latest rates for different schemes:
| Loan Scheme | Base Rate (MCLR) | Additional Margin | Effective Interest Rate |
|---|---|---|---|
| EMI-Based Gold Loan | 9.00% (1-Year MCLR) | +1.25% | 10.25% |
| 12-Month Bullet Payment | 9.00% (1-Year MCLR) | +0.30% | 9.30% |
| 3-Month Bullet Payment | 8.55% (3-Month MCLR) | +0.45% | 9.00% |
| 6-Month Bullet Payment | 8.90% (6-Month MCLR) | +0.30% | 9.20% |
- Lowest interest rate: 9.00% (for 3-month bullet repayment)
- Average interest rate: Around 9.57%
Key Features of SBI Gold Loan
- Loan Amount: ₹20,000 – ₹50 lakh
- Tenure: 3 months to 12 months (extendable up to 3 years)
- Repayment Options: EMI or lump-sum bullet payment
- Minimal Documents: Aadhaar, PAN, and two passport-sized photos
- Quick Disbursal: Funds credited within hours
- No Income Proof Required
Best for Short-Term Needs?
If you need funds for a few months, the 3 or 6-month bullet repayment option is ideal. For longer tenures, opt for the EMI-based plan for easier repayments.
Eligibility Criteria for SBI Gold Loan
To qualify, you must:
- Be at least 18 years old
- Be an Indian resident
- Own gold jewelry or coins (up to 50 grams)
- Submit KYC documents (Aadhaar & PAN)
No income proof is needed, making it accessible to salaried, self-employed, and even homemakers.
Documents Required for SBI Gold Loan
- Identity Proof: Aadhaar Card / Voter ID
- Address Proof: Ration Card / Electricity Bill
- Two Passport-Sized Photographs
- PAN Card (mandatory for loans above ₹50,000)
- Witness Letter (if the applicant is illiterate)
Carry these documents when visiting the branch to speed up the process.
How to Apply for an SBI Gold Loan? (Step-by-Step Guide)
- Visit the Nearest SBI Branch or apply via YONO App.
- Fill Out the Gold Loan Application Form.
- Submit Required Documents.
- Gold Valuation: Bank experts verify purity & weight.
- Loan Sanction: Amount is finalized based on gold value.
- Money Disbursal: Funds are transferred to your account quickly.