State Bank of India (SBI) was founded in 1955 with its headquarters in Mumbai, Maharashtra. It has 15,500 branches all over the World. It provides many banking products and financial services according to the needs of the customer. There are various loan schemes from which borrower can raise funds, but for instant finance, Gold Loan is the best option. There are so many banking and non-banking financial organizations that provide a gold loan but SBI gold loan is the best. You can use this amount of gold to fulfill any of your personal needs. It can be used for educational purposes or to boost up your business. Besides that, it can be used to pay your medical bills or for wedding purposes too. Thus, the Bank doesn’t put any restriction on the use of the amount of the loan.

What is SBI Gold Loan?

Gold Loan is the best Loan to overcome your immediate as well as short-term financial needs. The documentation process for this loan is quite simple. There are no credit checks needed for this financing. A person suffering from bad credit score even avail for a gold loan. The interest rate offered in Loan against gold is less compared to other Loan. To compare the Gold Loan interest rates Click Here.

Gold Loan is an easy and simple way to get instant finance. It is a 30 minutes disbursal product. Check Gold Loan Interest Rates offered by all the leading banks across the country. Compare the offers and choose the best one. Apply now and get money against your gold within 30 minutes.

Features of SBI Gold Loan 

Following are the Features of Gold Loan:

  1. To begin, You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose.
  2. Secondly, You get 100% Safety & Security of your Gold Jewelry.
  3. Also, Get your Loan processed in less than 30 minutes.
  4. In addition, Enjoy Anytime Liquidity.
  5. Furthermore, Lower Gold Loan Interest Rates.
  6. Moreover, Simple documentation and fast processing.

Why Consider SBI for a Gold Loan?

Following are the Advantages of a Gold Loan:

  1.  No income and salary criteria: To begin, Gold loans do not require any documentation or validation for income or salary of the person. So, even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return for the money.
  2. CIBIL Score not Required: In addition, The gold loan can be provided in cases of bad credit history as well as low-income level.
  3. Relatively Lower Interest Rates: Another advantage of taking a gold loan is that they are available at low interest rates, say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
  4. Overdraft Facility: You need to repay only the interest- You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.
  5. Total Convenience- The most convenient of all the loans is a gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
  6. Less processing time- No tedious and lengthy documentation is required in case of gold loans, hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.

What is SBI Gold Loan Eligibility?

Being eligible for a gold loan is easier in comparison to other loans:

  1. To begin with, the age of the applicant should lie between 18 years to 70 years.
  2. Secondly, the applicant should be a citizen of India.
  3. Thirdly, The quality of gold should be from 18 Carat to 22 Carat in order to get a loan.
  4. Another equally important criteria are the weight of gold which should be more than 10 grams.
  5. Lastly, Anyone can apply for a gold loan whether you are a salaried applicant or self-employed.

What are the Documents Required for SBI Gold Loan?

The documents should be particularly from the following options

Applicant Identity Verification Documents can be amongst the below  documents (ANY):

  1. Passport: Valid Copy of passport both front and last page
  2. Voters ID card: Copy of Valid Voter Identity Card
  3. Driving License: Copy of Driving license which is valid.
  4. Adhar card: Copy of Adhar Card with current information

Applicant Address Verification Proof can be amongst the below documents(ANY):

  1. Passport: Valid Copy of passport both front and last page
  2. Voters ID card: Copy of Valid Voter Identity Card
  3. Driving License: Copy of Driving license which is valid.
  4. Adhar card: Copy of Adhar Card with current information
  5. Utility Bills on the name of the applicant.
  6. Sales Tax Certificate
  7. Rental Agreement

Signature Verification Documents required are namely:

  1. Valid Copy Passport
  2. Bank’s Verification Certificate
  3. Cheque

 Additional Documents Required:

  1. First of all, The banks generally demand the above-given documents. However few banks demand some additional documents, which are mentioned below:
  2. Next, Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. The proof is not required for allied agriculture purposes.
  3. Also, A Demand Promissory Note.
  4. In addition, Certificate by the Jewel Appraiser (Bank will arrange).
  5. Finally, Income Proof: Salary Certificate and Form No.16.

SBI Gold Loan Per Gram 

When it comes to a gold loan, people are generally concerned about the Gold Loan Per GramTo get SBI Gold Loan an applicant should have at least 10 grams of gold. Following is the amount of loan that banks disburse on per gram of gold:

Purity Gold Loan/10 Gram Gold Loan Per Gram
18 Carat Rs 16,400 Rupees 1,640
19 Carat Rs 17,200 Rupees 1,720
20 Carat Rs 18,500 Rupees 1,850
21 Carat Rs 19,000 Rupees  1,900
22 Carat Rs 20,500 Rupees 2,500






How to Apply?

Online  Process

Through the Online process, the applicant gets the opportunity to avail the service of gold loan at the comfort of their home. Just follow the following steps:

  1. First of all, Visit
  2. Secondly, fill an application form with all required fields.
  3. Thirdly, our Relationship manager will call you back to assist through the entire process.
  4. Next, you will have to submit documents in the bank.
  5. Finally, your loan will be approved in just some minutes.
  6. Apart from the above process, you can directly call us at 95920-46860.

Offline Process

Beside the above process, the applicant can also apply for a gold loan through nearby SBI bank. To find nearby branch search Gold Loan Near me on google. Google will enlist all the banks available near you. You can visit the branch that is nearest to you. But, this process is quite tiring and time-consuming.

SBI Gold Loan EMI Calculator

You have the option to check the EMI's through the EMI calculator, in order to have an idea of the amount that you will have to spare every month. 

SBI Gold Loan EMI Calculator

Major Banks Proving Gold Loan 


Gold Loan Rate 
HDFC Bank 10.75%
Yes Bank  10.85%
Axis Bank 10.90%
SBI Gold Loan 11.50%
ICICI Bank 11.75%
IIFL Gold Loan 11.75%
Allahabad Bank Gold Loan 11.75%
Muthoot Gold Loan 12.00%
Federal Bank Gold Loan 12.00%
Manappuram Gold Loan  12.25%
IDBI Bank 12.25%
PNB Gold Loan 12.25%