Know SBI Gold Loan Per Gram Rate: Check Eligibility and Interest Rates

If you’ve ever owned gold jewelry or ornaments and been strapped for cash, you might have considered selling them for some quick cash. But what if we told you there was a way to get cash without selling your precious gold? Enter: the gold loan.

A gold loan is a secured loan where you pledge your gold jewelry or ornaments as collateral to the lender, who in return gives you the loan amount. The best part? You get to keep your gold and repay the loan amount with interest over time.

One of the most trusted banks in India, State Bank of India (SBI), offers gold loans at attractive interest rates. SBI’s gold loan is a quick and hassle-free way to get cash when you need it the most, without the need for a credit check or income verification.

SBI Gold Loan Per Gram Rate

Before we jump into the current SBI gold loan per gram rate, let’s define what it actually means.

The gold loan per gram rate is the amount of money you can borrow from the bank for every gram of gold that you pledge as collateral. So, the more gold you have, the higher loan amount you can get.


Current SBI Gold Loan per gram rate today

As of today, the SBI gold loan per gram rate is Rs. 4,680. But wait, that’s not all. SBI also offers a discount of Rs. 50 per gram if you apply for a gold loan online. So, that means you get to keep your pajamas on and save some extra bucks while you’re at it.

Features of SBI Gold Loan

SBI Gold Loan Per gram rate
  1. Flexible loan amount: Need a little or a lot? You can borrow anywhere between Rs.20,000 and Rs.50 lakh. So whether you’re looking to fund a small project or make a big purchase, SBI has got you covered.
  2. Flexible repayment tenure: The loan can be repaid through EMIs (Equated Monthly Installments), with the maximum period ranging between 12 months and 36 months. That means you can choose a repayment schedule that fits your budget and timeline.
  3. Flexible loan repayment modes: SBI offers three different repayment options – gold loan, liquid gold loan, or bullet repayment gold loan – so you can choose the one that best suits your needs.
  4. Security: Rest easy knowing that the gold items you provide as security for your loan will be returned to you once you’ve fully repaid the loan. So you won’t have to part with your precious jewelry forever!
  5. Fast approval: SBI Gold Loans are easy to avail, with quick approval and minimal documentation. That means you can get the funds you need without a lot of hassle.
  6. Low processing fee: SBI charges a processing fee of just 0.25% of the loan amount, which is pretty reasonable compared to some other lenders.
  7. Prepayment: Want to pay off your loan early? No problem! SBI doesn’t charge any prepayment fees, so you can pay it off whenever you’re ready.

Overall, SBI Gold Loan has a lot going for it. So if you’re in need of some quick cash and have some gold lying around, it might be worth considering!

Eligibility for SBI Gold Loan

  • All you need to be is 18 years or older and
  • have a steady source of income. It doesn’t matter if you’re a banker, a baker, or a candlestick maker, as long as you can prove that you’ve got some cash flowing in, you’re good to go.
  • if you happen to be a retired government employee or pensioner, you don’t even need to provide any proof of income – just your good name and a smile will do!

Gold Jewelry Requirements for SBI Gold Loan

SBI Gold Loan Per gram rate

The gold jewelry you pledge as collateral must be of a certain purity level, which is usually around 18-22 carats. And no, you can’t just spray paint your fake gold jewelry and try to pass it off as the real deal. The bank will test the gold’s purity level before approving your loan.

Co-Applicant Requirements

If you’re a student or don’t have a steady source of income, you might need to bring a co-applicant along with you.

Credit Score and Income Requirements

Good news! You don’t need a high credit score or a six-figure income to be eligible for an SBI gold loan.

As long as you have a steady source of income and can repay the loan on time, you’re good to go.

SBI Gold Loan Interest Rates and Fees

The SBI gold loan interest rate is currently at 7.50% per annum, which is quite reasonable compared to other loan options. And if you’re a woman or a farmer, you get an additional discount of 0.50%, which is like a cherry on top of your loan sundae.

Interest Rates7.50% onwards
Processing FeeSBI charges a processing fee of 0.25% of loan amount, subject to a minimum of Rs 250 and no processing fee if applied through YONO.
Prepayment ChargesNIL

SBI Gold Loan Rate Per Gram LTV

What is the maximum loan amount you can borrow from SBI Gold Loan ?

Well, the maximum loan amount you can get from SBI is up to 75% of your gold’s value. And what’s left as margin? Just a measly 25%. But don’t worry, you can still buy a fancy burger with that.

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Of course, the actual loan amount you’ll get depends on various factors like the LTV ratio, gold purity, weight, loan scheme, and tenure. And if you need more than what you’re eligible for, SBI might retain a higher margin.

Now, let’s talk about the per gram rate.

For gold purity between 18 to 22 carats, the lowest and best per gram rates offered by SBI range from Rs. 2,365 to Rs. 3,336. But, remember that the actual rate you’ll get also depends on the LTV ratio.

To give you an idea, let’s take the example of Rohit, Karan and Mohit.

Rohit has 22 carats of gold weighing 50 grams, Karan has 20 carats of gold weighing 60 grams, and Mohit has 18 carats of gold weighing 70 grams.

Based on an LTV ratio of 75%, Rohit can get a loan of Rs. 2.29 Lakhs, Karan can get Rs. 2.50 Lakhs, and Mohit can get Rs. 2.62 Lakhs.

How can you get the best loan amount per gram rate? Here are a few tips:

Firstly, go for hallmarked gold jewellery if possible. SBI offers the highest per gram rate for hallmarked jewellery, which also has a lower processing fee. So, if you have a chance to get some bling with a hallmark, do it.

Secondly, keep in mind that the per gram rate is based on 22 carats gold purity. If your gold has a lower purity, then the rate will be adjusted accordingly. So, choose your gold wisely.

Thirdly, choose jewellery with the maximum gold content. The weight of stones and gems is reduced to calculate the net weight of the gold. So, the more gold you have, the higher loan amount you’ll get.

Lastly, negotiate for the highest LTV ratio possible. The maximum LTV ratio allowed by RBI is 75%, so don’t be shy to ask for it. After all, you’re bringing in some serious bling to the table.

Documents Required for SBI Gold Loan

When applying for a gold loan from SBI, you will need to furnish a few documents. Don’t worry, it’s not as painful as getting your wisdom teeth removed. The documents required are:

Identity ProofAny government-issued ID card like Aadhaar card, Voter ID card, or PAN card.
Address ProofUtility bills, rental agreements, or other government-issued address proof documents.
Signature ProofPassport, driver’s license, or PAN card.
PhotoTwo recent passport-sized photographs.
Proof of Ownership of Gold JewellaryAn invoice or receipt of purchase or any other relevant document.

Once you have gathered all the required documents, you can submit them to the bank for verification. After successful verification, you will be able to get a gold loan from SBI.

Gold Ornaments Accepted by SBI Bank Gold Loan

SBI Gold Loan Per gram rate

SBI accepts almost all types of gold ornaments like necklaces, bracelets, rings, and earrings.

But be warned, the bank will not accept any Gold BAR/Biscuite or any other non-jewelry item as collateral for a gold loan.

Tips for Selecting the Right Gold Jewelry for a Gold Loan To get the best value for your gold jewelry, here are a few tips to keep in mind:

  1. Choose the right purity: The higher the purity of gold, the higher the loan amount you can get. SBI accepts gold with purity ranging from 18 carats to 22 carats.
  2. Avoid heavily embellished jewelry: SBI calculates the loan amount based on the net weight of the gold. So, if your jewelry is heavily embellished with stones or other materials, the net weight will be reduced, resulting in a lower loan amount.
  3. Check for hallmarks: Hallmarked jewelry is always preferred by banks because it indicates the purity of gold. So, if you have hallmarked jewelry, you may get a better loan amount and lower processing fees.
  4. Keep the original bills handy: To prove your ownership of the jewelry, you should always keep the original bill or invoice of purchase with you.

Remember, choosing the right gold jewelry can make a huge difference in the loan amount you receive. So, choose wisely!


Well, folks, that’s all for now! We hope you found this article informative and entertaining, just like a great comedy show.

In summary, SBI offers gold loans at competitive rates, with flexible repayment options, and accepts a wide variety of gold jewelry. So, if you’re in need of some quick cash, a gold loan might just be the perfect solution for you!

Remember, while applying for a gold loan with SBI, make sure you have all the necessary documents handy, and choose your gold jewelry wisely to maximize your loan amount. And, if you’re still unsure, don’t hesitate to contact SBI customer support for assistance.

FAQs (Frequently Asked Questions)

What is a gold loan, and how does it work?

A gold loan is a type of secured loan that you can take by pledging your gold ornaments as collateral. You can get a loan amount against your gold’s value, and the bank holds your gold until you repay the loan amount with interest.

What is the maximum loan amount I can get with an SBI gold loan?

The maximum loan amount you can get with an SBI gold loan is up to Rs. 50 lakhs.

What is the LTV ratio for an SBI gold loan?

SBI offers a maximum loan to value ratio up to 75%.

What is the interest rate for an SBI gold loan?

The interest rate for an SBI gold loan starts from 7.50% per annum.

What documents do I need to apply for an SBI gold loan?

You need to provide documents like identity proof, address proof, gold ornaments ownership proof.

What is the tenure for an SBI gold loan?

The tenure for an SBI gold loan ranges from 3 months to 36 months.

Can I prepay my SBI gold loan?

Yes, you can prepay your SBI gold loan at any time without any prepayment penalty.

What happens if I am unable to repay my SBI gold loan?

If you are unable to repay your SBI gold loan, the bank will auction off your gold to recover the outstanding loan amount.

Can I apply for an SBI gold loan online?

Yes, you can apply for an SBI gold loan online through the SBI website or YONO app.

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