|Gold Loan (All variants)||9.15%|
|Rural gold loan||9.95%|
|Realty Gold Loan||8.40%|
Note: Interest rates given above are as on 27.03.2020 and may change from time to time.
The tradition of availing loans against valuables had been in practice for centuries. Though earlier it had been through unorganized money lenders, this age old practice has now been institutionalized by banks in the form of gold loans. SBI gold loan is a secured loan and requires applicants to pledge their gold with the bank. SBI claims a quick processing time and minimal documentation with which one can avail gold loan from SBI in a matter of few minutes. Before availing a gold loan from any financial institution, one should know interest rates and repayment methods. We discuss the SBI Gold Loan interest rates and schemes in detail below.