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South Indian Bank Gold Loan Highlights |
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| Interest Rate | 9.25%-14.80% p.a. |
| Loan Amount |
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| LTV Ratio | Up to 75% as fixed by the bank from time to time |
| Tenure | Up to 3 years |
| Collateral | 22 karat gold jewellery/ornaments |
| Processing Fee | 0.25% of loan amount |
| Repayment | Personal Segment:
Business Segment:
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Rates as of 13 March 2025
South Indian Bank Gold Loan Interest Rates
South Indian Bank gold loan interest rates start from 9.25% p.a. onwards. The lender offers differential interest rates depending on the type of gold loans offered to its applicants.
| Loan Type | Interest Rate (p.a.) |
| Gold Power (Business Segment)- OD | 14.80% |
| Gold Loan Personal (EMI/OD) | 14.55%-14.80% |
| Gold Max | 9.25% |
Types of South Indian Bank Gold Loan
SIB Gold Loan- Personal Segment
Purpose: South Indian Bank offers gold loan for personal and consumption needs, except for speculation.
Loan Amount: Rs 5,000-Rs 10 crore
LTV Ratio:
- For loans repaid at the end of loan tenure- Up to 73% as fixed by the bank
- For loans repaid with monthly interest servicing- Up to 75% as fixed by the bank
Collateral: Pledge of 22 karat gold jewellery/ornaments
SIB Gold Loan- Personal Segment Repayment Options
South Indian Bank offers the following gold loan repayment options:
- Gold loans with repayment at the end of loan tenure- 3 months/6 months/12 months variants
- Gold loans with monthly repayment options- 12 to 36 months with monthly interest servicing or EMI if opted by the borrower
- Gold Loan Takeover scheme- This is a balance transfer facility with bullet repayment option offered to existing gold loan borrowers of other lenders.
SIB Gold Loan-Business Segment
Gold Power/Power Re-Pledge/NEO Schemes
Purpose: South Indian Bank offers Gold Power/Power Re-Pledge/NEO Schemes to meet the business requirements of self-employed individuals or commercial enterprises or for on-lending purposes.
Loan Amount:
- Minimum loan amount- Gold Power- Rs 0.25 lakh; NEO- Rs 25 lakh
- Maximum loan amount- Rs 25 crore
LTV Ratio:
- Overdraft schemes- Up to 75% as fixed by the bank from time to time
- Term Loans under NEO- Up to 75% as fixed by the bank from time to time
Tenure: Up to 3 years
Collateral: 22 karat (916) gold ornaments or jewellery
SIB Gold Loan- Business Segment Repayment Options
South Indian Bank offers the following gold loan repayment options for business segment:
- Overdraft- up to 3 years with monthly interest servicing wherein the gold loan can also be renewed after 3 years
- NEO scheme- 3 months/6 months/12 months with repayment at the end of the loan tenure
Micro Gold Scheme
Purpose: Micro Gold Scheme is offered to meet the temporary business requirements of individuals involved in any income generating activities under the micro segment.
Loan Amount: Rs 25000-Rs 10 lakh
LTV Ratio: Up to 71% as fixed by the bank from time to time
Tenure: 6 months or 1 year
Collateral: 22 karat gold jewellery or ornaments
Repayment: At the end of loan tenure
South Indian Bank Gold Loan Eligibility Criteria
- The applicant should be an Indian citizen
- The minimum age of the applicant should be 18 years at the time of loan application
- The applicant should own gold jewellery or ornaments that is pledged as collateral
Gold Power/Power Re-Pledge/NEO Scheme
- Individuals
- Proprietorship concern
- Hindu Undivided Family
- Partnership Firm
- Private Limited
- Public Limited Companies
- LLP
Documents Required for availing Gold Loan from South Indian Bank
- Identity Proof- Aadhaar card, Passport, PAN card
- Address Proof- Rental agreement, utility bills
- Passport size photographs
Gold Loan- Business Segment
Gold Power/Power Re-Pledge/NEO Schemes
- Proof of business or self-employment from businessmen/entities/self-employed individuals
- For Re-Pledge borrowers- License or additional documents as per norms to be submitted