Bullion Business


State Bank of India is a nominated bank authorised by the RBI to import gold into India for sale to customers. We import gold from highly reputed Banks abroad, for sale to the bullion jewellers/traders.

State Bank of India has been active in Gold Banking business since 1998. The product includes Metal Gold Loan and Outright Sale of Gold for both domestic and export purpose. Under this scheme, Bank provides working capital finance to jewellery manufacturers through Metal Gold Loans. Jewellers can procure gold as a loan from the bank for manufacturing of jewellery and sell it in the domestic market or export it.

We offer Metal Gold Loan (Domestic and Export) at very competitive rate to our customers who are enjoying borrowed limits with us as well as to those customers who are having limits with other banks, against the security of Bank Guarantee / SBLC issued by their banks.State Bank of India offers best exchange rates, Gold Forwards (a risk hedging product) to provide an edge to your business operations.

For more details, call us on 22741395 or write to us at dgm.preciousmetals@sbi.co.in

 

Rate of interest for last 10 years for Metal Gold Loan (MGL) {in %}


Scheme
2008
2009
2010
2011
2012
2013
2014

Metal Gold Loan

 

 

 

 

 

 

 

(Security Wise Rate of interest)

 

 

 

 

 

 

 

A (Cash)

 

5.00

5.25

4.50

4.50

4.00

4.00

B (Bank Gaurantee)

 

5.75

5.50

4.75

4.75

4.50

4.50

C (CCA & Above)

 

6.00

6.50

6.25

6.25

5.00

5.00


RATE OF INTEREST FOR MGL 2015 ONWARDS TILL DATE (IN %)

Security
Cash Security
Bank Gaurantee
CC Limit(A-& Above)
Cash Credit & Other

IF CONSIGNMENT IMPORTED GOLD IS UTILIZED

A-IF Sanctioned mgl limit is less than 50 kg

3.00

3.00

4.00

4.75

B-IF Sanctioned mgl limit is 50 kg or more

2.85

2.85

3.75

4.50

IF GDS GOLD STOCK IS UTILIZED

A-IF Sanctioned mgl limit is less than 50 kg

2.85

2.85

3.75

4.50

B-IF Sanctioned mgl limit is 50 kg or more

2.70

2.70

3.50

4.25