Multi Purpose Gold Loan Scheme

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Multi Purpose Gold Loan

Purpose

To meet the short-term production / investment credit needs of

  • The farmers, engaged in agriculture, cultivating own and /or leased land or engaged in cultivation of crops
  • Farmers in allied activities like Dairy, Poultry, Fisheries, Piggery, Sheep, etc.
  • Entrepreneurs and famers who needs investment credit for acquiring farm machinery, undertaking land development, irrigation, horticulture, etc.
  • All other farming activities which are permitted to be classified under agriculture as per RBI/GoI/NABARD guidelines and not covered under the Agri Interest subvention scheme.

Loan Amount

  • Minimum: Rs. 2,00,001/-
  • Maximum: Rs. 25,00,000/-

Eligibility

  • All farmers: Individuals who are owner cultivators, Agri entrepreneurs.
  • Tenant farmers, Oral lessees & Sharecroppers
  • Any person engaged in any agriculture or allied activities

Features:

  • Type of Facility:Demand Loan
  • Quantum of Loan: Basis of Advance value of gold ornaments per gram of different level of purity (24/22/20/18 carats)
  • Repayment:12 months from the date of disbursement of the loan.
  • Security:Pledge of gold ornaments

Documents Required

  • Two copies of photograph of the borrower
  • KYC documents
  • Application
  • Evidence of land holding or Allied activities.
  • Any other document as per sanction.

Interest, Fees and Charges

  • Interest Rate: One Year MCLR rate.
  • Processing/ Inspection Charges
    • Above Rs.2.00 lakhs : 0.30% of loan limit + GST.

  • For more details, please visit nearest SBI Branch.

Last Updated On : Tuesday, 08-04-2025

Interest Rates

8.00%* p.a. onwards

w.e.f. 15.04.2025

*T&C Apply.

 

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