Revamped Gold Deposit Scheme (R- GDS) - Personal Banking
Revamped Gold Deposit Scheme (R-GDS)


Revamped Gold Deposit Scheme (R-GDS)
RBI, vide its Notification no. DoR.AUT.REC.71/23.67.001/2024-25 dated 25.03.2025, has discontinued the Medium Term and Long Term Government Deposit (MLTGD) components of Gold Monetisation Scheme (GMS) with effect from March 26, 2025. However, RBI has allowed designated banks to offer Short Term Bank Deposits under GMS. Accordingly, Bank will accept gold Deposits under STBD only.
Features of Short Term Bank Deposits (STBD)
- To mobilize the idle gold in the country and put it into productive use.
- To provide the customers an opportunity to earn interest income on their idle gold holdings.
- Persons Eligible to make a deposit: Resident Indians [Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations, Companies, charitable institutions, Central Government, State Government or any other entity owned by Central Government or State Government] can make deposits under the scheme
- Tenure- 1 to 3 years
- Gold is accepted in the form of raw gold i.e. Gold bars, Coins, Jewellery excluding stones and other metals.
- The Gold can be deposited at bank’s authorised Collection & Purity Testing Centres (CPTC) or at the Designated Branches (for large deposits).
- Deposit Quantity: Minimum 10 grams of raw Gold (excluding stones and other metals). No maximum limit.
- Rate of Interest (STBD): The current interest rates are as under:
For 1 year: 0.50% p.a.
Above 1 year up to 2 years: 0.55% p.a.
Above 2 years up to 3 years: 0.60% p.a.
- The principal shall be denominated in gold. However, the interest shall be calculated in Indian Rupees with reference to the value of gold at the time of deposit.
- Interest shall be paid in Indian Rupees annually on 31st March or cumulative interest on maturity.
- Interest on deposits under the scheme will start accruing from the date of conversion of gold deposited into tradable gold bars after refinement or 30 days after the receipt of gold whichever is earlier.
- Repayment: Option to take repayment of principal either in gold or Indian Rupee equivaled of the deposited gold. Option to be given at the time of making the deposit and shall be irrevocable.
- Premature payment is allowed after lock-in period of 1 year with penal interest.
- Issue of Gold Deposit Certificate: The Gold Deposit Certificate will be issued in grams of gold (up to 3 decimals) with purity 995.
- Nodal Branch: Bullion Branch, Mumbai. Phone: 022-22627730 / 22616005. e-mail: gds.12002@sbi.co.in
Persons Eligible to make a deposit
Resident Indians of the following categories :
- Individuals, singly or jointly (as Former or Survivor)
- Proprietorship & Partnership firms.
- HUFs
- Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations
- Companies
- Charitable institutions
- Central Government
- State Government or
- any other entity owned by Central Government or State Government
- Gold is accepted in the form of raw gold i.e. Gold bars, Coins, Jewellery excluding stones and other metals. Customers to submit Application Form, Identification Proof, Address Proof and Inventory Form.
Repayment
- STBD : Option to take repayment of principal either in gold or equivalent rupees as on the date of maturity.
- MTGD & LTGD: Redemption of the deposit will be in Gold or INR equivalent of the value of gold as per then prevailing price of gold. However, 0.5% administrative charges will be levied in case of redemption in Gold ( The administrative charge has been revised from 0.2% to 0.5% vide Circular DoR.AUT.REC.58/23.67.001/2022-23dated August 04, 2022. However, all deposits prior to this date will continue to be governed by the 0.2% (of the notional redemption amount as on the maturity date in terms of INR) administrative charge in case of redemption in gold.)
Guidelines on Premature Redemption
Issue of Gold Deposit Certificate
- Gold Deposit Certificate will be issued by Nodal Branch (i.e. Bullion Branch, Mumbai).
- The certificate will be issued for pure gold contents (i.e. in 995 fineness)
- Gold Deposit Certificate (GDCs) will be sent to the depositor by Nodal Branch i.e. Bullion branch, Mumbai.
Effective Date
- Interest on deposits under the scheme will start accruing from the date of conversion of gold deposited into tradable gold bars after refinement or 30 days after the receipt of gold whichever is earlier.
AUTHORISED BRANCHES (LIST ATTACHED)
Grievance Redressal Mechanism
- Depositor to approach the Authorised Branch, where gold deposit has been made.
Interest rate on Gold Related Products for last 10 years (in %) | ||||||||||||||
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Scheme | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Gold Deposit Scheme | Oct-15 | |||||||||||||
Scheme A (3 Year) | 1.00 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 0.50 | |||||||
Scheme B (4 Year) | 1.25 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.75 | |||||||
Scheme C (5 Year) | 1.50 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.75 | |||||||
Revamped Gold Deposit Scheme |
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Nov-2015
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Scheme A (1 Year) | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | |||||||
Scheme A (2 Year) | 0.55 | 0.55 | 0.55 | 0.55 | 0.55 | 0.55 | 0.55 | |||||||
Scheme A (3 Year) | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | |||||||
Scheme B (5-7 Years) | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | 2.25 | |||||||
Scheme C (12-15 Years) | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
Last Updated On : Friday, 04-04-2025

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
6.50% p.a.
for loan amount up to Rs. 2 lacs
8.65% p.a.
for loan amount > Rs. 2 lacs up to Rs. 6 lacs
Gold Banking Landing Page

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
6.50% p.a.
for loan amount up to Rs. 2 lacs
8.65% p.a.
for loan amount > Rs. 2 lacs up to Rs. 6 lacs