Apply for Loan against Sovereign Gold Bond Online in India | SBI - Personal Banking

a) SBI Loan against Sovereign Gold Bond is a general-purpose Loan scheme available to individuals, against security of Sovereign Gold Bonds (SGBs) issued by Reserve Bank of India.

b) It can be taken for meeting expenses of sudden medical exigency, margin money for Home Loan/ Car Loan/ Education Loan, travel plans etc. c) However, loan will not be sanctioned for speculative purposes.

Loan is normally sanctioned on the same day of application and loan amount is credited to customer’s account.

No. You can apply for Loan against SGB at SBI only if SGB (in physical form) has been purchased through an SBI branch.

If your SGB is in demat form and you have a demat account with SBI Capital securities Ltd (SSL), then after opening a Saving Account with SBI, you may avail this loan.

Anyone above 21 years of age with steady source of income.

No, it is not necessary, but she/he should have the capacity to service the interest and repay the loan.

• a) Two Passport Size Photographs.
• b) ID proof (Aadhar Card/ Voter Identity Card /Driving License)
• c) Address Proof (Aadhar Card/ Voter Identity Card /Driving License)

Minimum Loan amount is Rs. 20,000 and maximum is Rs. 20 lacs per individual.

0.50 % of the loan amount + applicable taxes or Rs. 500/- + applicable tax, whichever is higher.

• For Overdraft – 36 Months
• For Demand Loan - 12 Months

• In Overdraft account, customers have to pay monthly interest applied in the loan account.
• Demand loan is payable at the end of the term (Total principal plus accrued interest).

Interest rate wef 15.08.2023 is 10.95% p.a.

Please note that Interest Rate is subject to change as per Bank’s policy.

Margin of 35% is to be maintained for loans against SGB. Market value of per gram gold is published monthly by Precious Metals Department, PBBU for this purpose.

No

Yes, you can avail additional loans up to maximum loan amount of Rs 20.00 lacs.

No

No, there is no prepayment penalty.

No. Loan can be closed at any point of time without any foreclosure charges

No. The Loan can be applied for only at that branch from where SGB was purchased by the customer.