SBI Gold Loan EMI Calculator
Calculate your SBI gold loan EMI, total interest and repayment schedule instantly — estimate the loan amount you can get against your gold ornaments at India's lowest gold loan rate, compare SBI's bank-sector pricing against specialist NBFCs, and choose the right tenure and repayment structure for your short-term cash flow.

State Bank of India offers India's cheapest gold loan rate — with rates starting from approximately 9.00% per annum under the SBI Realty Gold Loan and standard gold loan schemes. This is dramatically lower than HDFC Bank (11%+), ICICI Bank (10%+), Muthoot Finance (12%+), and Axis Bank (17%+). SBI's gold loan also offers a maximum tenure of up to 3 years — longer than ICICI Bank (12 months) — making it one of the most flexible bank-sector gold loan products in India. This SBI gold loan EMI calculator helps you estimate your monthly EMI, total interest, and the loan amount you can get against your gold ornaments at SBI's current per-gram rates.

What is an SBI Gold Loan EMI Calculator?

An SBI gold loan EMI calculator computes your Equated Monthly Instalment for a gold loan from State Bank of India. Enter the loan amount (estimated from your gold weight and SBI's current per-gram rate), the interest rate, and the tenure — and the calculator instantly shows your monthly EMI, total interest payable, and full repayment schedule. For a broader gold loan comparison across all major Indian lenders, use the gold loan EMI calculator.

What is EMI?

EMI — Equated Monthly Instalment — is a fixed amount you pay to SBI every month until the gold loan is fully repaid. Each EMI covers both the interest accrued on the outstanding principal and a portion of the principal itself. As each payment is made, the outstanding principal reduces — so more of each subsequent EMI goes toward principal repayment. Gold loans can also be structured as bullet-repayment loans (pay the full principal + interest at tenure end) or interest-only-during-tenure (pay principal as lump sum at maturity) — the calculator models the standard EMI structure.

SBI Gold Loan EMI Formula

EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]

Where P = loan principal (estimated as gold weight × per-gram value × LTV%), R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = tenure in months.

Example: ₹5,00,000 SBI gold loan at 9.00% p.a. for 24 months. R ≈ 0.0075. EMI ≈ ₹22,813. Total interest ≈ ₹47,512 — saving ₹21,888 compared to HDFC Bank at 11.00% for the same loan and tenure.

How Much Gold Loan Can You Get from SBI? (Indicative Per-Gram Rates, Mid-2025)

SBI's loan-to-value is capped at 75% as per RBI mandate for all banks. Gold coins sold by banks (up to 50g) may attract a lower LTV. Jewellery with high making charges (12%–25% of value) is valued at gold weight only — the making charge adds zero borrowing value. Actual per-gram loan amounts depend on SBI's current appraisal. Verify current rates at your nearest SBI branch with a gold appraiser.

SBI Gold Loan Schemes (Indicative, Mid-2025)

How to Use This SBI Gold Loan EMI Calculator

1. Estimate the loan amount: Weigh your gold ornaments (in grams) and multiply by the approximate per-gram SBI loan amount based on purity (see table above). For more precise figures, visit an SBI branch — they appraise gold on the spot and confirm the exact eligible loan amount.
2. Enter SBI's applicable rate: 9.00% for most standard SBI gold loans. Use the calculator's slider to also test 9.50% and 10.00% to see the EMI sensitivity. Even at SBI's upper band (11%), the EMI is significantly cheaper than HDFC Bank (11%+) and ICICI Bank (10%+), and dramatically cheaper than Axis Bank (17%+).
3. Select repayment tenure: SBI offers up to 36 months — compare 12M, 24M, and 36M to see the EMI vs total interest trade-off. A 36-month gold loan has the lowest monthly EMI but the highest total interest; 12-month has the highest EMI but lowest total cost.
4. Consider the overdraft option: SBI also offers a gold loan overdraft facility — you draw as needed up to a sanctioned limit backed by gold, and pay interest only on the amount actually utilised. If your cash need is intermittent (farm inputs, seasonal business), the OD option often costs less in total interest than a full-term EMI loan.

EMI at 9.00% p.a. (SBI's base rate).

SBI vs HDFC Bank vs ICICI Bank vs Axis Bank — Gold Loan Rate Comparison

On a ₹5 lakh gold loan for 24 months, SBI saves ₹44,784 vs Axis Bank and ₹12,504 vs HDFC Bank. For any gold-backed borrower with access to an SBI branch, these savings are automatic — the process is as simple as walking in with your gold.

SBI Gold Loan vs Personal Loan — Which is Cheaper?

For existing SBI customers who own gold ornaments, a gold loan at 9.00% is far cheaper than an SBI Xpress Credit personal loan at 11.45%+. On ₹5 lakh for 24 months:

• Gold loan at 9.00%: EMI ₹22,813, total interest ₹47,512
• Personal loan at 11.45%: EMI ₹23,373, total interest ₹60,952
• Saving by pledging gold: ₹13,440 over 24 months

The trade-off: gold must remain pledged for the loan duration, and failure to repay risks auction of the gold. For emergency liquidity needs where the gold can be redeemed within 1–3 years, SBI gold loan is the cheapest unsecured-equivalent option in the market.

• Loan amount estimation before branch visit: Calculate the approximate eligible loan by entering gold weight × per-gram rate × 75% LTV. Arrive at the SBI branch knowing your expected loan amount — this prevents surprise and allows informed negotiation.
• Repayment structure comparison: Compare EMI repayment vs bullet repayment for the same tenure. Bullet repayment defers all payments to maturity — useful for farmers waiting for harvest proceeds or traders waiting for inventory liquidation — but the total interest is identical. The EMI structure preserves more financial discipline and reduces auction risk.
• Rate sensitivity modelling: Test SBI's rate from 9.00% to 11.00% to understand how much the EMI changes. On a ₹5 lakh loan for 24 months, the difference between 9.00% and 11.00% is only ₹521/month — but ₹12,504 in total interest over the loan's life.
• Auction risk awareness: The amortisation schedule shows exactly how much principal is outstanding at each point. If you foresee a cash crunch at months 18–24, knowing the outstanding balance helps you plan for partial prepayment or loan renewal before SBI's 90-day default-to-auction process begins.
• Comparison with personal loan: By running both scenarios through the calculator (gold loan at 9% vs personal loan at 11.45%–12%), you can quantify exactly how much pledging gold saves — enabling an informed choice between convenience (unsecured personal loan) and cost (gold loan).

• Gold purity and weight: Only 18–24 karat gold is accepted. The appraised weight (not including the metal setting for jewellery with gem stones) at SBI's current rate determines the eligible loan amount. 22 karat ornaments (most Indian jewellery) yield approximately ₹6,330 per gram at current gold prices — meaning 100 grams of 22K jewellery supports approximately ₹6.33 lakh in gold loan.
• Loan-to-Value (LTV): RBI mandates a maximum LTV of 75% for gold loans from banks. This cannot be negotiated above 75% regardless of the branch or relationship. NBFCs also cap at 75% under RBI guidelines. The cap applies to the appraised gold value — not the purchase price of jewellery (which includes making charges).
• Interest rate band: SBI's gold loan rate ranges from 9.00% to 11.00% based on the loan amount, tenure, and type. Larger loan amounts and longer tenures may attract higher rates within this band. The published rate of 9.00% applies to standard loans — confirm the specific applicable rate for your loan quantum at the time of appraisal.
• Chosen tenure: SBI allows up to 36 months — longer than ICICI Bank's 12-month maximum. Choosing 36 months reduces the monthly EMI significantly (from ₹43,724 to ₹15,900 on ₹5 lakh) but triples the total interest cost. The gold remains pledged for the entire tenure — a 36-month commitment means no access to the ornaments for 3 years.
• Repayment structure: SBI offers EMI, bullet (pay all at end), and overdraft (draw as needed against gold collateral) structures. EMI minimises total interest for term borrowing; overdraft minimises total interest for intermittent cash needs (paying interest only when drawn). Bullet repayment is useful for predictable lump-sum income (harvest, bonus, property sale).

• Choose the shortest tenure your cash flow allows: At SBI's 9.00% rate, a 12-month gold loan on ₹5 lakh costs ₹24,540 in total interest. A 36-month loan on the same amount costs ₹72,400 — nearly 3× more. If you can manage the higher 12-month EMI (₹43,724), the saving is ₹47,860. For smaller amounts where the 12-month EMI is manageable, always prefer shorter tenure on a gold loan.
• Use the overdraft facility for working capital needs: If your gold loan purpose is business working capital (seasonal inventory purchases, bridging payments between accounts receivable), the SBI gold loan OD facility charges interest only on the amount drawn on any given day — not on the full sanctioned amount. Active businesspeople with cyclical cash needs can save substantially over a fixed EMI loan where full interest accrues on the disbursed amount from day one.
• Prepay when lump-sum funds are available: SBI gold loans can be prepaid at any point. When a harvest payment, dividend, or sale proceeds arrive, apply them directly to the gold loan principal — every rupee prepaid saves the remaining interest on that amount for all remaining months. Prepayment also releases the pledged gold earlier.
• Renew rather than default: If you cannot repay at maturity, proactively visit SBI to renew the gold loan for another tenure before the account becomes an NPA. Gold loan renewal (re-pledging the same gold for a new loan) typically resets the tenure at the current rate — and prevents the 90-day auction process that triggers when a gold loan becomes delinquent. Renewal also avoids the credit score damage of a default.
• Compare with SBI's personal loan and home loan alternatives: Gold loans at 9.00% are always cheaper than personal loans (11.45%+). However, for borrowers with significant home equity, a top-up home loan at 8.75%–9.00% may be even cheaper — with longer tenure and tax-deductibility of interest (if purpose is home improvement). If the borrowing need is large and home equity is available, the top-up home loan at lower total cost might be worth the more complex documentation process.

SBI gold loan of ₹5,00,000 at 9.00% p.a.

For most household borrowers pledging jewellery for emergency cash, a 12–24 month tenure balances affordability with total cost. The 36-month option offers the lowest EMI but means the family jewellery remains at SBI for 3 full years — consider whether the gold is needed for weddings, family functions, or other occasions before committing to the longest tenure.

• Not knowing the correct gold weight before visiting SBI: Making charges, gemstone settings, and metal parts (clasps, hooks) are excluded from the gold valuation. Weigh only the gold content before the visit — or get a rough estimate from a local jeweller. Arriving with accurate gold weight expectations prevents surprise when SBI's appraiser offers a lower amount than expected.
• Choosing a long tenure simply to minimise the EMI: A 36-month gold loan at 9% costs nearly 3× the interest of a 12-month loan (₹72,400 vs ₹24,688 on ₹5 lakh). If the loan purpose is clearly short-term (3–6 months' bridging), choosing a 12-month tenure and prepaying early minimises total cost. Use the longest tenure only if genuinely needed for long-term affordability.
• Not exploring the overdraft option for working capital: Many small business borrowers take standard EMI gold loans when the OD facility would be cheaper for their use case. If you draw ₹5 lakh from the gold loan OD for only 45 days before repaying, you pay just 45 days of interest — not 12 months of EMIs on the full amount. For cyclical business needs, ask specifically about the gold loan OD at your SBI branch.
• Failing to renew before maturity if repayment is uncertain: SBI gold loans that mature unpaid can go into NPA status and trigger the auction process. If you know at months 8–10 of a 12-month loan that full repayment at maturity will be difficult, proactively contact SBI to renew the loan for another tenure. Renewal is faster and simpler than taking a new loan — and prevents the credit score damage and auction risk of default.
• Not comparing with an SBI top-up home loan for large amounts: For homeowners with available home equity, an SBI home loan top-up at 8.75%–9.00% can be both cheaper and larger (up to ₹2 crore) than a gold loan. The top-up requires documentation and takes longer to sanction — but for ₹20–50 lakh borrowing needs, the interest saving and longer tenure (10–20 years) may make a top-up home loan far more suitable than a 36-month gold loan.

Disclaimer

All EMI figures are mathematical estimates based on the standard reducing-balance formula. Actual EMIs from SBI may differ based on internal pricing, appraisal methodology, processing fees, and individual loan terms. Gold loan per-gram rates are indicative and change daily with gold prices — always verify the current SBI per-gram rate and eligible loan amount by visiting an SBI branch with your gold for appraisal before applying. The 75% LTV cap is as per RBI mandate and applies uniformly. This page is not affiliated with or endorsed by State Bank of India. Verify all current rates, fees, and terms directly with SBI before applying. This calculator does not constitute financial or investment advice.

What is SBI's gold loan interest rate?

As of mid-2025, SBI gold loan rates start from approximately 9.00% per annum — India's lowest gold loan rate among major bank-sector lenders. Compare: ICICI Bank from 10%, HDFC Bank from 11%, Muthoot Finance from 12%, Axis Bank from 17%. The actual rate for your specific loan amount and tenure will be confirmed at the SBI branch during gold appraisal. SBI's rate is significantly below the 12%–24% rates typically seen at gold loan NBFCs.

How much gold loan can I get from SBI?

SBI lends up to 75% of your gold's appraised value (as per RBI mandate). For 22 karat gold at current prices (~₹8,440/gram), you can expect approximately ₹6,330 per gram. 100 grams of 22K jewellery would support approximately ₹6.33 lakh in SBI gold loan. The minimum loan is ₹20,000 and the typical maximum at branch level is ₹50 lakh. Note: making charges, gemstone weight, and metal settings are excluded from gold weight assessment.

Does SBI gold loan require a CIBIL score?

No. SBI gold loans are secured against gold ornaments — CIBIL score is not a mandatory requirement. Gold loans are one of the few bank credit products accessible to borrowers with a low or no CIBIL history. However, having an existing SBI account and good banking history may facilitate faster processing and same-day disbursement.

What is the maximum tenure for an SBI gold loan?

Up to 36 months (3 years). This is longer than ICICI Bank (12 months) but equal to many NBFCs (Muthoot, Manappuram). A 36-month tenure significantly reduces the monthly EMI — from ₹43,724 to ₹15,900 on ₹5 lakh at 9% — at the cost of tripling total interest paid and keeping the gold pledged for 3 full years.

What types of gold does SBI accept for gold loans?

SBI accepts 18–24 karat gold jewellery and ornaments. Gold coins sold by banks (e.g., by SBI itself) are accepted up to 50 grams. Gold bars, coins from non-bank sources, and gold bullion are generally not accepted. Gold with gem stones is assessed based on the gold component only — the gems and metal settings are excluded. Gold jewellery must be in physical possession at the branch for appraisal.

What is the SBI gold loan overdraft facility?

The gold loan overdraft (OD) is a revolving credit facility backed by pledged gold. Instead of receiving a fixed disbursed amount and paying EMIs, you receive a credit limit (up to 75% LTV on your gold value) and draw as needed. Interest is charged only on the drawn amount for the days it is outstanding. This is ideal for working capital, farm inputs, or seasonal business needs where cash requirements are intermittent — paying interest only when the money is actually used.

How quickly does SBI disburse a gold loan?

Same-day disbursement is standard for most SBI gold loans. The process involves: visit SBI branch → gold appraiser assesses purity and weight (15–30 minutes) → loan amount confirmed → documentation signed → amount credited to SBI account or disbursed in cash (up to ₹20,000). Total branch time is typically 1–2 hours. This is comparable to NBFCs like Muthoot Finance and considerably faster than SBI's personal loan or home loan processing.

Can I prepay my SBI gold loan?

Yes — SBI gold loans can be prepaid at any point without prepayment charges. When you prepay fully, the pledged gold is immediately released and returned. Partial prepayments reduce the outstanding principal and the remaining EMIs. If you receive a sudden lump sum (salary bonus, agricultural income, sale proceeds), applying it to your gold loan immediately releases the gold and saves all remaining interest on the prepaid amount.

What happens if I can't repay my SBI gold loan?

After a default period (typically 90 days), SBI may initiate the auction process for the pledged gold. Before auction, SBI typically sends notices and allows the borrower to regularise the account. To prevent this, proactively contact SBI for gold loan renewal (extend tenure) or restructuring before reaching the default threshold. SBI's gold auction process is regulated and transparent — but losing family jewellery to auction is irreversible. Prevention through timely communication is critical.

How does SBI gold loan compare to Muthoot Finance?

SBI: 9.00% vs Muthoot Finance: 12%+. On ₹5 lakh for 24 months, SBI saves approximately ₹18,816 in total interest. Muthoot Finance offers doorstep gold collection (no need to visit branch), more branches in smaller towns, and sometimes faster processing. For the 12%+ rate premium, Muthoot's convenience advantage is real but costly. For most urban and semi-urban borrowers with SBI branch access, the 3%+ rate saving with SBI is the financially superior choice.

Is SBI gold loan interest tax deductible?

Gold loan interest is NOT deductible under Section 24(b) (which requires the loan to be for home acquisition/construction) or Section 80C. However, if the gold loan proceeds are used for business purposes (working capital, inventory), the interest is deductible as a business expense under Section 37 of the Income Tax Act. For agriculture use, interest may qualify under income from agriculture provisions. Consult a qualified tax advisor for your specific use case.

Can I take multiple SBI gold loans simultaneously?

Yes — SBI allows multiple gold loan accounts against different batches of gold. However, the total aggregate exposure and individual branch limits may apply. For large gold holdings spread across multiple family members, individual loan accounts may be the most practical approach — each person pledges their own gold for separate loan accounts up to the ₹50 lakh per-account limit.

What is the difference between SBI gold loan and SBI Realty Gold Loan?

SBI Realty Gold Loan is a product where gold is pledged as collateral specifically for real estate purchases (plot or construction). The rate may differ from standard gold loans. Standard SBI Gold Loan is purpose-agnostic — you can use the proceeds for any financial need (medical, education, business, or personal). For most borrowers, the standard gold loan's flexibility makes it the default choice unless there is a specific real estate need that qualifies for the Realty scheme's terms.

Does SBI gold loan affect my credit score?

Timely repayment of SBI gold loans builds a positive repayment history on your CIBIL report — beneficial for future loan applications. Default, late payments, or NPA status will negatively impact the CIBIL score. Since gold is the collateral (not income or credit history), approval doesn't depend on a CIBIL score — but the repayment behaviour will be reported and reflected.