Local branch guidelines and valuation process — primary source for disbursal.
Daily price movement data helps predict LTV and timing.
Estimate value prior to visiting branch.
Model EMI and compare against personal loan options.
Protect pledged jewellery while under loan.
Compare non-bank gold loans for speed & LTV.
Safe transport for high-value gold if branch pickup arranged.
Keep schedule to avoid repossession.
Be aware of reporting for higher disbursals.
SBI helpline & branch Nodal officers for gold loan queries.
Gold loans are secured loans where bank lends a percentage (LTV) of current market value based on purity and weight. SBI typically offers conservative LTVs (eg 60–75%) depending on policy and ticket size. Gold loans are quick because valuation is straightforward and banks have standard processes for pledge and storage.
Minimal KYC (Aadhaar/PAN), jewellery, and bank details for payout. Processing is fast — many branches offer same-day disbursal for small/medium amounts. Insist on a detailed pledge receipt and periodic inventory checks if loan tenure is long.
Interest is typically lower than unsecured personal loans. Tenors are short (3–36 months commonly). Prepayment terms and foreclosure charges vary — check branch policy.
Compare gold loan vs personal loan vs loan against FD — secured vs unsecured trade-offs matter especially if you need long tenor versus speed.