SBI Gold Loan Interest Rate: Slab Pricing, Decoded

SBI prices gold loans across an indicative 8.75%–9.6% band — and the single biggest lever is how much of your gold's value you draw: lower LTV, lower rate. Per ₹1 lakh borrowed, the monthly interest runs from ₹729 at the floor to ₹800 at the top slab.

Indicative figures for comparison only. BankCreds is not a lender — the bank or NBFC’s current schedule and your Key Fact Statement are the binding numbers.

Why SBI quotes three different rates for one pledge

Think of SBI's 8.75%–9.6% spread as an LTV dial rather than a negotiation range: turn your drawdown lower and the rate follows, mechanically.

You draw (of value)Indicative rate*Monthly / ₹1 lakh
Up to ~55–60%8.75%₹729
~60–70%9.25%₹771
Max (75% cap)9.6%₹800

*Indicative framing of SBI's 8.75%–9.6% band; actual scheme boundaries vary. Verify at branch — the KFS binds.

Translate before you sign: at SBI's floor, every ₹1 lakh costs ₹729 a month; at its ceiling, ₹800. Across a ₹5 lakh pledge that's ₹355 of monthly difference for the same bangles.

Drawn@8.75%/mo@9.25%/mo@9.6%/mo
₹2 lakh ₹1,458 ₹1,542 ₹1,600
₹5 lakh ₹3,645 ₹3,855 ₹4,000
₹10 lakh ₹7,290 ₹7,710 ₹8,000

The ladder against neighbours

LenderFloorCeilingMonthly/₹1L at floor
SBI8.75%9.6%₹729
PNB 8.75% 9.25% ₹729
Indian Bank 8.8% 9.5% ₹733
Union Bank 8.65% 9.9% ₹721

Read floors against floors: a lender whose ceiling scares you may still hold the sharpest low-LTV slab. SBI's position above is one input; your appraisal and scheme pick decide the rest.

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SBI gold loan — FAQs

Why does SBI charge different gold-loan rates on different schemes?
Because LTV is priced: schemes advancing less against your gold (55–65% of value) carry more cushion for the lender, and that safety returns to you as a lower rate — while max-advance schemes (75%) price the thinner margin. At SBI the indicative spread runs 8.75% to 9.6%; picking the slab is picking your trade.
What does a SBI gold loan cost per month per ₹1 lakh?
Per lakh per month at SBI: ₹729 on the floor slab, ₹771 mid-board, ₹800 at the ceiling. A ₹3 lakh pledge therefore meters between ₹2,187 and ₹2,400 monthly — scheme choice is that gap.
Are SBI's advertised gold-loan rates guaranteed?
Treat 8.75%–9.6% as the honest map, not the contract: scheme, ticket size, tenure and payment-discipline conditions position you inside it. The binding number arrives on your Key Fact Statement before acceptance — read it against whatever the counter said aloud.
Can I move my gold loan from SBI to a cheaper lender later?
It's a normal move: settle SBI's outstanding, verify and collect your sealed packet, walk it to the cheaper counter. Plan the day so the gold is never uninsured in a drawer overnight, and let a multi-point rate gap — not a fraction — justify the fresh pledge costs.
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Disclaimer: BankCreds.com is a loan comparison platform and does not directly lend, disburse, or provide any financial products. We aggregate and display loan offers from RBI-registered banks and NBFCs to help you make an informed decision. All loan applications are processed directly by the respective lender. Interest rates, charges, eligibility, and terms shown are indicative and subject to the lender's final assessment. Please read the lender's terms and conditions carefully before applying.