South Indian Bank Gold Loan

Loan Against Gold from South Indian Bank

One of the best gold loans to pare down your debt

South Indian Bank Personal Gold Loan

This scheme helps borrowers get financial assistance by pledging their gold jewellery to the bank. This loan can be used to meet any personal financial needs such as wedding expenses, overseas travel expenses, medical emergencies as well as to consolidate high-interest debts. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 10 crore.

Features of South Indian Bank Gold Loan – Personal Segment

Why this Loan?

  • The South Indian Bank Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery to meet their financial needs
  • This loan scheme can also be repurposed into a consolidation loan to pay off high-interest credit card debts and loans
  • This scheme is offered as a demand loan, overdraft and term loan

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 10 crore


  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor which depends on the repayment period of the loan. As of October 2020, the MCLR of SIB is 8.20% and the effective interest rate can range anywhere from 9.10% to 9.60%


  • This loan is repayable within 3 years


  • Borrowers should be above 18 years of age
  • Borrowers must be the true owners of the gold ornaments/jewellery

Security Needed

  • The bank accepts pledging of gold ornaments duly verified for quality and quantity to secure this loan

Processing Charges

  • The bank may charge up to 2.00% of the loan amount for processing this loan

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

Reference Facts

  • South Indian Bank Website:
  • Headquarters: Thrissur, Kerala
  • Call Centre Toll-free Number: 1800 425 1809, 1800 102 9408