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Gold Loan Calc

SBI vs HDFC Gold Loan Comparison

TL;DR — AI Summary

SBI gold loan charges 7.30–9.80% interest with 75% LTV and 0.50% processing fee. HDFC gold loan charges 10.50–16.50% with 75% LTV and 1.50% processing fee. For a ₹1,00,000 loan over 12 months, SBI EMI is ₹8,698 (total cost ₹1,04,870) while HDFC EMI is ₹8,838 (total cost ₹1,07,556). SBI is cheaper by ₹2,686 in total cost. This calculator compares both side-by-side in real-time.

Compare Borrowing Costs Side-by-Side

Standard

Total Cost Savings with SBI

₹0

SBI saves you more money due to lower interest rates and modest processing fees.

Cheapest Option
SBI

State Bank of India

Public Sector Lender • Floating Rate (8.65% avg)

Eligible Loan (75% LTV)-
Interest Rate8.65% p.a.
Monthly EMI-
Total Interest-
Processing Fee (0.50% + GST)-
Appraiser / Valuation Fee₹0 (Included)
Net Disbursed Cash-
Total Cost of Borrowing-
HDFC

HDFC Bank

Private Lender • Fixed Rate (11.50% avg)

Eligible Loan (75% LTV)-
Interest Rate11.50% p.a.
Monthly EMI-
Total Interest-
Processing Fee (1.50% + GST)-
Valuation Fee₹500 + GST
Net Disbursed Cash-
Total Cost of Borrowing-

How Do SBI and HDFC Gold Loan Interest Rates Compare?

SBI offers India's most competitive retail gold loan rates starting at 7.30% for agriculture purposes and 8.65% for personal emergency loans. HDFC Bank starts gold loans at approximately 10.50% up to 16.50%.

SBI rates are floating and pegged to its Repo Linked Lending Rate (RLLR), meaning interest decreases when the RBI cuts repo rates. HDFC rates are typically fixed for the duration of the 6–12 month tenure.

Disbursement Speed & Convenience: Which Should You Pick?

While SBI is significantly cheaper in total interest and processing fees, HDFC Bank provides faster turnaround times (often within 45–60 minutes for existing account holders) and streamlined digital repayment interfaces. If saving money is your priority, SBI is the clear winner.

Frequently Asked Questions

Which is cheaper: SBI or HDFC gold loan?+

SBI is consistently cheaper with interest rates starting at 8.65% vs HDFC's 11.50%, along with lower processing charges (0.50% vs 1.50%).

Does HDFC give more loan per gram than SBI?+

Both banks are mandated by the Reserve Bank of India to cap loan-to-value at 75%. The exact loan amount is comparable, though valuation assay methods can result in minor differences.

Is there a prepayment penalty for SBI gold loan?+

No, SBI charges zero foreclosure and prepayment penalties on floating-rate retail gold loans.

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