Central Bank of India Gold Loan
Central Bank of India, a bank headquartered in Mumbai and established in 1911, offers a gold loan at a floating interest rate of 8.5%. The bank states no processing fee up to ₹5 lakh, and a 0.30%+GST fee above that, capped at ₹5,000, valid till 31.03.2027. An appraisal fee of 0.20% (minimum ₹100, maximum ₹3,000) applies to first-time loans, and 0.10% on renewal. No prepayment or foreclosure charges apply. Loan amounts range from ₹10,000 to ₹60 lakh, with a fixed tenure of 12 months.
Loan-to-value stands at 68% to 78%, with a margin of 22% to 32%. Up to 1,000g of jewellery or 50g of gold coins per person is accepted as collateral, under a bullet repayment scheme, and pledged gold is released within 7 working days of full repayment. Gold and jewellery trade professionals and their close relatives are excluded from eligibility. Minimum CIBIL score, age limits, minimum salary, employment type eligibility, and documentation requirements are not published for this product.
At 8.5%, Central Bank of India has one of the lowest starting rates of the 16 lenders we track for gold loans.
Eligibility
Loan terms
- Processing fee NIL up to ₹5L, 0.30%+GST above (max ₹5,000, valid till 31.03.2027)
- appraisal fee 0.20% (min ₹100, max ₹3,000) first-time, 0.10% for renewal
- NO prepayment/foreclosure charges
- LTV 68-78%, margin 22-32%
- max 1,000g jewellery / 50g coins per person
Documents
- PAN and Aadhaar
- Address proof
- The gold to be pledged
- Passport-size photograph
Fees & charges
FAQ
Up to 75% of the assessed gold value — the RBI loan-to-value cap. The rate depends on the lender and scheme, not your credit score.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.