Short answer: Both are banks with low gold loan rates. SBI publishes fixed card rates (9.15% for a 12-month bullet, 10.10% for EMI) and no foreclosure charge. HDFC Bank publishes the range it actually charged last quarter (9% to 19%, average 10.86%) and charges up to 2% if you close within 180 days.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
HDFC Bank Gold Loan vs SBI Gold Loan at a glance
| HDFC Bank Gold Loan | SBI Gold Loan | |
|---|---|---|
| Type | Private sector bank | Public sector bank |
| Loan amount | ₹25,000 to ₹3.5 crore (older product page) | ₹20,000 to ₹50 lakh (one FAQ says up to ₹1 crore) |
| Interest rate | 9% to 19% a year actually charged in Jan to Mar 2026 (average 10.86%); APR 9.01% to 19.08% | 9.15% (12-month bullet) to 10.10% (EMI and overdraft), as on 16 June 2026 |
| Loan-to-value (LTV) | Up to 75% of value (older product page) | Margin of 35% (bullet), 28% (EMI), 26% (overdraft), i.e. about 65% to 74% |
| Processing fee and charges | Up to 1% + tax; valuation ₹350 + tax up to ₹2 lakh | 0.25% to 0.50% (pages differ); 0.25% for ₹50,000 to ₹2 lakh, minimum ₹250 + GST |
| Tenure | 6 to 42 months (older product page) | 12 months (bullet); up to 36 months (EMI and overdraft) |
| Repayment options | Term loan or overdraft; interest monthly, principal at the end | EMI, 12-month bullet, overdraft (Liquid Gold Loan) |
| Gold accepted | Not stated | 22, 20 and 18 carat ornaments; bank-sold coins (no bars) |
| Closing early | 2% within 30 days, 1% from 31 to 180 days, nil after 180 days | No prepayment or foreclosure charge |
| Branches | HDFC Bank branches | SBI branch network |
| Online and doorstep | Apply online; gold valued at the branch | Apply online or via YONO; gold valued at the branch |
| Also worth knowing | Rates published as the actual range charged last quarter; Overdraft option | Lowest headline rate of the four; Income proof needed above ₹2.5 lakh (pages differ) |
RBI limits apply to every regulated lender: from April 2026, a gold loan for personal use can be at most 85% of the gold’s value up to ₹2.5 lakh, 80% from ₹2.5 lakh to ₹5 lakh and 75% above, with interest due at maturity counted for bullet loans. Lenders can lend less. Check how much your gold can raise with our gold loan calculator.
What a ₹1 lakh gold loan for 12 months would cost
We costed the same loan on each lender’s published rates, assuming you pay interest every month and repay the principal at the end. Paying interest less often, or compounding, raises the cost.
| Lender | Scenario | Rate a year | Interest for the year | Fees | Total cost |
|---|---|---|---|---|---|
| HDFC Bank Gold Loan | Low end of last quarter’s range, max fee | 9% | ₹9,000 | ₹1,593 | ₹10,593 |
| HDFC Bank Gold Loan | Average rate last quarter | 10.86% | ₹10,860 | ₹1,593 | ₹12,453 |
| SBI Gold Loan | 12-month bullet rate | 9.15% | ₹9,150 | ₹295 | ₹9,445 |
| SBI Gold Loan | EMI rate | 10.1% | ₹10,100 | ₹295 | ₹10,395 |
Key differences
- Rate: SBI 9.15% to 10.10%; HDFC Bank 9% to 19% (average 10.86%).
- Fee: SBI 0.25% to 0.50%; HDFC Bank up to 1% plus a valuation charge.
- Closing early: SBI nil; HDFC Bank 2% within 30 days, 1% to 180 days, nil after.
- Tenure: SBI 12 months (bullet) or up to 36 months; HDFC Bank 6 to 42 months.
Which should you choose?
HDFC Bank Gold Loan may suit you if you need a longer tenure or an overdraft.
SBI Gold Loan may suit you if you want a fixed published rate and may close the loan early.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Ask for the rate for your exact scheme and how often you must pay interest. Paying monthly is usually cheapest.
- Read the Key Fact Statement (KFS): it must show the APR, every charge and the total you will repay.
- Check the weight and purity recorded on your pledge receipt, and keep it safe.
- Know the auction rules: RBI requires notice before any auction, and the lender must return any surplus.
- Use our gold loan calculator to see the most you can borrow under RBI limits.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Which bank gold loan is cheapest?
Among the banks we checked, SBI publishes the lowest fixed rates. HDFC, ICICI and Federal Bank publish ranges that start near 8.5% to 9% but average about 11%.
Do banks lend as much per gram as NBFCs?
Often less. SBI keeps a margin of 26% to 35%. HDFC Bank’s older page says up to 75% of value. NBFCs can go up to RBI’s 85% for loans up to ₹2.5 lakh.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
Read more: Gold loan rates of 10 lenders · Gold loan calculator · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.