SBI gold deposit scheme: Interest rate, tenure and other details

The State Bank of India (SBI) offers Revamped Gold Deposit Scheme (R-GDS), a fixed deposit scheme in gold.  According to SBI, Revamped Gold Deposit Scheme (R- GDS) is in the nature of a fixed deposit in gold. The customers can deposit their idle gold under R- GDS which will provide them safety, interest earnings and a lot more.

Here is all you need to know about SBI’s Revamped Gold Deposit Scheme (R-GDS):


Resident Indians of categories such as individuals, proprietorship and partnership firms, HUFs (Hindu Undivided Family), mutual funds/exchange-traded funds registered under Sebi (Securities and Exchange Board of India) and companies, charitable institutions or any other entity owned by Central Government or State Government are eligible to invest in SBI’s scheme.


One needs to deposit a minimum of 10 grams of raw gold (bars, coins, jewellery, excluding stones and other metals. However, there is no upper limit for deposits.

Type of deposits

SBI Revamped Gold Deposit Scheme (R-GDS) offers three types of deposits

Short Term Bank Deposit (STBD): Tenure 1 to 3 years.

Medium Term Government Deposit (MTGD): Tenure: 5-7 years.

Long Term Government Deposit (LTGD): Tenure 12-15 years.Rate

Rate of interest

The current interest rates are as under 

Rate of Interest (STBD)

For 1 year : 0.50% p.a.

Above 1 year up to 2 years : 0.55% p.a.

Above 2 years up to 3 years : 0.60% p.a.

Rate of interest on MTGD: 2.25% p.a.

Rate of interest on LTGD: 2.50% p.a.


STBD: Option to take repayment of principal either in gold or equivalent rupees as on the date of maturity.

MTGD & LTGD: Redemption of the deposit will be in Gold or Rupees equivalent to the value of gold as per the prevailing price of gold. However, 0.20% administrative charges will be levied in case of redemption in Gold.

Premature payment

STBD: Allowed after a lock-in period of 1 year with a penalty on the applicable interest rate.

MTGD: Allowed to withdraw any time after 3 years with a penalty on interest

LTGD: Allowed to withdraw any time after 5 years with a penalty on interest




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