Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Deposit typeShort Term Bank Deposit under the RBI Gold Monetization Scheme, denominated in grams of 995-fineness goldView source
This record covers continuing bank-liability STBD component, not discontinued new mobilisations.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features of Short Term Bank Deposits
- Accessed
- 12 Aug 2026
- Confidence
- high
Eligible resident depositorsIndividuals, HUFs, proprietorship and partnership firms, eligible SEBI-registered trusts or funds, companies, charitable institutions and central or state government entitiesView source
Joint deposits by eligible depositors are permitted under current master direction.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Accepted goldRaw gold bars, coins or jewellery after excluding stones and other metalsView source
The credited quantity is based on assayed pure-gold content rather than gross jewellery weight.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features and Eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Gold quantityMinimum 10 grams of eligible raw gold; no maximumView source
Stones and other metals do not count toward the ten-gram minimum.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features — Deposit Quantity
- Accessed
- 12 Aug 2026
- Confidence
- high
STBD tenure1 to 3 years, including permissible broken periods under RBI rulesView source
page publishes the one-to-three-year range; permits broken periods within it.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features — Tenure
- Accessed
- 12 Aug 2026
- Confidence
- high
STBD interest rates0.50% p.a. for 1 year; 0.55% above 1 through 2 years; 0.60% above 2 through 3 yearsView source
Interest is calculated in rupees using the value of gold at deposit; the principal remains denominated in gold.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features — Rate of Interest (STBD)
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest payoutIn Indian rupees annually on 31 March, or cumulatively at maturityView source
The rupee interest treatment differs from the gold-denominated principal.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features — interest payment
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest start dateDate the deposited gold is converted into tradable bars after refining, or 30 days after receipt, whichever is earlierView source
Interest does not necessarily begin on the physical handover date.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features and Gold Deposit Certificate — Effective Date
- Accessed
- 12 Aug 2026
- Confidence
- high
Principal repaymentIrrevocable choice at deposit opening between gold or the maturity-date Indian-rupee equivalent of the deposited goldView source
The depositor selects the repayment mode at opening and cannot later change it under published terms.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features and Repayment — STBD
- Accessed
- 12 Aug 2026
- Confidence
- high
Premature repaymentAllowed after a one-year lock-in with penal interest; SBI does not quantify the penalty on the reviewed pageView source
Confirm the current penal-rate schedule with the authorised branch before depositing; no numeric penalty is inferred.
- Source
- Revamped Gold Deposit Scheme
- Page / section
- Features — Premature payment
- Accessed
- 12 Aug 2026
- Confidence
- high
Medium/long government-deposit statusNew deposits and renewals discontinued from 26 March 2025; existing MLTGD deposits continue under their original termsEffective 26 Mar 2025View source
page still contains legacy MTGD/LTGD repayment and historical-rate text; it is not presented as a live new-deposit option here.
- Source
- Gold Monetization Scheme Master Direction
- Page / section
- Definitions and paragraph 2.2 — discontinuation
- Accessed
- 12 Aug 2026
- Confidence
- high
Senior-citizen rateNot applicable: the reviewed scheme terms publish a scheme- or programme-specific rate and do not provide a separate senior-citizen rate for this product.View source
The full product terms and applicable rate routes were reviewed; no separate senior-citizen rate is published for these schemes/programmes.
- Source
- government and programme deposit scheme terms
- Page / section
- Scheme interest-rate and eligibility terms
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsIndividuals, HUFs, proprietorship and partnership firms, eligible SEBI-registered trusts or funds, companies, charitable institutions and central or state government entitiesView source
The manually reviewed product record states: “Individuals, , proprietorship and partnership firms, eligible -registered trusts or funds, companies, charitable institutions and central or state government entities”.
- Source
- Gold Monetisation Short Term Bank Deposit — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest payout / redemptionAnnual or cumulative interest optionView source
The manually reviewed product record states: “Annual or cumulative interest option”.
- Source
- Gold Monetisation Short Term Bank Deposit — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Minimum depositNew Medium and Long Term Government Deposits and their renewals were discontinued from 26 March 2025; this record covers Short Term Bank Deposits only.View source
The manually reviewed product record states: “New Medium and Long Term Government Deposits and their renewals were discontinued from 26 March 2025; this record covers Short Term Bank Deposits only.”.
- Source
- Gold Monetisation Short Term Bank Deposit — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Benefits and features
- Earn rupee interest on otherwise idle eligible gold
- Principal remains denominated in assayed gold
- No maximum gold quantity
- Annual or cumulative interest option
- Gold or rupee-equivalent maturity choice
- Premature repayment after one year
Eligibility
- Only resident eligible depositors may use the scheme.
- Jewellery stones and other metals are excluded before determining credited gold weight.
- Assaying and refining convert deposited articles into standard gold; customers should understand that the original jewellery is not returned.
- New Medium and Long Term Government Deposits and their renewals were discontinued from 26 March 2025; this record covers Short Term Bank Deposits only.
- The gold-or- principal repayment choice is irrevocable once selected.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- gold-deposit application
- Identity proof
- Address proof
- Inventory form describing tendered gold
- Entity and authority documents for a non-individual eligible depositor
Related official documents
RBI Gold Monetization Scheme Master Direction — Updated 25 March 2025rbi-master-direction · current · accessed 12 Aug 2026
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