You get interest on idle gold

Remember your gold in the locker fetches you nothing, while you can earn interest income on your idle gold. Under the SBI Gold Deposit scheme, interest is calculated in Gold currency and paid in equivalent rupees.

Tax benefits

If you have gold and jewellery up to a specified amount, you are liable to pay wealth tax. However, there is no wealth tax, capital gains tax or income tax payable on SBI Gold Deposit Schemes.

If prices of gold rise, you can stand to gain

When your gold deposit scheme matures, you get to redeem at the current rates, which means if gold prices rise, you stand to gain. Add to it the interest that you would not have got when the gold was in the locker.

Loan facility

You can avail of rupee loans at any branch of State Bank of India up to 75 per cent of the notional value of gold.

No locker costs and theft worries

You need not worry about locker costs to store your gold and jewellery and also there are no worries of theft. Certificates issued are extremely safe. 

No upper limit 

There is no upper limit on the deposit, while the minimum limit is of 500 grames.