Revamped Gold Deposit Scheme (R GDS)


Under SBI’s R-GDS, nomination facility is available for deposits in single names in individual capacity.

  • SBI (State Bank of India) offers a number of fixed deposit schemes.
  • A fixed deposit is a financial instrument provided by banks which provides investors a higher rate of interest than a regular savings account, until the given maturity date, as mentioned on the official website of SBI.
  • SBI offers Revamped Gold Deposit Scheme (R- GDS), which is in the nature of a fixed deposit in gold.

Revamped Gold Deposit Scheme (R- GDS)

  • The nature of a Revamped Gold Deposit Scheme (R- GDS) is in 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.
Main Features of the Scheme:


  • To mobilize the idle gold in the country and put it into productive use.

  • To provide the customers an opportunity to earn interest income on their idle gold holdings.

Persons Eligible to make a deposit

Resident Indians of the following categories:

  • Individuals, singly or jointly (as Former or Survivor)

  • Proprietorship & Partnership firms.

  • HUFs

  • Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations

  • Companies

Deposit Quantity

Minimum: 30 gms (gross)

Maximum: No Limit

Types of deposit

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

(ii) Medium Term Government Deposit (MTGD): Tenure: 5-7 years. The deposit will be accepted by the Bank on behalf of the Central Government.

(iii) Long Term Government Deposit (LTGD): Tenure 12-15 years. The deposit will be accepted by the Bank on behalf of the Central Government.

Rate of Interest & Payment

(i) STBD:
The current interest rates are as under: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.

STBD: Non-Cumulative (on 31st March) every year or Cumulative (On Maturity) interest on maturity. The principal and interest on STBD shall be denominated in gold. On maturity Interest for broken period will also be paid.

(ii) MTGD: 2.25% p.a.

(iii) MTGD: 2.50% pa.

In the case of MTGD & LTGD, the principal will be denominated in gold. However, the interest shall be paid in Rupees annually on 31st March or cumulative interest on maturity. Broken period interest is paid at the time of maturity. Interest is calculated on gold value in rupees, at the time of deposit.

Depositor will have option to receive payment of simple interest annually or cumulative interest (compounding annually) on maturity. The option to be exercised at the time of deposit.

Acceptance of gold

Gold is accepted in the form of raw gold i.e. Gold bars, Coins, Jewellery excluding stones and other metals. Customers to submit Application Form, Identification Proof, Address Proof and Inventory Form.

Issue of Gold Deposit Certificate


  • Gold Deposit Certificate will be issued by Nodal Branch (i.e. Bullion Branch, Mumbai).

  • The certificate will be issued for pure gold contents (i.e. in 995 fineness)

  • Gold Deposit Certificate (GDCs) will be sent to the depositor by Nodal Branch i.e. Bullion branch, Mumbai.


Effective Date

Interest on deposits under the scheme will start accruing from the date of conversion of gold deposited into tradable gold bars after refinement or 30 days after the receipt of gold whichever is earlier.

Nomination facility

Available for deposits in single names in individual capacity.


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 INR equivalent of the value of gold as per then 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 applicable interest rate.

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

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

Interest penalty for MTGD & LTGD will be as per RBI Notification dated 21.01.2016.

Authorised Branches

  • P B Branch, New Delhi

  • SME Branch Chandni Chowk, Delhi

  • Coimbatore Branch

  • Hyderabad Main Branch

  • Thyagarayanagar Branch, Chennai

  • Bullion Branch Mumbai

  • Bangalore Main Branch

Grievance Redressal Mechanism

Depositor to approach the Authorised Branch, where gold deposit has been made.
Interest rate on Gold Related Products for last 10 years (in %)

Gold Deposit Scheme


Scheme A (3 Year)


Scheme B (4 Year)

Scheme C (5 Year)


Revamped Gold Deposit Scheme


Scheme A (1 Year)

Scheme A (2 Year)


Scheme A (3 Year)

Scheme B (5-7 Years)

Scheme C (12-15 Years)



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