By Admin 
The Reserve Bank of India has recently announced the implementation of a new rule, giving great relief to the general public. According to RBI, now you will be able to take loan not only against gold but also against the silver kept at home. This facility will start from 1 April 2026. The implementation of this facility means that if you ever suddenly need money, be it for children’s education, investment in business or medical emergency, then instead of selling your silver jewelery or coins, you will be able to easily take a loan by mortgaging them. In such a situation, let us tell you today what is this rule of RBI regarding loan against silver and how much loan will you be able to take against silver.
Who will give loan against silver?
According to the RBI circular, almost all the major banks and financial institutions of the country will now start providing silver loan facility. In this, commercial banks, small finance banks, regional rural banks, urban and rural co-operative banks will give loans against silver. Apart from this, non-banking financial companies and housing finance companies are also involved in this. Its advantage will be that now every person from village to city will be able to get loan service easily and the general public will now be able to take loan against silver instead of gold.
How much silver will have to be pledged and how much loan will be given?
RBI has clearly set the rules for loan against silver. According to RBI, customers can take a loan by pledging a maximum of 10 kg of silver jewelery and 500 grams of silver coins. The banks will evaluate these jewelery and coins and decide the loan amount according to their current market value. This entire process will be based on loan to value ratio, which means that the loan will be given to you according to the value of the silver you pledge. According to reports, if you pledge silver up to Rs 2.5 lakh, you can get about 85 percent of its value as loan. At the same time, if the price of silver is up to Rs 5 lakh, then you will get up to 75 percent of the amount as loan. However, this facility will not be available on all types of silver. Loan cannot be taken against investment schemes like Silver Bricks, Silver ETF or Mutual Funds.
Rules for repaying loan and returning silver
According to the instructions of RBI, when the customer repays the entire loan amount, the bank or financial institution will have to return the silver within seven working days. If the bank or institution delays, then a fine of Rs 5000 per day can be imposed on it, whereas if the customer is unable to repay the loan on time, the bank will have the right to recover its amount by selling the pledged silver.
Who will benefit the most?
It is believed that small businessmen, farmers and housewives will benefit the most from this decision of RBI. At the same time, people who have silver jewelery or coins but are facing shortage of money will now be able to easily get a loan without selling them. With this, people living in rural and urban areas will be able to get financial help in emergency.
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