Silver loan in India: A new circular has been issued by the Reserve Bank of India (RBI). Under which you will now be able to take loan against gold as well as silver. There come such occasions in life when people need money immediately. On such occasions, people consider options ranging from personal loan to gold loan.

With this new step of RBI, now people will be able to get loan even from the silver kept at home and can fulfill their financial needs. Under the new rules of RBI, this facility will start from April 1, 2026. Let us know under which rules you can take silver loan.

Which institutions will give loans?

According to RBI, if you are also considering a silver loan, then many banks and financial institutions are going to provide this facility. Almost all commercial banks, including Small Finance Banks and Regional Rural Banks (RRBs).

Along with this, cooperative banks working in urban and rural areas will also provide silver loans. At the same time, non-banking financial companies (NBFC) and housing finance companies will also give silver loans to their customers.

How much silver can be mortgaged?

Talking about taking loan against silver pledge, customers cannot pledge more than 10 kg silver jewelery and 500 grams silver coins. RBI has fixed this figure. Whereas, if we talk about the loan amount, this amount will depend on the loan-to-value (LTV) ratio.

That is, how much loan can you take against the silver pledged by you. RBI has also made rules regarding pledging of gold. You cannot pledge more than 1 kilogram of gold jewelery and 50 grams of gold coins.

Also read: Gold Price Today: The shine of gold is continuously fading, know the latest rate of your city on 8th November.