Gold Monetisation Scheme

Quick steps for customer to enroll

ICICI Bank Account holders

  1. Walk-in to any of the designated branches with your gold. Fill in the GMS Application Form. Pick-up counterfoil from branch executive. Branch executive to guide you for our Refiner’s Purity Testing centre coordinates.
  2. Walk-in to the Refiner’s Purity Verification and testing Centre (PVC). Furnish the counterfoil. Tender the Gold and the same will undergo the assaying and melting process. PVC to give a deposit receipt containing the Gold quantity with purity 995.
  3. Submit the PVC’s receipt to the designated branch in person or through post, within 30 days.
  4. Branch to create gold deposit on 30th day from the date of receipt of gold at the PVC and issue a Gold deposit certificate giving gold quantity, purity, tenure, interest rate and maturity date.

ICICI Bank Non-Account holders

You will need to open a Savings / Current Account post which can follow the same process as done by Account holders.


Please note that the gold deposits will be accepted by bank only at the designated branches and deposits will be held on behalf of the Government under MTGD and LTGD category of deposits