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Gold Metal Loan


Gold Metal Loan (GML) is a mechanism under which a jewellery manufacturer borrows gold metal instead of rupees and settles the GML with the sale proceeds obtained. GML can be availed for 180 days in case of domestic jewellery manufacturers and for 270 days in case of exports.

Gems and Jewellery is one of the key industries in Indian market and ICICI Bank is one of the oldest key player nominated by the RBI for importing gold/ silver since 2002. ICICI Bank has extensive tie up with reputed bullion suppliers and logistics providers across the globe and is committed to the best pricing and quickest processing time.



GML is offered under following schemes

GML is offered under following schemes

  • Fixed-tenure: Loans with a fixed interest rate and a pre-determined fixed repayment date
  • Flexi tenure: Loans on a floating interest rate basis and the prepayment is permitted before the maturity of loan

Features and Benefits

  • Fulfills working capital requirement of jewellery manufacturers
  • Types of facilities available: Fixed term Gold Metal Loans and Gold Overdrafts
  • Upfront delivery of gold with flexibility of fixing the gold price within 180/270 days
  • Repayment of Gold Metal Loan in equivalent INR
  • Attractive interest rate
Features and Benefits



List of basic documents (not exhaustive)

  • Master Gold Facility Agreement
  • Letter authorising receipt of delivery of gold
  • Letter authorising fixing of price of gold
  • Debit authorisation letter for current account opened by borrower
  • Gold Purchase Facility application form
  • Application letter for placing Fixed Deposit (FD) (in case of FD backed GML)
  • Standby Letter of Credit (SBLC)/ Bank Guarantee in favour of ICICI Bank Limited by another bank

For more details, please fill in our Form here and our executive would get in touch with you within 1 working day.

For reference: RBI Master Circular- Loans and Advances – Statutory and Other Restrictions dated July 1, 2015 para 2.3.12 Gold (Metal) Loans.

FAQ's on Gold Metal Loan


To read more please Click here.