Deposit idle gold under the scheme to ensure safety and earn income from interest too.

Type of deposits

Under Gold Monetization Scheme, there are three types of deposits:

Short Term Bank Deposit (STBD)

  • The deposit under this category will be accepted by the designated branches for a short term period of 1-3 years (with a roll over in multiples of one year). Rate of Interest for STBD varies from 0.35% - 1% (depending on weight of gold).
  • No premature closure will be permitted till 1 year from the date of opening of gold deposit under the scheme. Penalty of 0.25% will be charged in case of premature withdrawal.
  • Redemption of principal and interest at maturity will be either in Indian Rupee or gold.

Medium and Long Term Government Deposit (MLTGD)

  • The deposit under this category will be accepted by the designated branches on behalf of the Central Government.
  • The deposit can be made for a period of 5-7 years in case of Medium Term Government Deposit (MTGD) @ 2.25% p.a. and 12-15 years in case of Long Term Government Deposit (LTGD) @ 2.50% p.a.
  • There is a minimum lock-in period of 3 years in MTGD and 5 years in LTGD. However, penalty of 0.25 % - 0.375% (depending on period) will be charged in case of premature withdrawal in both MTGD and LTGD.
  • The redemption of principal at maturity shall be either in Indian Rupee or in gold. However, the redemption of interest shall be in Indian Rupee only.


  • Earn Interest on Idle Gold Lying in your locker/house/trust
  • Save on Locker charges incurred on storing gold
  • 102 BOB Branches (PAN INDIA) are authorized to accept Gold deposit under Gold Monetization scheme, 2015
  • Check your Gold purity in your presence at our authorized CPTC Centre's


  • Resident Indians [Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations, Companies, charitable institutions, Central Government, State Government or any other entity owned by Central Government or State Government] can make deposits under the scheme.
  • Joint deposits of two or more eligible depositors are allowed and deposit in such case shall be credited to the joint deposit account opened in the name of such depositors. The existing rules regarding joint operation of bank deposit including nominations will be applicable to gold deposits.

****For more details, please visit Bank of Baroda GMS Authorised Branch .

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Select Government Deposit Schemes Type
  • E-Kisan Vikas Patra Scheme, 2014
  • Floating Rate Savings Bonds
  • Gold Monetization Scheme
  • Senior Citizen Savings Scheme
  • Sovereign Gold Bonds
  • Others

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