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Gold Monetization Scheme 2026: Overview, Benefits, Eligibility & Application Process

The Gold Monetization Scheme (GMS) was launched by the Government of India in 2015 to encourage people to deposit their unused gold in banks and earn interest on it. Under this scheme, individuals, trusts, and institutions can deposit gold in the form of jewellery, coins, or bars with authorized banks. The deposited gold is melted and converted into standard gold, which can then be used by the government or banks. In return, the depositor receives interest and the gold is returned after maturity either in gold or cash equivalent. The scheme also helps reduce India's dependence on gold imports.

Gold Monetization Scheme

Overview for Gold Monetization Scheme 2026

  • Scheme Name: Gold Monetization Scheme (GMS)
  • Launched By: Government of India
  • Launch Year: 2015
  • Purpose: Use idle gold and reduce gold imports
  • Minimum Deposit: Usually 10 grams of gold
  • Eligible Depositors: Individuals, HUFs, trusts, and institutions
  • Deposit Form: Jewellery, coins, or gold bars
  • Interest: Earn interest on deposited gold
  • Official Website: dea.gov.in

Objectives for Gold Monetization Scheme 2026

Mobilize idle gold lying with households and institutions.
Reduce the need for importing gold.
Provide interest income to gold owners.
Strengthen the country' financial system.

Eligibility Criteria for GMS Scheme 2026

  • Indian residents can apply.
  • Individuals, HUFs, trusts, and institutions are eligible.
  • Gold jewellery, coins, or bars can be deposited.
  • Minimum gold deposit required is 10 grams.

Deposit Period for Gold Monetization Scheme 2026

Short Term Bank Deposit (STBD): 1-3 years
Medium Term Government Deposit (MTGD): 5-7 years
Long Term Government Deposit (LTGD): 12-15 years

Benefits for Gold Monetization Scheme 

Earn interest on idle gold.
Secure storage of gold.
Option to receive returns in cash or gold (depending on the type of deposit).
Helps reduce the burden of gold imports on the country.

Application Process for Gold Monetization Scheme 2026  

  1. Visit an authorized bank that offers this scheme.
  2. Take your gold jewelry, coins, or bars to a 'Collection and Purity Testing Centre' (CPTC).
  3. The purity of the gold will be tested there.
  4. If you agree with the results of the purity test, the gold will be melted down and deposited.
  5. The bank will issue you a Gold Deposit Certificate.
  6. You will begin earning interest on your deposited gold.

Required Documents for GMS Scheme 2026

  • Aadhaar Card
  • PAN Card
  • Address proof
  • Bank account details

Frequently Asked Questions (FAQ) for Gold Monetization Scheme 2026

Q1. What is the minimum gold required to deposit?

Answer: Minimum 10 grams of gold is required.

Q2. Can jewellery be deposited under the scheme?

Answer: Yes, jewellery, coins, and gold bars can be deposited.

Q3. Is interest paid on gold deposits?

Answer: Yes, depositors earn interest on their gold.

Q4. Can the deposited gold be withdrawn?

Answer: Yes, after maturity you can withdraw it in gold or cash.

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