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    Allahabad UP Gramin Bank Agriculture Gold Loan

    Allahabad UP Gramin Bank Agriculture Gold Loan is ₹ 3,506 to ₹ 4,621

    Allahabad UP Gramin Bank Agriculture Gold Loan Today Gold Loan Rate Per Gram Today is ₹ 3,506 to ₹ 4,621
    Eligible Age 18 to 75 years
    Loan Amount Eligibility Rs. 1,000 to Rs. 2 Cr
    Documents Required Basic KYC documents for address and identity proof. No income documents and no CIBIL score documents are required.
    Purity of Gold 18 carat to 22 carat
    Type of Gold Gold jewellery and gold coins of 18-24 carats
    Margin in Gold Loan for the Bank 25% of the gold ornament’s market value

    Allahabad UP Gramin Bank Agriculture Gold Loan Calculator

    • Purity and net weight of gold used in jewellery: Gold used in jewellery should be between 18 and 24 carats pure. The appraiser is capable of keeping track of things.Allahabad UP Gramin Bank Agriculture Gold Loan
    • The purity and net weight of gold in your jewellery will be multiplied by the gold price at the bank to determine its worth. Indian banks have been advised to use the Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity. The sum of 20-carat gold compounded by a ratio of 20/22 will be multiplied by a 30-day average of 22-carat gold.
    • Allahabad UP Gramin Bank will use an LTV of up to 75 per cent to decide your eligibility for a jewel loan after calculating the value of your jewellery. If you take a loan sum that is less than your maximum LTV, Allahabad UP Gramin Bank would be able to give you a lower interest rate.

    Allahabad UP Gramin Bank Agriculture Gold Loan Loan Eligibility

    Salaried Individual Age – 21 years to 60 years
    Net Monthly Income – Minimum ₹ 20,000
    Employment Duration – 1-year minimum
    Income Eligibility – Based on Form 16 and salary slip
    Self-Employed Individuals Age – 21-65 years of age
    Minimum ITR  – Rs.2 lakh
    Employment Duration – Minimum 3 years
    Income Eligibility – Depends on the latest Income Tax Returns
    Self-Employed Non-Individuals (Company/Partnership) Minimum ITR  – Rs. 2 lakh
    Employment Duration – 3 years minimum
    The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
    Priority Customers At least 6-month vintage
    Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
    Maximum Loan Amount –  3 times the Average Quarterly Balance of the last 2 Quarter

    Documents Required for Allahabad UP Gramin Bank Agriculture Gold Loan

    Allahabad UP Gramin Bank Agriculture Gold Loan Documents for Salaried Individuals

    Category Documents Required
    Identity Proof Passport
    Voter ID
    Aadhar Card
    (Any 1) Driving License
    Address Proof Aadhar Card
    PAN
    Driving License
    (Any 1) Electricity Bill
    Date of Birth Proof Passport
    Birth Certificate
    High School Marksheet
    (Any 1) Driving Licence
    Signature Proof PAN
    Bankers Verification
    Passport
    (Any 1)
    Income Proof Salary Slip and latest Form No.16
    Bank Statement Last 6 month Bank statement
    Employment Continuity Proof Job card by NREGA
    ITR of Form no. 16
    Salary Slip mentioned with joining date
    Letter of Appointment

     

    Allahabad UP Gramin Bank Agriculture Gold Loan Documents for Self-Employed Individuals

    Category Documents Required
    Identity Proof (Any 1) PAN Card
    Passport
    Voter ID
    Aadhar Card
    Address Proof (Any 1) PAN Card
    Voter ID
    Passport
    Electricity Bill
    Date of Birth Proof (Any 1) Birth Certificate
    Passport
    Driving Licence
    PAN
    Signature Proof (Any 1) PAN
    Bankers Verification
    Passport
    Bank Statement Bank statement of last 6 months
    Employment Continuity Proof Latest ITRs
    Shop & Establishment Act Certificate
    Shop & Establishment Act Certificate
    Sales Tax or VAT Certificate
    Business Proof Registration Certificate
    Telephone Bill/Electricity Bill
    Shop & Establishment Act Certificate
    SSI or MSME Registration Certificate

    Allahabad UP Gramin Bank Agriculture Gold Loan Documents for Self-Employed Non-Individuals:

    Allahabad UP Gramin Bank Agriculture Gold Loan Documents for Partnership Firms/Societies

    Category Documents Required
    Identity Proof (Any 1) Driving Licence
    PAN Card
    Aadhar Card
    Passport
    Address Proof (Any 1) Electricity Bill/Telephone Bill
    Aadhar Card
    Driving License
    Voter ID
    Income Proof Audited Balance Sheet
    P&L Account
    ITR for the previous 2 years
    Bank Statement Last 6 month
    Business Continuity Proof Company ITR of the last 2 years
    Audited Balance Sheet
    TAX registration Certificate
    Current Account Statement
    Additional documents Letter of Authority or PAN Card

    Allahabad UP Gramin Bank Agriculture Gold Loan Documents for Private Limited/Limited Companies

    Category Documents Required
    Identity Proof The latest copy of MOA and AOA
    Copy of Incorporation
    Address Proof (Any 1) SSI/MSME Registration Certificate
    Telephone Bill
    Electricity Bill
    Shop & Establishment Act Certificate
    Sales Tax Certificate
    Income Proof Audited Balance Sheet
    P&L Account and ITR for the previous 2 years
    Bank Statement Previous 6 Months
    Business Continuity Proof P&L account and
    ITR of the Company of the past 2 years
    Audited Balance Sheet
    Shop & Establishment Act Certificate
    Additional documents
    List of Shareholding partners and Directors
    Board Resolution
    PAN Card
    Certificate of Commencement of Business for Ltd. Co

    Allahabad UP Gramin Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

    The table below shows how much an Allahabad UP Gramin Bank Agriculture Gold Loan will provide for various purity levels of gold jewellery at a higher LTV of 75% and a lower LTV of 65%.

    Gold Purity Gold Rate Per Gram- Average Of Past 30 Days Highest Gold Loan Per Gram Lowest Gold Loan Per Gram
    22 carat ₹ 4,620 ₹ 4,999 ₹ 4,956
    20 carat ₹ 3,939 ₹ 4,178 ₹ 3,795
    18 carat ₹ 3,545 ₹ 3,784 ₹ 3,460

    The above table shows the method by which Banks will calculate your per gram gold loan for gold of varying purity.

    • Gold loan per gram offer for 22-carat jewelry will be between ₹ 4,620 to ₹ 4,956
    • Gold loan per gram offer for 20-carat jewelry will be between ₹ 3,795 to ₹ 4,178
    • Gold loan per gram offer for 18-carat jewelry will be between ₹ 3,460 to ₹ 3,784

    Allahabad UP Gramin Bank Agriculture Gold Loan Interest Rates Per Gram

    The following table shows Allahabad UP Gramin Bank Agriculture Gold Loan Per Gram Rates – May 24 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 21 2021

    Gold Weight Gold Purity
    24 Carat
    Gold Purity
    22 Carat
    Gold Purity
    20 Carat
    Gold Purity
    18 Carat
    1 gram 4621 4290 3900 3510
    10 gram 46210 42900 39000 35100
    20 gram 93600 85800 78000 70200
    30 gram 140400 128700 117000 105300
    40 gram 187200 171600 156000 140400
    50 gram 234000 214500 195000 175500
    100 gram 468000 429000 390000 351000
    200 gram 936000 858000 780000 702000
    300 gram 1404000 1287000 1170000 1053000
    400 gram 1872000 1716000 1560000 1404000
    500 gram 2340000 2145000 1950000 1755000

    Historical Gold Loan Rates Per Gram

    Studying the gold rate trend in India will provide insight into potential volatility, allowing for more informed investment decisions. The gold rate is influenced by a number of factors, including the central bank’s stability, market supply and demand, quantitative easing, government reserves, the health of the jewellery industry, and total annual output, to name a few. Take a look at the following comprehensive historical gold loan rates per gram:

    This Table Contains the Average Annual Gold Rate from 1964 - 2021
    Year Price (24 karat per 10 grams) Year Price (24 karat per 10 grams)
    1964 ₹ 63.25 1993 ₹ 4,140.00
    1965 ₹ 71.75 1994 ₹ 4,598.00
    1966 ₹ 83.75 1995 ₹ 4,680.00
    1967 ₹ 102.50 1996 ₹ 5,160.00
    1968 ₹ 162.00 1997 ₹ 4,725.00
    1969 ₹ 176.00 1998 ₹ 4,045.00
    1970 ₹ 184.00 1999 ₹ 4,234.00
    1971 ₹ 193.00 2000 ₹ 4,400.00
    1972 ₹ 202.00 2001 ₹ 4,300.00
    1973 ₹ 278.50 2002 ₹ 4,990.00
    1974 ₹ 506.00 2003 ₹ 5,600.00
    1975 ₹ 540.00 2004 ₹ 5,850.00
    1976 ₹ 432.00 2005 ₹ 7,000.00
    1977 ₹ 486.00 2006 ₹ 8,400.00
    1978 ₹ 685.00 2007 ₹ 10,800.00
    1979 ₹ 937.00 2008 ₹ 12,500.00
    1980 ₹ 1,330.00 2009 ₹ 14,500.00
    1981 ₹ 1,800.00 2010 ₹ 18,500.00
    1982 ₹ 1,645.00 2011 ₹ 26,400.00
    1983 ₹ 1,800.00 2012 ₹ 31,050.00
    1984 ₹ 1,970.00 2013 ₹ 29,600.00
    1985 ₹ 2,130.00 2014 ₹ 28,006.50
    1986 ₹ 2,140.00 2015 ₹ 26,343.50
    1987 ₹ 2,570.00 2016 ₹ 28,623.50
    1988 ₹ 3,130.00 2017 ₹ 29,667.50
    1989 ₹ 3,140.00 2018 ₹ 31,438.00
    1990 ₹ 3,200.00 2019 ₹ 35,220.00
    1991 ₹ 3,466.00 2020 ₹ 48,651.00
    1992 ₹ 4,334.00 2021 ₹ 50,045.00

    Major Banks Agriculture Gold Loan Per Gram Rate Comparison

    Feature
    HDFC Bank
    ICICI Bank
    Muthoot Finance
    Interest Rate
    9.50% onwards
    10.50%
    12%
    Min Loan Amt
    Metro : 25000, Non : 15000
    25000
    15000
    Max Loan Amt
    1 Cr
    1 Cr
    1 Cr
    Loan Tenure
    3 months to 24 months
    9 months to 24 months
    1 month to 24 months
    Processing Fee
    0.25% to 1.50% of the Loan Amt
    0.25% to 1.50%
    Nil
    Preclosure Chgs
    2%, Nil foreclosure charges after 3 months
    2%, Nil foreclosure charges after 9 months
    Nil
    Overdraft Facility
    Yes
    Yes
    Yes
    Pay Only Interest Facility
    Yes
    Yes
    Yes
    Gold Rate Per Gram
    3,066
    3,073
    3,073

    Tips to Get The Highest Agriculture Gold Loan Amount from Allahabad UP Gramin Bank

    • The Allahabad UP Gramin Bank accepts both hallmarked and non-hallmarked jewellery for a gold loan. Since appraisers are less likely to undervalue hallmark jewellery, the Allahabad UP Gramin Bank Agriculture Gold Loan offers the best service. Furthermore, for hallmarked gold jewellery, certain financial institutions charge lower transaction fees.
    • The Allahabad UP Gramin Bank Agriculture Gold Loan accounts for purity in the price of 22-carat gold. As a result, if at all possible, borrow against higher-purity jewellery to get the most money for a gold loan.
    • According to Allahabad UP Gramin Bank, the amount of gold loan you are liable for is determined by the net weight of your jewellery. Choose jewellery with the fewest gems and stones as much as possible. The net weight can be calculated using gold exchange rates. As more diamonds and stones are applied to a piece of jewellery, the total weight and value of the piece decrease, resulting in a lower jewel loan you are eligible for.
    • It’s standard practice in gold to strive for the highest possible LTV. When calculating the amount of gold loan you are eligible for, the RBI has given Allahabad UP Gramin Bank permission to charge a maximum LTV of up to 75%.