Allahabad UP Gramin Bank Gold Loan Per Gram

AT 0.49%* INTEREST RATE
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    Allahabad UP Gramin Bank Gold Loan Per Gram

    Allahabad UP Gramin Bank Gold Loan Per Gram is ₹ 2,900 to ₹ 3,450

    Allahabad UP Gramin Bank Gold Loan Per Gram Today Gold Loan Rate Per Gram Today is ₹ 2,900 to ₹ 3,450
    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
    Loan To Value 25% of the gold ornament’s market value

    Gold Loan Calculator for Allahabad UP Gramin Bank

    • Purity and net weight of gold used in jewellery: Gold should be between 18 and 24 carats pure when used in Allahabad UP Gramin Bank. The weight of gems and stones will be subtracted by Allahabad UP Gramin Bank from the overall weight of the jewellery to determine the net weight. The appraiser will keep track of his findings in a notebook.
    • The purity and net weight of gold in your jewellery will be compounded by the current price of gold at Allahabad UP Gramin Bank to calculate its value. The Reserve Bank of India has advised Allahabad UP Gramin Bank and other banks to use the Reserve Bank of India’s 30-day average price of 22-carat gold, adjusted for purity. Allahabad UP Bank will adjust the value of 20-carat gold by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. You can also look up the latest gold rate at Dialabank.
    • Loan To Value – Allahabad UP Gramin Bank will use an LTV of up to 75% to decide your jewel loan amount eligibility after calculating the value of your jewellery. If you can take a loan sum that is less than your maximum LTV, Allahabad UP Bank will give you a lower interest rate.

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

    The table below shows an estimate of the gold loan per gramme that Allahabad UP Gramin Bank will provide against gold jewellery of various purity levels at a maximum LTV of 75%.

    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 Gold Loan Rates Per Gram

    The following table shows Allahabad UP Gramin Bank Gold Loan Per Gram Rates – Jun 25 2022

    Updated - Gold Loan Per Gram Rate w.e.f Jun 25 2022

    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

    This Table Contains the Average Annual Gold Rate from 1965 - 2022
    Year Price (24 karat per 10 grams) Year Price (24 karat per 10 grams)
    2022 ₹ 52,950 1993 ₹ 4,140
    2021 ₹ 50,045 1992 ₹ 4,334
    2020 ₹ 48,651 1991 ₹ 3,466
    2019 ₹ 35,220 1990 ₹ 3,200
    2018 ₹ 31,438 1989 ₹ 3,140
    2017 ₹ 29,667 1988 ₹ 3,130
    2016 ₹ 28,623 1987 ₹ 2,570
    2015 ₹ 26,343 1986 ₹ 2,140
    2014 ₹ 28,006 1985 ₹ 2,130
    2013 ₹ 29,600 1984 ₹ 1,970
    2012 ₹ 31,050 1983 ₹ 1,800
    2011 ₹ 26,400 1982 ₹ 1,645
    2010 ₹ 18,500 1981 ₹ 1,800
    2009 ₹ 14,500 1980 ₹ 1,330
    2008 ₹ 12,500 1979 ₹ 937
    2007 ₹ 10,800 1978 ₹ 685
    2006 ₹ 8,400 1977 ₹ 486
    2005 ₹ 7,000 1976 ₹ 432
    2004 ₹ 5,850 1975 ₹ 540
    2003 ₹ 5,600 1974 ₹ 506
    2002 ₹ 4,990 1973 ₹ 279
    2001 ₹ 4,300 1972 ₹ 202
    2000 ₹ 4,400 1971 ₹ 193
    1999 ₹ 4,234 1970 ₹ 184
    1998 ₹ 4,045 1969 ₹ 176
    1997 ₹ 4,725 1968 ₹ 162
    1996 ₹ 5,160 1967 ₹ 103
    1995 ₹ 4,680 1966 ₹ 84
    1994 ₹ 4,598 1965 ₹ 72

    Gold Loan Per Gram Rate Comparison for Major Banks

    Feature
    Manappuram
    Axis Bank
    Yes Finance
    Interest Rate
    9.90%
    12.50%
    9.99%
    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
    3,124
    3,073
    3,069

    Tips to get the highest Gold Loan Amount Per Gram from Allahabad UP Gramin Bank

    • Allahabad UP Gramin Bank accepts both hallmarked and non-hallmarked jewellery for a gold loan. If you have hallmark jewellery, the valuer is less likely to undervalue it, so you’ll get the best Allahabad UP Gramin Bank gold loan per gram. Furthermore, for hallmarked gold jewellery, certain financial institutions charge lower transaction fees.
    • The Allahabad UP Gramin Bank Gold Loan Per Gram 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.
    • Allahabad UP Gramin Bank Gold Loan Per GramAllahabad UP Gramin Bank will assess the amount of gold loan you are liable for based on the net weight of your jewellery. As much as possible, choose jewellery with the fewest gems and stones. The net weight will be determined by an examination performed by the gold valuers of Allahabad UP Gramin Bank. The overall weight and value of a piece of jewellery decrease as more diamonds and stones are added, 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%.

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    ILLUSTRATION: The loan amount is determined by the purity of gold, the LTV, and the gold weight. Assume that Krishna, Jay, and Meena has a different amount of gold and purity level. Krishna has 70 grammes of 18-carat gold in his possession. Jay has 60 grammes of 20-carat gold, while Meena has 50 grammes of 22-carat gold. They apply at Allahabad UP Gramin Bank for a gold loan. Depending on the purity of gold, the price used to assess their gold loan amount eligibility based on a maximum LTV of 75% will vary, resulting in different gold loan eligibility.

    Carats / Weight Of Gold Gold Weight (In Gm) Purity Of Gold (In Carat) Gold Loan Eligibility
    Krishna 70 18 ₹ 2.60 Lakh
    Jay 60 20 ₹ 2.48 Lakh
    Meena 50 22 ₹ 2.27 Lakh

    As shown in the example above, Meena, who has the smallest gold weight of 50gm, will earn the lowest gold loan rate of 2.27 Lakh from Allahabad UP Gramin Bank. Krishna will receive the highest gold loan amount of Rs 2.60 lakh from Allahabad UP Gramin Bank because he has the most gold weight.

    Allahabad UP Gramin Bank Gold Loan Per Gram FAQs

    ✅ What is Allahabad UP Gramin Bank Gold Loan scheme?

    Allahabad UP Gramin Bank gold loan is a scheme that provides a loan against your gold. Any person in need of quick lump sum money can avail of this facility that is offered by Allahabad UP Gramin Bank and other leading banks and non-banking financial companies. The current rate for Allahabad UP Gramin Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

    How much Allahabad UP Gramin Bank Gold Loan Per Gram can I get?

    The Allahabad UP Gramin Bank Gold Loan Per Gram depends upon the purity of your gold. Currently, the Allahabad UP Gramin Bank Gold Loan Per Gram is between ₹ 3,506 to ₹ 4,621.

    ✅ How is Allahabad UP Gramin Bank Gold Loan Per Gram calculated?

    The Allahabad UP Gramin Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market gold rate. Allahabad UP Gramin Bank Gold Loan Per Gram rate of interest is then calculated based upon a number of factors, including loan amount, loan tenure, relationship with the lender, and loan to value ratio.