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    Allahabad UP Gramin Bank Gold Loan Per Gram

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

    Allahabad UP Gramin Bank Gold Loan Per Gram 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
    Loan To Value 25% of the gold ornament’s market value

     

    The Allahabad UP Gramin Bank Gold Loan is a service that allows customers to apply for a gold loan using the gold they already own. The Allahabad UP Gramin Bank has many advantages, including a low-interest rate.

    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 jewellery. The Allahabad UP Gramin Bank will deduct the weight of gems and stones 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 price of gold at Allahabad UP Gramin Bank to calculate its value. The Reserve Bank of India has advised Indian 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 lookup 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% 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 Gold Loan Rates Per Gram

    The following table shows Allahabad UP Gramin Bank Gold Loan Per Gram Rates – Jun 21 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

    India is one of the world’s biggest buyers of gold. Indians prefer gold because it is regarded as a “secure” investment. Investors keep a close eye on the markets for price changes that have an effect on demand. 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

    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%.


    gold loan at 7%

    हिंदी में पढ़े | தமிழில் படியுங்கள்

     

    ILLUSTRATION: The loan amount is determined by the purity of gold, the LTV, and the gold weight. Assume that of of Ajay, Abhishek, and Jyoti has a different amount of gold and purity level. Ajay has 70 grammes of 18-carat gold in his possession. Abhishek has 60 grammes of 20-carat gold, while Jyoti 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
    Ajay 70 18 ₹ 2.60 Lakh
    Abhishek 60 20 ₹ 2.48 Lakh
    Jyoti 50 22 ₹ 2.27 Lakh

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