Barclays Bank Gold Loan Per Gram

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    Barclays Bank Gold Loan Per Gram

    Barclays Bank Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450

    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 jewelry and gold coins of 18-24 carats
    Margin in Gold Loan for the Bank 25% of the gold ornament’s market value

    Gold Loan Calculator Barclays Bank

    • Purity and net weight of gold used in jewellery: The bank will analyse the purity and net weight of gold in your jewellery using their in-house valuer. The gold used in the jewellery should be 18 to 24 carats pure. In order to compute the net weight of jewellery, Barclays Bank will subtract the weight of diamonds and stones. The appraiser will write up his findings.
    • Price of Gold: Barclays Bank will multiply the purity and net weight of gold in your jewellery by the price of gold to compute the value of gold. The Reserve Bank of India has directed banks to use the average price of 22 carat gold over the previous 30 days, adjusted for purity. So, if the gold is 20 carat purity, Barclays Bank will alter the value of gold by using the 30-day average of 22 carat gold multiplied by a factor of 20/22.
    • Loan to Worth Ratio: After determining the value of your jewels, Barclays Bank will apply an LTV of up to 75% to determine your gold loan amount eligibility. Barclays Bank may offer you a cheaper interest rate on the gold lean if you are ready to take a loan amount that is less than your maximum LTV.

    Check the current gold rate with Dialabank.

    Barclays Gold Loan Rate Per Gram by Gold Purity

    According to current gold rates, Indian banks offer gold loans at a rate of ₹ 2,900 to ₹ 3,450. Barclays Bank Gold Loan Per Gram Rate Today is ₹ 2,900 to ₹ 3,450 for 22-carat adornments measured at the best LTV of 90%, and normal gold loan costs for the most recent 30 days in 2020 are ₹ 2,900 to ₹ 3,450 for 22 carats.

    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

    Barclays Bank Gold Loan Rates Per Gram

    Today’s gold price is influenced by a variety of factors such as demand and supply, global market conditions, and the strength of the US dollar, among others. Furthermore, the price of gold varies by city across India. Taxes, demand, carriage, local associations, as well as other factors have an impact on the gold price in different cities.

    Updated - Gold Loan Per Gram Rate w.e.f Jun 30 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

    The table shows that, except for a few lows between some years, the gold price trend has historically been on the rise, lending credence to the argument that gold is a safe investment over long periods.

    Check out today’s gold rate in India as well.

    Gold Loan Per Gram Rate Comparison for Major Banks

    Feature HDFC Bank SBI
    Muthoot Finance
    Interest Rate 9.90% onwards 7% onwards 12% onwards
    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
    Pre-closure Charges 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 3066 3073 3073

    Tips to Get Best Gold Loan Amount Per Gram from Barclays Bank

    • For a gold loan, Barclays Bank accepts both hallmarked as well as non-hallmarked jewellery. However, you can get the highest Barclays Bank gold loan per gram for hallmark jewellery because it reduces the chances of the appraiser undervaluing it.
    • The price of 22-carat gold is adjusted by Barclays Bank based on the purity of the gold. As a result, always try to borrow against higher purity jewellery because it will get you the most money for a gold loan.
    • Always seek for the greatest LTV on the value of gold. The RBI allows Barclays Bank to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

    Gold Loan News

    • What is a Sovereign Gold Bond (SGB)? Who issues these bonds?

    Government securities denominated in grams of gold are known as SGBs. They serve as a substitute for physical gold. Investors must pay the issue price in cash, and the bonds must be redeemed in cash when they reach maturity. The Reserve Bank of India issues the bond on behalf of the Government of India.

    • Gold pledging is on the rise as household stress rises.

    According to Reserve Bank data, people are increasingly turning to gold and personal loans to cover basic expenses and medical emergencies.