Baroda UP Gramin Bank Gold Loan Per Gram

Baroda UP Gramin Bank Gold Loan Per Gram is ₹ 3,800 to ₹ 4,350

Customers may apply for a gold loan using the gold they already own through the Baroda UP Gramin Bank Gold Loan programme. The Baroda UP Gramin Bank has several benefits, one of which is a low-interest rate.

Gold Loan Calculator for Baroda 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. To calculate the net weight, the Baroda UP Gramin Bank will subtract the weight of gems and stones from the total weight of the jewellery. In a notebook, the appraiser will keep track of his results.
• To determine its worth, the purity and net weight of gold in your jewellery will be multiplied by the gold price at Baroda UP Gramin Bank. Indian banks have been advised to use the Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity. Baroda UP Bank will use the 30-day average of 22-carat gold multiplied by a factor of 20/22 to change the value of 20-carat gold.
• Loan To Value – After determining the value of your jewellery, Baroda UP Gramin Bank will use an LTV of up to 75% to determine your jewel loan amount eligibility. Baroda UP Bank will give you a lower interest rate if you can take a loan amount that is less than your maximum LTV.

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

The table below shows an estimation of Baroda UP Gramin Bank Gold Loan Per Gram would provide against gold jewellery of various purity levels at a maximum LTV of 75% and a lower LTV of 65%.

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

Baroda UP Gramin Bank Gold Loan Rates Per Gram

The following table shows Baroda UP Gramin Bank Gold Loan Per Gram Rates – Apr 25 2024

Historical Gold Loan Rates Per Gram

India is one of the world’s largest gold buyers. Indians prefer gold because it is considered a “secure” investment. Investors keep a close eye on the markets for shifts in price that impact demand. Take a look at the following comprehensive historical gold loan rates per gram:

Gold Loan Per Gram Rate Comparison for Major Banks

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

• For a gold loan, the Baroda UP Gramin Bank accepts both hallmarked and non-hallmarked jewellery. If you have hallmark jewellery, the appraiser is less likely to undervalue it, resulting in the best Baroda UP Gramin Bank gold loan per gramme. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
• In the price of 22-carat gold, the Baroda UP Gramin Bank Gold Loan Per Gram accounts for purity. As a result, to get the most money for a gold loan, borrow against higher-purity jewellery if at all necessary.
• According to Baroda UP Gramin Bank, the amount of gold loan you are liable for will be determined by the net weight of your jewellery. Choose jewellery with the fewest gems and stones as much as possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by Baroda UP Gramin Bank and other banks. An analysis by the gold valuers of the Baroda UP Gramin Bank will decide the net weight.
• In gold, it’s common practice to aim for the maximum possible LTV. The RBI has granted Baroda UP Gramin Bank permission to charge a maximum LTV of up to 75 per cent when calculating the amount of gold loan you are eligible for.

ILLUSTRATION: The sum of the loan is measured by the gold purity, the LTV, and the gold weight. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and a different degree of purity. Ajay owns 70 grammes of 18-carat gold. Jyoti has 50 grammes of 22-carat gold, and Abhishek has 60 grammes of 20-carat gold. They apply for a gold loan at the Baroda UP Gramin Bank. The price used to determine their gold loan sum eligibility based on a maximum LTV of 75% would vary depending on the purity of gold, resulting in different gold loan eligibility.

Jyoti, who has the smallest gold weight of 50gm, would receive the lowest gold loan rate of 2.27 Lakh from Baroda UP Gramin Bank, as seen in the example above. Since he has the most gold weight, Ajay will earn the highest gold loan sum of Rs 2.60 lakh from Baroda UP Gramin Bank.

Baroda UP Gramin Bank Gold Loan Per Gram FAQs

✅ What is Baroda UP Gramin Bank Gold Loan scheme?

Baroda 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 Baroda UP Gramin Bank and other leading banks and non-banking financial companies. The current rate for Baroda UP Gramin Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Gold Loan can I get per gram in Baroda UP Gramin Bank?

Baroda UP Gramin Bank Gold Loan Depends upon the purity of your gold. Baroda UP Gramin Bank Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

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

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