Baroda UP Gramin Bank Gold Loan Per Gram

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Baroda UP Gramin Bank Gold Loan Per Gram

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

Baroda 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

 

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%.

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

Baroda UP Gramin Bank Gold Loan Rates Per Gram

The following table shows Baroda UP Gramin Bank Gold Loan Per Gram Rates – Jan 27 2023

Updated - Gold Loan Per Gram Rate w.e.f Jan 27 2023

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 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:

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 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.
  • Baroda UP Gramin Bank Gold Loan Per GramAccording 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.

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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.

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

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.