Central Bank of India Gold Loan per Gram

Central Bank of India Gold Loan Per Gram Today is ₹ 3,800 to ₹ 4,350

The Bank issues a Central Bank of India Gold Loan per Gram of ₹ 3,800 to ₹ 4,350 in line with the current gold rate. The best Central Bank of India Gold Loan per gram rate is ₹ 3,506 to ₹ 4,621 for 22 Carat gold, measured at a maximum 75% loan to value.

Central Bank of India Gold Loan Calculator

• Net weight and purity of the gold: The banks use their in-house valuer to do a complete assessment of the purity and the total percentage and weight of gold in your jewellery. The gold used in the jewellery should be of purity of 18 to 24 carats if you want to avail of a loan. The bank also reduces the weight of gems and stones and only calculates the weight of the gold from that. 
• The price of the gold: After the lender makes an approximation about the purity and the total weight of the gold in your jewellery. RBI has given out instructions to the banks to keep in hand the past 30 days average price of 22-carat gold adjusted for the purity of gold.
• Loan to value ratio: After the value of the jewellery has been calculated, the bank would apply an LTV of up to 75% to make a total calculation of your jewel loan amount eligibility.

Central Bank of India Gold Loan Rate Per Gram by Gold Purity

The table below presents an approximate estimate of the gold loan per gram that the Central Bank of India is offering against the gold jewellery for the different purity levels.

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

Central Bank of India Gold Loan Rate Per Gram

The table given below shows the Central Bank of India’s Gold Loan Rate per Gram- updated Apr 18 2024

Historical Gold Loan Rate Per Gram

It is said that the Indians are known to be the world’s leading consumers of gold, and it is this precious metal that constitutes a large portion of our total imports. People in India tend to buy gold because they feel it is a safer investment. Therefore, the investors who study the markets are the ones that dictate the demand.

Major Banks’ Gold Loan Rate Per Gram Comparison

Tips to Get The Highest Gold Loan Amount from the Central Bank of India

• The Central Bank of India accepts hallmarked as well as non-hallmarked jewellery for getting a gold loan. However, the highest gold loan per gram is given to hallmarked jewellery and some banks even lower the processing fees for hallmarked jewellery.

• The Central Bank of India adjusts the price of the 22-carat gold for the sake of the purity of the gold. Therefore, always try and borrow against a higher purity jeweller as it would get you a higher loan amount for the gold that is being pledged.
• The Bank would calculate the net purity and total weight of the gold in the jewellery you have pledged. So always try and pledge jewellery that doesn’t have many gems and stones as this would reduce the amount that you get as a loan for the gold. This is because the gold loan is given for the gold alone and not for the stones in your jewellery.
• Always try to get the maximum LTV on the value of gold. Central Bank of India is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

ILLUSTRATION: The loan amount eligibility is decided on the basis of purity of gold, LTV and weight of gold. Suppose Mr A and his two friends Mr B and Mr C, own different amounts of gold with varying purity. Mr A has 70 grams of gold with a purity of 18 carats. Mr B has 60 grams of gold with a purity of 20 carats, and Mr C has 50 grams of gold with a purity of 22 carats. They approach the Central Bank of India to avail themselves of a gold loan.

The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 75% will vary by the purity of gold, resulting in varying gold loan eligibility.

Central Bank of India Gold Loan Per Gram FAQs

✅ What is Central Bank of India Gold Loan scheme?

Central Bank of India 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 all the leading banks and non-banking financial companies. The current rate for Central Bank of India Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Gold Loan can I get per gram?

The Gold Loan depends upon the purity of your gold. Central Bank of India Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

✅ How is Central Bank of India Gold Loan Per Gram calculated?

The Central Bank of India Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market gold rate. Central Bank of India 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.