Central Bank of India Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621
|Central Bank of India 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||75% of the gold ornament’s market value|
The Bank issues a Central Bank of India Gold Loan per Gram of ₹ 3,506 to ₹ 4,621 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.
|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.
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 Sep 25 2021
Updated - Gold Loan Per Gram Rate w.e.f Sep 25 2021
|Gold Weight||Gold Purity
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.
|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|
Major Banks’ Gold Loan Rate Per Gram Comparison
Min Loan Amt
Metro : 25000, Non : 15000
Max Loan Amt
3 months to 24 months
9 months to 24 months
0.25% to 1.50% of the Loan Amt
0.25% to 1.50%
2%, Nil foreclosure charges after 3 months
2%, Nil foreclosure charges after 9 months
Pay Only Interest Facility
Gold Rate Per Gram
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.
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.
Table of Contents
- 1 Central Bank of India Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621
- 2 Central Bank of India Gold Loan Calculator
- 3 Central Bank of India Gold Loan Rate Per Gram by Gold Purity
- 4 Central Bank of India Gold Loan Rate Per Gram
- 5 Historical Gold Loan Rate Per Gram
- 6 Major Banks’ Gold Loan Rate Per Gram Comparison
- 7 Tips to Get The Highest Gold Loan Amount from the Central Bank of India
- 8 Central Bank of India Gold Loan Per Gram FAQs