Central Bank of India Gold Loan per Gram

GET GOLD LOAN
AT LOWEST INTEREST RATE

⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.79% p.m.

    I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

    Central Bank of India Gold Loan per Gram

    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.  Central Bank of India Gold Loan per Gram
    • 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.

    • 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 Sep 25 2021

    Updated - Gold Loan Per Gram Rate w.e.f Sep 25 2021

    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 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

    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 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.

    gold loan

    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.