Gramin Bank of Aryavart Agriculture Gold Loan

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    Gramin Bank of Aryavart Agriculture Gold Loan

    Gramin Bank of Aryavart Agriculture Gold Loan: Features and Benefits

    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
    Margin in Gold Loan for the Bank 25% of the gold ornament’s market value

    Gramin Bank of Aryavart Agriculture Gold Loan Calculator:

    By deducting the principal amount from the total amount due, you can determine the gold loan interest. In addition, an EMI calculator can be used to compute the total amount you’ll pay after the term.

    • Gramin Bank of Aryavart Agriculture Gold LoanWill determine the purity and net weight of gold in your jewellery. The gold used in jewellery should have a purity of 18 to 24 carats. The bank will subtract the weight of diamonds and stones from the net weight of jewellery to arrive at the net weight. The appraiser will document his findings in a report.
    • Gramin Bank of Aryavrat Agriculture Gold loan will calculate the value of gold by multiplying the purity and net weight of gold in your jewellery by the price of gold. The Reserve Bank of India has advised banks to use a 30-day average price of 22-carat gold that has been adjusted for purity.
    • Using their in-house valuer,  the Gramin Bank of Aryavart Agriculture Gold Loan will calculate the value of gold by multiplying the purity and net weight of gold in your jewellery by the price of gold.
    • Once the value of your jewellery has been assessed, Gramin bank of Aryavrat Agriculture gold loan will use an LTV of up to 75% to calculate your jewel loan amount eligibility.  Gramin Bank of Aryavrat Agriculture gold loan may be able to offer you a cheaper interest rate if you are ready to take a loan amount that is less than your maximum LTV.

     Gramin Bank of Aryavrat  Agriculture gold loan eligibility:

    Age 18-70 years of age
    Nationality Indian
    Employment Status Salaried, Self-Employed
    Gold Quality, Quantity
    Minimum 18 Carats, minimum 10 grams
    Requirements
    Gold ornaments (18-22 carats)
    CIBIL score Above 500

    Documents Required For Gramin Bank of Aryavart Agriculture Gold Loan:

    Photographs
    2 Passport-Sized photos, latest, coloured, clear, without spectacles
    Identity Proof (anyone)
    Passport: Valid Copy of passport both front and last page
    Voters ID card: Copy of Valid Voter Identity Card
    Driving License: Copy of Driving license, which is valid.
    Adhar card: Copy of Adhar Card with current information
    Residence Proof (anyone)
    Passport: Valid Copy of passport both front and last page
    Voters ID card: Copy of Valid Voter Identity Card
    Driving License: Copy of Driving license, which is valid.
    Adhar card: Copy of Adhar Card with current information
    Utility Bills on the name of the applicant.
    Sales Tax Certificate
    Rental Agreement
    Agricultural Land Proof
    Required only if the Loan is taken for Agricultural Purpose. In the case of an Agriculture Loan on the gold of more than Rs. 1 lakh, there is no requirement of proof for allied agriculture purposes.
    Demand Promissory Note
    Certificate by the Jewel Appraiser (Bank will arrange)

    Gramin Bank of Aryavart Agriculture Gold Loan Rate Per Gram by Gold Purity:

    Before considering a bank for a Gramin Bank of Aryavart Agriculture gold loan, you must first acquire purity because contemplating a gold loan is insufficient until and unless it is purely qualified to meet all obligations in the case of an unfavourable situation:

    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

    Gramin Bank of Aryavart Agriculture Gold Loan Interest Rates Per Gram:

    Updated - Gold Loan Per Gram Rate w.e.f Oct 04 2022

    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:

    History never denies the fact that Indian tradition and culture most valuable asset was gold.

    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

    Major Banks Agriculture Gold Loan Per Gram Rate 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 Agriculture Gold Loan Amount from Gramin Bank of Aryavart

    • For a gold loan, the Gramin bank of Aryavrat Agriculture Gold Loan will calculate the value of gold by multiplying the purity and net weight of gold in your jewellery by the price of gold. A bank accepts both hallmarked and non-hallmarked jewellery. However, for hallmark jewellery, you can get the most satisfactory Gramin Bank of Aryavart agricultural Gold loan because the valuer is less likely to undervalue it. Furthermore, some financial institutions charge a lower processing cost for hallmarked gold jewellery.
    • The agriculture gold loan from the Gramin Bank of Aryavart agriculture gold loan modifies the price of 22-carat gold to reflect the quality of the metal. As a result, wherever possible, take out a gold loan against higher-purity jewellery, as this will get you the most money.
    • Always aim for the highest possible LTV when playing gold. The Reserve Bank of India has given Gramin Bank of Aryavart agriculture gold loan authority to charge a maximum LTV of up to 75 per cent when calculating the amount of gold loan you are qualified for.

    Gramin Bank of Aryavart Agriculture Gold Loan FAQs

    What is the interest rate for Gramin Bank of Aryavart agriculture gold loan?

    Gramin Bank of Aryavart Agricultural Gold Loans starts at an interest rate of 7% per annum. For Gramin Bank of Aryavart Agricultural Gold Loan, you need agricultural land and cultivation and basic documents such as an Aadhaar Card/PAN Card.

    What is Gramin Bank of Aryavart Agri gold loan?

    Gramin Bank of Aryavart Agri Gold Loan is a loan against gold, particularly for farmers, that are available for agricultural purposes. The loan amount disbursed under the Gramin Bank of Aryavart Agri gold loan can only be used for agricultural and allied activities. One has to present the proof of agricultural land and cultivation along with the basic documents required for the Gramin Bank of Aryavart Agri Gold Loan.

     How to pay Gramin Bank of Aryavart Agriculture Gold Loan Online?

    You have an option to pay Gramin Bank of Aryavart Agriculture online through online repayment applications.

    Read More: Best Methods of Repaying Gold Loan