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    ICICI Agriculture Gold Loan

    ICICI Bank Agriculture Gold Loan Features and Benefits

    ICICI Agriculture Gold Loan Rate today Gold Loan Rate 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 ICICI Bank Agriculture Gold Loan is offered at an interest rate of 7% per annum, with only 1% of the principal amount paid as the processing fee for the loan. The loan tenure ranges from 3 months to a maximum of 10 months. The maximum amount that can be availed from this bank is Rs. 1 crore whereas the lowest amount one can avail is Rs. 10,000.

    ICICI Bank Agriculture Gold loan calculator 

    • Net weight and purity of the gold: the banks would do an assessment of your gold internally, to check for the purity and the net weight of the gold in your jewellery. The purity of the gold that is being pledged should range from 18 to 24 carats for you to be eligible to avail of a loan.
    • Price of the gold: after calculating the purity and the net weight of the gold in your jewellery, they would then calculate the actual value of your gold using the instructions that have been given out by RBI.
      ICICI Bank Agriculture Gold Loan
    • 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.

    ICICI Bank Agriculture Gold Loan Eligibility

    There are certain requirements that are required to be fulfilled to avail a agriculture gold loan:

    • The applicant should have attained at least 18 years of age
    • The individual should have his own gold ornaments or articles that can be pledged
    • The gold to be pledged should be 18 carats or above
    • The applicant should have a decent CIBIL score
    Bank Interest Rate Lowest EMI/lakh Eligible loan amount
    HDFC Gold loan 9.90% Rs. 4614 Rs 50 lakh for 24 months
    ICICI Bank 10% Rs. 8,792 Rs. 15 lakh for 12 months
    Axis Bank 15% Rs. 4,849 Rs. 20 lakh for 24 months
    Yes Bank 11.25% Rs. 3,286 Rs. 50 lakh for 36 months
    Muthoot Gold loan 12% Rs. 3321 Rs 1 cr. For 36 months
    Mannapuram Gold loan 12% Rs. 8,885 Rs 1 cr. For 12 months
    Canara Bank 7.65% Rs. 8,683 Rs. 10 lakh for 12 months
    IIFL 9.24% Rs. 9,516 Rs. 10 lakh for 11 months
    IndusInd 10.50% Rs. 8,815 Rs. 10 lakh for 12 months
    Andhra Bank 10.70% Rs. 8,824 Rs. 2 crores for 12 months
    Federal Bank 8.50% Rs. 8,722 Rs. 75 lakh for 12 months
    SBI Gold loan 7.50% Rs. 3111 20 lakh for 36 months

    Documents Required for ICICI Bank Agriculture Gold Loan

    Photographs 2 Passport-Sized photos, latest, coloured, clear, without spectacles
    Identity Proof 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 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)

    ICICI Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

    The table given below provides us with an approximate estimation of the gold loan per gram which ICICI Bank would be offering for gold jewellery with varying purity rates.

    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

    ICICI Bank Agriculture Gold Loan Interest Rates Per Gram

    The table gives us the ICICI Bank Gold Loan Rate Per Gram- Updated Jun 17 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 17 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 Rates Per Gram

    Being the largest consumers of gold in the world, having a great number of imports only of gold in the nation, it is this metal that almost every Indian believes is the safest form of investing their savings.

    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 Agriculture Gold Loan Per Gram Rate Comparison

    Feature
    HDFC Bank
    ICICI Bank
    Muthoot Finance
    Interest Rate
    9.90%
    10.50%
    12%
    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
    2500
    2600
    2700*

    Tips to Get The Highest Agriculture Gold Loan Amount from ICICI Bank

    • ICICI Bank accepts both hallmarked and non hallmarked jewellery for the availing of a gold loan. A higher loan amount can be achieved if hallmarked jewellery is pledged and not otherwise. Some banks are known for reducing the processing fees if hallmarked gold is pledged.
    • The bank would be asked to determine the value of the gold based on the purity determined by the internal test. Therefore it is very important to pledge gold of the highest purity to obtain a higher amount.
    • The ICICI Bank would calculate the total weight of the jewellery to calculate the amount that you would get as a loan. So, make sure you choose to pledge jewellery that has minimal stones and gems and more gold. This is because having more stones would reduce the weight of the gold present in the jewellery. Most of the diamond jewellery is usually made in 16-18 carat of gold and hence, would result in you availing a very low gold loan per gram.
    • Try your best to get the maximum LTV on the value for gold. The bank is allowed by the RBI to demand a maximum LTV of up to 75% to calculate the exact amount of gold loan that you would be eligible for.

    gold loan at 7%

    हिंदी में पढ़े | தமிழில் படியுங்கள்

    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 gram of gold with a purity of 18 carats. Mr B has 60 gram of gold with a purity of 20 carats and Mr C has 50 grams of gold with purity or 22 carats. They approach ICICI Bank to avail 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 and hence, will result in varying gold loan eligibility.