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    Karnataka Vikas Grameena Bank Agriculture Gold Loan

    Karnataka Vikas Grameena Bank Agriculture Gold Loan Features & Benefits

    Karnataka Vikas Grameena Gold Loan Interest Rate 7% per annum
    Karnataka Vikas Grameena  Gold Loan Per Gram Rate Per Gram is ₹ 3,506 to ₹ 4,621
    Karnataka Vikas Grameena Bank Gold Loan Collateral Gold ornaments
    Karnataka Vikas Grameena Bank Gold Loan per gram variable depending on the purity of gold
    Karnataka Vikas Grameena Bank Gold Loan Age of Borrower 18 – 70 years
    Karnataka Vikas Grameena Bank Gold Loan Maximum Loan Amount Up to 10 lakhs
    Karnataka Vikas Grameena Bank Gold Loan Maximum Loan to Gold Value Ratio Up to 70%, 90% in case of higher interest rates

    Karnataka Vikas Grameena Bank was founded on September 12, 2005, by a notification issued by the Government of India, which amalgamated four Regional Rural Banks funded by Syndicate Bank in Karnataka. Bijapur Grameena Bank, Malaprabha Grameena Bank, Netravati Grameena Bank, and Varada Grameena Bank are the merged former Grameena Banks. Bagalkot, Belgaum, Bijapur, Dakshin Kannada, Dharwad, Gadag, Haveri, Udupi, and Uttar Kannada are now served by a single body that caters to the financial needs of the residents in these districts.

    Karnataka Vikas Grameena Bank Agriculture Gold Loan Calculator

    • The purity and net weight of gold in your jewellery can be determined by an in-house bank surveyor. The jewellery must be made of gold that is 18 to 24 carats fine.
    • To calculate the relative weight, the bank will subtract the diamond and stone weights from the total weight of the jewellery.
    • To determine the worth of your jewellery, multiply the current gold price by the purity and net weight of gold in it.
    • The bank would calculate the loan balance based on a loan-to-value (LTV) of up to 75%.

    Karnataka Vikas Grameena Bank Agriculture Gold Loan Eligibility

    Salaried Individual Age – 21 years to 60 years
    Net Monthly Income – Minimum ₹ 20,000
    Employment Duration – 1-year minimum
    Income Eligibility – Based on Form 16 and salary slip
    Self-Employed Individuals Age – 21-65 years of age
    Minimum ITR  – Rs.2 lakh
    Employment Duration – Minimum 3 years
    Income Eligibility – Depends on the latest Income Tax Returns
    Self-Employed Non-Individuals (Company/Partnership) Minimum ITR  – Rs. 2 lakh
    Employment Duration – 3 years minimum
    The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
    Priority Customers At least 6-month vintage
    Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh

    Maximum Loan Amount –  3 times the Average Quarterly Balance of the last 2 Quarter

    Documents Required for Karnataka Vikas Grameena Bank Agriculture Gold Loan

    Category Documents Required
    Identity Proof

     

    (Any 1)

    Passport

    Voter ID

    Aadhar Card

    Driving License

    Address Proof

     

    (Any 1)

    Aadhar Card

    PAN

    Driving License

    Electricity Bill

    Date of Birth Proof

     

    (Any 1)

    Passport

    Birth Certificate

    High School Marksheet

    Driving Licence

    Signature Proof

     

    (Any 1)

    PAN

    Bankers Verification

    Passport

    Income Proof Salary Slip and latest Form No.16
    Bank Statement Last 6 month Bank statement
    Employment Continuity Proof

    Job card by NREGA

    ITR of Form no. 16

    Salary Slip mentioned with joining date

    Letter of Appointment

    Karnataka Vikas Grameena Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

    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

    Karnataka Vikas Grameena Bank Agriculture Gold Loan Interest Rates Per Gram

    The table given below shows the Agricultural Gold Loan Interest Rates Per Gram – Updated May 25 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 21 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

    The table below depicts the historical Gold Loan Rates Per Gram

    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
    9.50% onwards
    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
    3,066
    3,073
    3,073

    Tips to Get The Highest Agriculture Gold Loan Amount from Karnataka Vikas Grameena Bank

    • The bank supports both hallmarked and non-hallmarked jewellery for gold deposits.
    • On a gold loan, borrowing against higher purity jewellery would get you the most money.
    • The simplest jewels are preferred, with the fewest diamonds and crystals.
    • The Bank would not approve it if the gold used in the jewellery is less than 18-carat purity.
    • To facilitate the RBI in estimating the amount of gold debt you owe, the bank uses a net LTV of up to 75%.