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 ₹ 3,800 to ₹ 4,350 |
| 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
The above table shows the method by which Banks will calculate your per gram gold loan for gold of varying 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
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 Apr 19 2024
Gold Weight
Gold Purity
24 CaratGold Purity
22 CaratGold Purity
20 CaratGold 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 1965 - 2022
Year
Price (24 karat per 10 grams)
Year
Price (24 karat per 10 grams)
2023
₹ 54,699
1994
₹ 4,598
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
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
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 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%.
