KLM Gold Loan Per Gram

KLM Gold Loan Per Gram is ₹ 3,800 to ₹ 4,350

The KLM Gold Loan Rate Per Gram today is ₹ 3,800 to ₹ 4,350. The interest rate offered by this bank starts from 7%. The processing fee that the applicant would have to pay would range from 1.50% of the principal loan amount and can go higher as well, depending on the scheme. The loan tenure is from 3 months to 24 months, which is approximately 2 years. They offer various loan repayment schemes such as bullet repayment schemes and overdraft schemes. An individual can avail up to Rs. 1 crore with sufficient income proof in the gold loan offered by KLM.

Gold loan calculator KLM

• Net weight and purity of the gold: banks are typically known to use their in-house valuers to assess to check the purity and the net weight of the gold in your jewellery. The gold in the given jewellery should have a purity ranging from 18 to 24 carats if you want to avail of this loan. The bank themselves would reduce the weight of gems and stones in your jewellery and only calculated the net weight of gold present in the given jewellery.
• 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.
• The price of the gold: After making an approximation about the purity and calculating the net weight of the gold in your pledged jewellery. The Reserve Bank of India has given clear instructions to the banks to have a copy of the past 30 days average price of 22-carat gold, adjusted for the purity of the gold. Using this, the exact value of the gold that has been pledged is calculated.

KLM Gold Loan Rate Per Gram by Gold Purity

The following table gives an estimate of the gold loan per gram that KLM offers for gold jewellery with purity rates ranging from 65% to 75%.

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

KLM Gold Loan Rate Per Gram

The table that is given below shows the KLM Gold Loan Rate Per Gram- Updated Apr 26 2024

Historical Gold Loan Rates Per Gram

Historically, Indians are known to be the largest consumers of gold. Over the years, the trend still hasn’t changed. It has only continued to grow more and more to the point where it constitutes many imports to the country. Indians tend to believe that investing in gold is one of the safest investments they would make in their lifetime.

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to getting Best Gold Loan Amount Per Gram from KLM

• KLM accepts both hallmarked and non-hallmarked jewellery for the availing of a gold loan. However, the chances of availing of a higher loan amount are possible if hallmarked jewellery is pledged. Some banks will even reduce the processing fees if the same is pledged.
• The bank is then supposed to adjust the price of 22-carat gold for the purity of the gold. So try and make sure you try to borrow against higher purity jewellery as it would get you a higher loan amount.
• KLM would then calculate the total weight of your jewellery to verify the loan amount that you would get. Try and ensure that you pledge jewellery that has minimal stones and gems and has more gold. The higher the weight of the gold that is being pledged, the more the money that is availed as a gold loan.
• Always try to get the maximum LTV on the value of gold. KLM is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

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 purity or 22 carats. They approach KLM 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 and hence, will result in varying gold loan eligibility.

KLM Gold Loan Per Gram FAQs

✅ What is the KLM Gold Loan scheme?

KLM 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 KLM and other leading banks and non-banking financial companies. The current rate for KLM Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Gold Loan can I get per gram in KLM?

KLM Gold Loan Per Gram Depends upon the weight and purity of your gold. KLM Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

✅ How is KLM Gold Loan Per Gram calculated?

The KLM Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. KLM Gold Loan Per Gram interest rate is then calculated based on several factors: loan amount, loan tenure, relationship with the lender, and loan to value ratio.