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Maharashtra Gramin Bank Gold Loan Per Gram

Maharashtra Gramin Bank Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621

Gold Loan Interest Rate 7% per annum
Gold Loan Rate Per Gram
Rate Per Gram is ₹ 3,506 to ₹ 4,621
Processing Fee
0.75% of the Principal Loan Amount
Maximum Loan Amount
Up to Rs. 1 Crore (With Income Proof)
Minimum Loan Amount
75% LTV
Gold Prepayment Charges
2%+GST (Within 3 Months), 0 (After 3 months)
Gold Repayment Tenure
Up to 36 Months
Gold Repayment Scheme
Bullet Payment Scheme, Overdraft Scheme

Maharashtra Gramin Bank is an Indian Regional Rural Bank or Gramin bank based in the Maharashtra state, with its headquarters in Aurangabad. The two RRBs, Aurangabad Jalna Gramin Bank and Thane Gramin Bank, were merged into a single RRB called Maharashtra Godavari Gramin Bank by the Government of India in a notification dated March 25, 2008. Furthermore, it is one of India’s 56 Gramin banks, which are government-supported and seek to introduce banking services to rural areas. Apart from that, the company’s branch network is located in six Maharashtra regions: Aurangabad, Beed, Latur, Nanded, Parbhani, and Thane. The Maharashtra Gramin Bank was established by the Bank of Maharashtra.

Gold Loan Calculator Maharashtra Gramin Bank

  • The purity and net weight of gold in your jewellery will be determined by the bank’s in-house quality surveyor. The gold used in the jewellery should be about 18 to 24 carats pure.
  • To adjust the value of gold, the bank will use a 30-day average of 22-carat gold multiplied by a factor of 20/22. You can also lookup the current gold price.
  • The bank will use an LTV of up to 75 per cent to calculate your jewel loan sum eligibility once the value of your jewellery has been determined.

Maharashtra Gramin Bank 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

The rates for a gold loan per gram are seen in the table above. And these differ depending on the gold’s carat.

Maharashtra Gramin Bank Gold Loan Rates Per Gram

Updated - Gold Loan Per Gram Rate w.e.f Jun 24 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

Indian gold buyers are among the world’s most involved, with the precious metal contributing for a significant portion of the total imports. Investors keep a close watch on the markets for shifts in price that affect demand.

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

Gold Loan Per Gram Rate Comparison for Major Banks

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 getting Best Gold Loan Amount Per Gram from Maharashtra Gramin BankMaharashtra Gramin Bank

  • The Bank supports both hallmarked and non-hallmarked jewellery for a gold loan.
  • Borrowing against higher purity jewellery would also get you much more money when it comes to a gold loan.
  • To calculate the amount of gold loan you are eligible for, the Bank will weigh the net weight of your jewellery.
  • The lower the net weight and value of a piece of jewellery, the lower the amount of jewel loan you are liable for.
  • On gold, it’s typical to look for the maximum possible LTV. When determining the amount of gold loan you are eligible for, the RBI allows the bank to charge a cumulative LTV of up to 75%.


gold loan

Example: The loan sum is determined by the purity of gold, the LTV, and the weight of gold. Assume Mr Ram and his two mates, Mr Kesav and Mr Ashwith, each own differing quantities of gold of various purity. Mr Ram owns 70 grammes of gold with an 18-carat purity. Mr Kesav has 60 grammes of gold that is 20 carats pure, while Mr Ashwith has 50 grammes of gold that is 22 carats pure. They apply for a gold loan. The price used to determine their gold loan sum eligibility based on a maximum LTV of 75% would vary depending on the purity of gold, resulting in different gold loan eligibility.

Carats / Weight Of Gold Gold Weight (In Gm) Purity Of Gold (In Carat) Gold Loan Eligibility
Mr Ram 70 18 ₹ 2.60 Lakhs
Mr Kesav 60 20 ₹ 2.48 Lakhs
Mr Ashwith 50 22 ₹ 2.27 Lakhs

Mr Ashwith, who has the smallest gold weight of 50gm, will receive the lowest gold loan rate of 2.27 Lakh from the Bank, as seen in the illustration above. Since Mr Ram has more gold weight, the Bank will give him the highest gold loan sum of Rs 2.60 lakh in the same example.