Manipur Rural Bank Gold Loan Per Gram

Manipur Rural Bank Gold Loan Per Gram is ₹ 2,900 to ₹ 3,450

The Manipur Rural Bank Gold Loan is a service that allows customers to apply for a gold loan using the gold they already own. The Manipur Rural Bank has many advantages, including a low-interest rate.

Gold Loan Calculator for Manipur Rural Bank

• Purity and net weight of gold used in jewellery: Gold used in jewellery should be between 18 and 24 carats pure. To calculate the net weight, Manipur Rural Bank will subtract the weight of gems and stones from the total weight of the jewellery. The appraiser will keep a record of his results.
• Manipur Rural Bank will multiply the purity and net weight of gold in your jewellery by the price of gold to determine its worth. The Reserve Bank of India has advised Indian banks to use the 30-day average price of 22-carat gold, adjusted for purity. Manipur Rural Bank can adjust the value of gold if it is 20-carat purity by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. You can also lookup the latest gold rate at Dialabank.
• Loan To Value – After determining the value of your jewellery, Manipur Rural Bank will use an LTV of up to 75 per cent to determine your jewel loan sum eligibility. Manipur Rural Bank will give you a lower interest rate if you are able to take a loan amount that is less than your maximum LTV.

Manipur Rural Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows an estimate of the gold loan per gram that Manipur Rural Bank will give against gold jewellery of various purity levels at a maximum LTV of 75% and a lower LTV of 65%.

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

Manipur Rural Bank Gold Loan Rates Per Gram

The following table shows Manipur Rural Bank Gold Loan Per Gram Rates – Mar 24 2023

Historical Gold Loan Rates Per Gram

India is one of the world’s largest gold purchasers. Gold is preferred by Indians because it is considered a “secure” investment. Investors keep a close eye on the markets for shifts in price that affect demand. Take a look at the following comprehensive historical gold loan rates per gram:

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to get the highest Gold Loan Amount Per Gram from Manipur Rural Bank

• For a gold loan, Manipur Rural Bank accepts both hallmarked and non-hallmarked jewellery. If you have hallmark jewellery, however, you can get the highest Manipur Rural Bank gold loan per gram because the valuer is less likely to undervalue it. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
• The Manipur Rural Bank Gold Loan Per Gram adjusts the price of 22-carat gold to account for purity. As a result, borrow against higher-purity jewellery if at all possible, as this will get you the most money for a gold loan.
• The net weight of your jewellery will be used by Manipur Rural Bank to determine the amount of gold loan you are eligible for.
  Choose jewellery with the fewest gems and stones as much as possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by the majority of banks. The net weight will be determined by Manipur Rural Bank’s gold valuer’s study. As more diamonds and stones are applied to a piece of jewellery, the total weight and value of the piece decrease, resulting in a lower jewel loan you are eligible for.
• On gold, it’s common to aim for the highest possible LTV. The RBI has given Manipur Rural Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.

ILLUSTRATION: The loan number is calculated using the purity of gold, the LTV, and the weight of gold. Assume Ajay, Abhishek, and Jyoti each own a different amount of gold with different purity levels. Ajay is in possession of 70 grammes of 18-carat gold. Jyoti possesses 50 grammes of 22-carat gold, while Abhishek possesses 60 grammes of 20-carat gold. They apply for a gold loan at Manipur Rural Bank. 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. Since she has the smallest gold weight of 50gm, Jyoti will receive the lowest gold loan rate of 2.27 lakh from Manipur Rural Bank.

Jyoti, who has the smallest gold weight of 50gm, will receive the lowest gold loan rate of 2.27 Lakh from Manipur Rural Bank, as seen in the example above. Since Ajay has the most gold weight, Manipur Rural Bank will give him the highest gold loan sum of Rs 2.60 lakh.