Meghalaya Rural Bank Agriculture Gold Loan

AT 0.75%* INTEREST RATE
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Meghalaya Rural Bank Agriculture Gold Loan

Meghalaya Rural Bank Agriculture Gold Loan Today is ₹ 3,800 to ₹ 4,350

Meghalaya Rural Bank Interest Rate 7% per annum
Meghalaya Rural Bank Gold loan Per Gram Rate Per Gram is ₹ 3,800 to ₹ 4,350
Meghalaya Rural Bank Processing Fee 0.75% of the Principal Loan Amount
Meghalaya Rural Bank Maximum Loan Amount Up to Rs. 1 Crore (With Income Proof)
Meghalaya Rural Bank Minimum Loan Amount 75% LTV
Meghalaya Rural Bank Gold Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
Meghalaya Rural Bank Gold Repayment Tenure Up to 36 Months

On January 27, 1982, Meghalaya Rural Bank was established under Section 3 (1) of the RRB Act 1976. The Rural Bank is well aware of the critical position it plays in boosting Meghalaya’s rural economy. They assist customers with their financial needs, encourage community development and participate in growth opportunities. Bank has a wide range of products at very low rates. Apply online to receive financial services such as a Gold Loan in your village and get out of a financial bind.

Meghalaya Rural Bank Agriculture Gold Loan Calculator

  • An in-house bank analyst will evaluate the purity and net weight of gold in your jewellery. Fine gold, ranging from 18 to 24 carats, must be used in the jewellery.
  • The bank will deduct the diamond and stone weights from the total weight of the jewellery to calculate the precise weight.
  • Multiply the current gold price by the purity and net weight of gold in your jewellery to calculate its value.
  • The loan balance will be calculated using a loan-to-value (LTV) of up to 75%.

Meghalaya Rural Bank Agriculture Gold Loan Eligibility

There are certain requirements that are required to be fulfilled to avail a agriculture gold loan:

  • The applicant should have attained at least 18 years of age
  • The individual should have his own gold ornaments or articles that can be pledged
  • The gold to be pledged should be 18 carats or above
  • The applicant should have a decent CIBIL score
Bank Interest Rate Lowest EMI/lakh Eligible loan amount
HDFC Gold loan 9.90% Rs. 4614 Rs 50 lakh for 24 months
Private Bank 10% Rs. 8,792 Rs. 15 lakh for 12 months
Axis Bank 15% Rs. 4,849 Rs. 20 lakh for 24 months
Yes Bank 11.25% Rs. 3,286 Rs. 50 lakh for 36 months
Muthoot Gold loan 12% Rs. 3321 Rs 1 cr. For 36 months
Mannapuram Gold loan 12% Rs. 8,885 Rs 1 cr. For 12 months
Canara Bank 7.65% Rs. 8,683 Rs. 10 lakh for 12 months
IIFL 9.24% Rs. 9,516 Rs. 10 lakh for 11 months
IndusInd 10.50% Rs. 8,815 Rs. 10 lakh for 12 months
Andhra Bank 10.70% Rs. 8,824 Rs. 2 crores for 12 months
Federal Bank 8.50% Rs. 8,722 Rs. 75 lakh for 12 months
SBI Gold loan 7.50% Rs. 3111 20 lakh for 36 months

Documents Required for Meghalaya Rural Bank Agriculture Gold Loan

Photographs 2 Passport-Sized photos, latest, coloured, clear, without spectacles
Identity Proof Passport: Valid Copy of passport both front and last page
Voters ID card: Copy of Valid Voter Identity Card
Driving License: Copy of Driving license which is valid.
Adhar card: Copy of Adhar Card with current information
Residence Proof Passport: Valid Copy of passport both front and last page
Voters ID card: Copy of Valid Voter Identity Card
Driving License: Copy of Driving license which is valid.
Adhar card: Copy of Adhar Card with current information
Utility Bills on the name of the applicant.
Sales Tax Certificate
Rental Agreement
Agricultural Land Proof Required only if the Loan is taken for Agricultural Purpose. In the case of an Agriculture Loan on the gold of more than Rs. 1 lakh there is no requirement of proof for allied agriculture purposes.
Demand Promissory Note Certificate by the Jewel Appraiser (Bank will arrange)

Meghalaya Rural 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

Meghalaya Rural 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 Mar 29 2024

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 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
Private 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 Get The Highest Agriculture Gold Loan Amount from Meghalaya Rural Bank

  • For gold loans, the bank accepts both hallmarked and non-hallmarked jewellery.
  • Borrowing against higher-purity jewellery would give you the best return on your gold loan.
  • Fewer diamonds and crystals are favourable for pieces of gold jewellery.
  • If the gold used in the jewellery is less than 18-carat purity, the Bank will not allow it.
  • By using a net LTV of up to 75 per cent, the Reserve Bank of India (RBI) makes it easy for the bank to determine the amount of gold debt you owe.