Meghalaya Rural Bank Gold Loan Per Gram

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    Meghalaya Rural Bank Gold Loan Per Gram

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

    Gold Loan Interest Rate 7% per annum
    Gold Loan Rate Per Gram
    Rate Per Gram is ₹ 2,900 to ₹ 3,450
    Processing Fee
    0.85% 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 5 years

     

    Meghalaya Rural Bank Pension LoanOn January 27, 1982, Meghalaya Rural Bank was formed under Section 3 (1) of the RRB Act 1976. The Rural Bank is well aware of the critical position it plays in bolstering Meghalaya’s rural economy. Assist customers with their banking needs, encourage community development and participate in growth opportunities. Bank provides a wide selection of products at very low rates. You can apply online to receive financial services such as a Gold Loan in your village in order to get out of a bad financial situation.

    Gold Loan Calculator Meghalaya Rural Bank

    • The Bank’s in-house evaluator will determine the purity and net weight of gold in your jewellery. Then, the Bank will remove the weight of gems and stones from the total weight of the jewellery to calculate the net weight.
    • After determining the purity and net weight of gold in your jewellery, the valuer multiplies it by the current gold price to determine its value.
    • Once the value of your jewellery has been assessed, the Bank will use an LTV of up to 75% to estimate your jewel loan amount eligibility. If you are willing to take a loan sum less than your total LTV, they will be ready to offer you a lower interest rate.

    Meghalaya Rural 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 gold loan values per gram are seen in the table above. And these are different depending on the carat of gold.

    Meghalaya Rural Bank Gold Loan Rates Per Gram

    Updated - Gold Loan Per Gram Rate w.e.f Jun 25 2022

    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

    Gold consumers in India are among the most active in the world, with this precious metal responsible for a large portion of the overall imports. Investors continue to focus on the markets for price changes that have an influence on the stock.

    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)
    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

    Gold Loan Per Gram Rate Comparison for Major Banks

    Feature HDFC Bank SBI
    Muthoot Finance
    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
    1 month 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 getting Best Gold Loan Amount Per Gram from Meghalaya Rural Bank

    • The Bank supports both hallmarked and non-hallmarked jewellery for a gold loan.
    • On the other hand, some banks charge lower transaction rates for hallmarked gold jewellery.
    • Borrowing a loan for higher purity jewellery will also fetch you the highest money when considering a gold loan.
    • Jewels with the fewest diamonds and stones available are preferred. The majority of banks will exclude the weight of gems and stones from the average weight of the jewellery.
    • The Bank will not authorize it if the gold used in the jewellery is less than 18-carat purity.
    • The RBI helps the Bank to calculate the amount of gold loan you owe by using a cumulative LTV of up to 75%.

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    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.

    Meghalaya Rural Bank Gold Loan Per Gram FAQs

    ✅ What is the Meghalaya Rural Bank Gold Loan scheme?

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

     How much Gold Loan can I get per gram in Meghalaya Rural Bank?

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

    ✅ How is Meghalaya Rural Bank Gold Loan Per Gram calculated?

    The Meghalaya Rural Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. Meghalaya Rural Bank 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.