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    Mizoram Rural Bank Agriculture Gold Loan

    Mizoram Rural Bank Agriculture Gold Loan is ₹ 3,506 to ₹ 4,621

    Mizoram Rural Bank Agriculture Gold Loan Today Gold Loan Rate Per Gram Today is ₹ 3,506 to ₹ 4,621
    Eligible Age 18 to 75 years
    Loan Amount Eligibility Rs. 1,000 to Rs. 2 Cr
    Documents Required Basic KYC documents for address and identity proof. No income documents and no CIBIL score documents are required.
    Purity of Gold 18 carat to 22 carat
    Type of Gold Gold jewellery and gold coins of 18-24 carats
    Margin in Gold Loan for the Bank 25% of the gold ornament’s market value

    Mizoram Rural Bank Agriculture Gold Loan Calculator

    • Purity and net weight of gold used in jewellery: The purity of the gold used in jewellery should be between 18 and 24 carats. The appraiser has the ability to keep track of anything.Mizoram Rural Bank Agriculture Gold Loan
    • To calculate its value, the purity and net weight of gold in your jewellery will be multiplied by the gold price at the bank. The Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity, has been recommended to Indian banks. A 30-day total of 22-carat gold will be multiplied by the amount of 20-carat gold compounded by a 20/22 ratio.
    • After determining the value of your jewellery, Mizoram Rural Bank will use an LTV of up to 75% to determine your eligibility for a jewel loan. Mizoram Rural Bank might be able to give you a lower interest rate if you take a loan amount that is less than your maximum LTV.

    Mizoram Rural Bank Agriculture Gold Loan Loan Eligibility

    Salaried Individual Age – 21 years to 60 years
    Net Monthly Income – Minimum ₹ 20,000
    Employment Duration – 1-year minimum
    Income Eligibility – Based on Form 16 and salary slip
    Self-Employed Individuals Age – 21-65 years of age
    Minimum ITR  – Rs.2 lakh
    Employment Duration – Minimum 3 years
    Income Eligibility – Depends on the latest Income Tax Returns
    Self-Employed Non-Individuals (Company/Partnership) Minimum ITR  – Rs. 2 lakh
    Employment Duration – 3 years minimum
    The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
    Priority Customers At least 6-month vintage
    Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh
    Maximum Loan Amount –  3 times the Average Quarterly Balance of the last 2 Quarter

    Documents Required for Mizoram Rural Bank Agriculture Gold Loan

    Mizoram Rural Bank Agriculture Gold Loan Documents for Salaried Individuals

    Category Documents Required
    Identity Proof Passport
    Voter ID
    Aadhar Card
    (Any 1) Driving License
    Address Proof Aadhar Card
    PAN
    Driving License
    (Any 1) Electricity Bill
    Date of Birth Proof Passport
    Birth Certificate
    High School Marksheet
    (Any 1) Driving Licence
    Signature Proof PAN
    Bankers Verification
    Passport
    (Any 1)
    Income Proof Salary Slip and latest Form No.16
    Bank Statement Last 6 month Bank statement
    Employment Continuity Proof Job card by NREGA
    ITR of Form no. 16
    Salary Slip mentioned with joining date
    Letter of Appointment

     

    Mizoram Rural Bank Agriculture Gold Loan Documents for Self-Employed Individuals

    Category Documents Required
    Identity Proof (Any 1) PAN Card
    Passport
    Voter ID
    Aadhar Card
    Address Proof (Any 1) PAN Card
    Voter ID
    Passport
    Electricity Bill
    Date of Birth Proof (Any 1) Birth Certificate
    Passport
    Driving Licence
    PAN
    Signature Proof (Any 1) PAN
    Bankers Verification
    Passport
    Bank Statement Bank statement of last 6 months
    Employment Continuity Proof Latest ITRs
    Shop & Establishment Act Certificate
    Shop & Establishment Act Certificate
    Sales Tax or VAT Certificate
    Business Proof Registration Certificate
    Telephone Bill/Electricity Bill
    Shop & Establishment Act Certificate
    SSI or MSME Registration Certificate

    Mizoram Rural Bank Agriculture Gold Loan Documents for Self-Employed Non-Individuals:

    Mizoram Rural Bank Agriculture Gold Loan Documents for Partnership Firms/Societies

    Category Documents Required
    Identity Proof (Any 1) Driving Licence
    PAN Card
    Aadhar Card
    Passport
    Address Proof (Any 1) Electricity Bill/Telephone Bill
    Aadhar Card
    Driving License
    Voter ID
    Income Proof Audited Balance Sheet
    P&L Account
    ITR for the previous 2 years
    Bank Statement Last 6 month
    Business Continuity Proof Company ITR of the last 2 years
    Audited Balance Sheet
    TAX registration Certificate
    Current Account Statement
    Additional documents Letter of Authority or PAN Card

    Mizoram Rural Bank Agriculture Gold Loan Documents for Private Limited/Limited Companies

    Category Documents Required
    Identity Proof The latest copy of MOA and AOA
    Copy of Incorporation
    Address Proof (Any 1) SSI/MSME Registration Certificate
    Telephone Bill
    Electricity Bill
    Shop & Establishment Act Certificate
    Sales Tax Certificate
    Income Proof Audited Balance Sheet
    P&L Account and ITR for the previous 2 years
    Bank Statement Previous 6 Months
    Business Continuity Proof P&L account and
    ITR of the Company of the past 2 years
    Audited Balance Sheet
    Shop & Establishment Act Certificate
    Additional documents
    List of Shareholding partners and Directors
    Board Resolution
    PAN Card
    Certificate of Commencement of Business for Ltd. Co

    Mizoram Rural Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

    The table below shows how much a Mizoram Rural Bank Agriculture Gold Loan will provide for various purity levels of gold jewellery at a higher LTV of 75% and a lower LTV of 65%.

    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

    Mizoram Rural Bank Agriculture Gold Loan Interest Rates Per Gram

    The following table shows Mizoram Rural Bank Agriculture Gold Loan Per Gram Rates – May 24 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 16 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

    Insight into possible volatility can be gained by studying the gold rate trend in India, allowing for more informed investment decisions. The central bank’s stability, market supply and demand, quantitative easing, government reserves, the health of the jewellery industry, and total annual production, to name a few, all influence the gold rate. Take a look at the following comprehensive historical gold loan rates per gram:

    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

    Major Banks Agriculture Gold Loan Per Gram Rate Comparison

    Feature
    HDFC Bank
    ICICI Bank
    Muthoot Finance
    Interest Rate
    9.50% onwards
    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
    3,066
    3,073
    3,073

    Tips to Get The Highest Agriculture Gold Loan Amount from Mizoram Rural Bank

    • For a gold loan, the Mizoram Rural Bank accepts both hallmarked and non-hallmarked jewellery. The Mizoram Rural Bank Agriculture Gold Loan provides the best service because appraisers are less likely to undervalue hallmark jewellery. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
    • The purity of 22-carat gold is factored into the Mizoram Rural Bank Agriculture Gold Loan. As a result, to get the most money for a gold loan, borrow against higher-purity jewellery if at all necessary.
    • The net weight of your jewellery determines the amount of gold loan you are liable for, according to Mizoram Rural Bank. As much as possible, choose jewellery with the fewest gems and stones. Gold exchange rates can be used to measure the net weight. The overall weight and value of a piece of jewellery decrease as more diamonds and stones are added, resulting in a lower jewel loan you are eligible for.
    • In gold, it’s common practice to aim for the maximum possible LTV. The RBI has granted Mizoram Rural Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.