Narmada Jhabua Grameen Bank Gold Loan Per Gram

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Narmada Jhabua Grameen Bank Gold Loan Per Gram

Narmada Jhabua Grameen Bank Gold Loan Per Gram is ₹ 2,900 to ₹ 3,450

Narmada Jhabua Grameen Bank Gold Loan Per Gram Today Gold Loan Rate Per Gram Today is ₹ 2,900 to ₹ 3,450
Eligible Age 18 to 75 years
Loan Amount Eligibility Rs. 1,000 to Rs. 2 Cr
Documents Required for Narmada Jhabua Grameen Bank Gold Loan Per Gram 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
Loan To Value 25% of the gold ornament’s market value

The Narmada Jhabua Grameen Bank Gold Loan Per Gram scheme allows customers to apply for a gold loan using their own gold. You can get a Narmada Jhabua Grameen Bank Gold Loan Per Gram ranging from ₹ 2,900 to ₹ 3,450 depending on the purity of the gold collateral, I.e. 18 carats, 20 carats and 22 carats. However, it also depends on the market price of the yellow metal.

Gold Loan Calculator for Narmada Jhabua Grameen Bank

Narmada Jhabua Grameen Bank Gold Loan Per Gram

  • Purity and net weight of gold used in jewellery: The purity and net weight of gold in your jewellery will be determined by the bank’s in-house valuer. The gold used in the jewellery should be between 18 and 24 carats pure. Jhabua Grameen Narmada To calculate the net weight, the bank will subtract the weight of gems and stones from the overall weight of the jewellery. The appraiser will keep a record of his results.
  • Narmada Jhabua Grameen Bank will multiply the purity and net weight of gold in your jewellery by the price of gold to determine the worth of gold. The banks are instructed to use the average price of 22-carat gold over the previous 30 days, adjusted for purity. So, if the gold is 20-carat purity, Narmada Jhabua Grameen Bank can change the value of gold by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. At Dialabank, you can also search the Gold Loan Rate Today.
  • Loan to Value Ratio: After determining the value of your jewellery, Narmada Jhabua Grameen Bank will apply an LTV of up to 75% to determine your jewel loan amount eligibility. Narmada Jhabua Grameen Bank will give you a lower interest rate if you are willing to take a loan amount that is less than your maximum LTV.

Narmada Jhabua Grameen Bank Gold Loan Rate Per Gram by Gold Purity

The table below illustrates how much the Narmada Jhabua Grameen Bank Gold Loan Per Gram can 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

Narmada Jhabua Grameen Bank Gold Loan Rates Per Gram

The following table shows Narmada Jhabua Grameen Bank Gold Loan Per Gram Rates – Jan 27 2023

Updated - Gold Loan Per Gram Rate w.e.f Jan 27 2023

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

India is one of the world’s largest gold buyers. Gold is preferred by Indians because it is considered a “secure” investment. Traders keep an eye on the markets for shifts in price that could impact demand. Let us look at the detailed historical gold loan rates per gram mentioned below:

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 get Best Gold Loan Amount Per Gram from Narmada Jhabua Grameen Bank

  • For a gold loan, Narmada Jhabua Grameen Bank embraces both hallmarked and non-hallmarked jewellery. However, for hallmark jewellery, you will get the highest gold loan per gramme because the valuer is less likely to undervalue it. Furthermore, some banks offer reduced transaction fees for hallmarked gold jewellery. In such a scenario, Narmada Jhabua Grameen Bank Gold Loan Per Gram is one of the best.
  • Narmada Jhabua Grameen Bank Gold Loan Per Gram adjusts the price of 22-carat gold to account for purity. As a result, always aim to borrow against jewellery of higher purity, as this will get you the most money for a gold loan.
  • Narmada Jhabua Grameen Bank will use the net weight of your jewellery to determine the amount of gold loan you are eligible for. Often choose jewellery with the fewest gems and stones possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by the majority of banks. To measure the net weight, Narmada Jhabua Grameen Bank will depend on his 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 amount of jewel loan you are eligible for. Narmada Jhabua Grameen Bank will not allow diamond jewellery if the gold used is less than 18-carat purity.
  • Often aim to get the highest possible LTV on gold. The RBI has given Narmada Jhabua Grameen Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.

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ILLUSTRATION: The loan sum is calculated using gold purity, LTV, and gold weight. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and a different degree of purity. Ajay is in possession of 70 grammes of 18-carat gold. Jyoti has 50 grammes of 22-carat gold, and Abhishek has 60 grammes of 20-carat gold. They apply for a gold loan at Narmada Jhabua Grameen 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.

Carats / Weight Of Gold Gold Weight (In Gm) Purity Of Gold (In Carat) Gold Loan Eligibility
Ajay 70 18 ₹ 2.60 Lakh
Abhishek 60 20 ₹ 2.48 Lakh
Jyoti 50 22 ₹ 2.27 Lakh

As shown in the example above, Jyoti, who has the smallest gold weight of 50gm, will earn the lowest gold loan rate of 2.27 Lakh from Narmada Jhabua Grameen Bank. Ajay will receive the highest gold loan amount of Rs 2.60 lakh from Narmada Jhabua Grameen Bank because he has the most gold weight.