Paschim Banga Gramin Bank Gold Loan Per Gram

AT 0.49%* INTEREST RATE
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Paschim Banga Gramin Bank Gold Loan Per Gram

Paschim Banga Gramin Bank Gold Loan Per Gram is ₹ 2,900 to ₹ 3,450

Paschim Banga Gramin 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 Paschim Banga Gramin 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 Paschim Banga Gramin Bank Gold Loan Per Gram scheme allows customers to apply for a gold loan using their own gold. The Paschim Banga Gramin Bank offers a variety of advantages, including a low interest rate.

Gold Loan Calculator for Paschim Banga Gramin Bank

  • Paschim Banga Gramin Bank Gold Loan Per GramTo calculate its value, the purity and net weight of gold in your jewellery will be multiplied by the gold price at Paschim Banga Gramin Bank Gold Loan Per Gram. The Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity, has been recommended to Indian banks. A factor of 20/22, multiplied by a 30-day average of 22-carat gold, will be applied to the amount of 20-carat gold. You can also lookup the latest gold rate at Dialabank.
  • Loan To Value – Paschim Banga Gramin Bank will use an LTV of up to 75% to decide your eligibility for a jewel loan after calculating the value of your jewellery. If you can take a loan sum that is less than your maximum LTV, Paschim Banga Gramin Bank will give you a lower interest rate.
  • Purity and net weight of gold used in jewellery: Gold should be between 18 and 24 carats pure to be used in jewellery. The net weight of the gold loan per gramme is calculated at Paschim Banga Gramin Bank by subtracting the weight of gems and stones from the total weight of the jewellery. All can be kept track of by the appraiser.

Paschim Banga Gramin Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows how much the Paschim Banga Gramin Bank Gold Loan Per Gram will provide for different 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

Paschim Banga Gramin Bank Gold Loan Rates Per Gram

The following table shows Paschim Banga Gramin 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 a major gold buyer in the world. Indians prefer gold because it is regarded as a “secure” investment. Traders keep an eye on the markets for price changes that could have an impact on demand. Take a look at the following comprehensive 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)
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
ICICI 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 Gold Loan Amount Per Gram from Paschim Banga Gramin Bank

  • The Paschim Banga Gramin Bank accepts both hallmarked and non-hallmarked jewellery for a gold loan. Since appraisers are less likely to undervalue hallmark jewellery, the Paschim Banga Gramin Bank Gold Loan Per Gram gives you the best service. Furthermore, for hallmarked gold jewellery, certain financial institutions charge lower transaction fees.
  • The Paschim Banga Gramin Bank Gold Loan Per Gram accounts for purity in the price of 22-carat gold. As a result, if at all possible, borrow against higher-purity jewellery to get the most money for a gold loan.
  • The net weight of your jewellery determines the amount of gold loan you are liable for, according to Paschim Banga Gramin Bank. As much as possible, choose jewellery with the fewest gems and stones. Using the gold values at the Bank, the net weight can be measured. 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.
  • It’s standard practice in gold to strive for the highest possible LTV. When calculating the amount of gold loan you are eligible for, the RBI has given Paschim Banga Gramin Bank permission to charge a maximum LTV of up to 75%.

GOLD LOAN @ 0.49%*

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ILLUSTRATION: Gold purity, LTV, and gold weight are used to measure the loan amount. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and purity level. Ajay has 70 grammes of 18-carat gold in his possession. Abhishek has 60 grammes of 20-carat gold, while Jyoti has 50 grammes of 22-carat gold. They apply for a gold loan at the Gramin Bank in Paschim Banga. Depending on the purity of gold, the price used to assess their gold loan amount eligibility based on a maximum LTV of 75% will vary, 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 Paschim Banga Gramin Bank. Ajay will receive the highest gold loan amount of Rs 2.60 lakh from Paschim Banga Gramin Bank because he has the most gold weight.

Paschim Banga Gramin Bank Gold Loan Per Gram FAQs

✅ What is the Paschim Banga Gramin Bank Gold Loan Per Gram scheme?

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

 How much Gold Loan can I get per gram in Paschim Banga Gramin Bank Gold Loan Per Gram?

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

✅ How is Paschim Banga Gramin Bank Gold Loan Per Gram calculated?

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