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    Prathama Bank Gold Loan Per Gram

    Prathama Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621

    Prathama Bank Gold Loan Per Gram 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
    Loan To Value 25% of the gold ornament’s market value

     

    The Prathama Bank Gold Loan is a service offered by the bank that allows customers to use the gold they own to apply for a gold loan to meet their financial needs. The Prathama Bank has many advantages as well as a low-interest rate.

    Prathama Bank Gold Loan Calculator 

    • Purity and net weight of gold used in jewellery: Gold used in jewellery should be between 18 and 24 carats pure. To calculate the net weight, the Prathama Bank will subtract the weight of gems and stones from the total weight of the jewellery.
    • Prathama Bank will multiply the purity and net weight of gold in your jewellery by the price of gold to determine its worth. The Reserve Bank of India has advised Indian banks to use the 30-day average price of 22-carat gold, adjusted for purity. Prathama Bank can adjust the value of gold if it is 20-carat purity by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. Prathama Bank will change the value of gold if it is 20-carat purity. You can also lookup the latest gold rate at Dialabank.
    • Loan to Value Ratio: After determining the value of your jewellery, Prathama Bank will use an LTV of up to 75% to determine your eligibility for a jewel loan. Prathama Bank will give you a lower interest rate if you can take a loan amount that is less than your maximum LTV.

    Prathama Bank Gold Loan Rate Per Gram by Gold Purity

    The table below shows an estimation of the gold loan per gram that Prathama Bank would provide against gold jewellery of various purity levels at a maximum 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

    Prathama Bank Gold Loan Rates Per Gram

    The following table shows Prathama Gold Loan Rates per gram – Jun 21 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 21 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 

    Indians are among the world’s leading consumers of gold. Indians tend to buy gold since it is considered a ‘safe’ investment. Investors study the markets for fluctuations in prices, which dictate demand. Let us look at the detailed historical gold loan rates per gram mentioned below:

    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 Gold Loan Per Gram Rate Comparison

    Feature
    Manappuram
    Axis Bank
    Yes Finance
    Interest Rate
    9.90%
    12.50%
    9.99%
    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
    3,124
    3,073
    3,069

    Tips to get the highest Gold Loan Amount Per Gram from Prathama Bank

    • For a gold loan, Prathama Bank accepts both hallmarked and non-hallmarked jewellery. However, if you have hallmark jewellery, you can get the highest Prathama Bank gold loan per gramme because the valuer is less likely to undervalue it. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
    • The Prathama Bank Gold Loan Per Gram adjusts the price of 22-carat gold to account for purity. As a result, borrow against higher-purity jewellery if possible, as this will get you the most money for a gold loan.
    • Prathama Bank will use the net weight of your jewellery to determine the amount of gold loan you are eligible for. Per Gram Gold
    • Prathama Bank Gold Loan Per Gram Loan from Prathama Bank, Choose jewellery with the fewest gems and stones as much as possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by the majority of banks. To decide the net weight, Prathama Bank will depend on the analysis of his gold valuer. 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 jewel loan you are eligible for.
    • On gold, it’s common practice to aim for the highest possible LTV. The RBI has given Prathama Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.


    gold loan at 7%

    हिंदी में पढ़े | தமிழில் படியுங்கள்

    ILLUSTRATION: The purity of gold, the LTV, and the weight of gold are used to calculate the loan number. Assume that Ajay, Abhishek, and Jyoti each own differing quantities of gold of varying purity. Ajay has 70 grammes of gold with an 18-carat purity. Abhishek has 60 grammes of gold that is 20 carats pure, and Jyoti has 50 grammes of gold that is 22 carats pure. They apply for a gold loan with Prathama 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

    Jyoti, who has the smallest gold weight of 50gm, will receive the lowest gold loan rate of 2.27 Lakh from Prathama Bank, as seen in the illustration above.

    Since Ajay has the most gold weight, Prathama Bank will give him the highest gold loan sum of Rs 2.60 lakh in the same example.