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Puduvai Bharathiar Grama Bank Gold Loan Per Gram

Puduvai Bharathiar Grama Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621

Puduvai Bharathiar Grama 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 Puduvai Bharathiar Grama Bank Gold Loan scheme allows customers to apply for a gold loan using their own gold. The Puduvai Bharathiar Grama Bank offers a variety of advantages, including a low interest rate.

Gold Loan Calculator for Puduvai Bharathiar Grama Bank

  • Purity and net weight of gold used in jewellery: To be used in jewellery, gold should be between 18 and 24 carats pure. Gold Loan Per Gram at Puduvai Bharathiar Grama Bank subtracts the weight of gems and stones from the overall weight of the jewellery to arrive at the net weight. The appraiser will keep track of everything.
  • To calculate its value, the purity and net weight of gold in your jewellery will be multiplied by the gold price at Puduvai Bharathiar Grama Bank. Indian banks have been advised to use the Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity. Puduvai Bharathiar Grama Bank will use the 30-day average of 22-carat gold multiplied by a factor of 20/22 to adjust the value of 20-carat gold. You can also lookup the latest gold rate at Dialabank.
  • Loan To Value – After determining the value of your jewellery, Puduvai Bharathiar Grama Bank will use an LTV of up to 75% to determine your eligibility for a jewel loan. Puduvai Bharathiar Grama Bank will give you a lower interest rate if you can take a loan amount that is less than your maximum LTV.

Puduvai Bharathiar Grama Bank Gold Loan Rate Per Gram by Gold Purity

The table below estimates how much the Puduvai Bharathiar Grama Bank Gold Loan Per Gram would provide against 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

Puduvai Bharathiar Grama Bank Gold Loan Rates Per Gram

The following table shows Puduvai Bharathiar Grama Bank Gold Loan Per Gram Rates – Jun 24 2021

Updated - Gold Loan Per Gram Rate w.e.f Jun 24 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

India is one of the world’s largest gold buyers. Indians prefer gold because it is considered a “secure” investment. Traders keep a close eye on the markets for shifts in price that can impact demand. 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

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 Puduvai Bharathiar Grama Bank

  • For a gold loan, the Puduvai Bharathiar Grama Bank accepts both hallmarked and non-hallmarked jewellery. If you have hallmark jewellery, the appraiser is less likely to undervalue it, so that the Puduvai Bharathiar Grama Bank will offer you the best gold loan per gramme. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
  • In the price of 22-carat gold, the Puduvai Bharathiar Grama Bank Gold Loan Per Gram accounts for purity. As a result, to get the most money for a gold loan, borrow against higher-purity jewellery if at all necessary. Puduvai Bharathiar Grama Bank Gold Loan Per Gram
  • According to Puduvai Bharathiar Grama Bank, the amount of gold loan you are liable for is determined by the net weight of your jewellery. Choose jewellery with the fewest gems and stones as much as possible.  The net weight can be calculated using the gold values at the Puduvai Bharathiar Grama Bank. 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.
  • In gold, it’s common practice to aim for the maximum possible LTV. The RBI has granted Puduvai Bharathiar Grama Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.


gold loan

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 owns 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 the Puduvai Bharathiar Grama Bank. 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

Jyoti, who has the smallest gold weight of 50gm, would receive the lowest gold loan rate of 2.27 Lakh from Puduvai Bharathiar Grama Bank, as seen in the example above. Since he has the most gold weight, Ajay will earn the highest gold loan sum of Rs 2.60 lakh from Puduvai Bharathiar Grama Bank.