Puduvai Bharathiar Grama Bank Gold Loan Per Gram

Puduvai Bharathiar Grama Bank Gold Loan Per Gram is ₹ 3,800 to ₹ 4,350

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.
• 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.
• 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.

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%.

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 – Apr 23 2024

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:

Gold Loan Per Gram Rate Comparison for Major Banks

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.
• 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.

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.

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.

Puduvai Bharathiar Grama Bank Gold Loan Per Gram FAQs

✅ What is the Puduvai Bharathiar Grama Bank Gold Loan scheme?

Puduvai Bharathiar Grama Bank gold loan 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 Puduvai Bharathiar Grama Bank and other leading banks and non-banking financial companies. The current rate for Puduvai Bharathiar Grama Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Gold Loan can I get per gram in Puduvai Bharathiar Grama Bank?

Puduvai Bharathiar Grama Bank Gold Loan Per Gram Depends upon the weight and purity of your gold. Puduvai Bharathiar Grama Bank Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

✅ How is Puduvai Bharathiar Grama Bank Gold Loan Per Gram calculated?

The Puduvai Bharathiar Grama Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. Puduvai Bharathiar Grama 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.