Punjab and Sind Bank Gold Loan Per Gram

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    Punjab and Sind Bank Gold Loan Per Gram

    Punjab and Sind Bank Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450

    Punjab and Sind 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 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 75% of the gold ornament’s market value

     

    Punjab and Sind Bank Gold Loan per gram rate is ₹ 2,900 to ₹ 3,450. The rate of interest offered for a gold loan is 7% per annum. You can avail up to Rs. 1 crore using this gold loan provided you submit your income proof. The loan tenure is extremely flexible and goes up to 36 months, and that is approximately 3 years. They also have various repayment schemes such as bullet payment schemes and overdraft schemes.

    Punjab and Sind Bank Gold Loan Calculator

    Dialabank’s Punjab and Sind Gold Loan Calculator gives you an estimate of the amount of gold loan you can avail of based on the following factors.

    • Punjab and Sind Bank Gold Loan Per GramNet Weight & The Purity of The Gold Being Pledged: The bank will use its in-house valuer to assess the purity and net weight of gold in your jewellery. Gold used in the jewellery should be of purity of 18 to 24 carats. The bank will also reduce the weight of gems and stones from the jewellery to calculate the net weight of the jewellery. The valuer will give his findings in writing. 
    • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewellery, the bank will multiply it with the price of gold to calculate the value of gold. 
    • Loan to Value Ratio: Once the value of jewellery is calculated, The Punjab and Sind Bank will apply an LTV of up to 75% to calculate your jewel loan amount eligibility. 

    Punjab and Sind Bank Gold Loan Rate Per Gram by Gold Purity

    The following table gives you an approximate estimation of Punjab and Sind Bank Gold Loan Per Gram offers to the customers for the gold jewellery of different purity levels.

    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

    Punjab and Sind Bank Gold Loan Rate Per Gram

    The table given below shows the Punjab and Sind Bank Gold Loan Rate Per Gram- updated  Jun 25 2022

    Updated - Gold Loan Per Gram Rate w.e.f Jun 25 2022

    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 Rate Per Gram

    Indians are known to be one of the largest consumers of gold because this metal has so much value that it constitutes a significant amount of the total imports into the nation. Indians prefer spending their money and buying assets, but they consider buying gold the safest investment.

    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

    Major Banks’ Gold Loan Rate Per Gram Comparison

    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 The Highest Gold Loan Amount from Punjab and Sind Bank

    • The Punjab and Sind Bank accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get the highest gold loan per gram for hallmark jewellery, as it reduces the chances of under-valuation by the valuer. Also, some banks charge a lower processing fee on hallmarked gold jewellery.
    • The bank is asked to adjust the price of 22-carat gold for purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for a gold loan.
    • The Punjab and Sind Bank will then calculate the net weight of your jewellery to determine the amount of loan against the gold you can get. Make sure you try to choose jewellery that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. They only take the weight of the gold into consideration, and you would get the amount for the loan based on that.
    • Always try to get the maximum LTV on the value of gold. The Punjab and Sind Bank is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

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    ILLUSTRATION: The loan amount eligibility is decided on the basis of purity of gold, LTV and weight of gold. Suppose Mr A and his two friends Mr B and Mr C, own different amounts of gold with varying purity. Mr A has 70 grams of gold with a purity of 18 carats. Mr B has 60 grams of gold with a purity of 20 carats, and Mr C has 50 grams of gold with purity or 22 carats. They approach The Punjab and Sind Bank to avail themselves of a gold loan.

    The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 75% will vary by the purity of gold, resulting in varying gold loan eligibility.

    Punjab and Sind Bank Gold Loan Per Gram FAQs

    ✅ What is the Punjab and Sind Bank Gold Loan scheme?

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

     How much Gold Loan can I get per gram in Punjab and Sind Bank?

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

    ✅ How is Punjab and Sind Bank Gold Loan Per Gram calculated?

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