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    Punjab and Sind Bank Gold Loan Per Gram

    Punjab and Sind Bank Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621

    Punjab and Sind 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 jewelry 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 ₹ 3,506 to ₹ 4,621. 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 scheme and overdraft scheme.

    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 basis the following factors.

    • Net Weight & The Purity of The Gold Being Pledged: The bank will use their 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.  Punjab and Sind Bank Gold Loan Per Gram
    • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewellery, the bank would be asked to 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 the gold loan per gram that The Punjab and Sind Bank 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 17 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 17 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 Rate Per Gram

    Indians are known to be one of the most largest consumers of gold. This metal has so much value that is 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 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 Rate Per Gram Comparison

    Feature
    HDFC Bank
    ICICI Bank
    Muthoot Finance
    Interest Rate
    9.50% onwards
    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
    3,066
    3,073
    3,073

    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 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.

    gold loan at 7%

    हिंदी में पढ़े | தமிழில் படியுங்கள்

    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 gram of gold with a purity of 18 carats. Mr B has 60 gram 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 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 and hence, will result in varying gold loan eligibility.