Punjab Gramin Bank Gold Loan Per Gram

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Punjab Gramin Bank Gold Loan Per Gram

Punjab Gramin Bank Gold Loan Per Gram is ₹ 2,900 to ₹ 3,450

Punjab Gramin 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 25% of the gold ornament’s market value

 

The Punjab Gramin Bank Gold Loan is a service provided by the bank that enables customers to apply for a gold loan using the gold they already possess. The Punjab Gramin Bank offers a number of benefits, including a low interest rate.

Gold Loan Calculator for Punjab Gramin Grameen Bank

  • Purity and net weight of gold used in jewellery: The gold used in the jewellery should have a purity of 18 to 24 carats. Punjab Gramin Bank will deduct the weight of gems and stones from the total weight of the jewellery to determine the net weight. The appraiser will document his findings.
  • To calculate the value of gold, Punjab Gramin Bank will multiply the purity and net weight of gold in your jewellery by the price of gold. The Reserve Bank has advised banks of India to use the average price of 22-carat gold over the previous 30 days, adjusted for purity. Using the 30-day average of 22-carat gold multiplied by a factor of 20/22, Punjab Gramin 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: Punjab Gramin Bank will use an LTV of up to 75% to assess your jewel loan amount eligibility after calculating the value of your jewellery. If you’re able to take a loan with a lower LTV than your limi, Punjab Gramin Bank will give you a lower interest rate.

Punjab Gramin Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows an estimate of the gold loan per gram that Punjab Gramin Bank will give 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

Punjab Gramin Bank Gold Loan Rates Per Gram

The following table shows Punjab Gramin Bank Gold Loan Per Gram Rates – Feb 03 2023

Updated - Gold Loan Per Gram Rate w.e.f Feb 03 2023

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 biggest gold buyers. Indians prefer to buy gold because it is regarded as a “secure” investment. Investors keep an eye on the markets for price changes that influence demand. Take a look at the following comprehensive historical gold loan rates per gram:

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

Gold Loan Per Gram Rate Comparison for Major Banks

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 Per Gram from Punjab Gramin Bank

  • Punjab Gramin Bank accepts both hallmarked and non-hallmarked jewellery for a gold loan. However, you can get the highest Punjab Gramin Bank gold loan per gram if you have hallmark jewellery because the valuer is less likely to undervalue it. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
  • The price of 22-carat gold is adjusted by the Punjab Gramin Bank Gold Loan Per Gram to account for purity. Consequently, if possible, borrow against higher-purity jewellery, as this will get you the most money for a gold loan.
  • Punjab Gramin Bank will use the net weight of your jewellery to decide the amount of gold loan you are eligible for.Punjab Gramin Bank Gold Loan Per Gram Whenever possible, choose jewellery with the fewest gems and stones. Punjab Gramin Bank will depend on his gold valuer’s analysis to determine the net weight. The overall weight and value of a piece of jewellery decrease as more diamonds and stones are added, resulting in a lower jewel loan you are eligible for.
  • On gold, it’s common to strive for the maximum possible LTV. When calculating the amount of gold loan you are eligible for, the RBI has granted Punjab Gramin Bank permission to charge a maximum LTV of up to 75%.

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ILLUSTRATION: The purity of gold, the LTV, and the weight of gold is used to calculate the loan number. Assume that Ajay, Abhishek, and Jyoti each own varying amounts of gold of various purity levels. Ajay has 70 grammes of 18-carat gold in his possession. Jyoti has 50 grammes of gold that is 22 carats pure, while Abhishek has 60 grammes of 20-carat gold. They apply to Punjab Gramin Bank for a gold loan. 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 will earn the lowest gold loan rate of 2.27 lakh from Punjab Gramin Bank, as she has the smallest gold weight of 50gm.

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

As shown in the example above, Jyoti, who has the smallest gold weight of 50gm, will earn the lowest gold loan rate of 2.27 Lakh from Punjab Gramin Bank. In the same example, Punjab Gramin Bank will offer Ajay the highest gold loan amount of Rs 2.60 lakh because he has the most gold weight.