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Reliance Gold Loan Per Gram

Reliance Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621

Reliance 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 75% of the gold ornament’s market value

The current rate of gold loan per gram offered  by Reliance is ₹ 3,506 to ₹ 4,621. There are no prepayment charges associated with the loan. However, the maximum loan amount an individual can avail using this loan is up to Rs. 1.5 crores, with the required income proof. The loan tenure for the same ranges from 15 months to 36 months, maximum. 

Reliance Gold Loan Calculator

  • Net weight and purity of the gold: The banks are said to be using their in-house valuer to do a complete assessment of the purity and the total percentage and weight of gold in your jewellery. The gold used in the jewellery should be of purity of 18 to 24 carats if you want to avail of a loan. The bank also reduces the weight of gems and stones and only calculates the weight of the gold from that.  Reliance Gold Loan Per Gram
  • The price of the gold: After the lender makes an approximation about the purity and the total weight of the gold in your jewellery. RBI has given out instructions to the banks to keep in hand the past 30 days average price o 22-carat gold adjusted for the purity of gold.
  • Loan to value ratio: After the value of the jewellery has been calculated, the bank would apply an LTV of up to 75% to make a total calculation of your jewel loan amount eligibility.

Reliance Gold Loan Rate Per Gram by Gold Purity

The following table provides us with an approximate estimation of the gold loan per gram which Reliance Bank would be offering for gold jewellery with varying purity rates.

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

Reliance Gold Loan Rate Per Gram

The following table gives us the Reliance Gold Loan Rate Per Gram- Updated 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

Indians are the world’s largest consumers of gold. They believe that investing in gold would be more helpful in the future, which is why it is this metal that occupies a significant amount of the imports in the country.

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
9.50% 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 getting Best Gold Loan Amount Per Gram from Reliance

  • Reliance Bank accepts both kinds of jewellery that are hallmarked as well as non-hallmarked jewellery for availing a gold loan. You can get a higher amount as your loan if you pledge hallmark jewellery. And some banks also charge lower processing fees for hallmarked gold jewellery.
  • The bank adjusts the price of the gold based on its purity. Therefore always try and borrow money against the higher purity jewellery as it will give you the highest amount for gold loan.
  • The Reliance Bank would calculate the total weight of the jewellery to calculate the amount that you would get as a loan. So, make sure you choose to pledge jewellery that has minimal stones and gems and more of gold. This is because having more stones would reduce the weight of the gold present in the jewellery. Most of the diamond jewellery is usually made in 16-18 carat of gold and hence, would result in you availing a very low gold loan per gram.
  • Try your best to get the maximum LTV on the value for gold. The bank is allowed by the RBI to demand a maximum LTV of up to 75% to calculate the exact amount of gold loan that you would be eligible for.

gold loan

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 Reliance Bank to avail 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 and hence, will result in varying gold loan eligibility.