State Bank of Indore Agriculture Gold Loan

State Bank of Indore Agriculture Gold Loan Per Gram Today is ₹ 3,800 to ₹ 4,350

State Bank of Indore Agriculture Gold Loan Per Gram Today	Gold Loan Rate Per Gram Today is ₹ 3,800 to ₹ 4,350
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
Margin in Gold Loan for the Bank	25% of the gold ornament’s market value

State Bank of Indore Agriculture Gold Loan Per Gram Gold Loan Calculator

The Dialabank Gold Loan Calculator can provide you with an estimate of the amount of gold loan you can use based on the following factors:

Gold purity and net jewellery weight: The bank will use its internal appraiser to assess the purity and net worth—the importance of jewellery. The gold used in jewellery must be between 18 to 24 carats of pure gold. State Bank of Indore will also reduce the weight of gems in the jewellery to calculate the net weight of the jewellery. Finally, the appraiser will complete the writing.
Loan-to-Value Ratio: After calculating the value of the jewellery, the State Bank of Indore will use up to 75% of the LTV to calculate eligibility for the jewellery loan amount. If you are willing to borrow at a price lower than the higher LTV, the State Bank of Indore Finance can offer you a lower interest rate.
Gold Price: After the appraiser has estimated the purity and net weight of the gold in the jewellery, the State Bank of Indore can calculate the value of gold by multiplying the gold by the gold price. The Reserve Bank of India ordered the bank to charge an average of 22 karats of gold in the past 30 days and adjust it based on the purity of the gold. Therefore, if the gold is pure 20 karat gold, the State Bank of Indore will change the value of the gold by multiplying the average price of 20 karats over 30 days by 20/22. You can also check today’s gold exchange rate at Dialabank.com.

State Bank of Indore Agriculture Gold Loan Eligibility

Particulars	Details
Minimum Age of the Applicant	18 years
Maximum Age of the Applicant	60 years for salaried applicants and 65 years for self-employed applicants
Minimum Annual Income	Rs. 100000 net annual income. for salaried individuals, and Net profit Rs. 60000 p.m. for Self – Employed individuals
Car Model	Any approved car model
Type of Employment	Salaried or self-employed
Country or Place of Residence	India (rural/semi-urban/urban areas)
Duration of Stay in Current Residence	A minimum of 1 year

Documents Required for State Bank of Indore Agriculture Gold Loan

Identity Proof	Aadhar Card/Pan Card/ Passport/ Voter ID
Residence Proof	Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
Agriculture Proof ( only if applicable)	Agriculture Land Ownership Proof

State Bank of Indore Agriculture Gold Loan Rate Per Gram by Gold Purity

The table below calculates the gold loan per gram that the State Bank of Indore would offer against various purity levels of gold jewellery 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

State Bank of Indore Gold Loan Rates Per Gram

The current rate per gram for State Bank of Indore loans is ₹ 3,800 to ₹ 4,350. The LTV of 22 karat gold jewellery is estimated at 75%. Gold prices fluctuate daily based on loans per gram.

Updated - Gold Loan Per Gram Rate w.e.f Apr 19 2024
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

The table shows that, except for a few lows between some years, the gold price trend has historically been on the rise, lending credence to the argument that gold is a safe investment over long periods.

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)
2023	₹ 54,699	1994	₹ 4,598
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 Per Gram Rate Comparison

Feature	HDFC Bank	Private Bank	Muthoot Finance
Interest Rate	9.90%	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	2500	2600	2700*

Tips for obtaining the highest State Bank of Indore Gold Loan Amount

For gold loans, the State Bank of Indore accepts both marked and unmarked jewellery. If you own one-of-a-kind jewellery, the State Bank of Indore will provide you with the best gold mortgage per gram because the appraiser will not undervalue your benefits. Furthermore, some financial institutions reduce transaction prices for gold-plated jewellery.
Each gram of gold loan received from the State Bank of Indore has a purity of twenty-two carats of gold. As a result, if you need to borrow the maximum gold money, you could accomplish that from higher-purity jewellery whilst you want it.
State Bank of Indore will calculate your gold loan based on the net weight of the jewellery per gram. Choose as few gems as possible in your jewellery. Most banks deduct the weight of gemstones and rocks from the total weight of the jewellery. State Bank of Indore’s gold appraiser’s analysis will determine the net weight. The overall weight and value of a piece of jewellery decrease as more diamonds and gemstones are added, allowing you to qualify for a lower gold loan.
The standard strategy in the gold sector is to aim for the highest LTV. Accordingly, the Reserve Bank of India has authorised the State Bank of Indore to charge up to 75 per cent of the LTV when calculating your eligible gold loan amount.

GOLD LOAN @ 0.75%*

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Illustration:

The purity of the gold, the LTV, and the weight of the gold all contribute to the loan amount.

Assume Aditya and his two friends, Bhawani and Chhaya. Each has a different amount of gold of varying purity. Aditya possesses 70 grams of 18-carat gold. Bhawani possesses 60 grams of 20-carat gold, while Chhaya possesses 50 grams of 22-carat gold. They apply to the State Bank of Indore Finance for a gold loan.

The price used to calculate their gold loan amount eligibility based on a maximum LTV of 75% will differ depending on the purity of gold, resulting in different gold loan eligibility.

Carats / Weight Of Gold	Gold Weight (In Gm)	Purity Of Gold (In Carat)	Gold Loan Eligibility
Aditya	70	18	Rs 2.60 Lakh
Bhawani	60	20	Rs 2.48 Lakh
Chhaya	50	22	Rs 2.27 Lakh

State Bank of Indore will provide Chhaya with the lowest gold loan rate of 2.27 Lakh because she has the lowest gold weight of 50gm, as shown in the illustration above.
State Bank of Indore will offer Aditya the highest gold loan amount of Rs 2.60 Lakh in the same example because he has the most gold weight.

State Bank of Indore Agriculture Gold Loan FAQs

✅ What is the interest rate for State Bank of Indore agriculture gold loan?

State Bank of Indore Agricultural Gold Loans starts at an interest rate of 7% per annum. For the State Bank of Indore Agricultural Gold Loan, you need agricultural land and cultivation along with basic documents such as an Aadhaar Card/PAN Card.

✅ What is State Bank of Indore Agri gold loan?

State Bank of Indore Agri Gold Loan is a loan against gold, particularly for farmers, that are available for agricultural purposes. The loan amount disbursed under the State Bank of Indore Agri gold loan can only be used for agricultural and allied activities. One has to present the proof of agricultural land and cultivation along with the basic documents required for the State Bank of Indore Agri Gold Loan.