State Bank of Indore Agriculture Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
|State Bank of Indore Agriculture 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|
|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
|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%. The above table shows the method by which Banks will calculate your per gram gold loan for gold of varying purity.
Gold Rate Per Gram- Average Of Past 30 Days
Highest Gold Loan Per Gram
Lowest Gold Loan Per Gram
The above table shows the method by which Banks will calculate your per gram gold loan for gold of varying purity.
State Bank of Indore Gold Loan Rates Per Gram
The current rate per gram for State Bank of Indore loans is ₹ 2,900 to ₹ 3,450. 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 Aug 08 2022
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
Price (24 karat per 10 grams)
Price (24 karat per 10 grams)
Major Banks Gold Loan Per Gram Rate Comparison
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 @ 0.49%*
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.
✅ How to pay State Bank of Indore Agriculture Gold Loan Online?
You have an option to pay State Bank of Indore Agriculture online through online repayment applications.
Read More: Best Methods of Repaying Gold Loan
Table of Contents
- 1 State Bank of Indore Agriculture Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
- 2 State Bank of Indore Agriculture Gold Loan Per Gram Gold Loan Calculator
- 3 State Bank of Indore Agriculture Gold Loan Eligibility
- 4 Documents Required for State Bank of Indore Agriculture Gold Loan
- 5 State Bank of Indore Gold Loan Rates Per Gram
- 6 Historical Gold Loan Rates Per Gram
- 7 Major Banks Gold Loan Per Gram Rate Comparison
- 8 Tips for obtaining the highest State Bank of Indore Gold Loan Amount
- 9 State Bank of Indore Agriculture Gold Loan FAQs