State Bank of Mysore Agriculture Gold Loan

State Bank of Mysore Agriculture Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621

State Bank of Mysore 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: An internal appraiser will be used by the bank to determine the purity and net worth—the value of the jewellery. Pure gold weighing between 18 and 24 carats must be used in jewellery. The State Bank of Mysore will reduce the weight of the gems in the jewellery to calculate the net weight of the jewellery. The appraiser will complete the appraisal.
• Gold Price: The State Bank of Mysore can calculate the value of the gold by multiplying the gold by the gold price once the appraiser has determined the purity and net weight of the gold in the jewellery. The Reserve Bank of India directed the bank to charge an average of 22 karats of gold over the previous 30 days, with the charge adjusted based on the purity of the gold. As a result, if the gold is pure 20 karat gold, the gold’s value will be changed by multiplying the average price of 20 karats over 30 days by 20/22. Dialabank.com also displays the most recent gold exchange rate.
• Loan-to-Value Ratio: The State Bank of Mysore will use up to 75 percent of the LTV to determine eligibility for the jewellery loan amount after calculating the value of the jewellery. If you are willing to borrow at a lower price than the higher LTV, the State Bank of Mysore Finance may be able to offer you a lower interest rate.

State Bank of Mysore Agriculture Gold Loan Eligibility

Documents Required for State Bank of Mysore Agriculture Gold Loan

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

The table below calculates State Bank of Mysore’s gold loan per gramme 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 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 Mysore Gold Loan Rates Per Gram

The current per gram rate for the State Bank of Mysore loans is ₹ 3,506 to ₹ 4,621. The LTV of 22 karat gold jewellery is estimated at 75%. Gold prices fluctuate on a daily basis based on loans per gramme.

Historical Gold Loan Rates Per Gram

With the exception of a few lows in recent years, the table shows that gold price trends have always been increasing, indicating that gold has been a safe investment for a long time.

Major Banks Gold Loan Per Gram Rate Comparison

Feature	HDFC Bank	ICICI 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 Mysore Gold Loan Amount

• The State Bank of Mysore accepts both marked and unmarked jewellery for gold loans. The State Bank of Mysore will provide you with the best gold mortgage per gram if you own one-of-a-kind jewellery because the appraiser will not undervalue your benefits. In addition, some financial institutions lower transaction prices for gold-plated jewellery.
• The State Bank of Mysore gold loans have a purity of twenty-two carats of gold per gram. As a result, if you need to borrow the most gold money, you can do so from higher-purity jewellery whenever you want.
• The State Bank of Mysore will determine the amount of your gold loan based on the net weight of the jewellery per gram. Select as few gems as possible for your jewellery. The weight of gemstones and rocks is usually deducted from the total weight of the jewellery by most banks. The net weight will be determined by the State Bank of Mysore’s gold appraiser’s analysis. As more diamonds and gemstones are added to a piece of jewellery, the overall weight and value of the piece decreases, allowing you to qualify for a lower gold loan.
• In the gold sector, the standard strategy is to aim for the highest LTV. When calculating your eligible gold loan amount, the Reserve Bank of India has authorised the State Bank of Mysore to charge up to 75 percent of the LTV.

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Illustration:

The purity of the gold, the LTV, and the gold burden all contribute to the mortgage amount.

Consider Aditya and his friends, Bhawani and Chhaya; each has a certain amount of gold of varying purity. Aditya owns 70 gram of 18-karat gold. Bhawani keeps 60 gram of 20-carat gold, while Chhaya keeps 50 gram of 22-carat gold.

They apply for a gold mortgage with the State Bank of Mysore Finance. The fee used to calculate their gold mortgage amount eligibility primarily based entirely on the maximum LTV of 75% will differ depending on the purity of gold, resulting in specific gold mortgage eligibility.

The State Bank of Mysore will offer Chhaya the lowest gold loan rate of Rs. 2.27 Lakh because she has the smallest gold weight of 50gm, as shown in the illustration above.
In the same example, State Bank of Mysore will grant Aditya the highest gold loan amount of Rs 2.60 Lakh because he possesses the most gold weight.