State Bank of Mysore Agriculture Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
State Bank of Mysore 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 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
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 Mysore 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 Mysore Agriculture Gold Loan Rate Per Gram by Gold Purity
The table below calculates the 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 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
State Bank of Mysore Gold Loan Rates Per Gram
The current per gram rate for the State Bank of Mysore loans is ₹ 2,900 to ₹ 3,450. The LTV of 22 karat gold jewellery is estimated at 75%. Gold prices fluctuate on a daily basis based on loans per gramme.
Updated - Gold Loan Per Gram Rate w.e.f Jan 27 2023
Gold Weight
Gold Purity
24 CaratGold Purity
22 CaratGold Purity
20 CaratGold 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
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.
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
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 has 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 decrease, 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 per cent of the LTV.
GOLD LOAN @ 0.49%*
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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 grams of 20-carat gold, while Chhaya keeps 50 grams 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.
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 |
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, the State Bank of Mysore will grant Aditya the highest gold loan amount of Rs 2.60 Lakh because he possesses the most gold weight.
Table of Contents
- 1 State Bank of Mysore Agriculture Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
- 2 State Bank of Mysore Agriculture Gold Loan Per Gram Gold Loan Calculator
- 3 State Bank of Mysore Agriculture Gold Loan Eligibility
- 4 Documents Required for State Bank of Mysore Agriculture Gold Loan
- 5 State Bank of Mysore Gold Loan Rates Per Gram
- 6 Historical Gold Loan Rates Per Gram
- 7 Major Banks Gold Loan Per Gram Rate Comparison element.style { } .table-curved { border: 1px solid #d4d0d0; } .table { width: 100%; max-width: 100%; margin-bottom: 20px; border-spacing: 100px; } .table-curved { border: 1px solid #666666 !important; } .table { width: 100%; max-width: 100%; margin-bottom: 20px; border-spacing: 0; } table { border-collapse: collapse; border-spacing: 0; } table, tbody, td, tfoot, th, thead, time, tr, tt { margin: 0; border: 1px solid #666666 !important; vertical-align: middle; padding: 5px; font-size:14px !important; } pre code, table { background-color: transparent; } table { border-collapse: collapse; border-spacing: 1px; } user agent stylesheet table { display: table; border-collapse: separate; box-sizing: border-box; border-spacing: 2px; border-color: grey; } .style2 {color: #FFFFFF; font-weight: bold; } .style3 { color: #333333 } .style5 {color: #333333; font-weight: bold; } 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*
- 8 Tips for obtaining the highest State Bank of Mysore Gold Loan Amount