State Bank of Mysore Gold Loan Per Gram

AT 0.49%* INTEREST RATE
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    State Bank of Mysore Gold Loan Per Gram

    State Bank of Mysore Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450

    State Bank of Mysore 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
    Loan to Value 75% of the gold ornament’s market value

    State Bank of Mysore Gold Loan Calculator

    To use the State Bank of Mysore Gold Loan EMI Calculator at Dialabank, you must enter the following information:

    • State Bank of Mysore Gold Loan Per GramThe lender’s offered interest rate
    • Loan principal of the subscribed/required gold loan
    • The repayment period that is planned

    Following the submission of these three details, the EMI calculator would instantly calculate the monthly instalments to be paid by the borrower (while taking into account the current gold prices). Similar data can be entered into other EMI calculators, such as a home loan calculator, a personal loan EMI calculator, a car loan EMI calculator, and so on.

    Check the current gold rate with Dialabank.

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

    The table below provides an estimate of the gold loan per gram that the State Bank of Mysore will offer against gold jewellery of various purity levels 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 Mysore Gold Loan Rate Per Gram

    The table below displays the most recent State Bank of Mysore gold loan rates per gram. Aug 10 2022

    Updated - Gold Loan Per Gram Rate w.e.f Aug 10 2022

    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 Per Gram Rates

    The table shows that, except for a few lows between some years, the gold price trend has historically been on the rise, giving credibility 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)
    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 SBI
    Muthoot Finance
    Interest Rate 9.90% onwards 7% onwards 12% onwards
    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
    Pre-closure Charges 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 3066 3073 3073

    Tips to Get The Highest Gold Loan Amount from State Bank of Mysore

    • To obtain a gold loan, State Bank of Mysore accepts both hallmarked and un hallmarked jewellery. If you pledge hallmark jewellery, you can get a larger loan amount. Furthermore, some banks charge lower processing fees for hallmarked gold jewellery.
    • The State Bank of Mysore adjusts the price of gold based on its purity. As a result, always try to borrow money against higher purity jewellery, as this will provide you with the highest amount for a gold loan.
    • Make every effort to obtain the highest LTV on the value of gold. The RBI allows the bank to request a maximum LTV of up to 75 per cent to calculate the exact amount of gold loan you are eligible for.

    GOLD LOAN @ 0.49%*

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    Illustration: The loan amount is determined by the purity of the gold, the LTV, and the weight of the gold. Assume Aditya and his two friends Bony and Chaaya, each own varying amounts of gold of varying purity. Aditya possesses 70 grams of gold with an 18-carat purity. Bony possesses 60 grams of gold with a purity of 20 carats, while Chaaya possesses 50 grams of gold with a purity of 22 carats. They approach the State Bank of Mysore to obtain a gold loan.

    The price used to calculate their gold loan amount eligibility based on a maximum LTV of 75% will vary depending on the purity of gold, resulting in varying State Bank of Mysore Gold Loan Per Gram eligibility.

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

    News

    • What exactly is a Sovereign Gold Bond (SGB)? Who is responsible for issuing these bonds?

    SGBs are government securities denominated in grams of gold. They act as a replacement for physical gold. The issue price must be paid in cash by investors, and the bonds must be redeemed in cash when they reach maturity. The bond is issued on behalf of the Government of India by the Reserve Bank of India.

    • Gold pledging is on the rise as household stress rises.

    According to Reserve Bank data, people are increasingly turning to gold and personal loans to cover basic expenses and medical emergencies.

    State Bank of Mysore Gold Loan Per Gram FAQs

    ✅ What is State Bank of Mysore Gold Loan scheme?

    State Bank of Mysore gold loan is a scheme that provides a loan against your gold. Any person in need of quick lump sum money can avail of this facility that is offered by State Bank of Mysore and other leading banks and non-banking financial companies. The current rate for State Bank of Mysore Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

     How much Gold Loan can I get per gram in State Bank of Mysore?

    State Bank of Mysore Gold Loan Per Gram Depends upon the weight and purity of your gold. State Bank of Mysore Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

    ✅ How is State Bank of Mysore Gold Loan Per Gram calculated?

    The State Bank of Mysore Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market gold rate. State Bank of Mysore Gold Loan Per Gram interest rate is then calculated based on several factors: loan amount, loan tenure, relationship with the lender, and loan to value ratio.