Union Bank of India Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
|Union Bank of India 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|
The Union Bank of India offers gold loans at an interest rate of 7%. The current gold loan rate per gram is ₹ 2,900 to ₹ 3,450. The maximum loan repayment tenure offered by this Bank is 12 months, which is exactly one year from the time you avail of the loan. However, the maximum amount that can be availed through the Union Bank of India Gold loan is Rs. 1 crore if you provide your income proof along with the documents attached. They also have flexible repayment schemes available to suit the needs of the customers.
Union Bank of India Gold Loan Calculator
The Union Bank of India Gold Loan Calculator would give you a rough estimate on how much you would get from a gold loan based on the following factors.
- The purity and weight of the gold being pledged: The banks use their in-house valuers to assess the gold’s purity and net weight in your jewellery. The gold used in the jewellery should have purity in the range of 18 to 24 carats.
- The price of the gold: After estimating the purity and the net weight, the Bank has to multiply it with the current price e of the gold to calculate the actual value of the gold. RBI has given out clear instructions to all banks to apply and keep for the past 30 days average of 22-carat gold multiplied by a factor of 20/22 to adjust the value of the gold.
- The LTV ratio: After the exact value of the jewellery is calculated, the Union Bank of India would apply for an LTV of up to 75% to calculate your jewel loan amount eligibility.
Union Bank of India Gold Loan Rate Per Gram by Gold Purity
The table below gives an approximate estimation of the gold loan per gram that the Union Bank of India would offer against gold jewellery of different purity levels.
|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.
Union Bank of India Gold Loan Rate Per Gram
The table below shows the Union Bank of India Gold Loan Rate Per Gram- updated Jun 30 2022
Updated - Gold Loan Per Gram Rate w.e.f Jun 30 2022
|Gold Weight||Gold Purity
Historical Gold Loan Rate Per Gram
Indians are among the world’s leading consumers of gold, with the precious metal constituting a significant portion of our total imports. Indians believe that buying gold as their asset would be a safer option than investing in other kinds of assets.
|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 Rate Per Gram Comparison
Tips to Get The Highest Gold Loan Amount from Union Bank of India
GOLD LOAN @ 0.49%*
ILLUSTRATION: The loan amount eligibility is decided on the basis of purity of gold, LTV and weight of gold. Suppose Mr A and his two friends Mr B and Mr C, own different amounts of gold with varying purity. Mr A has 70 grams of gold with a purity of 18 carats. Mr B has 60 grams of gold with a purity of 20 carats, and Mr C has 50 grams of gold with purity or 22 carats. They approach the Union Bank of India to avail themselves of a gold loan. The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 75% will vary by the purity of gold, resulting in varying gold loan eligibility.
Union Bank of India Gold Loan Per Gram FAQs
✅ What is the Union Bank of India Gold Loan scheme?
Union Bank of India 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 Union Bank of India and other leading banks and non-banking financial companies. The current rate for Union Bank of India Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.
✅ How much Gold Loan can I get per gram in Union Bank of India?
Union Bank of India Gold Loan Per Gram Depends upon the weight and purity of your gold. Union Bank of India Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.
✅ How is Union Bank of India Gold Loan Per Gram calculated?
The Union Bank of India Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. Union Bank of India 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.
Table of Contents
- 1 Union Bank of India Gold Loan Per Gram Today is ₹ 2,900 to ₹ 3,450
- 2 Union Bank of India Gold Loan Calculator
- 3 Union Bank of India Gold Loan Rate Per Gram by Gold Purity
- 4 Union Bank of India Gold Loan Rate Per Gram
- 5 Historical Gold Loan Rate Per Gram
- 6 Major Banks’ Gold Loan Rate Per Gram Comparison
- 7 Tips to Get The Highest Gold Loan Amount from Union Bank of India
- 8 Union Bank of India Gold Loan Per Gram FAQs