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    Vidharbha Konkan Gramin Bank Gold Loan Per Gram

    Vidharbha Konkan Gramin Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621

    Vidharbha Konkan Gramin Bank Gold Loan Per Gram Today Gold Loan Rate Per Gram Today is ₹ 3,506 to ₹ 4,621
    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 25% of the gold ornament’s market value

     

    Customers may apply for a gold loan using their own gold through the Vidharbha Konkan Gramin Bank Gold Loan scheme. The Vidharbha Konkan Gramin Bank has a number of benefits, one of which is a low interest rate.

    Gold Loan Calculator for Vidharbha Konkan Gramin Bank

    • Purity and net weight of gold used in jewellery: In order to be used in jewellery, gold should be between 18 and 24 carats pure. To calculate the net weight, the Vidharbha Konkan Gramin Bank Gold Loan Per Gram subtracts the weight of gems and stones from the total weight of the jewellery. In a notebook, the appraiser will keep track of his results.
    • The purity and net weight of gold in your jewellery will be multiplied by the gold price at Vidharbha Konkan Gramin Bank to determine its worth. Indian banks have been advised to use the Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity. Vidharbha Konkan Gramin Bank will use the 30-day average of 22-carat gold multiplied by a factor of 20/22 to adjust the value of 20-carat gold. You can also lookup the latest gold rate at Dialabank.
    • Loan To Value – After determining the value of your jewellery, Vidharbha Konkan Gramin Bank will use an LTV of up to 75% to determine your eligibility for a jewel loan. Vidharbha Konkan Gramin Bank will give you a lower interest rate if you can take a loan amount that is less than your maximum LTV.

    Vidharbha Konkan Gramin Bank Gold Loan Rate Per Gram by Gold Purity

    The table below shows an estimation of how much the Vidharbha Konkan Gramin Bank Gold Loan Per Gram would provide 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

    Vidharbha Konkan Gramin Bank Gold Loan Rates Per Gram

    The following table shows Vidharbha Konkan Gramin Bank Gold Loan Per Gram Rates – Jun 21 2021

    Updated - Gold Loan Per Gram Rate w.e.f Jun 21 2021

    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 Rates Per Gram

    India is one of the world’s largest gold buyers. Gold is preferred by Indians because it is considered a “secure” investment. Investors keep a close eye on the markets for shifts in price that might impact demand.Take a look at the following comprehensive historical gold loan rates per gram:

    This Table Contains the Average Annual Gold Rate from 1964 - 2021
    Year Price (24 karat per 10 grams) Year Price (24 karat per 10 grams)
    1964 ₹ 63.25 1993 ₹ 4,140.00
    1965 ₹ 71.75 1994 ₹ 4,598.00
    1966 ₹ 83.75 1995 ₹ 4,680.00
    1967 ₹ 102.50 1996 ₹ 5,160.00
    1968 ₹ 162.00 1997 ₹ 4,725.00
    1969 ₹ 176.00 1998 ₹ 4,045.00
    1970 ₹ 184.00 1999 ₹ 4,234.00
    1971 ₹ 193.00 2000 ₹ 4,400.00
    1972 ₹ 202.00 2001 ₹ 4,300.00
    1973 ₹ 278.50 2002 ₹ 4,990.00
    1974 ₹ 506.00 2003 ₹ 5,600.00
    1975 ₹ 540.00 2004 ₹ 5,850.00
    1976 ₹ 432.00 2005 ₹ 7,000.00
    1977 ₹ 486.00 2006 ₹ 8,400.00
    1978 ₹ 685.00 2007 ₹ 10,800.00
    1979 ₹ 937.00 2008 ₹ 12,500.00
    1980 ₹ 1,330.00 2009 ₹ 14,500.00
    1981 ₹ 1,800.00 2010 ₹ 18,500.00
    1982 ₹ 1,645.00 2011 ₹ 26,400.00
    1983 ₹ 1,800.00 2012 ₹ 31,050.00
    1984 ₹ 1,970.00 2013 ₹ 29,600.00
    1985 ₹ 2,130.00 2014 ₹ 28,006.50
    1986 ₹ 2,140.00 2015 ₹ 26,343.50
    1987 ₹ 2,570.00 2016 ₹ 28,623.50
    1988 ₹ 3,130.00 2017 ₹ 29,667.50
    1989 ₹ 3,140.00 2018 ₹ 31,438.00
    1990 ₹ 3,200.00 2019 ₹ 35,220.00
    1991 ₹ 3,466.00 2020 ₹ 48,651.00
    1992 ₹ 4,334.00 2021 ₹ 50,045.00

    Gold Loan Per Gram Rate Comparison for Major Banks

    Feature
    Manappuram
    Axis Bank
    Yes Finance
    Interest Rate
    9.90%
    12.50%
    9.99%
    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
    3,124
    3,073
    3,069

    Tips to get the highest Gold Loan Amount Per Gram from Vidharbha Konkan Gramin Bank

    • For a gold loan, the Vidharbha Konkan Gramin Bank accepts both hallmarked and non-hallmarked jewellery. If you have hallmark jewellery, the appraiser is less likely to undervalue it, resulting in the Vidharbha Konkan Gramin Bank giving you the best gold loan per gramme. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
    • In the price of 22-carat gold, the Vidharbha Konkan Gramin Bank Gold Loan Per Gram accounts for purity. As a result, to get the most money for a gold loan, borrow against higher-purity jewellery if at all necessary. Vidharbha Konkan Gramin Bank Gold Loan Per Gram
    • According to Vidharbha Konkan Gramin Bank, the amount of gold loan you are liable for is determined by the net weight of your jewellery. Choose jewellery with the fewest gems and stones as much as possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by the majority of banks. The net weight will be calculated by the gold valuers at the Vidharbha Konkan Gramin Bank. As more diamonds and stones are applied to a piece of jewellery, the total weight and value of the piece decrease, resulting in a lower jewel loan you are eligible for.
    • In gold, it’s common practice to aim for the maximum possible LTV. The RBI has granted Vidharbha Konkan Gramin Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.


    gold loan at 7%

    हिंदी में पढ़े | தமிழில் படியுங்கள்

     ILLUSTRATION: The loan sum is calculated using the gold purity, LTV, and gold weight. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and a different degree of purity. Ajay is in possession of 70 grammes of 18-carat gold. Jyoti has 50 grammes of 22-carat gold and Abhishek has 60 grammes of 20-carat gold. They apply for a gold loan at the Vidharbha Konkan Gramin Bank. The price used to determine their gold loan sum eligibility based on a maximum LTV of 75% would vary 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
    Ajay 70 18 ₹ 2.60 Lakh
    Abhishek 60 20 ₹ 2.48 Lakh
    Jyoti 50 22 ₹ 2.27 Lakh

    Jyoti, who has the smallest gold weight of 50gm, will receive the lowest gold loan rate of 2.27 Lakh from Vidharbha Konkan Gramin Bank, as seen in the example above. Since he has the most gold weight, Ajay will earn the highest gold loan sum of Rs 2.60 lakh from Vidharbha Konkan Gramin Bank.