Vijaya Bank Gold Loan per Gram

Vijaya Bank Gold Loan Per Gram Today is ₹ 3,800 to ₹ 4,350

Vijaya Bank issues a Gold Loan per gram rate of ₹ 3,506 to ₹ 4,621 in line with the current gold rate. The best Vijaya Bank Gold Loan Rate per gram is ₹ 3,506 to ₹ 4,621 for 22 Carat gold, measured at a maximum 75% loan to value, and the average gold price for the last one month for 22-carat is ₹ 3,800 to ₹ 4,350. 

Vijaya Bank Gold Loan Calculator

The Vijaya Bank Gold Loan Calculator provided by Dialabank gives you an approximation of the amount of gold loan that can be availed based on the factors mentioned below.

1. The total weight and purity of the gold that is being pledged: The bank would use the in-house valuers to do a proper assessment of the purity and the total weight of the gold in the jewellery that you pledge. The bank would expect the gold to have a purity ranging from 18- 24 carats. The Vijaya Bank also reduces the weights of the gems and stones from your jewellery and calculates the value only for the gold.
2. The price of the gold: Once the estimation of the purity and the net weight of the gold has been done, the bank would multiply it with the current price of the gold. The Reserve Bank of India has given clear instructions to all banks that they should have a 30 days average of 22-carat gold multiplied by a factor of 20/22 to adjust the value of the gold.
3. Loan to Value Ratio: After the value of the jewellery has been calculated, Vijaya Bank would apply an LTV of up to 75% to calculate your jewel loan amount eligibility. Check out Vijaya Bank for exciting offers on the same.

Vijaya Bank Gold Loan Rate Per Gram by Gold Purity

The table gives an estimate of the gold loan per gram that Vijaya Bank would offer against gold jewellery of different purity levels.

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

Vijaya Bank Gold Loan Rate Per Gram

The following table shows Vijaya Bank Gold Loan Rate Per Gram- Updated Apr 18 2024

Historical Gold Loan Rate Per Gram

The Indians are one of the world’s leading consumers of gold, it is this precious metal that constitutes an ample portion of the country’s total imports. Indians tend to invest in gold because it is considered a ‘safe’ investment.

Major Banks’ Gold Loan Rate Per Gram Comparison

Tips to Get The Highest Gold Loan Amount from Vijaya Bank

• Vijaya Bank is known for accepting all kinds of jewellery for giving a loan. However, if you want a higher gold loan amount then its best if you pledge hall marked jewellery for it has more value and some banks even reduce the processing fees for the same.
• The Bank is said to adjust the price of 22 carat gold for the purity of the gold. Hence, it is very important to borrow against higher purity jewellery as it will get you a higher gold loan amount.
• The Vijaya Bank would also calculate the net wright of jewellery to calculate and predict the amount of loan that you would get for the given quantity of gold. Always pledge gold jewellery with minimal stones and gems. As it is the weight of the gold that they would take in account and not the stones. Having stones or gems would reduce the value of the gold and in turn reducing the amount that you get as gold loan.
• Always try to get the maximum LTV on the value of gold. Vijaya Bank is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

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 gram of gold with a purity of 18 carats. Mr B has 60 gram of gold with a purity of 20 carats and Mr. C has 50 grams of gold with a purity or 22 carat. They approach Vijaya Bank to avail 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 and hence, will result in varying gold loan eligibility.