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Vijaya gold loan per gram

Vijaya gold loan Per Gram Today is ₹ 3,506 to ₹ 4,621

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
Margin in Gold Loan for the Bank 25% of the gold ornament’s market value

About Vijaya Gold Loan Per Gram Rate

Gold happens to be one of the most celebrated metals, especially in India. Almost every household has gold jewels. These were initially bought as a tradition in our country but now, they are being bought as security today, so that one can exchange or vow them in times of need. This is why the Gold Loan facility has become one of the major important services in comparison with any of the other services provided to us. If you are having some financial difficulties, you can overcome all of these difficulties by vowing your gold ornaments to apply for a gold loan and get quick cash for the same. To apply for a gold loan, you have to deposit your jewel as collateral to the bank in exchange for money. Once you return the loan amount, the bank will also return the jewellery.

Gold Loan Calculator for Vijaya Bank

  • Purity and net weight of gold used in jewellery: To be used in jewellery, gold should be between 18 and 24 carats pure. By subtracting the weight of gems and stones from the total weight of the jewellery, the net weight of the Vijaya gold loan per gramme is determined. The appraiser can keep track of anything.
  • The purity and net weight of gold in your jewellery will be compounded by the gold price at Vijaya Gold Loan Per Gram 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. The sum of 20-carat gold will be compounded by a factor of 20/22, multiplied by a 30-day average of 22-carat gold. You can also lookup the latest gold rate at Dialabank.
  • Loan To Value –Vijaya Bank will use an LTV of up to 75% to decide your eligibility for a jewel loan after calculating the value of your jewellery. If you can take a loan sum that is less than your maximum LTV, Vijaya Bank will be able to give you a lower interest rate.

Vijaya Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows how much the Vijaya Gold Loan Per Gram will provide for different purity levels of gold jewellery at a higher 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

Vijaya Bank Gold Loan Rates Per Gram

The following table shows Vijaya Gold Loan Per Gram Rates – Jun 24 2021

Updated - Gold Loan Per Gram Rate w.e.f Jun 24 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 a major gold buyer in the world. Indians prefer gold because it is regarded as a “secure” investment. Traders keep an eye on the markets for price changes that could have an impact on 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
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 to get the highest Gold Loan Amount Per Gram from Vijaya Bank

  • For a gold loan, the Vijaya Bank accepts both hallmarked and non-hallmarked jewellery. The Vijaya Bank Gold Loan Per Gram provides the best service because appraisers are less likely to undervalue hallmark jewellery. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
  • In the price of 22-carat gold, the Vijaya 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.
    Vijaya gold loan per gram
  • The net weight of your jewellery determines the amount of gold loan you are liable for, according to Vijaya Bank. As much as possible, choose jewellery with the fewest gems and stones. Using the gold prices at the exchange, the net weight can be estimated. The overall weight and value of a piece of jewellery decreases as more diamonds and stones are added, 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 Vijaya Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.


gold loan

ILLUSTRATION: Gold purity, LTV, and gold weight are used to measure the loan amount. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and purity level. Ajay has 70 grammes of 18-carat gold in his possession. Abhishek has 60 grammes of 20-carat gold, while Jyoti has 50 grammes of 22-carat gold. They apply for a gold loan at the Vijaya Bank. Depending on the purity of gold, the price used to assess their gold loan amount eligibility based on a maximum LTV of 75% will vary, 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 Vijaya 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 Vijaya Bank.

What is a Vijaya Gold Loan?

The Vijaya Gold Loan is a service that is provided by the Vijaya where one can simply utilize the gold in their possession to apply for a gold loan and complete their needs. The Syndicate Bank also allows one with many advantages and rates of interest that anyone can afford.

Benefits of a Vijay Gold Loan

Gold loans have become very common due to the advantages that it provides. Some of the advantages of gold loan are as following:

  • Faster Processing: These are processed very fast as they don’t require much documentation. The fast disbursal of the gold loan makes it an incredible choice in case of any sort of problems.
  • Multipurpose loan: A gold loan can be used for any purpose, such as to pay for a wedding or medicines or repairs.
  • Low-interest rate: The interest rate decided by the bank for a gold loan is marginally low and affordable for the one who needs cash.
  • Low processing and foreclosure charges: Banks don’t charge any type of prepayment charges on gold loans although some banks might charge some amount.
  • No income proof and credit score:  Banks and non-banking financial companies don’t need the CIBIL score of a person to approve a loan.
  • Easily Accessible: Gold loans are accessible to anybody who’s age is over18 who can apply for a gold loan.
  • High Amount Eligibility: With the cost of gold increasing, and the rising gold cost has been further assisting borrowers with bettering gold advance rate per gram.

Types of Vijaya Gold Loan Interest Rates

The numerous types of gold loans provided by Syndicate are:

  • Fixed-rate of interests:  The rate of interest for such loans is very decent throughout the loan term.
  • Floating rate of interest: The interest rate of the gold loans isn’t fixed and changes frequently. In such a situation, the loan cost is related to the outside benchmarks that are decided by the bank. Since the rate isn’t fixed, the EMI on Gold credit might go up or down out of a sudden.
  • Reason for Lending: The interest rate on gold loans is usually seen as the motivation behind loaning. The banks usually propose a lower pace of revenue for any kind of horticultural gold credit.
  • Non-Agricultural Gold Loans: Loans stretched out to one who is not an agriculturist are known as nonfarming gold advances. These loans are available to all the individuals such as salaried, independently employed experts, financial specialists, ladies, females, housewives, understudies, etc.

How to Apply for a Vijay Gold Loan?

If you wish to apply for a Vijay Gold Loan, you can do it in two ways:

Offline Process

To avail of a Gold Loan, one can find the closest branch of the Vijay Bank and take the support of the staff to apply for a gold loan at the bank.

Online Process

You can apply for a gold loan with Dialabank by following the steps mentioned below to get a Gold Loan as per your need.

  • Complete the registration online at Dialabank’s website.
  • Our Relationship Manager will reach you and direct you in fulfilling your financial needs.
  • You will get personalized service, which will give you the choice to compare and take the best deal according to your needs without any other charges.

Vijay Gold Loan Customer Care Number

The Vijay Gold Loan customer care number is 9878981166

FAQs About Vijay Gold Loan Per Gram

✅ What is today’s gold loan rate per gram?

The gold loan rate per gram is Rs. 4,676 for 24-carat gold, Rs. 4,373 for 22-carat gold, Rs. 3,975 for 20-carat gold and Rs. 3,578 for 18-carat gold.

✅ Does a gold loan have any specific eligibility requirements?

The eligibility criteria for a gold loan is as follows:

  1. the applicant has to be between 18 to 70 years, at the time of loan maturity
  2. the applicant or his/her family member should own gold ranging between 18 to 22 carats
  3. the applicant should be an Indian resident.

✅ Why are gold loans better?

Gold loans are as better if:

  1. They do not depend on the borrower’s credit history and CIBIL score.
  2. They do not need a minimum income
  3. They don’t require much documentation
  4. They are secure and hence cheaper

✅ What documents do I need for a gold loan? 

Only the basic documents such as identity proof, address proof, signature proof, and 2 photos of the applicant will be required.

✅ Should I worry about my gold?

As your pledged gold is safely kept in the banks’ lockers according to the national standards you have no reason to worry. Electronic surveillance technologies are also deployed, with well-trained staff.

✅ How do I repay my gold loan?

After availing of a gold loan, you will have to make monthly EMI payments to the banks until the tenure is completed, a failure to do which would affect your credit score negatively. These payments can be made through cash/ DD/ cheque or even online transactions.

✅ What is LTV in a loan against gold?

LTV is Loan to Value Ratio, which is basically the amount of loan you can get against gold as collateral. In India, LTV for a loan against gold is set at 75% by RBI for all the banking and non-banking financial companies.

✅ How much loan can I get on 10 grams of gold?

Depending upon the purity of gold a person can avail of a loan amount between Rs.18,500 and Rs. 27,000 on 10 grams of gold.

✅ What is the margin in a loan against gold?

Banks maintain a margin of at least 25% in the case of loans against gold. If a person can avail a maximum of 75% of their gold’s market value as the loan amount. For example, if your gold is priced at Rs. 1 Lakh in the market then banks will offer you a maximum loan amount of Rs. 75,000.