Gold Loan Per Gram

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Gold is the precious and valuable metal that a person holds. Especially in India, Gold is the most celebrated metal. India also has a significant gold holding in the world. Gold loan per gram is basically the amount of loan which applicant gets on a single gram of gold.

What is Gold Loan?

So are you in need of funds and your salary is not enough to get the required loan, If you have enough Gold of more than 10 grams, so your problem can be fulfilled quickly? In order to avail Gold Loan, the person needs to keep their Gold as collateral with the bank, and in return of that Gold, the bank gives you money which is about 70-75% of the total gold loan amount. As and when you repay the loan, your Gold will be given back to you in the same quality and quantity.

Are you in a situation in which you want to claim a Gold Loan, but you are facing a problem in understanding how much amount of Gold Loan can be employed with the quantity and quality of Gold you are having? So, you can clear this confusion by knowing how much Gold Loan can be availed by per gram of Gold. The Gold Loan per Gram of different banks is detailed below.

HDFC Gold Loan per Gram

HDFC is one of the top banks currently operating in India. HDFC commenced in the year 1994. HDFC was the first private bank to get approval from RBI to provide various financial services to its customers in India. HDFC has multiple branches all over India, so you can avail your gold loan easily by approaching the nearest office to you.

The amount of gold loan depends on the quantity and the quality of your Gold. The table is given below explains the Gold Loan per gram that can be availed from HDFC Bank:

Purity Gold Loan /10 gram Gold Loan Per Gram
18 carats  Rs.16,000 Rs. 1,600
19 Carats  Rs.17,000 Rs. 1,700
20 Carats  Rs.18,000 Rs. 1,800
21 Carats  Rs.19,000 Rs. 1,900
22 Carats  Rs.20,800 Rs. 2,800

Note: The applicant must have the gold of minimum of 10 grams to get the loan.

ICICI Bank Gold Loan Per Gram

ICICI Bank is currently the 3rd largest bank in India. It was established in the year 1999. From the year 1999, the bank has been providing its financial services to various customers.  This bank was the first bank from India to be listed in NYSE.

This bank is also trusted by various customers for availing the various type of loans. Let us check the Gold Loan Per Gram that can be availed from ICICI Bank:

Purity Per Gram Gold loan/ 10 gram Gold Loan Per Gram
18 Carats Rs 15,500 Rs 1,550
19 Carats Rs 16,500 Rs 1650
20 Carats Rs. 17,500 Rs 1750
21 Carats Rs 18,500 Rs 1850
22 Carats Rs 20,300 Rs 2300

Note: The applicant must have the Gold of minimum of 10 grams in order to get the loan.

Yes Bank Gold Loan Per Gram

Yes bank has was founded in the year 2004. This bank has grown a lot in the previous years. The Yes Bank provides various Financial services to its customers in addition to providing gold loan to its customers. The Gold loan applying procedure is also straightforward here, so the Old Loan Per Gram that the Yes Bank provides is:

Purity Per Gram Gold loan/ 10 gram Gold Loan Per Gram
18 Carats Rs 15,200 Rs 1,520
19 Carats Rs 16,200 Rs 1620
20 Carats Rs. 17,200 Rs 1720
21 Carats Rs 18,200 Rs 1820
22 Carats Rs 20,000 Rs 2000

Note: The applicant must possess a gold of minimum of 10 grams in order to get the loan.

Muthoot Gold Loan Per Gram

Muthoot Financial Ltd. is India’s leading Gold financing company. The company provides a wide range of financial services to its customers, like wealth management, money transfer, foreign exchange services, etc. It has more than 4400 operational branches all over the country, and its headquarter is in Kerela. Muthoot Finance is the first choice of applicants who want to claim a Gold Loan. The Gold Loan Per Gram of Muthoot Finance are listed below.

Purity Per Gram Gold loan/ 10 gram Gold Loan Per Gram
18 Carats Rs 16,000 Rs 1,500
19 Carats Rs 17,000 Rs 1700
20 Carats Rs. 17,500 Rs 1750
21 Carats Rs 18,000 Rs 1800
22 Carats Rs 19,500 Rs 1950

Note: The Loan applicant must have at least 10 grams of Gold to avail the loan.

SBI Gold Loan Per Gram

State Bank Of India is the most successful and the top bank of India. It is a public sector bank which provides its services to the customers since 1955. Its headquarter is in Mumbai, and it is the most powerful bank after Reserve Bank Of India.  SBI has the highest number of employees. Gold Loan is also a part of the financial service which is provided by SBI.

The various Gold Loan per gram rates of SBI are:

Purity Per Gram Gold loan/ 10 gram Gold Loan Per Gram
18 Carats Rs 16,400 Rs 1,640
19 Carats Rs 17,200 Rs 1720
20 Carats Rs. 18,500 Rs 1850
21 Carats Rs 19,000 Rs 1900
22 Carats Rs 20,500 Rs 2550

Note: The Loan applicant must have at least 10 grams of Gold to avail the loan.

Benefits of Gold Loan:

  1. Interest Rates of gold loans are quite low and reasonable as compared to other investments like personal and house loans.
  2. Secondly, the process of taking a loan is very speedy.
  3. As an outcome, you are free to use the loan amount of gold loan in any way you like.
  4. Likewise, the gold loan is the safest and secured way of getting money.
  5. In addition to this, the gold loans are highly liquid, which help the customer in easy convertibility
  6. Also, the documentation process is straightforward. It requires a few documents to qualify for the loan.
  7. Furthermore, there are no credit checks.
  8.  Lastly, repayment schemes are straightforward