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Gold Loan Eligibility Calculator

Gold Loan Per Gram: Eligibility Calculator

Last Updated 02nd Jul 2022
Gold Loan Per Gram ₹ 0 to ₹ 0
Eligible Age 18 to 75 years
Loan Amount Eligibility ₹ 1,000 to ₹ 2,00,00,000
Lowest Gold Loan Interest Rates 9.00%
  • Today’s gold loan rate per gram is ₹ 0 for 22-carat gold, ₹ 0 for 20-carat gold and ₹ 0 for 18-carat gold.
  • Compare and Gold Loan eligibility criteria online to get the best offers of gold loan interest rates based on gold loan rate per gram and gold purity.

Video: Gold Loan Benefits, Eligibility, Documents & Process

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Compare Gold Loan Rate Per Gram of All Banks

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Bank Interest Rate Eligible Loan Amount for Max Tenure
SBI Gold Loan Eligibility
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7.70% ₹ 50 Lakh for 36 months
Muthoot Gold Loan Eligibility
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6.90% ₹ 8 Lakh for 36 months
Manappuram Gold Loan Eligibility
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7.00% ₹ 10 Lakh for 6 Months
HDFC Bank Gold Loan Eligibility
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9.00% ₹ 10 Lakh for 24 months
Yes Bank Gold Loan Eligibility
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9.99% ₹ 10 Lakh for 36 months

Gold Loan Eligibility Calculator

Gold loan eligibility calculator is an online tool which helps you know your gold loan eligibility. Gold loan per gram eligibility is calculated based upon your age, type of gold, and weight of gold. In addition, it calculates the maximum loan amount that you are eligible for and how much EMI you can pay. The eligibility calculator is convenient and easy to use. By using it you can also check for which banks you are eligible.

Age 18 Years is the minimum age and 75 Years is the maximum age to apply for a gold loan.
Note: However, many banks require a minimum age of 23 years
Loan Amount
  • Up to ₹ 20 Lakh
  • Interest rates are lower for a higher loan amount
Employment Type
  • Salaried, self-employed, businessmen, senior citizen, housewives
Gold Quality
  • Gold ornaments should range in between 18 to 24 Carats
  • An average gold price of 22-carat gold for the preceding 30 days is adjusted down for gold purity.
CIBIL Score
  • CIBIL score is not required
Gold Articles that can be used for availing loan
  • Gold bars and coins
  • Gold with 18-24 carat purity
Employment track record and income proofs
  • Banks do not check job stability and only require KYC documents

How to Calculate Gold Loan Eligibility?

You can calculate gold loan eligibility in two ways:

  • Using MyLoanCare Eligibility Calculator: Gold loan per gram eligibility can easily be calculated using our gold loan eligibility calculator. You are only required to fill in details like Name, Contact number, Monthly income, Place of residence, Weight in gold and Verify OTP. Based on inputs, you will get the bank offers for which you are eligible. We will then process your gold loan application based on the best available offer and your preference.
  • Directly approaching the Banks and NBFCs: You can also check eligibility by contacting the bank or NBFC from whom you want to take a gold loan. You can use the gold loan calculator of lenders as well. For a gold loan applicant, navigating through multiple banks websites and talking to their agents may become a cumbersome task.

How to Use MyLoanCare’s Gold Loan Eligibility Calculator?

To calculate eligibility at MyLoanCare, use the following steps:-

  • Go to the Gold loan eligibility calculator.
  • Fill the form with information like Name, mobile number, weight in grams etc.
  • Click ‘Check Eligibility’.
  • Enter OTP (One Time Password).
  • Click ‘Get Offers’.
  • You will get offers as per the details pre-filled by you.
  • finally, a MyLoancare Advisor will contact you shortly.

Gold Loan Eligibility Per Gram

Gold Loan calculator calculates the gold loan eligibility per gram based on the total weight of the jewellery, level of gold purity, past 30 days average price of 22-carat gold and loan to value offered by your bank. As per today’s gold prices, the highest jewel loan per gram against 22-carat gold is ₹ 0 per gram. You require 30 days average price of 22 carat gold for calculating the gold loan eligibility per gram. The 30 days average price of 22 carat gold has to be adjusted down for adjusting for gold purity before multiplying it with the LTV. As per the table below, as of 22nd Dec 2021, the past 30 days average price of 22 carat gold is ₹ 46,992.

  • 30 days average price of 22 carat gold has to be adjusted down for a level of gold purity before multiplying it with the LTV.
  • In the table below, as of 02nd Jul 2022, the past 30 days average price of 22 carat gold is .
Gold Purity Past 30 days average price of gold per 10 grams Maximum LTV Gold Loan per gram of gold
22 carat 0 75% 0
20 carat 0 75% 0
18 carat 0 75% 0

If you take a loan against 22 carat gold, you will be eligible for a gold loan rate of ₹ 0 per gram as per the average fold prices for the last 30 days and a maximum LTV of 75%. However, you will be eligible for a lesser loan per gram of jewellery if you take a loan against 10 grams of 18 carat gold. If you take a loan against 18 carat gold, you will be eligible for a gold loan of ₹ 0 per gram of gold as the past 30 days price of 22 carat gold has to be adjusted down to the price of 18 carat gold and then multiplied by the maximum LTV applicable.

How to Make Repayment of Gold Loan EMI?

You can repay the gold loan EMI using online and offline modes such as net banking or mobile banking, NEFT/RTGS, cheques or standing instructions at the end of the loan tenure. In addition, the lenders also allow you to prepay the gold loan account before the predetermined loan tenure.

Check Gold Loan Interest Rates Of Different Banks

FAQs

When should you opt for a Gold Loan?

You should opt for a gold loan in the following situations:

  • You need the loan on an extremely urgent basis for a relatively short period of time.
  • If you want to avoid extensive paperwork or have no income proof to avail of a loan. This loan requires only basic KYC documents.
  • Have no or low credit history.
  • If you possess gold jewellery that you are willing to hypothecate.
  • If you want to reduce the all-inclusive cost of borrowing. Gold Loans typically carry nil processing fees and prepayment penalties, thus reducing the overall cost of the loan.

How is gold loan eligibility calculated?

Lenders calculate your gold loan eligibility purely based on the weight and purity of gold submitted by you. They do not check any other demographics parameters such as income, work experience, employment etc. The banks, however, do check CIBIL score for gold loans of a high amount, typically more than Rs 1 lakh loan, before sanctioning an application. You can use an online Gold Loan Eligibility calculator to know the maximum amount you can get against your gold at the current gold price.

Are gold loans available as doorstep loans?

Yes, you can apply for a gold loan sitting at home if you fulfil gold loan eligibility criteria. There are many lenders like Muthoot, Manapurram, HDFC bank, Axis bank who offer digital gold loans. You can also avail of a digital gold loan with MyLoanCare. Only one visit is required to your nearest branch to deposit the gold, once you finalise the lender.

Is CIBIL required for a gold loan?

No CIBIL score is not a parameter for gold loan eligibility. Except in cases where you are borrowing a high gold loan amount running in a few lakhs. Gold loans can be availed even if you are unemployed and have no banking or income statement. However, you must own gold in the form of jewellery with purity marks above 18 carats. Note, that while the credit score is not important to avail gold loans, repaying gold loans on time can boost your score.

How much loan can I get on 50-gram gold?

The gold loan amount depends on the gold loan per gram rate and purity of gold. So, currently, the gold loan per 10 gram is . On 50 gram gold, you can get 75% of the gold loan per gram and that will be ₹ 0.

What is the eligibility criteria for a gold loan in ?

To avail gold loan, you need to fulfil the eligibility criteria for age, purity and weight of gold. For instance, you should have a minimum and maximum age of 18 years and 65 years. In addition, the pledged gold should be between 18 to 22 K.

Is there any need for a bill for a gold loan?

No, you do not require your bill of gold jewellery for a gold loan as the lenders do a gold assessment check for evaluating the quality and weight of gold.

Is pan card compulsory for gold loan?

Yes, it is mandatory to submit a PAN Card to avail a gold loan. In addition, you also require other documents such as current address proof and 2 photographs.


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Gold Loan News - Jul 2022
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    Punjab National Bank has increased the rates on gold loans, and as a result, the bank offers the lowest rates starting at 7.55%. Earlier, the rate was 7.25%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
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    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
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  • 2022-05-10 : Canara Bank Hikes Gold Loan Interest Rates
    The bank has increased the lowest gold loan rates by 40 basis points from 7.25% to 7.65%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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