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Federal Gold Loan Eligibility Calculator

Federal Gold Loan Per Gram

Last Updated 25th Jun 2021
Eligibility Criteria Federal Gold Loan Eligibility
Gold Loan per gram ₹ 2,545 to ₹ 3,111 depending on the purity of gold
Age of Borrower 21 - 75 years
Maximum Loan Amount ₹ 75 Lakh
  • Federal Bank calculates the amount of gold loan you are eligible for based on the amount of gold you have, value and purity of the gold.
  • Federal offers a maximum LTV of up to 75% of gold’s market value.
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Federal Bank Gold Loan Per Gram Eligibility

Federal Bank gold loan per gram gives you an estimate of the loan amount you can get against your gold jewellery. You will get the loan based on the purity and gold price of your jewellery adjusted for loan to value ratio. Federal Bank gold loan per gram eligibility depends upon purity of the gold, your age and gold quantity.

As per the latest gold prices, Federal Bank offers a gold loan per gram of ₹ 2,545 to ₹ 3,111. Highest Federal Bank gold loan rate per gram today is ₹ 3,111 for 22 carat jewellery calculated at a maximum LTV of 75% and the average gold loan prices of last 30 days in 2021 is ₹ 4,609 of 22 carat.

Gold Loan Calculator Federal Bank

  • Purity and net weight of gold used in jewellery: Federal Bank uses their in-house valuer to assess the purity and net weight of gold in your jewellery. Gold used in the jewellery should be of a purity of 18 to 24 carats. Federal Bank can also reduce the weight of gems and stones from the jewellery to calculate the net weight of jewellery.
  • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewellery, Federal Bank will multiply it with past 30 days average price of 22 carat gold to calculate the value of gold. So, if the gold is of 20 carat purity, Federal Bank will apply the 30 days average of 22 carat gold multiplied by a factor of 20/22 to adjust the value of gold.You can also check today's gold rate in your city at MyLoanCare.
  • Loan to Value Ratio: Once the value of jewellery is calculated, Federal Bank will apply a LTV of up to 75% to calculate your jewel loan amount eligibility. If you are willing to take a loan amount lower than your maximum LTV, Federal Bank may offer you a lower interest rate.

Federal Bank Gold Loan Eligibility

  • Anyone who is above 18 years and below 70 years.
  • An applicant should be an Indian resident.
  • Must have gold jewellery of 18 carat to 22 carat.

How to check Federal Bank gold loan eligibility?

To check Federal Bank gold loan eligibility you can fill the gold loan eligibility calcualtor form with all details at MyLoanCare. Apart, To check Federal Bank gold loan eligibility on Federal Bank website perform the following steps:-

  • Go to the Federal Bank website.
  • Now go to Federal Bank gold loan.
  • Use gold loan eligibility calculator to check eligibility.
  • Fill the required details like loan amount required, weight of gold, age etc.

Also you can contact the bank by calling on their customer care number.

Federal Bank Gold Loan Rate Per Gram by Gold Purity

Federal Bank gold loan eligibility is dependent on the purity of gold jewellery that you have. The following table gives an approximate estimate of gold loan per gram Federal Bank will offer against gold jewellery of different purity levels at a maximum LTV of 75% and lower LTV of 65%.

Gold Purity Gold rate per gram- average of past 30 days Federal Bank best Gold Loan per gram Federal Bank lowest Gold Loan per gram
22 carat₹ 46,090₹ 3,111₹ 2,696
20 carat₹ 41,900₹ 3,111₹ 2,451
18 carat₹ 37,710₹ 2,545₹ 2,206

The above table shows the method by which Federal Bank will calculate your per gram gold loan for gold of varying purity.

  • Gold loan per gram in Federal Bank offer for 22 carat jewellery will be between ₹ 2,696 to ₹ 3,111
  • Federal Bank gold loan per gram offer for 20 carat jewellery will be between ₹ 2,451 to ₹ 3,111
  • Gold loan per gram rate of Federal Bank for 18 carat jewellery will be between ₹ 2,206 to ₹ 2,545

Tips to Get Best Gold Loan Amount Per Gram from Federal Bank

  • Federal Bank accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get highest gold loan per gram for hallmark jewelry. Also, some banks charge a lower processing fees on hallmarked gold jewellery.
  • Federal Bank adjusts the price of 22 carat gold for purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for gold loan.
  • Always, try to choose jewellery which has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from total weight of jewellery. Federal Bank will rely on the report of his gold valuer to calculate the net weight.
  • Federal Bank will not accept diamond jewellery if the gold used is of less than 18 carat purity. Most of the diamond jewellery is made in 16 carat to 18 carat gold and hence, will result in very low gold loan per gram.
  • Always try to get the maximum LTV on the value of gold. Federal 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.

How can I get a gold loan from Federal Bank?

You can get a gold loan from Federal Bank either online or offline, depending upon your convienence. For the online process, you can visit the official website of Federal Bank and apply for a gold loan. In addition to that, you can give a missed call to Federal Bank at their customer care number 1800-425-1199/ 1800-420-1199. For the offline process, you can visit the nearest Federal Bank branch and fill up the Federal Bank gold loan application form, You can also apply for a Federal Bank gold loan at online marketplaces like MyLoanCare, where you can compare Federal Bank gold loan offer with other top lenders and choose the best option for you.

FAQs

What is the age limit required for gold loan from Federal Bank?

The minimum age should be 21 years and maximum age should be up to 75 years.Based on your age, Federal Bank decides upon your gold loan tenure that can range up to 12 months years.

What is the eligibility for Federal Bank gold loan?

To avail a Federal Bank gold loan you must be a citizen of India between 21 years to 75 years of age. He/should also have a gold jewellery which has purity above 18 carat. Federal Bank gold loans are easy to avail as you can avail these loans, even without a good cibil score.

What is the maximum loan amount that I can avail on gold loan from Federal Bank?

The maximum loan that you can avail from Federal Bank is 75% of the market value of the gold depending on the quality of the gold.However, ensure that the gold fits the purity mark of minimum 18 carats of gold and is hallmarked. Before availing a gold loan from Federal Bank ensure checking the current gold rate per gram, to get a good sum on your gold.

What is the loan tenure of Federal Bank gold loan?

Federal Bank gives gold loan to the applicants for a maximum tenure of 6 months to 12 months. So, the borrower should be sure about the repayment capacity of the loan. To plan your gold loan prepayments within this tenure, you can use Federal Bank gold loan emi calculator.

What kind of gold items are accepted and rejected as a security?

Gold ornaments with carats in the range of 18 to 24 and weight of more than 50 grams are accepted by Federal Bank. Federal Bank does not allow customer to borrow against gold bars, exchange traded funds and ladies mangal sutra.

Do I need a co-applicant to get a gold loan from Federal Bank ?

No, you do not need a co-applicant to get a gold loan from Federal Bank . To get a gold loan you only need to have gold jewellery and a stable source of income. Value of your gold, purity marks and your age, are key requirements to avail a gold loan from Federal Bank . Thus, you can get a gold loan easily without a co-applicant, when you own the gold.

How much processing fee is applicable in Federal Bank gold loan?

Federal Bank charges a processing fee of Nil on gold loan.Processing fee on Federal Bank gold loan can vary from customer to customer depending upon the gold loan eligibility. In addition to that, you can also negotiate the Federal Bank gold loan processing fee, if you are an existing customer of Federal Bank.


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Federal Gold Loan News - Jul 2021
  • 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
    Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020.
  • 2020-07-16 : Federal Bank Q1 net profit up 4.3%
    Federal Bank net profit backed by retail loans like home, personal, gold, car and two-wheeler along with business and mudra loans rose by 4.3% to Rs 400.77 crore in Q1 June 2020 over Q1 June 2019. Further, The Bank total deposits which include fixed and recurring deposits reached Rs 1,54,937.74 crore in Q1 June 2020, registering a 16.9% growth from Q1 June 2019.
  • 2020-07-06 : Federal Bank focuses on gold loans amid Covid-19
    Federal Bank is targeting the safer gold loans amid the Covid-19 and economic woes. The bank is hoping to grow faster than last year in this credit option as demand for other loan option seems to reduce and Businesses are opting for gold loans to tide over COVID-induced liquidity crunch.
*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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