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Fincare Bank Gold Loan Eligibility Calculator

Fincare Bank Gold Loan Per Gram

Last Updated 21st Apr 2022
Eligibility Criteria Fincare Bank Gold Loan Eligibility
Fincare Bank Gold Loan per gram ₹ 2,669 to ₹ 3,262 depending on the purity of gold
Age of Borrower 18 - 70 years
Maximum Loan Amount ₹ 40 Lakh
  • Fincare Small Finance Bank calculates the amount of gold loan you are eligible for based on the amount of gold you have, the value of gold per gram and the gold’s purity.
  • Fincare Bank offers a maximum LTV of up to 90% of gold’s market value.
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Fincare Bank Gold Loan Eligibility

Fincare 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 a loan to value ratio. Fincare Small Finance Bank gold loan per gram eligibility depends upon the purity of the gold, your age and gold quantity.

As per the latest gold prices, Fincare Small Finance Bank offers a gold loan per gram of ₹ 2,669 to ₹ 3,262. Highest Fincare Small Finance Bank gold loan rate per gram today is ₹ 3,262 for 22 carat jewellery calculated at a maximum LTV of 90% and the average gold loan price of the last 30 days in 2022 is ₹ 4,832 of 22 carat.

Gold Loan Calculator Fincare Small Finance Bank

You can calculate the eligibility for a gold loan using an online Fincare Bank Gold Loan Calculator. The calculator determines Fincare Bank Gold Loan Per Gram Eligibility based on factors mentioned below:

  • Purity and net weight of gold used in jewellery: Fincare Small Finance Bank uses their in-house valuer to assess the purity and net weight of gold of your jewellery. Gold used in the jewellery should be of purity of 18 to 24 carats. Fincare Small Finance 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, Fincare Small Finance Bank will multiply it with the past 30 days average price of 22 carat gold to calculate the value of gold. So, if the gold is of 20 carat purity, Fincare Small Finance Bank will apply the 30 days average of 22 carat gold multiplied by a factor of 20/22 to adjust the value of gold.
  • Loan to Value Ratio: Once the value of jewellery is calculated, Fincare Small Finance Bank will apply an LTV of up to 90% to calculate your jewel loan amount eligibility. If you are willing to take a loan amount lower than your maximum LTV, Fincare Small Finance Bank may offer you a lower interest rate.

How to Check Fincare Bank Gold Loan Eligibility?

To check Fincare Bank gold loan eligibility you can fill out the gold loan eligibility calculator form with all details at MyLoanCare. Here are steps to check your Fincare Small Finance Bank gold loan eligibility:

  • Visit MyLoanCare and gold loan tab. .
  • Enter required details such as Name, Mobile Number, Loan Amount Required, Weight of Gold and Email ID.
  • Click on Check Eligibility.
  • Complete OTP authentication and you can view the best offers based on your eligibility. 

You can also check Fincare Small Finance Bank gold loan eligibility on Fincare Small Finance Bank's website or contact the bank by calling on their customer care number.

Fincare Bank Gold Loan Rate Per Gram by Gold Purity

Fincare Small Finance Bank gold loan eligibility is dependent on the purity of gold jewellery that you have. The following table gives an approximate estimate of the gold loan per gram Fincare Small Finance 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 Fincare Small Finance Bank best Gold Loan per gram Fincare Small Finance Bank lowest Gold Loan per gram
22 carat₹ 48,320₹ 3,262₹ 2,827
20 carat₹ 43,928₹ 3,262₹ 2,570
18 carat₹ 39,535₹ 2,669₹ 2,313

The above table shows how Fincare Small Finance Bank will calculate your per gram gold loan for gold of varying purity.

  • Gold loan per gram in Fincare Small Finance Bank offer for 22 carat jewellery will be between ₹ 2,827 to ₹ 3,262
  • Fincare Small Finance Bank gold loan per gram 2022 offer for 20 carat jewellery will be between ₹ 2,570 to ₹ 3,262
  • Gold loan per gram rate of Fincare Small Finance Bank for 18 carat jewellery will be between ₹ 2,313 to ₹ 2,669

Tips to Get Best Gold Loan Amount Per Gram from Fincare Small Finance Bank

  • Fincare Small Finance Bank accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get the highest gold loan per gram for hallmark jewelry. Also, some banks charge lower processing fees on hallmarked gold jewellery.
  • Fincare Small Finance 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 that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. Fincare Small Finance Bank will rely on the report of his gold valuer to calculate the net weight.
  • Fincare Small Finance 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 a very low gold loan per gram.
  • Always try to get the maximum LTV on the value of gold. Fincare Small Finance Bank is allowed by RBI to charge a maximum LTV of up to 90% to calculate the amount of gold loan you are eligible for.

How can I Get a Gold Loan from Fincare Small Finance Bank after Checking the Eligibility?

You can get a gold loan from Fincare Small Finance Bank either online or offline, depending upon your convenience. For the online process, you can visit the official website of Fincare Small Finance Bank and apply for a gold loan. In addition to that, you can give a missed call to Fincare Small Finance Bank at their customer care number . For the offline process, you can visit the nearest Fincare Small Finance Bank branch and fill up the Fincare Small Finance Bank gold loan application form.

To get the best offers on Fincare Small Finance Bank gold loan you can also apply for a Fincare Small Finance Bank gold loan at online marketplaces like MyLoanCare, where you can compare Fincare Small Finance Bank gold loan offer with other top lenders and choose the best option for you. To apply for Fincare Small Finance Bank gold loan, fill the online gold loan application form with your personal details and requirements related to the loan. Our representative will then contact you for best offers based on your eligibility.

FAQs

What is the age limit required for a gold loan from Fincare Small Finance Bank?

The minimum age should be 18 years and the maximum age should be up to 70 years. Based on your age, Fincare Small Finance Bank decides upon your gold loan tenure that can range up to 9 Months.

Does CIBIL score matter to get a gold loan from Fincare Small Finance Bank?

No, Fincare Small Finance Bank does not check your CIBIL to provide gold. However, if you repay your gold loan on time, you can improve the CIBIL.

What is the eligibility for an Fincare Bank gold loan?

To avail an Fincare Bank gold loan, you must be a citizen of India between 18 years to 70 years of age. You should also have gold jewellery which has purity above 18 carat. Fincare Bank gold loans are easy to avail of as you can avail of these loans, even without a good CIBIL score.

What is the maximum loan amount that I can avail on gold loan from Fincare Small Finance Bank?

The maximum loan that you can avail of from Fincare Small Finance Bank is 90% of the market value of the gold depending on the quality of the gold. However, ensure that the gold fits the purity mark of a minimum of 18 carats of gold and is hallmarked. Before availing of a gold loan from Fincare Small Finance Bank, ensure checking the current gold rate per gram to get a good sum on your gold.

What is the loan tenure of the Fincare Bank gold loan?

Fincare Bank gives gold loans to the applicants for a maximum tenure of 9 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 the Fincare Bank gold loan EMI calculator

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

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

Do I need a co-applicant to get a gold loan from Fincare Small Finance Bank?

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

How much loan amount I can get on 22ct 100 grams of gold jewellery from Fincare Small Finance Bank?

Fincare Small Finance Bank gold loan per gram for 22 K gold is ₹ 3,104 and for thus, for 100 gms, the gold loan per gram will be ₹ 3,10400. The amount for the loan you can avail from Fincare Small Finance Bank will further depend on LTV, which is 75% of the market’s gold value. In addition, Fincare Small Finance Bank offers a maximum loan amount of upto Rs.50 lakh.


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Fincare Bank Gold Loan News - May 2022
  • 2021-03-09 : Fincare expecting 10-20% growth in 2020-2021
    Despite the pandemic, Fincare Small Finance is expecting a 10% -20% growth in 2020-2021. The Small finance bank serves over 25.6 lakh customers in 19 states/territory with a workforce of 7,910 people.The size of the deposits is around Rs 5, 200 crore and the loan asset size is around Rs 5, 400 crore.
*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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