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HDFC Gold Loan Per Gram

HDFC Gold Loan Calculator

Last Updated 12th Feb 2021
Eligibility Criteria HDFC Gold Loan
Gold Loan per gram ₹ 2,502 to ₹ 3,058 depending on the purity of gold
Age of Borrower 21 - 65 years
Maximum Loan Amount ₹ 50 Lakh
Maximum Loan to Gold Value Ratio Up to 85%
Purity of Eligible gold 18 carat to 22 carat gold
Maximum Loan Tenure 24 months
Lowest EMI Per Lakh ₹ 4,591
Apply for Gold Loan @ 9.50%* Get upto ₹ 500* Cashback

HDFC Gold Loan Per Gram

HDFC Bank gold loan per gram gives you an estimate of the amount of loan you can get against your gold jewellery. You will get loan on the basis of the purity and gold price of your jewelry adjusted for loan to value ratio.
As per the latest gold prices, HDFC Bank offers a gold loan per gram of ₹ 2,502 to ₹ 3,058. Highest HDFC Bank gold loan rate per gram today is ₹ 3,058 for 22 carat jewellery calculated at a maximum LTV of 85% and average gold loan prices of last 30 days in 2021 is ₹ 4,531 of 22 carat.

Gold Loan Calculator HDFC

MyLoanCare’ s HDFC Gold Loan Calculator gives you an estimate of the amount of gold loan you can avail basis the following factors.

  • Purity and net weight of gold used in jewelry: The bank will use their in-house valuer to assess the purity and net weight of gold in your jewelry. Gold used in the jewelry should be of a purity of 18 to 24 carats. HDFC Bank will also reduce the weight of gems and stones from the jewelry to calculate the net weight of jewelry. The valuer will give his findings in writing.
  • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewelry, HDFC Bank will multiply it with the price of gold to calculate the value of gold. RBI has instructed banks to apply the past 30 days average price of 22 carat gold adjusted for purity of gold. So, if the gold is of 20 carat purity, HDFC 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 at MyLoanCare.
  • Loan to Value Ratio: Once the value of jewelry is calculated, HDFC Bank will apply a LTV of up to 85% to calculate your jewel loan amount eligibility. If you are willing to take a loan amount lower than your maximum LTV, HDFC Bank may offer you a lower interest rate.

HDFC Gold Loan Rate Per Gram by Gold Purity

The following table gives an approximate estimate of gold loan per gram HDFC Bank will offer against gold jewelry 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 HDFC Bank best Gold Loan per gram HDFC Bank lowest Gold Loan per gram
22 carat₹ 45,306₹ 3,058₹ 2,650
20 carat₹ 41,187₹ 3,058₹ 2,409
18 carat₹ 37,068₹ 2,502₹ 2,168

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

  • Gold loan per gram in HDFC Bank offer for 22 carat jewelry will be between ₹ 2,650 to ₹ 3,058
  • HDFC Bank gold loan per gram offer for 20 carat jewelry will be between ₹ 2,409 to ₹ 3,058
  • Gold loan per gram offer of HDFC Bank for 18 carat jewelry will be between ₹ 2,168 ₹ 2,502

Tips to Get Best Gold Loan Amount Per Gram from HDFC

  • HDFC Bank accepts both hallmarked and non-hallmarked jewelry for getting a gold loan. However, you can get highest gold loan per gram for hallmark jewelry, as it reduces the chances of under-valuation by the valuer. Also, some banks charge a lower processing fees on hallmarked gold jewelry.
  • HDFC Bank adjusts the price of 22 carat gold for purity of gold. Hence, always try to borrow against higher purity jewelry as it will fetch you the highest amount for gold loan.
  • HDFC Bank will calculate the net weight of jewelry to calculate the amount of loan against gold you can get. Always, try to choose jewelry which has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from total weight of jewelry. HDFC Bank will rely on the report of his gold valuer to calculate the net weight. Higher the weight of gems and stones in jewelry, lower the net weight and value of jewelry which results in lower amount of jewel loan you can are eligible to get Further, HDFC Bank will not accept diamond jewelry if the gold used is of less than 18 carat purity. Most of the diamond jewelry 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. HDFC Bank is allowed by RBI to charge a maximum LTV of up to 85% to calculate the amount of gold loan you are eligible for.

ILLUSTRATION: The loan amount eligibility is decided on the basis of purity of gold, LTV and weight of gold. Suppose Mr. A and his two friends Mr. B and Mr. C own different amounts of gold with varying purity. Mr. A has 50 gram of gold with a purity of 22 carat. Mr. B has 60 gram of gold with a purity of 20 carat and Mr. C has 70 grams of gold with a purity or 22 carat. They approach HDFC to avail a gold loan. The price applied to calculate their gold loan amount eligibility based on maximum LTV of 85% will vary by the purity of gold and hence, will result in varying gold loan eligibility.

Carats / Weight of gold Gold Weight (in gm) Purity of Gold (in carat) Gold Loan Eligibility
Mr. A 50 22 ₹ 2.34 Lakh
Mr. B 60 20 ₹ 2.55 Lakh
Mr. C 70 18 ₹ 2.68 Lakh

As noted in the illustration above, despite having the highest weight of gold, HDFC Bank will offer the lowest gold loan rate of ₹ 2.34 Lakh due to lower purity of gold at 22 carat.

In the same illustration, HDFC Bank will offer the highest gold loan amount to Mr. A at ₹ 2.68 Lakh, despite having the lowest weight of gold. Hence, clearly one can improve the gold loan amount eligibility from HDFC Bank by opting to pledge a high purity gold jewelry.

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FAQs

What is the age limit required for gold loan from HDFC?

The minimum age should be 21 years and maximum age should be up to 65 years.

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

The maximum loan that you can avail is up to 85% of the market value of the gold depending on the quality of the gold.

What is the loan tenure of HDFC Bank gold loan?

HDFC Bank gives gold loan to the applicants for a maximum tenure of 24 months. So, the borrower should be sure about the repayment capacity of the loan.

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 HDFC Bank. HDFC does not allow customer to borrow against gold bars, exchange traded funds and ladies mangal sutra.

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

HDFC Bank charges a processing fee of 1.50% of the loan amount on gold loan.


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HDFC Gold Loan News - Feb 2021
  • 2021-01-18 : HDFC Bank net profit rose by 18%
    HDFC Bank net profit grew by 18% over a year ago in the December-ended quarter on the back of improved net interest income. Advances which include home, personal, car, two-wheeler and gold loans along with business and mudra loans during the quarter rose 15.6% year-on-year to Rs 10.82 lakh crore. Deposits which includes FD and RD grew by 19% from last year to Rs 12.7 lakh crore. Further, The CASA ratio for the bank stood at 43%.
  • 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
    HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020.
  • 2020-11-12 : HDFC Bank launched SmartHub Merchant Solutions 3.0
    HDFC Bank has launched a comprehensive banking and payment solution for merchants, SmartHub Merchant Solutions 3.0. The product offers the facility of instant account opening and merchant setup, applying for a loan like home, personal, car, two-wheeler, and gold loan along with business and mudra loans. In addition to this, it also offers credit cards.
  • 2020-10-12 : HDFC Bank introduced festive offers for rural India
    HDFC Bank is offering special festive offers for its rural and semi-urban markets. Customers will get special deals on all banking products from loans to bank accounts. This includes home loans, 2-wheeler loans, car loans, tractor loans, gold loans or business growth loans. Customers can avail of flat 5% to 15% off in various categories of products.
  • 2020-10-07 : HDFC Bank net profit jumps 18.4% to ₹7,513 crores
    HDFC Bank reported an 18.4% increase in its net profit to ₹7,513 crores for the quarter ended in September 2020. The profit in the year-ago period was at ₹6,345 crores. The bank’s total advances were at ₹10.38 lakh crore in Q2 of FY21, an increase of 15.8% over the same period last year. The domestic retail loans which include retail loans like home, personal, car, two-wheeler, gold and education loan grew by 5.3% and domestic wholesale loans including the business and mudra loan grew by 26.5%. Further, total deposits which include FD and RD reported an increase of 20.3% (YoY) to ₹1,325,072 crore. HDFC bank CASA ratio stood at around 42% as of September 202O.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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