MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹ 500* on Gold Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Manappuram Gold Loan Per Gram

Manappuram Gold Loan Calculator

Last Updated 08th Jan 2021
Eligibility Criteria Manappuram Gold Loan
Gold Loan per gram ₹ 2,529 to ₹ 3,092 depending on the purity of gold
Age of Borrower 18 years
Maximum Loan Amount ₹ 1 Cr
Maximum Loan to Gold Value Ratio Up to 75%
Purity of Eligible gold 18 carat to 22 carat gold
Maximum Loan Tenure 12 months
Lowest EMI Per Lakh ₹ 8,885
Apply for Gold Loan @ 9.50%* Get upto ₹ 500* Cashback

Manappuram Gold Loan Per Gram

Manappuram 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, Manappuram offers a gold loan per gram of ₹ 2,529 to ₹ 3,092. Highest Manappuram gold loan rate per gram today is ₹ 3,092 for 22 carat jewellery calculated at a maximum LTV of 75% and average gold loan prices of last 30 days in 2021 is ₹ 4,580 of 22 carat.

Gold Loan Calculator Manappuram

MyLoanCare’ s Manappuram 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. Manappuram 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, Manappuram 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, Manappuram 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, Manappuram 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, Manappuram may offer you a lower interest rate.

Manappuram Gold Loan Rate Per Gram by Gold Purity

The following table gives an approximate estimate of gold loan per gram Manappuram 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 Manappuram best Gold Loan per gram Manappuram lowest Gold Loan per gram
22 carat₹ 45,800₹ 3,092₹ 2,679
20 carat₹ 41,636₹ 3,092₹ 2,436
18 carat₹ 37,473₹ 2,529₹ 2,192

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

  • Gold loan per gram in Manappuram Bank offer for 22 carat jewelry will be between ₹ 2,679 to ₹ 3,092
  • Manappuram Bank gold loan per gram offer for 20 carat jewelry will be between ₹ 2,436 to ₹ 3,092
  • Gold loan per gram offer of Manappuram Bank for 18 carat jewelry will be between ₹ 2,192 ₹ 2,529

Tips to Get Best Gold Loan Amount Per Gram from Manappuram

  • Manappuram 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.
  • Manappuram 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.
  • Manappuram 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. Manappuram 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, Manappuram 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. Manappuram is allowed by RBI to charge a maximum LTV of up to 75% 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 Manappuram to avail a gold loan. The price applied to calculate their gold loan amount eligibility based on maximum LTV of 75% 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 ₹ 2.06 Lakh
Mr. B 60 20 ₹ 2.25 Lakh
Mr. C 70 18 ₹ 2.36 Lakh

As noted in the illustration above, despite having the highest weight of gold, Manappuram will offer the lowest gold loan rate of ₹ 2.06 Lakh due to lower purity of gold at 22 carat.

In the same illustration, Manappuram will offer the highest gold loan amount to Mr. A at ₹ 2.36 Lakh, despite having the lowest weight of gold. Hence, clearly one can improve the gold loan amount eligibility from Manappuram by opting to pledge a high purity gold jewelry.

Manappuram Gold Loan EMI Calculator

Gold Loan EMI of Manappuram is a fixed amount that you pay each month towards the repayment of your jewel loan. Manappuram offer EMI scheme on gold loan. The following table is illustrative and is applicable only if the bank offers EMI scheme on gold loan. Lowest EMI offered by Manappuram is ₹ 8,885 per lakh loan amount at lowest gold loan interest rate of 12.00%. Gold loan EMI of Manappuram depends upon:

  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 12 months gold loan from Manappuram at interest rate of 12.00% per annum, EMI will be ₹ 8,885 per ₹ 1 Lakh loan amount. At interest rate of 29.00% for the same loan, the EMI will be ₹ 9,700
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 12.00% per annum, the EMI would range from ₹ 1,00,033 to ₹ 8,885 for loan tenure ranging from 1 day to 12 months

Use EMI Calculator to calculate your interest on gold loan at different tenure

Gold Loan EMI for ₹ 1 Lakh loan amount at lowest 12.00% interest rate offered by Manappuram Bank for different tenures

6 months 12 months
Manappuram EMI for a loan amount Rs. 1 lakh at 12.00% 17,255 8,885
Total amount you pay back to the bank including principal and interest 1.04 Lakh 1.07 Lakh
Interest you have to pay over loan tenure 3,530 6,620

As you can see in the above table that longer the loan tenure, lower is the EMI you pay on gold loan. However, your total interest outgo is significantly higher in case of long tenure loan. In the above example, if you take a ₹ 1 Lakh loan for a period of 12 months, the lowest EMI you will pay of ₹ 8,885. However, you pay an interest of ₹ 6,620 on a ₹ 1 Lakh loan.

In comparison, if you take a ₹ 1 Lakh loan from Manappuram at the lowest interest rate for a period of 6 months, your monthly EMI will be as high as ₹ 17,255 and pay an interest of only ₹ 3,530 which is less than what you paid in a 12 months loan. Hence, you must choose your loan tenure wisely as longer tenure leads to high interest cost.

Other Loan Calculators


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

The minimum age should be 18 years.

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

The maximum loan that you can avail is up to 75% of the market value of the gold depending on the quality of the gold.

What is the loan tenure of Manappuram gold loan?

Manappuram gives gold loan to the applicants for a maximum tenure of 12 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 Manappuram. Manappuram does not allow customer to borrow against gold bars, exchange traded funds and ladies mangal sutra.

How much processing fee is applicable in Manappuram gold loan?

Manappuram charges a processing fee of Rs. 10 (to be paid at time of settlement) on gold loan.

Notification ×
  • Lowest Gold Loan Interest Rates

    Instant Gold Loan Offer starting at lowest rate of 9.50%.

    Apply Now
  • Cashback on Gold Loan

    Low Rate Gold Loans with Cashback of upto ₹₹ 500.

    Apply Now
  • KYC Approval on Gold Loan

    Get KYC based Approval on Gold loan. No Income proof or Credit Score check required.

    Check Eligibility
  • Nil Foreclosure Charges on Gold Loan

    SBI Gold Loan upto 90% of value of gold with zero foreclosure charges.

    Check Eligibility
  • Loan Against Property

    Best Loan Against Property Offers starting @ 9.50%. Cashback of upto ₹ ₹ 500.

    Apply Now
Manappuram Gold Loan News - Feb 2021
  • 2020-11-20 : Manappuram Finance fined by the Central Bank
    Due to the non-compliance with the regulations on gold jewellery ownership inspection, the bank levied a penalty of ₹ 5 lakh against the lender. As of 31st March 2019, the company regulatory review concerning its financial condition showed a violation of its directions.
  • 2020-11-09 : Mannapuram Q2 Net profit falls 6% at Rs 405 cr
    Mannapuram Finance reported 16.57% rise in the Sep-20 quarter top-line sales revenues backed by gold loan at Rs1,565.58cr. Net profits for the quarter as measured by PAT was down 6.36% at Rs 405.44cr.
  • 2020-07-30 : Manappuram Finance Ltd reported a net profit of Rs. 368.11 crore in Q1FY2021
    Manappuram Finance Ltd posted nearly 38% increase in its consolidated net profit at Rs 367.97 crore in the first quarter ended June of the current fiscal year. Further, the Bank reported total income bolstered gold of Rs.1516.47 crores. In addition to this, the bank reported that it’s gold loan portfolio grew by 33.44T% to Rs 17,736.79 crore during the quarter from Rs 13,292.41 crore a year ago.
  • 2019-11-07 : Manappuram Finance posts a profit of 82%
    As per the Q2 Results, Manappuram Finance reported an 82% increase in the consolidated profit for the year. The NBFC informed that its Gold Loan assets under Management increased to Rs 15,168.34 crores, by up to 20.45 percent.
  • 2019-08-19 : Manappuram Finance reports 35% growth in net profit this fiscal
    Gold loan NBFC, Manappuram Finance has witnessed an increase in the overall profit of 35%, with a net profit of 220% crore at hand. There is a significant rise in the company’s gold loan asset as well by 6.65%. The increase in profit is marked by an increase in gold loan business, which added 1.45 lakh new customers.
*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
Please wait while your information is being processed...