Manappuram Gold Loan Per Gram

• 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 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 100% 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 70 gram of gold with a purity of 18 carat. Mr. B has 60 gram of gold with a purity of 20 carat and Mr. C has 50 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 100% 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	70	18	₹ 3.43 Lakh
Mr. B	60	20	₹ 3.26 Lakh
Mr. C	50	22	₹ 2.99 Lakh

As noted in the illustration above, Manappuram will offer the lowest gold loan rate of ₹ 2.99 Lakh to Mr. C who has lowest gold weight of 50gm.

In the same illustration, Manappuram will offer the highest gold loan amount to Mr. A at Rs ₹ 3.43 Lakh, because he has the highest gold weight.

✅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 100% 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 3 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 ₹ 10 (to be paid at time of settlement) on gold loan.