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Manappuram Gold Loan Per Gram

Manappuram Gold Loan Calculator

Last Updated 23rd Apr 2021
Eligibility Criteria Manappuram Gold Loan
Gold Loan per gram ₹ 3,124 depending on the purity of gold
Age of Borrower 18 years
Maximum Loan Amount No Limit
  • A borrower can estimate the amount of gold loan by considering the factors like gold loan per gram, loan to value ratio and etc.
  • Manappuram offers a maximum LTV of up to 100% of gold’s market value.
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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 ₹ 3,124. Highest Manappuram gold loan rate per gram today is ₹ 3,124 for 22 carat jewellery calculated at a maximum LTV of 100%.

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 100% 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.

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 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.

Manappuram Gold Loan News - May 2021
  • 2021-02-02 : Mannapuram net profit rises 17% to Rs 483 crores
    Manappuram Finance posted a 17% year-on-year increase in its consolidated net profit for the third quarter of the current financial year to Rs 483.19 crore. The NBFC posted a standalone net profit of Rs 465.29 crore for its gold loan business, an increase of 39.28% from Rs 334 crore reported in the year-ago quarter.
  • 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.
*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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