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Yes Bank Gold Loan Per Gram

Yes Bank Gold Loan Calculator

Last Updated 16th Feb 2021
Eligibility Criteria Yes Bank Gold Loan
Gold Loan per gram ₹ 2,514 to ₹ 3,072 depending on the purity of gold
Age of Borrower 18 - 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 36 months
Lowest EMI Per Lakh ₹ 3,226
Apply for Gold Loan @ 9.50%* Get upto ₹ 500* Cashback

Yes Bank Gold Loan Per Gram

Yes 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, Yes Bank offers a gold loan per gram of ₹ 2,514 to ₹ 3,072. Highest Yes Bank gold loan rate per gram today is ₹ 3,072 for 22 carat jewellery calculated at a maximum LTV of 85% and average gold loan prices of last 30 days in 2021 is ₹ 4,551 of 22 carat.

Gold Loan Calculator Yes Bank

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

Yes Bank Gold Loan Rate Per Gram by Gold Purity

The following table gives an approximate estimate of gold loan per gram Yes 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 Yes Bank best Gold Loan per gram Yes Bank lowest Gold Loan per gram
22 carat₹ 45,514₹ 3,072₹ 2,663
20 carat₹ 41,376₹ 3,072₹ 2,420
18 carat₹ 37,238₹ 2,514₹ 2,178

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

  • Gold loan per gram in Yes Bank offer for 22 carat jewelry will be between ₹ 2,663 to ₹ 3,072
  • Yes Bank gold loan per gram offer for 20 carat jewelry will be between ₹ 2,420 to ₹ 3,072
  • Gold loan per gram offer of Yes Bank for 18 carat jewelry will be between ₹ 2,178 ₹ 2,514

Tips to Get Best Gold Loan Amount Per Gram from Yes Bank

  • Yes 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.
  • Yes 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.
  • Yes 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. Yes 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, Yes 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. Yes 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 Yes Bank 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, Yes 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, Yes 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 Yes Bank by opting to pledge a high purity gold jewelry.

Yes Bank Gold Loan EMI Calculator

Gold Loan EMI of Yes Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Yes Bank 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 Yes Bank is ₹ 3,226 per lakh loan amount at lowest gold loan interest rate of 9.99%. Gold loan EMI of Yes Bank depends upon:

  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 36 months gold loan from Yes Bank at interest rate of 9.99% per annum, EMI will be ₹ 3,226 per ₹ 1 Lakh loan amount. At interest rate of 14.50% for the same loan, the EMI will be ₹ 3,442
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 9.99% per annum, the EMI would range from ₹ 17,156 to ₹ 3,226 for loan tenure ranging from 6 months to 36 months

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

Gold Loan EMI for ₹ 1 Lakh loan amount at lowest 9.99% interest rate offered by Yes Bank for different tenures

6 months 12 months24 months36 months
Yes Bank EMI for a loan amount Rs. 1 lakh at 9.99% 17,156 8,791 4,614 3,226
Total amount you pay back to the bank including principal and interest 1.03 Lakh 1.05 Lakh 1.11 Lakh 1.16 Lakh
Interest you have to pay over loan tenure 2,936 5,492 10,736 16,136

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 36 months, the lowest EMI you will pay of ₹ 3,226. However, you pay an interest of ₹ 16,136 on a ₹ 1 Lakh loan.

In comparison, if you take a ₹ 1 Lakh loan from Yes Bank at the lowest interest rate for a period of 6 months, your monthly EMI will be as high as ₹ 17,156 and pay an interest of only ₹ 2,936 which is less than what you paid in a 36 months loan. Hence, you must choose your loan tenure wisely as longer tenure leads to high interest cost.

Other Loan Calculators

FAQs

What is the age limit required for gold loan from Yes Bank?

The minimum age should be 18 years and maximum age should be up to 65 years.

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

Yes Bank gives gold loan to the applicants for a maximum tenure of 36 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 Yes Bank. Yes Bank does not allow customer to borrow against gold bars, exchange traded funds and ladies mangal sutra.

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

Yes Bank charges a processing fee of 0.75% or Rs 500 to 799, whichever is higher on gold loan.


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Yes Bank Gold Loan News - Mar 2021
  • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
    Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
  • 2020-07-28 : Yes Bank reported a net profit of 45. 44 crore for June quarter
    YES Bank posted a 60.05% year-on-year fall in net profit at Rs 45.44 crore for the quarter ended June 30. The Bank had posted a net profit of Rs 113.76 crore in the corresponding quarter last year. Deposits at Rs 1,17,360 crore grew 11.4% QoQ aided by 26.4% QoQ growth in current account deposits and 12.6 per cent QoQ growth in term deposits which includes fixed and recurring deposits. CASA ratio stood at 25.8%. Further, Net interest income was at Rs 1,908 crore bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans.
  • 2020-07-06 : YES Bank introduces instant loan disbursement facility
    Private lender, Yes Bank has launched an instant loan disbursement facility. The facility will help the retail customers like that of home, personal, gold, two-wheeler, and car loan to apply for the loan in a smooth and fast manner.
  • 2019-06-28 : Yes Bank’s mPOWER BOT helping customers to avail instant loans
    The chatbot powered by Yes Bank, mPOWER is gaining immense popularity these days as it is helping the customers to avail instant loans. The customers can avail loans including personal loan, auto loan, business loan, car loan and mortgage loans within no time. Using this bot, the lender has also seen a rise in the number of loan transactions during the previous years.
  • 2019-04-30 : Yes Bank to focus on growing retail and SME loans
    Private sector lender, Yes Bank has said that it is driving its focus towards increasing retail loans including personal loans and gold loans. For this purpose, the lender will try to introduce some new marketing strategies and new loan products to lure its entire customer base.
*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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