Allahabad UP Gramin Bank Gold Loan Per Gram

Allahabad UP Gramin Bank Gold Loan Per Gram is ₹ 72,800 to ₹ 78,350

Gold Loan Calculator for Allahabad UP Gramin Bank

• Purity and net weight of gold used in jewellery: Gold should be between 18 and 24 carats pure when used in Allahabad UP Gramin Bank. The weight of gems and stones will be subtracted by Allahabad UP Gramin Bank from the overall weight of the jewellery to determine the net weight. The appraiser will keep track of his findings in a notebook.
• The purity and net weight of gold in your jewellery will be compounded by the current price of gold at Allahabad UP Gramin Bank to calculate its value. The Reserve Bank of India has advised Allahabad UP Gramin Bank and other banks to use the Reserve Bank of India’s 30-day average price of 22-carat gold, adjusted for purity. Allahabad UP Bank will adjust the value of 20-carat gold by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. You can also look up the latest gold rate at Dialabank.
• Loan To Value – Allahabad UP Gramin Bank will use an LTV of up to 75% to decide your jewel loan amount eligibility after calculating the value of your jewellery. If you can take a loan sum that is less than your maximum LTV, Allahabad UP Bank will give you a lower interest rate.

Allahabad UP Gramin Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows an estimate of the gold loan per gramme that Allahabad UP Gramin Bank will provide against gold jewellery of various purity levels at a maximum LTV of 75%.

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

• Gold loan per gram offer for 22-carat jewelry will be between ₹ 4,620 to ₹ 4,956
• Gold loan per gram offer for 20-carat jewelry will be between ₹ 3,795 to ₹ 4,178
• Gold loan per gram offer for 18-carat jewelry will be between ₹ 3,460 to ₹ 3,784

Allahabad UP Gramin Bank Gold Loan Rates Per Gram

The following table shows Allahabad UP Gramin Bank Gold Loan Per Gram Rates – Jan 14 2025

Historical Gold Loan Rates Per Gram

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to get the highest Gold Loan Amount Per Gram from Allahabad UP Gramin Bank

• Allahabad UP Gramin Bank accepts both hallmarked and non-hallmarked jewellery for a gold loan. If you have hallmark jewellery, the valuer is less likely to undervalue it, so you’ll get the best Allahabad UP Gramin Bank gold loan per gram. Furthermore, for hallmarked gold jewellery, certain financial institutions charge lower transaction fees.
• The Allahabad UP Gramin Bank Gold Loan Per Gram accounts for purity in the price of 22-carat gold. As a result, if at all possible, borrow against higher-purity jewellery to get the most money for a gold loan.
• Allahabad UP Gramin Bank will assess the amount of gold loan you are liable for based on the net weight of your jewellery. As much as possible, choose jewellery with the fewest gems and stones. The net weight will be determined by an examination performed by the gold valuers of Allahabad UP Gramin Bank. The overall weight and value of a piece of jewellery decrease as more diamonds and stones are added, resulting in a lower jewel loan you are eligible for.
• It’s standard practice in gold to strive for the highest possible LTV. When calculating the amount of gold loan you are eligible for, the RBI has given Allahabad UP Gramin Bank permission to charge a maximum LTV of up to 75%.

ILLUSTRATION: The loan amount is determined by the purity of gold, the LTV, and the gold weight. Assume that Krishna, Jay, and Meena has a different amount of gold and purity level. Krishna has 70 grammes of 18-carat gold in his possession. Jay has 60 grammes of 20-carat gold, while Meena has 50 grammes of 22-carat gold. They apply at Allahabad UP Gramin Bank for a gold loan. Depending on the purity of gold, the price used to assess their gold loan amount eligibility based on a maximum LTV of 75% will vary, resulting in different gold loan eligibility.

As shown in the example above, Meena, who has the smallest gold weight of 50gm, will earn the lowest gold loan rate of 2.27 Lakh from Allahabad UP Gramin Bank. Krishna will receive the highest gold loan amount of Rs 2.60 lakh from Allahabad UP Gramin Bank because he has the most gold weight.

Allahabad UP Gramin Bank Gold Loan Per Gram FAQs

✅ What is Allahabad UP Gramin Bank Gold Loan scheme?

Allahabad UP Gramin Bank gold loan is a scheme that provides a loan against your gold. Any person in need of quick lump sum money can avail of this facility that is offered by Allahabad UP Gramin Bank and other leading banks and non-banking financial companies. The current rate for Allahabad UP Gramin Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Allahabad UP Gramin Bank Gold Loan Per Gram can I get?

The Allahabad UP Gramin Bank Gold Loan Per Gram depends upon the purity of your gold. Currently, the Allahabad UP Gramin Bank Gold Loan Per Gram is between ₹ 3,506 to ₹ 4,621.

✅ How is Allahabad UP Gramin Bank Gold Loan Per Gram calculated?

The Allahabad UP Gramin Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market gold rate. Allahabad UP Gramin Bank Gold Loan Per Gram rate of interest is then calculated based upon a number of factors, including loan amount, loan tenure, relationship with the lender, and loan to value ratio.