Maharashtra Gramin Bank Gold Loan Per Gram

Maharashtra Gramin Bank Gold Loan Per Gram Today is ₹ 72,800 to ₹ 78,350

Maharashtra Gramin Bank is an Indian Regional Rural Bank or Gramin bank based in the Maharashtra state, with its headquarters in Aurangabad. The two RRBs, Aurangabad Jalna Gramin Bank and Thane Gramin Bank, were merged into a single RRB called Maharashtra Godavari Gramin Bank by the Government of India in a notification dated March 25, 2008. Furthermore, it is one of India’s 56 Gramin banks, which are government-supported and seek to introduce banking services to rural areas. Apart from that, the company’s branch network is located in six Maharashtra regions: Aurangabad, Beed, Latur, Nanded, Parbhani, and Thane.

The Maharashtra Gramin Bank was established by the Bank of Maharashtra.

Gold Loan Calculator Maharashtra Gramin Bank

• The purity and net weight of gold in your jewellery will be determined by the Bank’s in-house quality surveyor. The gold used in the jewellery should be about 18 to 24 carats pure.
• To adjust the value of gold, the Bank will use a 30-day average of 22-carat gold multiplied by a factor of 20/22. You can also lookup the current gold price.
• The Bank will use an LTV of up to 75 per cent to calculate your jewel loan sum eligibility once the value of your jewellery has been determined.

Maharashtra Gramin Bank Gold Loan Rate Per Gram by Gold Purity

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

The rates for a gold loan per gram are seen in the table above. And these differ depending on the gold’s carat.

Maharashtra Gramin Bank Gold Loan Rates Per Gram

Historical Gold Loan Rates Per Gram

Indian gold buyers are among the world’s most involved, with the precious metal contributing for a significant portion of the total imports. Investors keep a close watch on the markets for shifts in price that affect demand.

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to getting Best Gold Loan Amount Per Gram from Maharashtra Gramin Bank

• The Bank supports both hallmarked and non-hallmarked jewellery for a gold loan.
• Borrowing against higher purity jewellery would also get you much more money when it comes to a gold loan.
• To calculate the amount of gold loan you are eligible for, the Bank will weigh the net weight of your jewellery.
• The lower the net weight and value of a piece of jewellery, the lower the amount of jewel loan you are liable for.
• On gold, it’s typical to look for the maximum possible LTV. When determining the amount of gold loan you are eligible for, the RBI allows the Bank to charge a cumulative LTV of up to 75%.

Example: The loan sum is determined by the purity of gold, the LTV, and the weight of gold. Assume Mr Ram and his two mates, Mr Kesav and Mr Ashwith, each own differing quantities of gold of various purity. Mr Ram owns 70 grammes of gold with an 18-carat purity. Mr Kesav has 60 grammes of gold that is 20 carats pure, while Mr Ashwith has 50 grammes of gold that is 22 carats pure. They apply for a gold loan. The price used to determine their gold loan sum eligibility based on a maximum LTV of 75% would vary depending on the purity of gold, resulting in different gold loan eligibility.

Mr Ashwith, who has the smallest gold weight of 50gm, will receive the lowest gold loan rate of 2.27 Lakh from the Bank, as seen in the illustration above. Since Mr Ram has more gold weight, the Bank will give him the highest gold loan sum of Rs 2.60 lakh in the same example.

Maharashtra Gramin Bank Gold Loan Per Gram FAQs

✅ What is the Maharashtra Gramin Bank Gold Loan scheme?

Maharashtra 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 Maharashtra Gramin Bank and other leading banks and non-banking financial companies. The current rate for Maharashtra Gramin Bank Gold Loan Per Gram is ₹ 3,506 to ₹ 4,621.

✅ How much Gold Loan can I get per gram in Maharashtra Gramin Bank?

Maharashtra Gramin Bank Gold Loan Per Gram Depends upon the weight and purity of your gold. Maharashtra Gramin Bank Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

✅ How is Maharashtra Gramin Bank Gold Loan Per Gram calculated?

The Maharashtra Gramin Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. Maharashtra Gramin Bank Gold Loan Per Gram interest rate is then calculated based on several factors: loan amount, loan tenure, relationship with the lender, and loan to value ratio.