Manappuram Agriculture Gold Loan

Manappuram Agriculture Gold Loan Features and Benefits

Manappuram offers Agriculture Gold Loan at interest rates starting from 7% per annum. The maximum amount an individual can borrow is Rs. 1.5 crores. The loan repayment tenure is from 15 months to a maximum of 36 months, which is 3 years.

Manappuram Bank Agriculture Gold loan calculator 

• Net weight and purity of the gold: The banks are said to be using their in-house valuer to do a complete assessment of the purity and the total percentage and weight of gold in your jewellery. The gold used in the jewellery should be of purity of 18 to 24 carats if you want to avail of a loan. The bank also reduces the weight of gems and stones and only calculates the weight of the gold from that.
• The price of the gold: After the lender makes an approximation about the purity and the total weight of the gold in your jewellery. RBI has given out instructions to the banks to keep in hand the past 30 days average price o 22-carat gold adjusted for the purity of gold.
• Loan to value ratio: After the value of the jewellery has been calculated, the bank would apply an LTV of up to 75% to make a total calculation of your jewel loan amount eligibility.

Manappuram Agriculture Gold Loan Eligibility

There are certain requirements that are required to be fulfilled to avail a agriculture gold loan:

• The applicant should have attained at least 18 years of age
• The individual should have his own gold ornaments or articles that can be pledged
• The gold to be pledged should be 18 carats or above
• The applicant should have a decent CIBIL score

Documents Required for Manappuram Agriculture Gold Loan

Manappuram Agriculture Gold Loan Rate Per Gram by Gold Purity

The following table provides us with an approximate estimation of the gold loan per gram which Manappuram would be offering for gold jewellery with varying purity rates.

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

Manappuram Agriculture Gold Loan Interest Rates Per Gram

The following table gives us the Manappuram Gold Loan Rate Per Gram- Updated Jan 19 2025

Historical Gold Loan Rates Per Gram

Indians are the world’s largest consumers of gold. They believe that investing in gold would be more helpful in the future, which is why it is this metal that occupies a significant amount of the imports in the country.

Major Banks Agriculture Gold Loan Per Gram Rate Comparison

Tips to Get The Highest Agriculture Gold Loan Amount from Manappuram 

• Manappuram accepts both kinds of jewellery that are hallmarked as well as non-hallmarked jewellery for availing of a gold loan. You can get a higher amount as your loan if you pledge hallmark jewellery. And some banks also charge lower processing fees for hallmarked gold jewellery.
• The bank adjusts the price of gold based on its purity. Therefore always try and borrow money against the higher purity jewellery as it will give you the highest amount for gold loan.
• Manappuram would calculate the total weight of the jewellery to calculate the amount that you would get as a loan. So, make sure you choose to pledge jewellery that has minimal stones and gems and more gold. This is because having more stones would reduce the weight of the gold present in the jewellery. Most of the diamond jewellery is usually made in 16-18 carat of gold and hence, would result in you availing a very low gold loan per gram.
• Try your best to get the maximum LTV on the value for gold. The bank is allowed by the RBI to demand a maximum LTV of up to 75% to calculate the exact amount of gold loan that you would be 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 carats. Mr B has 60 gram of gold with a purity of 20 carats and Mr C has 50 grams of gold with purity or 22 carats. They approach Manappuram to avail of a gold loan. The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 75% will vary by the purity of gold and hence, will result in varying gold loan eligibility.