Meghalaya Rural Bank Gold Loan Per Gram

Meghalaya Rural Bank Gold Loan Per Gram Today is ₹ 72,800 to ₹ 78,350

On January 27, 1982, Meghalaya Rural Bank was formed under Section 3 (1) of the RRB Act 1976. The Rural Bank is well aware of the critical position it plays in bolstering Meghalaya’s rural economy. Assist customers with their banking needs, encourage community development and participate in growth opportunities. Bank provides a wide selection of products at very low rates. You can apply online to receive financial services such as a Gold Loan in your village in order to get out of a bad financial situation.

Gold Loan Calculator Meghalaya Rural Bank

• The Bank’s in-house evaluator will determine the purity and net weight of gold in your jewellery. Then, the Bank will remove the weight of gems and stones from the total weight of the jewellery to calculate the net weight.
• After determining the purity and net weight of gold in your jewellery, the valuer multiplies it by the current gold price to determine its value.
• Once the value of your jewellery has been assessed, the Bank will use an LTV of up to 75% to estimate your jewel loan amount eligibility. If you are willing to take a loan sum less than your total LTV, they will be ready to offer you a lower interest rate.

Meghalaya Rural 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 gold loan values per gram are seen in the table above. And these are different depending on the carat of gold.

Meghalaya Rural Bank Gold Loan Rates Per Gram

Historical Gold Loan Rates Per Gram

Gold consumers in India are among the most active in the world, with this precious metal responsible for a large portion of the overall imports. Investors continue to focus on the markets for price changes that have an influence on the stock.

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to getting Best Gold Loan Amount Per Gram from Meghalaya Rural Bank

• The Bank supports both hallmarked and non-hallmarked jewellery for a gold loan.
• On the other hand, some banks charge lower transaction rates for hallmarked gold jewellery.
• Borrowing a loan for higher purity jewellery will also fetch you the highest money when considering a gold loan.
• Jewels with the fewest diamonds and stones available are preferred. The majority of banks will exclude the weight of gems and stones from the average weight of the jewellery.
• The Bank will not authorize it if the gold used in the jewellery is less than 18-carat purity.
• The RBI helps the Bank to calculate the amount of gold loan you owe by using 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.

Meghalaya Rural Bank Gold Loan Per Gram FAQs

✅ What is the Meghalaya Rural Bank Gold Loan scheme?

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

✅ How much Gold Loan can I get per gram in Meghalaya Rural Bank?

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

✅ How is Meghalaya Rural Bank Gold Loan Per Gram calculated?

The Meghalaya Rural Bank Gold Loan Per Gram amount depends upon the purity of one’s gold and the current market Gold Rate. Meghalaya Rural 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.