Mizoram Rural Bank Agriculture Gold Loan

Mizoram Rural Bank Agriculture Gold Loan is ₹ 72,800 to ₹ 78,350

Mizoram Rural Bank Agriculture Gold Loan Calculator

• Purity and net weight of gold used in jewellery: The purity of the gold used in jewellery should be between 18 and 24 carats. The appraiser has the ability to keep track of anything.
• To calculate its value, the purity and net weight of gold in your jewellery will be multiplied by the gold price at the bank. The Reserve Bank of India’s 30-day average price of 22-karat gold, adjusted for purity, has been recommended to Indian banks. Therefore, a 30-day total of 22-carat gold will be multiplied by the amount of 20-carat gold compounded by a 20/22 ratio.
• After determining the value of your jewellery, Mizoram Rural Bank will use an LTV of up to 75% to determine your eligibility for a jewel loan. Mizoram Rural Bank might be able to give you a lower interest rate if you take a loan amount that is less than your maximum LTV.

Mizoram Rural Bank Agriculture Gold Loan Loan Eligibility

Documents Required for Mizoram Rural Bank Agriculture Gold Loan

Mizoram Rural Bank Agriculture Gold Loan Documents for Salaried Individuals

Mizoram Rural Bank Agriculture Gold Loan Documents for Self-Employed Individuals

Mizoram Rural Bank Agriculture Gold Loan Documents for Self-Employed Non-Individuals:

Mizoram Rural Bank Agriculture Gold Loan Documents for Partnership Firms/Societies

Mizoram Rural Bank Agriculture Gold Loan Documents for Private Limited/Limited Companies

Mizoram Rural Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

The table below shows how much a Mizoram Rural Bank Agriculture Gold Loan will provide for various purity levels of gold jewellery at a higher LTV of 75% and a lower LTV of 65%.

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

Mizoram Rural Bank Agriculture Gold Loan Interest Rates Per Gram

The following table shows Mizoram Rural Bank Agriculture Gold Loan Per Gram Rates – May 24 2021

Historical Gold Loan Rates Per Gram

Insight into possible volatility can be gained by studying the gold rate trend in India, allowing for more informed investment decisions. The central bank’s stability, market supply and demand, quantitative easing, government reserves, the health of the jewellery industry, and total annual production, to name a few, all influence the gold rate. Take a look at the following comprehensive historical gold loan rates per gram:

Major Banks Agriculture Gold Loan Per Gram Rate Comparison

Tips to Get The Highest Agriculture Gold Loan Amount from Mizoram Rural Bank

• For a gold loan, the Mizoram Rural Bank accepts both hallmarked and non-hallmarked jewellery. The Mizoram Rural Bank Agriculture Gold Loan provides the best service because appraisers are less likely to undervalue hallmark jewellery. Furthermore, some financial institutions charge lower transaction fees for hallmarked gold jewellery.
• The purity of 22-carat gold is factored into the Mizoram Rural Bank Agriculture Gold Loan. As a result, to get the most money for a gold loan, borrow against higher-purity jewellery if at all necessary.
• According to Mizoram Rural Bank, the net weight of your jewellery determines the amount of gold loan you are liable for. As much as possible, choose jewellery with the fewest gems and stones. Gold exchange rates can be used to measure the net weight. 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.
• In gold, it’s common practice to aim for the maximum possible LTV. The RBI has granted Mizoram Rural Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan.

Mizoram Rural Bank Agriculture Gold Loan FAQs

✅ What is the interest rate for Mizoram Rural Bank agriculture gold loan?

Mizoram Rural Bank Agricultural Gold Loans start at an interest rate of 7% per annum. For Mizoram Rural Bank Agricultural Gold Loan, you need agricultural land and cultivation along with the basic documents such as an Aadhaar Card/PAN Card.

✅ What is Mizoram Rural Bank Agri gold loan?

Mizoram Rural Bank Agri Gold Loan is a loan against gold, particularly for farmers, that are available for agricultural purposes. The loan amount disbursed under the Mizoram Rural Bank Agri gold loan can only be used for agricultural and allied activities. One has to present the proof of agricultural land and cultivation along with the basic documents required for the Mizoram Rural Bank Agri Gold Loan.

✅ How to pay Mizoram Rural Bank Agriculture Gold Loan Online?

You have an option to pay Mizoram Rural Bank Agriculture online through online repayment applications.

Read More: Best Methods of Repaying Gold Loan