Narmada Jhabua Grameen Bank Gold Loan Per Gram

Narmada Jhabua Grameen Bank Gold Loan Per Gram is ₹ 3,800 to ₹ 4,350

The Narmada Jhabua Grameen Bank Gold Loan Per Gram scheme allows customers to apply for a gold loan using their own gold. You can get a Narmada Jhabua Grameen Bank Gold Loan Per Gram ranging from ₹ 3,800 to ₹ 4,350 depending on the purity of the gold collateral, I.e. 18 carats, 20 carats and 22 carats. However, it also depends on the market price of the yellow metal.

Gold Loan Calculator for Narmada Jhabua Grameen Bank

• Purity and net weight of gold used in jewellery: The purity and net weight of gold in your jewellery will be determined by the bank’s in-house valuer. The gold used in the jewellery should be between 18 and 24 carats pure. Jhabua Grameen Narmada To calculate the net weight, the bank will subtract the weight of gems and stones from the overall weight of the jewellery. The appraiser will keep a record of his results.
• Narmada Jhabua Grameen Bank will multiply the purity and net weight of gold in your jewellery by the price of gold to determine the worth of gold. The banks are instructed to use the average price of 22-carat gold over the previous 30 days, adjusted for purity. So, if the gold is 20-carat purity, Narmada Jhabua Grameen Bank can change the value of gold by using the 30-day average of 22-carat gold multiplied by a factor of 20/22. At Dialabank, you can also search the Gold Loan Rate Today.
• Loan to Value Ratio: After determining the value of your jewellery, Narmada Jhabua Grameen Bank will apply an LTV of up to 75% to determine your jewel loan amount eligibility. Narmada Jhabua Grameen Bank will give you a lower interest rate if you are willing to take a loan amount that is less than your maximum LTV.

Narmada Jhabua Grameen Bank Gold Loan Rate Per Gram by Gold Purity

The table below illustrates how much the Narmada Jhabua Grameen Bank Gold Loan Per Gram can 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

Narmada Jhabua Grameen Bank Gold Loan Rates Per Gram

The following table shows Narmada Jhabua Grameen Bank Gold Loan Per Gram Rates – Dec 14 2024

Historical Gold Loan Rates Per Gram

India is one of the world’s largest gold buyers. Gold is preferred by Indians because it is considered a “secure” investment. Traders keep an eye on the markets for shifts in price that could impact demand. Let us look at the detailed historical gold loan rates per gram mentioned below:

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to get Best Gold Loan Amount Per Gram from Narmada Jhabua Grameen Bank

• For a gold loan, Narmada Jhabua Grameen Bank embraces both hallmarked and non-hallmarked jewellery. However, for hallmark jewellery, you will get the highest gold loan per gramme because the valuer is less likely to undervalue it. Furthermore, some banks offer reduced transaction fees for hallmarked gold jewellery. In such a scenario, Narmada Jhabua Grameen Bank Gold Loan Per Gram is one of the best.
• Narmada Jhabua Grameen Bank Gold Loan Per Gram adjusts the price of 22-carat gold to account for purity. As a result, always aim to borrow against jewellery of higher purity, as this will get you the most money for a gold loan.
• Narmada Jhabua Grameen Bank will use the net weight of your jewellery to determine the amount of gold loan you are eligible for. Often choose jewellery with the fewest gems and stones possible. The weight of gems and stones will be deducted from the overall weight of the jewellery by the majority of banks. To measure the net weight, Narmada Jhabua Grameen Bank will depend on his gold valuer’s study. As more diamonds and stones are applied to a piece of jewellery, the total weight and value of the piece decrease, resulting in a lower amount of jewel loan you are eligible for. Narmada Jhabua Grameen Bank will not allow diamond jewellery if the gold used is less than 18-carat purity.
• Often aim to get the highest possible LTV on gold. The RBI has given Narmada Jhabua Grameen Bank permission to charge a maximum LTV of up to 75% when calculating the amount of gold loan you are eligible for.

ILLUSTRATION: The loan sum is calculated using gold purity, LTV, and gold weight. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and a different degree of purity. Ajay is in possession of 70 grammes of 18-carat gold. Jyoti has 50 grammes of 22-carat gold, and Abhishek has 60 grammes of 20-carat gold. They apply for a gold loan at Narmada Jhabua Grameen Bank. 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.

As shown in the example above, Jyoti, who has the smallest gold weight of 50gm, will earn the lowest gold loan rate of 2.27 Lakh from Narmada Jhabua Grameen Bank. Ajay will receive the highest gold loan amount of Rs 2.60 lakh from Narmada Jhabua Grameen Bank because he has the most gold weight.