Utkal Grameen Bank Gold Loan Per Gram

Utkal Grameen Bank Gold Loan Per Gram is ₹ 72,800 to ₹ 78,350

Utkal Grameen Bank Gold Loan Per Gram programme allows customers to apply for a gold loan using their own gold. The Utkal Grameen Bank has several advantages, including a low-interest rate.

Gold Loan Calculator for Utkal Grameen Bank

• Purity and net weight of gold used in jewellery: Gold should be between 18 and 24 carats pure as used in jewellery. The Utkal Grameen Bank Gold Loan Per Gram will deduct the weight of gems and stones from the overall weight of the jewellery to determine the net weight. The appraiser will keep track of his findings in a notebook.
• The gold price will compound the purity and net weight of gold in your jewellery at Utkal Grameen Bank to calculate its value. The (RBI) Reserve Bank of India’s 30-day average price of 22-karat gold, set for purity, has been recommended to Utkal Grameen Bank and all other Banks. To change the value of 20-carat gold, Utkal Grameen Bank will use the 30-day average of 22-carat gold multiplied by a factor of 20/22. 
• Loan To Value – Utkal Grameen Bank will use an LTV of up to 75% to assess your jewel loan amount eligibility after calculating the value of your jewellery. If you can take a loan sum that is less than your maximum LTV, Utkal Grameen Bank will give you a lower interest rate.

Utkal Grameen Bank Gold Loan Rate Per Gram by Gold Purity

The table below shows an estimate of the Utkal Grameen Bank Gold Loan Per Gram will provide against gold jewellery of various purity levels at a maximum 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

Utkal Grameen Bank Gold Loan Rates Per Gram

The following table shows Utkal Grameen Bank Gold Loan Per Gram Rates – Jan 16 2025

Historical Gold Loan Rates Per Gram

India is a major gold buyer in the world. Indians prefer gold because it is regarded as a “secure” investment. Investors keep a close eye on the markets for price changes that affect demand. Take a look at the following comprehensive historical gold loan rates per gram:

Gold Loan Per Gram Rate Comparison for Major Banks

Tips to get the highest Gold Loan Amount Per Gram from Utkal Grameen Bank

• Utkal Grameen Bank Gold Loan Per Gram accepts both hallmarked and non-hallmarked jewellery. If you have hallmark jewellery, the appraiser is less likely to undervalue it, resulting in the best gold loan per gramme from the Utkal Grameen Bank. Furthermore, for hallmarked gold jewellery, certain financial institutions charge lower transaction fees.
• The Utkal Grameen Bank Gold Loan Per Gram accounts for purity in the price of 22-carat gold. As a result, if possible, borrow against higher-purity jewellery to get the most money for a gold loan.
• The net weight of your jewellery will decide the amount of gold loan you are liable for, according to Utkal Grameen Bank. As much as possible, choose jewellery with the fewest gems and stones. The majority of banks will subtract the weight of gems and stones from the total weight of the jewellery. The net weight will be determined by the Utkal Grameen Bank’s gold valuers. 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.
• It’s standard practice in gold to strive for the highest possible LTV. When calculating the amount of gold loan you are eligible for, the RBI has given Utkal Grameen Bank permission to charge a maximum LTV of up to 75%.

ILLUSTRATION: The gold purity, the LTV, and the gold weight are used to calculate the loan amount. Assume that Ajay, Abhishek, and Jyoti each have a different amount of gold and purity level. Ajay has 70 grammes of 18-carat gold in his possession. Abhishek has 60 grammes of 20-carat gold, while Jyoti has 50 grammes of 22-carat gold. They apply to the Utkal Grameen Bank for a gold loan. Depending on the purity of gold, the price used to assess their gold loan amount eligibility based on a maximum LTV of 75% will vary, 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 Utkal Grameen Bank. Ajay will receive the highest gold loan amount of Rs 2.60 lakh from Utkal Grameen Bank because he has the most gold weight.

Utkal Grameen Bank Gold Loan Per Gram FAQs

✅ What is Utkal Grameen Bank Gold Loan scheme?

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

✅ How much Gold Loan can I get per gram in Utkal Grameen Bank?

Depending upon the purity of your gold. Utkal Grameen Bank Gold Loan Per Gram ₹ 3,506 to ₹ 4,621.

✅ How is Utkal Grameen Bank Gold Loan Per Gram calculated?

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