Gold Loan Amount Per Gram
Gold Loan per gram refers to how much money you can get for every gram of gold you use as collateral. The disbursal amount depends on the weight and purity of the gold. This type of loan is beneficial for many reasons. By availing a Gold Loan per gram, you can access instant cash at low interest rates without selling your gold or worrying about losing it forever. It acts as a financial safety net in times of need.
The loan amount available per gram is influenced by the current gold price for the applicable purity, the net weight of the gold pledged and the applicable loan-to-value (LTV) ratio. Since gold prices can change with market conditions, the loan amount available per gram may also vary. The final eligible amount is determined after valuation of the pledged gold and application of the applicable loan scheme terms.
Gold Loan Per Gram Calculator
Use our gold loan per gram calculator to check how much loan you can get instantly. Simply enter your details to get a quick and accurate estimate based on current gold rates.
Online Gold Loan Calculator
Gold loans starting at ₹10,000 with minimal paperwork.
Looking for an instant gold loan near me? Manappuram Finance offers an instant gold loan with quick approval, minimal paperwork, and fast disbursal through its extensive branch network.
Enter the amount and carat value to see how much gold is required.
Enter your gold weight (in grams) and carat value to see your eligible amount.
Gold Weight: 0 grams
Loan Amount: ₹0
Carat: 22
Tenure: 3 Months
Use the Gold Loan Per Gram Calculator to estimate the loan amount you may be eligible for based on your gold weight and purity. The result is indicative and the final loan amount is subject to gold valuation, applicable LTV and the selected loan scheme.
Benefits of Manappuram Gold Loan Per Gram
- Streamlined application process
- Instant approval and disbursal
- Higher loan amounts
- Secure storage of your gold
- A wide range of schemes
- Minimum requirements
- Multiple repayment options
How much loan can you get per gram?
The loan amount you can get per gram of gold depends on factors such as the current gold rate, purity of the gold, and the applicable loan-to-value (LTV) ratio. As per RBI guidelines, Manappuram Finance typically offer up to 85% of the gold’s market value for consupmtion loans and for higher loan amounts (higher LTV), additional documents like PAN card and income proof is required. Otherwise, these are not mandatory and depend on the selected loan option. For example, if the current gold rate is ₹10,000 per gram, you may be eligible for a loan of around ₹8,500 per gram (for 85% LTV), depending on the purity and lender policies. Use our gold loan per gram calculator to get an accurate estimate based on today’s gold rate.
Factors Affecting Gold Loan Rate Per Gram
- Demand and Supply: A high demand for gold reduces its supply. This causes prices to shoot up.
- Currency Fluctuations: When currency drops, gold becomes more valuable and expensive.
- Global Market Trends: Increased inflation and interest rates encourage people to invest in gold.
- Market Speculation: Market predictions and gold performance can also influence the gold prices.
- Gold Purity: Higher-purity gold generally has a higher valuation.
- Gold Weight: The net weight of eligible gold directly affects the total gold value considered for the loan.
- Current Gold Rate: The prevailing rate for the applicable purity influences the valuation.
- LTV Ratio: The applicable LTV determines the portion of the gold value that can be sanctioned as a loan.
- Market Conditions: Gold prices may vary based on prevailing market conditions and location-specific factors.
Eligibility Criteria for Applying for a Gold Loan
- Age: You must be older than 18 years of age.
- Collateral Specifics: The gold you pledge must be between 18 and 24 karats.
- Ownership: You must be the owner of the gold you are using as collateral.
Documents Required for Gold Loan
- One proof of identity, such as a driving license, PAN card, voter ID, Aadhaar card or passport.
- One document for residential proof.
The documents required may vary depending on the loan amount and selected loan scheme. Carry valid identity and address proof when applying. Additional documents may be required for specific loan options.
How to Calculate Gold Loan Per Gram?
Let us understand this with an example:
Assume that you have 5 grams of 22-carat gold against which you want to get a loan.
The gold rate per 1 gram is ₹8000. This means that your gold is worth ₹40,000 (8000X5).
Now, here is the important part. For consumption loans up to ₹2.5 lakh, loans may be offered up to an LTV ratio of 85%, as per RBI norms. (The ₹34,000 example that follows stays as is, since it is under ₹2.5 lakh.) With this calculation, you can borrow approximately ₹34,000 using your gold as collateral.
If you want to calculate your gold loan per gram quickly and easily, use Manappuram Finance Limited's Gold Loan Calculator .
This intuitive tool will give you an instant estimate of your Gold Loan amount. To use our calculator, enter the necessary details and click on "Calculate".
Know your gold's exact value? Apply now and get funds disbursed the same day.
Gold Loan Interest Rates and Loan Tenure
Our interest rates are compounding. We have a base rate of 24%. In addition to this, and customers can avail interest rebate based on the prompt interest payment.
In addition, our Gold Loans have a tenure of 365 days, which means you have ample flexibility of 12 months to repay your Gold Loan.
Gold Loan Schemes
| Scheme Name | Minimum Loan Amount | Monthly* | Bimonthly* | Quarterly* | Base Interest Rate | Annualised Rate of Interest |
|---|---|---|---|---|---|---|
| MT + 5 | Min ₹5 Lakhs | 9.90% | 17.00% | 22.00% | 24.00% | 26.82% |
| SA + 1 | Min ₹1.95 Lakhs | 11.50% | 20.00% | 24.00% | 24.00% | 26.82% |
| DS | Min ₹10,000 | 12.00% | 20.00% | 24.00% | 24.00% | 26.82% |
Note: The rate shown in the table is the interest rate (p.a.) payable by the customer if the interest is paid on monthly / bi-monthly / quarterly basis. Learn more about the interest rates of our gold loan schemes to make an informed decision.
Repayment
Bullet Payment: Repay the entire loan amount at once as a single lump-sum payment.
Part Payment: No more repayment stress. Make payments whenever it suits you.
The repayment method available depends on the selected gold loan scheme. Subject to the applicable terms and conditions, customers may make interest payments periodically and repay the principal amount as per the chosen repayment structure. Please review the applicable scheme terms before applying.
Gold Loan Per Gram FAQs
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