Gold Loan Per Gram

To calculate the gold loan amount, you will have to check the rate of gold on that particular day. This per gram gold rate is multiplied by the weight of the gold ornaments. Once you have the value of the gold ornaments you are going to pledge, you can calculate the loan amount using the LTV ratio of 75%. Usually, the LTV ratio for a gold loan is 75%. This means that the loan amount will be equivalent to 75% of the gold value. At Muthoot Finance, you can also calculate your eligibility for availing a gold loan by using the Gold Loan Calculator.

The purity of the gold ornaments you are going to pledge and the average market price of gold of that particular purity are two key factors that affect the per gram rates while availing a gold loan. The purer the gold is, the higher its value is going to be. For example, 22 karat gold ornaments have a higher value than 18-karat or 20 karat ones.

No, Gold Loan can be availed against the pledge of gold ornaments only.

The rate per gram of gold for gold loans depends on the quality of gold pledged and the lender. Lenders typically provide a percentage of the gold’s current market value as the loan amount, with the interest rate depending from lender to lender. The actual rate per gram can fluctuate based on the market conditions and specific terms the lender sets. For the most accurate rate per gram for gold loans, it is best to check directly with lenders or financial service providers.

Several factors affect the gold loan per gram rate, including the purity of the pledged gold, the market price of the gold, and the policies set by the lender. Additionally, interest rates, economic conditions, and the borrower’s creditworthiness are some of the factors that influence the loan rate. Local taxes and fees and demand and supply changes in the gold market also play a crucial role. Hence, always check with specific financial institutions for the most current and up-to-date rates.

The time in which you can get a gold loan per gram depends from lender to lender. Ideally, you can get a gold loan within a few hours to one business day if you choose to raise funds from Muthoot Finance. The process involves evaluating the purity of the gold, verifying personal information, and signing the loan agreement. Some banks and financial institutions offer instant loan approval and disbursement, which makes it easy for borrowers to get funds immediately when needed.

The interest rates for gold loans per gram vary from lender to lender. Muthoot Finance, a prominent lender, offers competitive rates that are hassle-free. Specific factors influencing the interest rate for gold loans include the loan amount, purity of the gold, borrower’s creditworthiness, and current market conditions. Hence, for the best deals, borrowers must compare rates, including Muthoot Finance, for the most accurate interest rates.

The tenure for a gold loan is flexible, typically ranging from a few months to a few years, depending on the lender and the borrower's preference. Muthoot Finance offers flexible repayment options, with tenures ranging from three to twelve months, although an extension may be available upon request. You can choose a repayment plan that suits your financial situation, whether monthly instalments or bullet payments. Always check with the specific lender for precise tenure options and terms.

The documentation required for a gold loan is minimal. It usually includes proof of identity, address, and the pledged gold. Some financial institutions and NBFCs may also require additional KYC documents to disburse the loan amount. Hence, it is always advisable to check with the specific lender for any other documentation and ensure you have all the necessary documents to facilitate a smooth gold loan application process.

The processing fees depend on the lender to whom you wish to apply for a gold loan. Typically, these fees are charged based on the percentage of the loan amount rather than per gram of gold pledged. That is why it is essential to check with individual lenders for specific details, as they may have different terms and fee structures associated with their gold loan offerings. Always review the terms and conditions beforehand to understand the complete cost breakdown before proceeding with the gold loan application.