Many gold owners in India have acquired gold jewellery but keep them safe in bank vaults. A gold loan enables lenders such as banks or NBFCs to provide timely and enough money. However, before applying, you must consider the gold loan per gram rate, which impacts the loan amount.
What Is the Per Gram Gold Loan Rate?
Most lenders in India provide 75% of the entire market value of the gold as a loan sum. Lenders compute and express the loan amount for each gram of pledged gold using gold loan per gram rate.
As the gold value increases with weight and quality, so does the gold loan per gram rate.
Factors Influencing the Per Gram Gold Loan Rate
The price of gold is volatile and changes often. As a result, it is essential to monitor the prices since they directly impact the gold loan rate per gram today or any other day. However, various variables influence gold prices and, by extension, the gold loan per gram rate.
• Supply and Demand
When the demand for gold exceeds the supply, the gold price rises. Conversely, if the supply exceeds the demand, the price of gold falls. With a greater gold price, you may be able to acquire a larger gold loan in Raipur and other places in India since the gold worth is higher.
• Financial Situation
Because gold is a marketable commodity, investors acquire gold in person or online during a recession, inflation, or another economic downturn.
• Rates of Interest
The Reserve Bank of India, India's central bank, controls money flow in the market by raising or lowering important interest rates such as the repo rate and reverse repo rate. The current interest rates also impact gold prices and the loan amount you may obtain for your gold.
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