Gold loan is a financial product that has gained immense popularity in recent years, especially in India. It allows individuals to take a loan against the collateral of their gold ornaments or coins. The loan amount disbursed depends on the value of the pledged gold. In simple terms, the higher the value of gold, the higher the loan amount that can be availed. This brings us to the concept of gold loan per gram.
Understanding Gold Loan per Gram
Gold loan per gram is the value of a particular quantity of gold that is used to calculate the loan amount disbursed by the lender. It is the rate at which the lender is willing to lend money against a given quantity of gold. The gold loan per gram varies from lender to lender and depends on various factors such as the purity of the gold, prevailing market conditions, and the loan to value ratio (LTV).
The purity of gold is a crucial factor in determining the gold loan per gram. Generally, lenders accept gold ornaments or coins that have a purity of 18 Karat or higher. The higher the purity of gold, the higher the loan amount that can be availed against a given quantity of gold. It is because pure gold has a higher market value as compared to impure or low-purity gold.
Another important factor that affects the gold loan per gram is the prevalent market conditions. Gold prices fluctuate regularly due to various factors, such as global economic conditions, inflation, and geopolitical unrest. As a result, lenders adjust their gold loan per gram rates to reflect the current market value of gold.
The loan to value ratio (LTV) is the third factor that affects the gold loan per gram. It is the percentage of the market value of gold against which a loan can be availed. For instance, if the LTV is 75%, an individual can avail a loan of up to 75% of the market value of the pledged gold. The higher the LTV, the higher the loan amount that can be availed against a given quantity of gold.
Staying Informed with Today’s Gold Price in Guwahati
Staying informed about today’s gold price in Guwahati is crucial for individuals who want to avail gold loans. It allows individuals to calculate the loan amount they can avail against their gold and make informed borrowing decisions. There are various ways to stay informed about today’s gold price in Guwahati, such as:
- Checking the Gold price on mobile applications:
There are various mobile applications such as ‘Gold Live!’ and ‘My bazaar’ that allow individuals to check the current gold price in real-time. These applications also provide historical data, which enables borrowers to track past price trends and make informed decisions.
- Checking the Gold price on websites:
Various websites such as GoldPriceIndia.com and GoodReturns.in provide real-time gold price updates that enable borrowers to calculate the loan amount they can avail against their gold.
- Checking the Gold price through SMS alerts:
Some banks and financial institutions offer SMS alerts that provide daily updates on the prevailing gold price. This enables borrowers to track daily price fluctuations and make informed borrowing decisions.
Conclusion
Gold loan per gram and gold price today in Guwahati are two critical factors that borrowers must keep in mind while availing gold loans. Gold loan per gram is the rate at which the lender is willing to lend money against a given quantity of gold and depends on various factors such as the purity of gold, prevailing market conditions, and the loan to value ratio.
Staying informed about today’s gold price in Guwahati enables borrowers to calculate the loan amount they can avail against their gold and make informed borrowing decisions. Therefore, it is essential to stay informed about today’s gold price in Guwahati and keep track of fluctuating gold prices to make the most of gold loans.
