Axis Bank Gold Loan Per Gram Rate Today: Are you considering taking out a gold loan from Axis Bank but not sure what the per gram rate is? In this article, we’ll cover everything you need to know about Axis Bank’s gold loan per gram rate today. We’ll also discuss the factors that affect the rate, eligibility criteria, and frequently asked questions.
Table of Contents
- What is Axis Bank Gold Loan per Gram Rate Today?
- Factors that Affect the Gold Loan per Gram Rate
- Gold Purity
- Market Conditions
- Loan to Value (LTV) Ratio
- Eligibility Criteria for Axis Bank Gold Loan
- Documents Required for Axis Bank Gold Loan
- How to Apply for Axis Bank Gold Loan
- Benefits of Axis Bank Gold Loan
- Risks Associated with Axis Bank Gold Loan
- Alternatives to Axis Bank Gold Loan
- FAQs
- What is the maximum amount I can get through Axis Bank gold loan?
- What is the repayment period for Axis Bank gold loan?
- Can I prepay my Axis Bank gold loan?
- What happens if I fail to repay my Axis Bank gold loan?
- Is it necessary to have a good credit score to get an Axis Bank gold loan?
What is Axis Bank Gold Loan per Gram Rate Today?22/04/2023
Axis Bank is one of the leading banks in India that provides gold loans to its customers. The per gram rate for Axis Bank’s gold loan depends on various factors such as gold purity, market conditions, and the loan to value ratio. As of today, the per gram rate for Axis Bank’s gold loan starts at Rs. 4,806 for 22 karat gold and Rs. 4,951 for 24 karat gold.
Factors that Affect the Gold Loan per Gram Rate
The gold loan per gram rate offered by Axis Bank is not fixed and can vary from time to time. The following are the factors that affect the gold loan per gram rate:
Gold Purity
The purity of the gold you pledge as collateral determines the per gram rate offered by the bank. The higher the purity, the better the per gram rate you will get. Axis Bank offers gold loans for 18, 22, and 24 karat gold.
Market Conditions
The per gram rate of gold is also affected by market conditions, such as the global gold prices and the demand for gold in the market. In times of high demand, the per gram rate may increase, and in times of low demand, it may decrease.
Loan to Value (LTV) Ratio
The loan to value (LTV) ratio is the amount of loan that you can get against the value of your gold. The LTV ratio varies from bank to bank and can range from 60% to 90%. A higher LTV ratio means that you can get a higher loan amount against the same quantity of gold.
Eligibility Criteria for Axis Bank Gold Loan
To be eligible for an Axis Bank gold loan, you need to fulfill the following criteria:
- You must be an Indian citizen or resident
- You must be at least 18 years old
- You should own gold jewelry or coins
- The gold should be in your name or your family member’s name
- The gold should be of 18 karat purity or higher
Documents Required for Axis Bank Gold Loan
The following documents are required to apply for an Axis Bank gold loan:
- Identity proof (Aadhaar Card, Passport, Voter ID, or Driving License)
- Address proof (Aadhaar Card, Passport, Voter ID, Driving License, or Utility bills)
- Proof of ownership of gold