IOB Gold Loan Per Gram Rate Today

Indian Overseas Bank (IOB) Gold Loan Per Gram Rate is a crucial indicator for those looking to leverage their gold assets for loans. Understanding the current rate can help you make informed financial decisions. This rate varies based on several factors including the purity of the gold, market conditions, and the policies of IOB.

As of today, the gold loan per gram rate offered by IOB is approximately ₹5,150. This rate is subject to change based on fluctuations in the gold market and the bank’s lending policies. To get the most accurate and up-to-date rate, it's advisable to contact IOB directly or check their official website.

Factors Influencing the Gold Loan Rate

1. Purity of Gold: The rate is largely dependent on the purity of the gold being pledged. Typically, gold is assessed in terms of karats (K), with 24K being considered the purest form. Higher purity generally translates to a higher loan amount per gram.

2. Market Conditions: Gold prices fluctuate due to market demand and supply, economic conditions, and geopolitical factors. As gold prices rise, the loan amount you can receive per gram may also increase, and vice versa.

3. Bank Policies: Different banks have different policies regarding gold loans. IOB’s rate may differ from other banks based on their internal lending criteria and the overall financial environment.

How the Rate Affects Your Loan

When you pledge gold for a loan, the amount you can borrow is based on the gold’s current market value and purity. A higher rate per gram means you can secure a larger loan amount for the same quantity of gold. Conversely, a lower rate may result in a smaller loan amount.

Example Calculation

If you have 100 grams of gold and the current rate is ₹5,150 per gram, the potential loan amount can be calculated as follows:

Loan Amount = Gold Weight (grams) × Rate per Gram

Loan Amount = 100 grams × ₹5,150/gram

Loan Amount = ₹5,15,000

This calculation helps illustrate the potential loan you can secure based on today's rate.

Table of Gold Loan Rates (Sample Data)

Date	Rate per Gram (₹)	Gold Weight (grams)	Total Loan Amount (₹)
2024-08-12	5,150	100	5,15,000
2024-08-11	5,120	100	5,12,000
2024-08-10	5,100	100	5,10,000

The table above shows how the rate per gram can impact the total loan amount based on different days.

Conclusion

Staying informed about the gold loan per gram rate is essential for making the most of your gold assets. Regularly checking the rate and understanding the influencing factors can help you make strategic decisions about borrowing against gold. Always compare rates and terms from different banks to ensure you get the best deal available.