BankCreds Research · Calculator-backed study
How Much Gold Loan Can You Get per Gram? A Trend Report
At RBI’s July 2026 gold price, a gram of 22-carat gold could borrow up to ₹11,159 — ₹1,11,591 on 10 grams — under the 85% loan-to-value cap for small consumption loans, BankCreds Research calculates. In October 2016 the same gram could borrow ₹2,076.
- Published
- 9 October 2026
- Last updated
- 25 October 2026
- Data period
- October 2016 – July 2026
- Datasets
- RBI v1.0 · 118 months + RBI v1.0 · 8 rules
By BankCreds Research & Data Team · Reviewed by BankCreds Financial Experts · Fact-checked by BankCreds Content & SEO Team
Executive summary
How much you can borrow against gold depends on two things: what the gold is worth and how much of that value RBI lets a lender lend. BankCreds Research worked out the maximum loan on a gram of 22-carat gold for every month from October 2016 to July 2026, using RBI’s monthly gold price and the loan-to-value (LTV) cap in force each month for banks and for NBFCs. The rising gold price did most of the work; RBI’s 2025 rules added a further step for small loans.
Key findings
Each finding is self-contained and may be quoted with attribution to BankCreds Research. Link a single finding with its anchor (#finding-1, #finding-2 …).
- 1
In July 2026, 10 g of 22-carat gold could borrow up to ₹1,11,591 from a bank or NBFC on a small consumption loan, at RBI’s average gold price and the 85% LTV cap.
- 2
That is 5.4 times the ₹20,763 that 10 g could borrow in October 2016, when the cap was 75%.
- 3
Most of the rise came from the gold price: 22-carat gold was worth ₹2,768 a gram in October 2016 and ₹13,128 in July 2026.
- 4
RBI’s 2025 Directions raised the cap for small consumption loans from 75% to 85% — 13.3% more at the same gold price. Lenders could adopt it from 6 June 2025 and had to by 1 April 2026.
- 5
Larger loans get less per gram: at the July 2026 price, 10 g could borrow up to ₹1,11,591 when your total gold loans are up to ₹2.5 lakh, ₹1,05,027 up to ₹5 lakh and ₹98,463 above that.
- 6
During COVID-19, RBI let banks lend up to 90% of the gold’s value from August 2020 to March 2021, while NBFCs stayed at 75%; in August 2020 that meant up to ₹7,307 more on 10 g at a bank.
- 7
Gold loans for income-generating purposes, including farm loans, have no RBI cap under the 2025 Directions; the lender’s own policy sets the limit.
Key statistics
- Most on 10 g of 22k gold
- ₹1,11,591
- July 2026, loans up to ₹2.5 lakh
- Most per gram
- ₹11,159
- at RBI’s July 2026 price
- On 10 g in October 2016
- ₹20,763
- at a 75% cap
- LTV cap, small loans
- 85%
- from 1 April 2026
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How the per-gram limit is worked out
Start with the value of the gold. Lenders value jewellery as 22-carat gold, so we convert RBI’s price for standard (99.5%) gold to 22-carat purity. Then apply RBI’s loan-to-value cap — the highest share of that value a lender may lend. In July 2026 22-carat gold was worth ₹13,128 a gram, and the cap for small consumption loans was 85%, so the most a gram could borrow was ₹11,159.
Why your offer may be lower
The cap is a maximum, not an offer. Lenders test purity and deduct stones and other non-gold weight. They value gold on a recent average price, not today’s. Many lend below the cap as their own policy. And the cap falls as your total gold loans grow: 80% above ₹2.5 lakh and 75% above ₹5 lakh. Ask the lender for the per-gram rate it is applying before you pledge.
How RBI’s cap has changed
For most of the last decade the cap was 75% for both banks and NBFCs. During COVID-19, RBI let banks lend up to 90% from August 2020 to March 2021. Its 2025 Directions set one table for all lenders by loan size — 85%, 80% and 75% — for consumption loans, in force by 1 April 2026. The table below lists every rule with its RBI circular.
Data tables
Most you can borrow on 10 g of 22-carat gold, by loan size (July 2026 price)
| Your total gold loan | Maximum LTV | Most on 10 g |
|---|---|---|
| ≤₹2.5 lakh | 85% | ₹1,11,591 |
| > ₹2.5 lakh & ≤ ₹5 lakh | 80% | ₹1,05,027 |
| > ₹5 lakh | 75% | ₹98,463 |
At RBI’s July 2026 average price converted to 22 carat (₹1,31,284 per 10 g). Lenders value gold on a recent average price and may lend less than the cap.
Gold value and maximum gold loan per gram of 22-carat gold, yearly averages
| Year | 22k value per gram | Max loan per gram — banks | Max loan per gram — NBFCs | LTV cap in force (banks) |
|---|---|---|---|---|
| 2016 (part) | ₹2,689 | ₹2,017 | ₹2,017 | 75% |
| 2017 | ₹2,667 | ₹2,001 | ₹2,001 | 75% |
| 2018 | ₹2,819 | ₹2,115 | ₹2,115 | 75% |
| 2019 | ₹3,209 | ₹2,406 | ₹2,406 | 75% |
| 2020 | ₹4,348 | ₹3,554 | ₹3,261 | 75% → 90% |
| 2021 | ₹4,361 | ₹3,433 | ₹3,270 | 90% → 75% |
| 2022 | ₹4,690 | ₹3,517 | ₹3,517 | 75% |
| 2023 | ₹5,434 | ₹4,076 | ₹4,076 | 75% |
| 2024 | ₹6,511 | ₹4,883 | ₹4,883 | 75% |
| 2025 | ₹9,350 | ₹7,012 | ₹7,012 | 75% |
| 2026 (part) | ₹13,792 | ₹11,127 | ₹11,127 | 75% → 85% |
RBI’s maximum loan-to-value for gold loans, over time
| From | To | Lender | Loans covered | Maximum LTV | RBI circular |
|---|---|---|---|---|---|
| 21 Mar 2012 | 7 Jan 2014 | NBFCs | all | 60% | DNBS.CC.PD.No.265/03.10.01/2011-12 dated March 21, 2012 (RBI/2011-12/4 |
| 8 Jan 2014 | 31 Mar 2026 | NBFCs | all | 75% | DNBS.CC.PD.No.365/03.10.01/2013-14 dated January 8, 2014 (RBI/2013-14/ |
| 20 Jan 2014 | 5 Aug 2020 | Banks | non-agricultural | 75% | DBOD.BP.BC.No.86/21.01.023/2013-14 dated January 20, 2014 (RBI/2013-14 |
| 1 Jul 2014 | 31 Mar 2026 | RRBs and co-operative banks | medical expenses and unforeseen liabilities | 75% | RPCD.RRB.RCB.BC.No.08/03.05.33/2014-15 dated July 1, 2014 (RBI/2014-15 |
| 6 Aug 2020 | 31 Mar 2021 | Banks | non-agricultural | 90% | DoR.No.BP.BC/6/21.04.048/2020-21 dated August 6, 2020 (RBI/2020-21/19) |
| 1 Apr 2021 | 31 Mar 2026 | Banks | non-agricultural | 75% | DoR.No.BP.BC/6/21.04.048/2020-21 dated August 6, 2020 (reversion claus |
| 1 Apr 2026 | today | All lenders | consumption | 85% ≤₹2.5 lakh; 80% > ₹2.5 lakh & ≤ ₹5 lakh; 75% > ₹5 lakh | RBI/2025-26/47, DOR.CRE.REC.26/21.01.023/2025-26 dated June 6, 2025 |
| 1 Apr 2026 | today | All lenders | income-generating | No RBI cap (lender policy) | RBI/2025-26/47, DOR.CRE.REC.26/21.01.023/2025-26 dated June 6, 2025 |
From RBI’s own circulars and Directions. The 2025 tiers apply to consumption loans by total consumption-loan amount per borrower; lenders could adopt them from June 2025 and had to by 1 April 2026.
Methodology
Data. RBI’s monthly average price of standard gold (99.5%) in Mumbai, October 2016 to July 2026 (dataset version 1.0), and RBI’s loan-to-value rules for gold loans with their effective dates, from RBI’s own circulars and Directions. Method. 22-carat value per gram = RBI price per 10 g ÷ 10 × 91.6 ÷ 99.5. Maximum loan per gram = that value × the cap in force in the middle of the month, for banks and for NBFCs. From the 2025 Directions, the cap for consumption loans up to ₹2.5 lakh is used. No month is filled in or estimated.
Full standards: BankCreds research methodology.
Data sources
- Reserve Bank of India — monthly average price of standard gold (Mumbai), Handbook of Statistics on the Indian Economy and RBI Bulletin.
- Reserve Bank of India — circulars on loan-to-value for gold loans by NBFCs (January 2014) and banks (January 2014; August 2020 relaxation), and the Directions on lending against gold and silver collateral (June 2025).
Limitations
- Monthly average prices; lenders value gold on their own recent averages, so a day’s figure differs.
- The 2025 tiers became mandatory on 1 April 2026; lenders that adopted them earlier could lend more before that date.
- Purity, stone deductions and lender policy usually make the actual loan smaller than the cap.
- Agricultural and income-generating gold loans follow different rules and are not shown.
Download the report
The full report as a PDF — findings, charts, data tables, methodology and sources — updated 25 October 2026.
Download PDF reportFrequently asked questions
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You may quote the findings and reuse the charts under CC BY 4.0. Please credit BankCreds Research and link to this page. More options: Use our data.
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Version history. Report v1.0 (2026-10-09): First publication: RBI monthly gold prices October 2016 – July 2026 and RBI LTV rules 2012 – today. · RBI dataset v1.0 (2026-10-08): First release: 118 months, 2016-10 to 2026-07. · RBI dataset v1.0 (2026-10-09): First release: 8 rules.
This research describes historical data. It is not investment, borrowing or tax advice, does not forecast prices and does not guarantee any outcome. See our editorial policy, fact-checking policy and corrections policy.