Gold purity is a vital factor in determining the value and strength of gold items. Here’s how 83-carat gold compares with other purities:
- 24-carat gold (99.9% purity): The purest form of gold, primarily used for investment and coins. It is soft and prone to scratches, making it less suitable for jewellery.
- 22-carat gold (91.6% purity): Commonly used in jewellery, offering a balance of purity and strength. More valuable than 83% gold due to higher gold content.
- 20-carat gold (83% purity): Durable and sturdy, ideal for intricate jewellery designs. It offers reasonable value with enhanced durability.
- 18-carat gold (75% purity): Widely used in Western-style jewellery, combining gold with stronger alloys like copper and silver.
- 14-carat gold (58.3% purity): Often used in fashion jewellery, offering increased strength and lower cost.
Bajaj Finance offers gold loans on various purities, ensuring optimal loan amounts and multiple repayment options.
Uses of 83 gold in jewellery and investment
83% gold is primarily utilised in the jewellery industry due to its excellent durability and balance of value. Traditional jewellery makers often prefer this purity as it combines strength with a considerable amount of pure gold. It is commonly used in crafting necklaces, bangles, rings, and other ornamental pieces, where durability is essential to withstand daily wear and tear.
Apart from jewellery, 83% gold can also be a practical choice for small-scale investments, especially when higher purity gold becomes too costly. Investors looking for affordable options might prefer this type as it still holds substantial value and offers durability for everyday use.
How to identify 83% gold purity?
Identifying 83% gold purity is crucial when buying or using it for a gold loan. One of the most reliable methods is through hallmarking. In India, the Bureau of Indian Standards (BIS) hallmark indicates the purity level, and a 20-carat gold item will have the hallmark stamp of 83% purity.
Another method is conducting a purity test using a gold testing machine or acid test. A jeweller or certified professional can perform these tests to determine the exact percentage of gold content. Bajaj Finance follows strict quality checks and ensures that only accurately tested gold is considered for loans. The quality verification ensures that customers receive the correct valuation and optimal loan amounts based on purity.
It is always recommended to purchase hallmarked gold from reputable jewellers to ensure authenticity and transparency. Choosing Bajaj Finance for your gold loan guarantees a secure and transparent process with accurate valuation. To avail a loan,
check your eligibility today.
Can you get a gold loan on 83% pure gold?
Yes, you can get a gold loan on 83% pure gold, as most financial institutions, including Bajaj Finance, accept gold jewellery and coins with varying purities. The loan amount is calculated based on the purity and weight of the pledged gold, and 83% purity typically results in a slightly lower loan-to-value ratio compared to higher purity gold.
Bajaj Finance offers online gold loan against 18-22 karat gold jewellery, enabling customers to apply conveniently from their homes. The process is quick, and the pledged gold is securely stored. However, Bajaj Finance ensures that customers receive competitive gold loan interest rates in India, tailored to their financial needs.
How does 83 gold purity affect gold loan interest rates?
The purity of gold significantly affects the interest rates offered by financial institutions. In the case of 83% pure gold, the lower purity compared to 22-carat gold may lead to slightly higher interest rates. This is because lenders perceive higher purity gold as more valuable and less risky. Consequently, the
gold loan interest rates in India for 83% purity may be marginally higher.
Bajaj Finance offers competitive interest rates even on 83% gold by carefully assessing the current market value and purity. By opting for a shorter tenure and timely repayments, borrowers can minimise the overall interest burden. Choosing a trusted institution like Bajaj Finance ensures that the pledged gold is securely stored and the loan terms remain transparent and fair.
