What Is Baroda Gujarat Gramin Bank Gold Loan Calculator
Dialabank provides a free Baroda Gujarat Gramin Bank Gold Loan Calculator to all its valued customers. Gold prices keep changing and if you are thinking about getting credit for gold in your possession from the Baroda Gujarat Gramin Bank or any bank or financial institute, use Baroda Gujarat Gramin Bank Gold Loan Calculator to calculate your EMIs. Gold rates are increasing in India.
Baroda Gujarat Gramin Bank Gold Loan Calculator can help you find the best value for your gold with today’s price.
Baroda Gujarat Gramin Bank Gold Loan Calculator is a user-friendly tool. There are no limits to calculate and compare the interest rate provided by multiple banks. Baroda Gujarat Gramin Bank Gold Loan Calculator is available on Dialabank; you can use it whenever you want, and you can find the right EMIs you will pay every month on your loan.
Baroda Gujarat Gramin Bank Gold Loan Calculator can also help you compare the interest rates of many different banks for better results, multiple options, and accurate EMI information; use the Baroda Gujarat Gramin Bank Gold Loan Calculator tool by Dialabank to get the best value for your gold.
For the others like Himachal Pradesh Gramin Bank, Gold Loan Calculator visit Dialabank
About Gold Loan
Get a gold loan from Baroda Gujarat Gramin Bank, a quick process with less paperwork. Suppose you choose Dialabank for your gold loan. In that case, the gold loan will be processed within a moment, and you can use the Baroda Gujarat Gramin Bank Gold Loan Calculator to calculate and find the exact amount you will have to pay; you can also get the help of our expert with complete assistance and updates which will be essential for you. Baroda Gujarat Gramin Bank Gold Loan Calculator deals with all changes in the gold rate in Gujarat.
Every Indian desire to buy gold is mostly for gifts at a wedding or wearing it on a special occasion, but it’s expensive, limiting your capacity to buy the gold to make these possible Baroda Gujarat Gramin Bank is providing the gold loan. The bank offers you money by keeping your gold as collateral. You will get back your gold after a predetermined period; the maturity is flexible in a bullet repayment scheme.
Now compare different interest rates offered by all banks around you with the help of the Baroda Gujarat Gramin Bank Gold Loan Calculator. You can calculate different interest rates, tenure or combine both provided by various banks in Gujarat and the whole country.
Why Is Gold Loan Preferred?
- Flexibility: You get to choose the maturity date in bullet repayment. In EMI repayment, you can choose anywhere between 6 to 60 months.
- Low interest: The interest rate for gold loans is lower than other Loans. Baroda Gujarat Gramin Bank’s minimum interest rate is 7%.
- Prepayment charges: Prepayment charges are 2% + GST; if payment is made within three months after three months, the prepayment is free.
- Documents: Gold loan borrowers have the benefit of less documentation.
- Speed: Baroda Gujarat Gramin Bank will provide you credit in a speedy process as the gold loan is secured and under their possession.
Benefits of Using Baroda Gujarat Gramin Bank Gold Loan Calculator
The benefits of the Baroda Gujarat Gramin Bank Gold Loan Calculator are as follow:
- Best value: Baroda Gujarat Gramin Bank Gold Loan Calculator will give the best value for your gold according to the current gold rate in Gujarat.
- Quick Results: Baroda Gujarat Gramin Bank Gold Loan Calculator is a tool that provides you with instant results.
- Accurate: Baroda Gujarat Gramin Bank Gold Loan Calculator gives you an error-free calculation.
- Latest price: Baroda Gujarat Gramin Bank Gold Loan Calculator is a user-friendly tool developed to automatically adjust the calculation to Gujarat’s current trending gold price.
Gold Loan Eligibility Criteria
- Age: If you are Indian, you can get a loan starting with a minimum age of 21 and with a maximum age of 70 years.
- Loan Amount: Baroda Gujarat Gramin Bank’s minimum loan amount is 1 lakh, and it can go up to 40 lakhs.
- Employment Requirements: Salaried individuals or self-employed.
- Gold as a Security: The gold deposited should be minimum of 18 carats, a minimum weight of 10 grams, and meet the international gold standard.
- CIBIL Score Requirements: Required CIBIL score is 750 and above
- Documents Required: 2 passport size photos, any ID proof, proof of income, residential proof in case of rent, electric or water bills of 1 year, agriculture land ownership proof for agriculture.
Gold Loan Eligibility Calculator
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan
Gold with 18-24 carat purity
Employment track record and income proofs
Baroda Gujarat Gramin Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: Instead of paying a lump sum amount, you get the opportunity to pay the amount anywhere between 12 to 60 months.
- Tenure: The tenure for Baroda Gujarat Gramin Bank is 6 to 60 months. If bullet repayment scheme, you can pay the amount according to your chosen maturity date.
- Low interest: Baroda Gujarat Gramin Bank Gold Loan interest rate is 7 per cent which is less than a personal loan; it has an interest rate of 9.99%.
- Scheme: Nowadays, various banks provide varying schemes of a gold loan.
- Visit Dialabank for Baroda Gujarat Gramin Bank Gold Loan Calculator
- Monthly payment: You have to make payments every month.
What Is Bullet Repayment Scheme
If you pay your outstanding amount in a lump sum on a decided maturity date is called bullet repayment; it is also referred to as balloon loan; the repayment is flexible as you choose the date you need to make full payment of the gold instead of making payments every month. It is suitable for people who want to get a loan for a short time; bullet repayment can help you save your money on interest, and you can get rid of monthly payments.
Two common types of repayment.
- EMIs: EMI is the amount you need to pay every month for at least six months, and it can be extended up to 60 months.
- Bullet repayment scheme: You don’t have to pay these EMIs you get the freedom to pay the amount on your chosen maturity date. The processing fee is 1%, and interest will be charged as you get the flexibility of repayment.
EMI Gold Loan Scheme with Bullet Repayment Scheme Comparison
EMI Scheme (₹)
₹ 3 Lakh
₹ 3.24 Lakh
₹ 3.44 Lakh
Why Opt for A Bullet Repayment Scheme?
Here is why you should consider bullet repayment schemes:
- No EMIs: You can get rid of the hassle of making payments every month
- Short period loan: Short tenure loan can give you higher benefits as you don’t have to pay interest for a longer time.
- Flexible repayment schedule: Bullet repayment gives you the freedom of repayment as you decide the maturity date.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: The banks give freedom of repayment date; they can charge more interest on repayments in return.
- Repayments: It can backfire on you if you miss the repayment, and you will be liable for additional charges.
Compare Gold Loan Rate Per Gram and Lowest EMI of All Banks
Lowest EMI Per Lakh
SBI Gold Loan
Muthoot Gold Loan
Manappuram Gold Loan
HDFC Bank Gold Loan
Yes Bank Gold Loan
ICICI Bank Gold Loan
Federal Bank Gold Loan
Canara Bank Gold Loan
Andhra Bank Gold Loan
Axis Bank Gold Loan
IndusInd Bank Gold Loan
PNB Gold Loan
Fincare Small Finance Bank Gold Loan
How Does Dialabank’s Gold Loan Calculator Work?
You need to put the following detail:
- The interest rate offered by the banks/lender
- The loan amount of the subscribed or required Gold loan principal
- The duration of the loan
Why Should You Use The Calculator Tool by Dialabank?
To calculate the Gold Loan (EMIs) Equated Monthly Installments, the calculator tool can be helpful in several ways:
- Accuracy is error-free
- quick results can save a lot of your precious time.
- It works with all changes in the current gold price in Gujarat.
- It provides you with a calculation of all banks near you.
- It makes your planning easier, and you can save money by choosing the best plan.
- Visit Dialabank for the EMI calculator tool.
FAQs About Baroda Gujarat Gramin Bank Gold Loan Calculator
✅ What is the best online platform to avail of Gold Loan?
Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.
✅ What is Gold Loan?
The gold loan also referred to as ‘Loan Against Gold’ is a type of secured loan that a person can avail by keeping their gold ornaments as collateral security with the lender. Unlike other secured loans like car loans or home loans, a gold loan can be used for any purpose.
✅ How to calculate the Gold Loan interest rate formula?
The gold loan interest rate formula depends upon a number of different factors which are; loan amount, loan tenure, quality of gold, relationship with the lending bank, and loan to value ratio. Different banks calculate the rate of interest differently.
✅ How to get a loan against gold?
A loan Against Gold is the easiest way to get a Loan especially in case of any urgent need. All you need to do is to take your Gold Ornaments and walk into the nearest Bank Branch or Non-Banking Finance Company Branch that deals in Gold Loan.
Table of Contents
- 1 What Is Baroda Gujarat Gramin Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using Baroda Gujarat Gramin Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 Baroda Gujarat Gramin Bank Gold Loan Calculator
- 8 Gold Loan EMI Payments
- 9 What Is Bullet Repayment Scheme
- 10 EMI Gold Loan Scheme with Bullet Repayment Scheme Comparison
- 11 Why Opt for A Bullet Repayment Scheme?
- 12 Why Not Opt for A Bullet Repayment Scheme?
- 13 Compare Gold Loan Rate Per Gram and Lowest EMI of All Banks
- 14 How Does Dialabank’s Gold Loan Calculator Work?
- 15 Why Should You Use The Calculator Tool by Dialabank?
- 16 FAQs About Baroda Gujarat Gramin Bank Gold Loan Calculator