What Is Dhanlaxmi Bank Gold Loan Calculator
Calculating your EMIs can be time-consuming Dialabank has got a solution. The solution is Dhanlaxmi Bank Gold Loan Calculator; if you are thinking about getting a credit against your Jewellery from Dhanlaxmi Bank or any bank or financial institute, use Dhanlaxmi Bank Gold Loan Calculator to calculate your EMIs. The current growth in the gold price will get an excellent value to your gold.
Dhanlaxmi Bank Gold Loan Calculator featured on Dialabank can help you calculate the EMI you will pay every month for the credit borrowed. You can estimate multiple interest rates, tenure periods, or a combination of both provided by different creditors and go with what best suits you.
About Gold Loan
A gold loan is a secured loan because you provide your gold as security to the bank or any lender. The bank offers you money by keeping your gold as collateral, and you get back your gold after your final repayment.
The procedure is quick and straightforward as you provide your gold as collateral which gives you additional security. If you choose Dialabank for your gold loan, your loan will be processed within minutes, and you will use Dhanlaxmi Bank Gold Loan Calculator to calculate and find the exact payments you need.
Why Is Gold Loan Preferred?
- Flexibility: The gold loan gives you the flexibility to repay your loan principal and interest according to your income.
- Low interest: The interest rate offered by banks for gold loans is less than other loans
- Prepayments charges: Today, many banks and lenders don’t ask for prepayments.
- Documents: The gold loan is a secured loan that helps your loan gets processed with minimum document and easily.
- Speed: Minimum documents mean less time for the process and a speedy loan.
Benefits of Using Dhanlaxmi Bank Gold Loan Calculator
The benefit of the Dhanlaxmi Bank Gold Loan Calculator
- Quick Results: The speed of the Dialabank Dhanlaxmi Bank Gold Loan Calculator is faster than any human, which will help you get the EMI amount quickly.
- Accurate: A human mind can make mistakes, but the calculator won’t.
- Latest price: Dhanlaxmi Bank Gold Loan Calculator has a function of calculating as per on current gold rate.
Gold Loan Eligibility Criteria
- Age: Minimum age is 21 years, and Maximum Age limit is 65 years
- Loan Amount: All banks offer a gold loan up to Rs 20 lakhs, and The amount may go as high as Rs 2 crore.
- Employment Requirements: Gold loans are available for any individuals salaried, self-employed; even housewives without income can get a loan.
- Gold as a Security: The gold to be deposited in the should be around 18-24 carats. The average gold price of the previous 30 days for 22 carats is adjusted.
- CIBIL Score Requirements: No CIBIL score requirements for a gold loan. Prior payment history related to gold loans has to be evaluated to check your eligibility for repayments.
- Documents Required: Identity proof and address proof.
Gold Loan Eligibility Calculator
|Minimum and Maximum Age||
21 Yrs – 60 Yrs
Note: However, many banks require a minimum age of 23 years
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount
Salaried and self-employed both are eligible
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||
Gold ornaments should range in between 18 to 24 Carats
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
Banks do not check CIBIL score for granting a gold loan
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 bars and coins
Gold with 18-24 carat purity
|Employment track record and income proofs||
Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.
Dhanlaxmi Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: The EMI allows you to make easier payments every month that saves you from the burden of making lumpsum payments, and helping people who can’t afford to buy gold in a single payment.
- Tenure: Emi is available for a more extended period of time as you provide gold to the bank as collateral.
- Low interest: if you compare the other interest rates, the interest rate offered by banks for gold loans is less.
- EMI: Making payments every month can be a burden for you.
What Is Bullet Repayment Scheme
When you make an entire payment for an outstanding loan at the maturity date is called bullet repayment. It saves you from paying the principal amount every month. A balloon loan is another term used for bullet payment; it is mainly used for banking and real estate loan.
EMI Gold Loan Scheme with Bullet Repayment Scheme Comparison
|Monthly Payment||EMI Scheme (₹)||
Bullet Repayment (₹)
Bullet Payment (At the end of 12 months)
|₹ 3 Lakh|
|Total Payment||₹ 3.24 Lakh||₹ 3.44 Lakh|
Why Opt for A Bullet Repayment Scheme?
Here is why you should consider bullet repayment schemes
- No EMIs: It saves you from paying the amount every month.
- Short period loan: It is best for short Period gold loans if less than six months
- Flexible repayment schedule: It helps as you can choose to pay interest on the loan: the monthly EMIs and the principal payment in one installment instead of spending it every month.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: Some banks may charge higher interest.
- Repayments: You end up paying more interest on a bullet repayment loan as it does not reduce any balance loan.
Compare Gold Loan Rate Per Gram and Lowest EMI of All Banks
|Bank||Interest Rate||Lowest EMI Per Lakh||
Eligible Loan Amount For Max Tenure
|SBI Gold Loan||7.50%||Rs. 3,111||
Rs. 20 Lakh for 36 months
|Muthoot Gold Loan||11.99%||Rs. 3,321||
Rs. 50 Lakh for 36 months
|Manappuram Gold Loan||12.00%||Rs. 8,885||
Rs. 1 Cr for 12 months
|HDFC Bank Gold Loan||9.90%||Rs. 4,591||
Rs. 50 Lakh for 24 months
|Yes Bank Gold Loan||9.99%||Rs. 3,226||
Rs. 50 Lakh for 36 months
|ICICI Bank Gold Loan||10.00%||Rs. 8,792||
Rs. 15 Lakh for 12 months
|Federal Bank Gold Loan||8.50%||Rs. 8,722||
Rs. 75 Lakh for 12 months
|Canara Bank Gold Loan||7.65%||Rs. 8,683||
Rs. 10 Lakh for 12 months
|Andhra Bank Gold Loan||10.70%||Rs. 8,824||
Rs. 2 Cr for 12 months
|Axis Bank Gold Loan||13.00%||Rs. 4,754||
Rs. 20 Lakh for 24 months
|IndusInd Bank Gold Loan||10.00%||Rs. 8,792||
Rs. 10 Lakh for 12 months
|PNB Gold Loan||8.75%||Rs. 8,734||
Rs. 10 Lakh for 12 months
|Fincare Small Finance Bank Gold Loan||12.99%||Rs. 11,721||
Rs. 40 Lakh for 9 Months
How Does Dialabank’s Gold Loan Calculator Work?
You just need to provide few details
- The interest rate offered by the banks/lender
- The loan amount of the subscribed or required Gold loan principal
- The duration of the loan
After you input all the details, the calculator will show your monthly repayments instantly. You can use the Gold Loan Calculator, visit Dialabank.
Why Should You Use The Calculator Tool by Dialabank?
To calculate the Gold Loan (EMIs) Equated Monthly Installments, the calculator can be helpful in several ways4
- It saves you from hours of work and faulty calculations.
- It works with the current gold price.
- It also allows you to try different options available to find the Gold loan suitable for you.
- By knowing the exact amount of EMI, you can adjust your monthly budget.
FAQs About Dhanlaxmi Bank Gold Loan Calculator
✅ What is the margin in a loan against gold?
Banks maintain a margin of at least 25% in the case of loans against gold. That is, a person can avail a maximum of 75% of their gold’s market value as the loan amount. For example, if your gold is valued at Rs. 1 Lakh in the market then banks will offer you a maximum loan amount of Rs. 75,000.
✅ What are Dhanlaxmi Bank Gold Loan Preclosure charges?
The Bank preclosure charges are 2%+GST (Within 3 Months), 0 (After 3 months).
✅ What is the Dhanlaxmi Bank maximum gold loan tenure?
The maximum gold loan tenure is 36 months.
✅ What is the foreclosure charge for Dhanlaxmi Bank Gold Loan?
DCB Bank charges a borrower up to 0.50% on the principal amount as the Foreclosure charges.
Table of Contents
- 1 What Is Dhanlaxmi Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using Dhanlaxmi Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 Dhanlaxmi 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 Dhanlaxmi Bank Gold Loan Calculator