Instant Gold Loan Kotak Mahindra Bank Calculator

What Is Instant Gold Loan Kotak Mahindra Bank Calculator

Dialabank provides a free Instant Gold Loan Kotak Mahindra Bank Gold LoanCalculator to all its valued customers. Gold prices keep fluctuating and if you are thinking about getting a loan for the gold that is in your possession from Kotak Mahindra Bank or any bank or financial institute, use Instant Gold Loan Kotak Mahindra Bank Calculator to calculate your interest rates to get the EMI. Gold rates are increasing in India. Instant Gold Loan Kotak Mahindra Bank Calculator can help you find the best value for your gold with today’s price in India.

Instant Gold Loan Kotak Mahindra Bank Calculator is a user-friendly tool developed for all our valued customers with no limits to calculate and compare the interest rate provided by multiple banks near you. Instant Gold Loan Kotak Mahindra Bank 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.

Instant Gold Loan Kotak Mahindra Bank Calculator can also help you compare the interest rates of many all banks available in India for better results, multiple options, and accurate EMI information; use Instant Gold Loan Kotak Mahindra Bank Calculator tool provided by Dialabank to get the best value for your gold with the flowing gold rate in India.

For other banks like Baroda Rajasthan Kshetriya Gramin Bank Gold Loan Calculator visit Dialabank.

About Gold Loan

Kotak Mahindra Bank provides gold loans to all the customers for investment or personal use, less paperwork, with a speedy process and 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 Instant Gold Loan Kotak Mahindra Bank Calculator to calculate and find the precise amount you will be paying; you will get our experts assistance and the best bank and value for your gold. Instant Gold Loan Kotak Mahindra Bank Calculator deals with all changes in the gold rate in India.

Most Indians buy gold primarily for gifts at a wedding or wear it on a special occasion. Some also use it for investment, but it’s expensive. Moreover, it limits your proficiency in buying the gold to make this possible; Kotak Mahindra Bank provides 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.

Compare interest rates and get precise EMI offered by different banks around you with the help of the Instant Gold Loan Kotak Mahindra Bank Calculator. You can calculate different interest rates, tenure, or combine both provided by various banks in India.

Why Is Gold Loan Preferred?

  • Flexibility: You get to choose the maturity date in bullet repayment. In EMI repayment, you can choose anywhere between 9 to 24 months in Kotak Mahindra Bank. Others can go as low as three months to 60 months.
  • Low interest: The current gold loan is low at 7%. Kotak Mahindra Bank’s interest rate is 11%.
  • Prepayment charges: Most banks don’t charge any prepayment fee. Instant Gold Loan Kotak Mahindra Bank prepayment fee is 1% to 2%.
  • Documents: Gold loan will be sanctioned without much paperwork.
  • Speed: Less paperwork in all gold loans; hence, Kotak Mahindra Bank will instantly provide you with the gold loan.

Benefits of Using Instant Gold Loan Kotak Mahindra Bank Calculator

The benefits of the Instant Gold Loan Kotak Mahindra Bank Calculator are as follow

  • Best value: Instant Gold Loan Kotak Mahindra Bank Calculator will give the best value for your gold according to the current gold rate in India.
  • Quick Results: Results are faster than any human mind in Instant Gold Loan Kotak Mahindra Bank Calculator.
  • Accurate: Instant Gold Loan Kotak Mahindra Bank Calculator gives you a clear-cut calculation.
  • Latest price: Instant Gold Loan Kotak Mahindra Bank Calculator is a user-friendly tool developed for all our valued customers and gives and deals with the latest gold price in India.

Gold Loan Eligibility Criteria

  • Age: Kotak Mahindra Bank provides gold loans for individuals with a minimum age of 18 and with a maximum age of 70 years.
  • Loan Amount: Kotak Mahindra Bank’s Gold Loan offers the minimum amount of ₹10000, and it can go up to ₹50 lakhs.
  • Employment Requirements: Loan is provided to Salaried individuals or self-employed.
  • Gold as a Security: The gold ornaments should be minimum of 18 carats, a minimum weight of 10 grams, and meet the international gold standard.
  • CIBIL Score Requirements: No minimum CIBIL score is required for the Kotak Mahindra Gold loan.
  • Documents Required: 2 passport size photos, any ID proof, No income proof, residential proof in case of rent, electric or water bills of 1 year, No land ownership proof for agriculture.

Gold Loan Eligibility Calculator

Minimum and Maximum Age
21 Yrs – 60 Yrs
Note: However, many banks require a minimum age of 23 years
Loan Amount
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount
Employment Type
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
CIBIL Score
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.

Instant Gold Loan Kotak Mahindra Bank Calculator

Gold Loan EMI Payments

Advantages:

  • Easy payment: Instead of paying a lump sum amount, you get the opportunity to pay the amount anywhere between 9 to 24 months in Kotak Mahindra Bank. Other banks offer from 3 to 60 months.
  • Tenure: The tenure for Instant Gold Loan from Kotak Mahindra Bank is 9 to 24 months. If bullet repayment scheme, you can pay the amount according to your chosen maturity date.
  • Low interest: Instant Gold Loan Kotak Mahindra Bank is 11%. Some banks offer an interest rate of 7%, and it is the lowest interest rate offered by any bank.
  • Scheme: Nowadays, various banks provide varying schemes of a gold loan; you can choose the one that suits you best.
  • Visit Dialabank for Instant Gold Loan Kotak Mahindra Bank Calculator

Disadvantages:

  • Monthly payment: Biggest disturbance any individual faces is constantly making monthly payments.

What Is Bullet Repayment Scheme

A bullet repayment scheme or a balloon loan is a repayment scheme where you pay the outstanding amount on a predetermined date (maturity) with all interest and other charges. The repayment is flexible as you choose the date you need for making the 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 regular monthly repayments forever.

Two common types of repayment.

  • EMIs: EMI is the amount you need to pay every month for at least three months, and it can be extended up to 60 months.
  • Bullet repayment scheme: You don’t have to pay the EMIs you get the freedom to pay the whole amount on your chosen maturity date, the actual amount of gold with interest and other charges.

EMI Gold Loan Scheme with Bullet Repayment Scheme Comparison

Monthly Payment EMI Scheme (₹)
Bullet Repayment (₹)
Month 1 27007 3625
Month 2 27007 3625
Month 3 27007 3625
Month 4 27007 3625
Month 5 27007 3625
Month 6 27007 3625
Month 7 27007 3625
Month 8 27007 3625
Month 9 27007 3625
Month 10 27007 3625
Month 11 27007 3625
Month 12 27007 3625
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: Everyone is sick of regular monthly repayment; get rid of it by buying a bullet repayment scheme.
  • Short period loan: You will save a lot of money on interest if you buy a loan for less than six months. 
  • Flexible repayment schedule: Bullet repayment gives you the freedom of repayment as you decide the tenure as per your income capability.

Why Not Opt for A Bullet Repayment Scheme?

  • Interest: some banks may charge a higher ROI rate of interest for a bullet repayment scheme
  • Repayments: Missing repayment can make you pay higher charges than your regular EMI or any other scheme.

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 need to put the following detail:

  • The interest rate offered by the banks/lenderDialabank Calculator
  • The loan amount of the subscribed or required Gold loan principal
  • The duration of the loan

After you input all the details mentioned above, 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 tool can be helpful in several ways:

  • Accurate EMI with no place for any error.
  • Quick calculation saves your time.
  • It works with current gold rates in India.
  • Not only quick, but it can deal with multiple comparisons, and you can choose the lowest.
  • Help in budget planning as the amount is never wrong.
  • Visit dialabank for the EMI calculator tool.

FAQs About Instant Gold Loan Kotak Mahindra Bank Calculator

 How to get a Gold Loan license?

If you want to dive into the gold loan business then you shall get approval from the RBI. You will need to submit the required documents along with the application form to the RBI and get yourself registered.

Alternatively, you can also register as a Nidhi Company. It is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between its members.

 Lowest Gold Loan interest rate in which bank?

Currently, HDFC Bank is offering the lowest rate of interest for a gold loan starting at 10.50% per annum. HDFC Bank grants loans with an LTV (Loan to Value) Ratio of 75%.

 How much Gold Loan can I get per gram?

Depending upon the purity of your gold, banks offer gold loans between ₹ 3,506 to ₹ 4,621 per gram of gold.

✅ Which bank is best for Gold Loan?

HDFC Bank currently offers the best gold loan services in India. Starting with the low rates of interest, HDFC Bank offers various other facilities like a personal locker for your gold, same-day disbursement of the loan amount, and the highest LTV ratio to name a few.