What Is the JK Bank Gold Loan Calculator
JK Bank Gold Loan Calculator is a perfect solution to your problems. Calculating your EMIs can be inaccurate, which creates issues in your decision. If you are thinking about getting a loan against your Jewellery or any gold in your possession from the JK Bank Gold Loan Calculator or any bank or financial institute, use The JK Bank Gold Loan Calculator to calculate your EMIs.
JK Bank Gold Loan Calculator is a tool created for all our customer’s, and it’s free of cost; you can use it whenever you want, and there are no limits to use.
JK Bank Gold Loan Calculator is available on Dialabank and can help you calculate the amount you will be paying every month for the borrowed loan. You can compare interest rate with the help JK Bank Gold Loan Calculator.
You can calculate different interest rates, tenure, or both provided by different banks and go with one that suits your income.
About Gold Loan
All banks give out loans after holding your gold which makes the procedure easier. The bank offers you the required money by keeping your gold as collateral, and you will get back your gold after a predetermined time. The gold loan usually is for one year; in some cases, it can go beyond one year, but it is not recommended as you might have to pay additional interest.
The procedure of getting a gold loan is a lot easier than you think as you provide your gold as assurity giving you additional security and makes the process easier.
If you choose Dialabank for your gold loan, in that case, your loan will be processed within minutes, and you can use the JK Bank Gold Loan Calculator to calculate and find the precise amount you will have to pay as per your standard; you can also get the help of our expert with complete assistance and well-informed updates. JK Bank Gold Loan Calculator works with all changes in the gold price.
Why Is Gold Loan Preferred?
- Flexibility: A gold loan gives you the flexibility of payment; you can use bullet repayment and choose to pay the amount as per your preference.
- Low interest: Other loan interest rates are higher, whereas if you apply for a gold loan interest rate is lower.
- Prepayment charges Bank charge prepayment fee for other loans, but prepayment fee is not levied for gold loans.
- Documents: A gold loan is a simple and easy process that can be provided with less documentation.
- Speed: Less documentation process makes your loan application process faster.
Benefits of Using JK Bank Gold Loan Calculator
Benefits of JK Bank Gold Loan Calculator
- Best value: JK Bank Gold Loan Calculator will help you find the best value of your gold by comparing the interest rate provided by other banks.
- Quick Results: JK Bank Gold Loan Calculator is a tool made especially for customers and is faster than any human, which will help you get the amount you need to pay in few moments.
- Accurate: The accuracy of the JK Bank Gold Loan Calculator is above par with zero mistakes. A human mind can make mistakes, but the JK Bank Gold Loan Calculator is accurate.
- Latest price: JK Bank Gold Loan Calculator is developed to calculate with changes in Gold rate. Gold rates are unpredictable and can be affected by various factors; the calculator will detect them and give you the precise amount with no mistakes.
Gold Loan Eligibility Criteria
- Age: Age required (min-max) (21-65)
- Loan Amount: Banks offers a Gold Loan up to Rs 20 lakhs; in some cases, it may go higher, but it won’t go beyond ₹ two crores.
- Employment Requirements: No employment is required; you can apply for a gold loan even if you don’t have a monthly income.
- Gold as a Security: The gold deposited should be around 18 to 24 carats. The average gold price of the previous month for 22-carat gold is adjusted accordingly and should meet the purity requirements.
- CIBIL Score Requirements: No CIBIL scored is required bank might check your repayment history.
- Documents Required: Identity proof and address proof is must get EMI or bullet repayment based gold.
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
JK Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: You can choose to pay some amount instead of paying the total price at once.
- Tenure: The tenure for a goal loan is 12 months, but it can be extended.
- Low interest: The gold loan is given against your gold, so the interest rate charged is less.
- Scheme: Banks provide a flexible plan for gold loan
Visit Dialabank for JK Bank Gold Loan Calculator
- Constant deduction: EMI deduction every month from your account can be a burden
What Is Bullet Repayment Scheme
Any individual who makes full payment of an outstanding loan mostly on its maturity date instead of paying continues EMI is called bullet repayment. Bullet repayment saves you from paying EMIs every month. The total amount is to be paid at a predetermined period as per your comfort. A balloon loan is another term used for bullet payment; it is mainly used for banking and real estate loans.
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: A bullet repayment scheme saves you from paying EMIs every month and pay the total amount according to your preference.
- Short period loan: A bullet repayment scheme is beneficial for less than six months. It can be unprofitable for a long term loan.
- Flexible repayment schedule: The bullet Repayment scheme allows you to make repayment according to your standard.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: As the bank gives you a flexible date of payment, they might charge extra interest.
- Repayments: If you extend your tenure, you might end up paying more than the usual EMI.
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
- 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.
- It saves your time.
- EMI amount is accurate without any mistake.
- It works with the trending gold price.
- It also allows you to try multiple options to find the Gold loan suitable for you.
- By knowing the exact amount of EMI, you can adjust your monthly budget.
FAQs About JK Bank Gold Loan Calculator
✅ What is the Gold Rate Today?
Gold rate today in Jammu and Kashmir today is ₹4621
✅ What are JK Bank Gold Loan Pre-closure charges?
The Bank pre-closure charges are 2%+GST (Within 3 Months), 0 (After three months)
✅ What is a balloon loan?
A balloon loan is another term used for bullet payment; it is mainly used for banking and real estate loans. Any individual who makes full payment of an outstanding loan mostly on its maturity date instead of paying continues EMI is called bullet repayment.
✅ Does JK bank has Net banking facility for gold loan?
Yes, JK bank has Net banking facility for gold loan you can visit dialabank for more information.
Table of Contents
- 1 What Is the JK Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using JK Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 JK 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 JK Bank Gold Loan Calculator