What Is Nainital Bank Gold Loan Calculator
Gold prices are inconsistent, and calculating your EMIs can be troublesome and inaccurate, and it can create issues, and incorrect amounts can make a wrong decision. If you are thinking about getting credit by providing gold in your possession from the Nainital Bank or any bank or financial institute, use Nainital Bank Gold Loan Calculator to calculate your EMIs. Gold rates are increasing Nainital Bank Gold Loan Calculator can give you the best value for your gold.
Nainital Bank Gold Loan Calculator is a user-friendly tool that supports a quick calculating function; there are no limits to use it; you can use it on your desktop at home or maybe office. Nainital Bank Gold Loan Calculator is available on Dialabank; you can use it whenever you want, and you can find the right amount you will pay every month on your loan.
Nainital Bank Gold Loan Calculator can also help you compare the interest rates of various banks in India, which can help you while deciding which offer you should decide on. So better result and accurate amount choose Nainital Bank Gold Loan Calculator tool by Dialabank.
About Gold Loan
Getting a gold loan is a lot easier than you think as you provide your gold as assurity to the creditors making the process easier. Suppose you choose Dialabank for your gold loan. In that case, your loan will be processed within minutes, and you can use the Nainital Bank Gold Loan Calculator to calculate and find the precise amount you will have to pay; you can also get the help of our expert with complete assistance and updates. Nainital Bank Gold Loan Calculator works with all changes in the gold price that takes place.
Gold is a popular item among all Indians, but it’s also expensive, limiting individual wish to buy the gold to make the possible purchase banks provide the loan after they get the possession of your gold adding to your security 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 period decided by you. You can compare different interest rate offered by different banks with the help of Nainital Bank Gold Loan Calculator . You can calculate different interest rates, tenure, or both provided by various banks.
Why Is Gold Loan Preferred?
- Flexibility: A gold loan can be flexible. If you choose bullet repayment, you can decide the maturity date according to your requirement.
- Low interest: Banks offer low-interest rates as they possess gold.
- Prepayment charges Prepayment is not chargeable.
- Documents: A gold loan is a simple process compared to other loans with fewer documents required.
- Speed: Simple documentation help you get your loan sanctioned faster than other loans.
Benefits of Using Nainital Bank Gold Loan Calculator
Benefits of Nainital Bank Gold Loan Calculator
- Best value: Nainital Bank Gold Loan Calculator will give the best value for your gold according to the current gold rate in Nainital.
- Quick Results: Nainital Bank Gold Loan Calculator is a tool developed for all customers and is faster, calculating EMI in seconds, saving your precious time.
- Accurate: Nainital Bank Gold Loan Calculator provides the precise amount you need without any error.
- Latest price: Nainital Bank Gold Loan Calculator is a tool developed with multiple functions. Nainital Bank Gold Loan Calculator will calculate according to all changes in the gold price.
Gold Loan Eligibility Criteria
- Age: You can’t get a loan if you are below 18 with a maximum period of 70.
- Loan Amount: Loan amount cant exceed one crore.
- Employment Requirements: Employee with monthly or regular wages and self-employed individual.
- Gold as a Security: The gold deposited should be around 18 to 24 carats. and should meet the purity standard
- CIBIL Score Requirements: CIBIL score should be above 500
- Documents Required: 2 passport size photo, Identity proof, residential proof in case of rent, electric or water bills for last three months, agriculture land 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
Nainital Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: Gold is expensive and used for multiple purposes; buying it in a single go can be impossible for individuals with low income and people related to agriculture. EMI offers you to buy a loan by making easy payments; pay easy money for 12 months, and the gold is yours.
- Tenure: The tenure for Nainital Bank gold loan is 12 months
- Low interest: The interest rate is low for Nainital Bank Gold Loan as the bank posses your gold.
- Scheme: The banks provide various schemes; you get to choose any plan that suits your current situation.
Visit Dialabank for Nainital Bank Gold Loan Calculator
- Monthly payment: Monthly deduction won’t be suitable for some individuals.
What Is Bullet Repayment Scheme
Banks offer two types of repayment EMI and bullet repayment. EMI is a certain amount you need to pay every month for 12 months; in most cases, in case of bullet repayment, you don’t have to pay this EMI every month; you can pay the amount on its maturity date, and the bank decides. Some charges and interest may be charged as you get the flexibility of repayment.
Bullet repayment refers to paying the principal amount decided by you on its maturity date; 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 best suits people who want to get a loan for a short time; bullet repayment can help you save your money on interest.
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: Now, you can get rid of your monthly instalments and pay a swift amount on a fixed date decided by you.
- Short period loan: A bullet loan is best for short tenure gold loan. You can save money if you choose a period of fewer than six months.
- Flexible repayment schedule: Bullet repayment gives you the flexibility to pay as per your chosen maturity date.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: Some banks may charge more interest compared to other loans.
- Repayments: Saving your EMI and paying in one lump sum can be wrong if you choose bullet repayment for a longer tenure.
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:
- EMI amount is accurate.
- The calculation is swift, which saves your time
- It works with the changes in the gold price.
- It also allows you to try multiple options provided by banks to find the Gold loan suitable for you.
- You can adjust your monthly budget as you get the exact amount you are going to pay.
FAQs About Nainital Bank Gold Loan Calculator
✅ What are the Chances of Facing Rejection?
The loan is processed for disbursement only after proper verification of the gold supplied. Suppose it is discovered that the gold item is fraudulent, stolen, or missing a bill, or that the documents are not authentic, the odds of rejection increase. Otherwise, because the loan is granted based on gold grade and simple KYC paperwork, there is a trivial risk of it being denied.
✅ Do I Need to be an Existing Customer of a Bank to Avail a Gold Loan?
Some banks may need you to be a current client to receive certain benefits from a gold loan. On the other hand, many other banks do not require you to be a customer to apply for a gold loan. If you search for a gold loan outside your regular bank, reputable non-bank financial companies (NBFCs) are another choice.
✅ Do I Require a Guarantor for a Gold Loan?
No, a guarantor is not needed for a gold loan. In the case of a default, your gold is utilised as collateral.
✅ How does Gold Loan Work?
Loan Against Gold is very simple to understand as well as easy to avail. The Bank provides you with funds against your gold Jewelry. The amount depends upon the gold weight.
Table of Contents
- 1 What Is Nainital Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using Nainital Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 Nainital 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 Nainital Bank Gold Loan Calculator