State Bank of Patiala Gold Loan Calculator

GET GOLD LOAN
AT LOWEST INTEREST RATE

⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.79% p.m.

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    State Bank of Patiala Gold Loan Calculator

    What Is The State Bank of Patiala Gold Loan Calculator?

    Confused by the changes in the gold price, try the State Bank of Patiala GoldState Bank of Patiala Gold Loan Calculator Loan Calculator. Explaining factors affecting the gold rate is not possible, but Dialabank provides you with a tool that can calculate your EMIs with the current price change in Patiala or India.

    Many banks in India provide gold loans, the interest rate offered by banks differs, and calculating these EMIs can be troublesome. The calculation should be correct as the wrong audit will lead to the wrong choice of Bank, which can impact your decision.

    Try the State Bank of Patiala Gold Loan Calculator as it deals with all different interest rates provided by banks and current price changes in Patiala.

    State Bank of Patiala Gold Loan Calculator is an easily accessible tool developed by Dialabank for calculating your EMI with no place for inaccuracy in the amount. It can help you save your precious time, and you can use that time to improvise your decision and can help you with better budget planning.

    A human mind can make mistakes in calculation, but the State Bank of Patiala Gold Loan Calculator is an exception. You can use the State Bank of Patiala Gold Loan Calculator for the interest rates of different banks in Patiala or the whole nation.

    About Gold Loan

    Gold loan is a financial product provided by the State Bank of Patiala when a person urgently needs money. The amount you applied for is disbursed instantly because the process of a gold loan is less time-consuming. After all, your Gold is in the Bank’s possession, providing you with additional security on your loan.

    State Bank of Patiala Gold Loan will provide you with the loan amount by evaluating your Gold according to the current gold rate in Patiala. Indians use gold mainly for gifts at festivals and weddings. Some use it for investment. However, the price of Gold in India is high, which limits your ability to buy Gold.

    State Bank of Patiala is providing an opportunity to individuals who can’t purchase Gold in a lump sum by providing them with a gold loan; you can buy Gold by paying small amounts up to 36 months.

    Dialabank provides the State Bank of Patiala Gold Loan Calculator to calculate and determine the exact amount you will be paying on your EMIs; Our experts will help you find the best Bank and the best value for your Gold. State Bank of Patiala Gold Loan Calculator deals with all changes in the current gold price in Patiala.

    Apply now, and Dialabank will help you get a gold loan instantly.

    Why Is Gold Loan Preferred?

    • Flexibility: Repayment is flexible in the State Bank of Patiala for Gold Loan.
    • Low interest: The interest rate is lower compared to other loans. The current interest rate is 7% in the State Bank of Patiala for any Gold Loans.
    • Prepayment charges: Prepayment in State Bank of Patiala for Gold Loan is 1%, including (GST).
    • Documents: A gold loan provided by the State Bank of Patiala is a secured loan, and the procedure requires less Paperwork. 
    • Speed: The loan procedure is faster than other loans, and the State Bank of Patiala will instantly hand out the loan amount.

    Benefits of State Bank of Patiala Gold Loan Calculator

    • Best value: State Bank of Patiala Gold Loan Calculator will give you the best value for your Gold according to any changes in the current gold rate in Patiala.
    • Quick Results: Calculating without the tool can be time-consuming, whereas the State Bank of Patiala Gold Loan Calculator gives you results in seconds.
    • Accurate: State Bank of Patiala Gold Loan Calculator gives you the exact amount you need without any error in amount.
    • Latest price: State Bank of Patiala Gold Loan Calculator deals with the trending gold price in Patiala.

    Gold Loan Eligibility Criteria

    • Age: State Bank of Patiala Gold Loan for all Indian citizens with a minimum age of 18 and up to 75.
    • Citizenship: You must be an Indian citizen to get a gold loan from the State Bank of Patiala.
    • Loan Amount: State Bank of Patiala provides gold loans up to ₹75 lakhs.
    • Employment Requirements: No employment is required for a gold loan in the State Bank of Patiala.
    • Gold as a Security: The Gold provided should be minimum of 18 carats, a minimum weight of 10 grams for ornaments in State Bank of Patiala any Gold Loan.
    • CIBIL Score Requirements: Required CIBIL score is 500 in the State Bank of Patiala for a gold loan.
    • Documents Required: Photographs, Identity Proof (anyone), Residence Proof (anyone), Agricultural Land Proof (if applicable), Demand Promissory Note(will be arranged Bank).

    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.

    State Bank of Patiala Gold Loan Calculator

    Gold Loan EMI Payments

    Advantages

    • Easy payment: Paying lumpsum is not possible for many individuals. Easy payments can be done for anywhere between 6 to 36 months rather than paying the whole amount at once. 
    • Tenure: The tenure is 6 to 36 months for the State Bank of Patiala Gold Loan.
    • Low interest: The lowest interest rate is 7% for the State Bank of Patiala Gold Loan. 
    • Scheme: State Bank of Patiala provides various schemes for Gold Loan.

    Visit Dialabank for State Bank of Patiala Gold Loan.

    Disadvantages

    • Monthly payment: Monthly payment can be a huge barrier for anyone.

    What Is Bullet Repayment Scheme

    When you pay the outstanding amount of your loan, including all interest and other charges on its maturity date, it is a bullet repayment scheme. The bullet Repayment scheme is also known as balloon Loans and is mainly used for banking and real estate. The repayment is flexible as you choose the maturity date for making the payment of the loan instead of making payments every month.

    It is suitable for people who can repay the loan amount in a short time. If you take a loan for less than six months, it can help you save a lot of money on interest.

    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: You can now get rid of Regular monthly EMIs.
    • Short period loan: Short period loan can help you save a good amount of money as interest is charged for a shorter period.
    • Flexible repayment schedule: The bullet repayment scheme gives the borrower privilege of choosing the repayment date.

    Why Not Opt for A Bullet Repayment Scheme?

    • Interest: The rate of interest charged by some banks are higher.
    • Repayments: You will have to pay more than what you expect if you miss the maturity date.

    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 loan tenure

    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.

    • You can compare the loans by different banks in Patiala.
    • Precise amount without any flaws.
    • It saves your time by providing immediate results.
    • Deals with current price change in Patiala
    • Help you with better planning by giving you the actual amount you need to process further.

    Visit Dialabank for the EMI calculator tool.

    FAQs About State Bank of Patiala Gold Loan Calculator

    ✅ What Is The State Bank of Patiala Gold Loan Closure Procedure?

    • Just go to the Bank with the documents.
    • Write a letter for pre-closure of the State Bank of Patiala Gold loan account.
    • Pay the pre-closure charges as per the State Bank of Patiala Gold Loan.

    ✅ What Is The State Bank of Patiala Gold Loan Overdraft Scheme?

    Simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at State Bank of Patiala gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. No need to visit the State Bank of Patiala branches. Just log in to the State Bank of Patiala online banking portal, and from there, you can fill out a form and get an overdraft under your name.

    ✅ What Happens If Someone Defaults State Bank of Patiala Gold Loan?

    When you default on your Gold Loan, the Bank will first remind you of your pending dues. Then a legal notice is issued at your given address. On continuous defaulting, the Bank gets the legal rights to sell your Gold to recover the entire sum.

    ✅ How Much Gold Loan Can I Get Per Gram In The State Bank of Patiala?

    The rate of Gold Loan per gram depends on the quality of your Gold and the price of Gold in the market. State Bank of Patiala provides 75-90% funding on the market price of the Gold.