What Is Suryoday Small Finance Bank Gold Loan Calculator
Gold prices are fluctuating, and calculating your EMIs can be troublesome and have higher chances of faulty amounts, and it can create issues, and errors in amounts can make a wrong decision. If you are thinking about getting a loan from the Suryoday Small Finance Bank or any bank or financial institute, use Suryoday Small Finance Bank Gold Loan Calculator to calculate your EMIs.
Gold rates are increasing in India Suryoday Small Finance Bank Gold Loan Calculator can give you the best value for your gold by comparing the interest.
Suryoday Small Finance Bank Gold Loan Calculator is a user-friendly tool that supports a quick calculating function. You just need to enter few details, and it will show the exact amount without any fault; there are no limits to use it; you can use it on your desktop at home or maybe office. Suryoday Small Finance 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.
Suryoday Small Finance 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 results and accurate EMI use Suryoday Small Finance 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 Suryoday Small Finance 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.
Suryoday Small Finance 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 individuals who wish to buy the gold to make the possible purchase banks provide the loan after they get 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 rates offered by different banks with the help of the Suryoday Small Finance 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 your gold. Suryoday Small Finance Bank Gold Loan interest is 7%.
- 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 Suryoday Small Finance Bank Gold Loan Calculator
Benefits of Suryoday Small Finance Bank Gold Loan Calculator
- Best value: Suryoday Small Finance Bank Gold Loan Calculator will give the best value for your gold according to the current gold rate in India.
- Quick Results: Suryoday Small Finance Bank Gold Loan Calculator is a tool developed for all customers and is faster than any human, calculating EMI in seconds and saving your precious time.
- Accurate: Suryoday Small Finance Bank Gold Loan Calculator provides the precise amount you need without any fault.
- Latest price: Suryoday Small Finance Bank Gold Loan Calculator is a user-friendly tool developed with multiple functions. Suryoday Small Finance 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 maximum age required is 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 minimum of 18 carats. And should meet the purity standard.
- CIBIL Score Requirements: CIBIL score should be above 500
- Documents Required: Documents for Suryoday Small Finance Bank Gold loan two 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
Suryoday Small Finance Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: Gold is popular among Indians as it is used on various occasions; buying it in a single go can be impossible for individuals with below-average income. EMI offers you to buy a loan by making easy payments; pay easy money for 12 months, and the gold is yours.
- Low interest: The interest rate is low for Suryoday Small Finance Bank as the bank posses your gold as security.
- Tenure: The tenure for Suryoday Small Finance Bank gold loan is 12 months
- Scheme: The banks provide various schemes; you get to choose any plan that suits your standards.
Visit Dialabank for Suryoday Small Finance Bank Gold Loan Calculator
- Monthly payment: Continues monthly payment for 12 months.
What Is Bullet Repayment Scheme
Bullet repayment is a scheme provided by banks to their customers where you get to choose to pay the outstanding loan amount on its maturity date; you get the freedom of choosing the tenure period and its date. Best for people who can pay the amount on short term and bullet repayment scheme helps get rid of those sticky EMIs from your back now you don’t have to pay the EMI every month.
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.
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: Monthly deduction can be a headache for everyone; you can get rid of it by using bullet repayment.
- Short period loan: If you think you can pay the principal amount in less than six months, it can help you save a lot of money and hectic EMIs.
- Flexible repayment schedule: As you are paying a lump sum amount with interest, banks provide you freedom of choosing maturity date.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: Some banks charge enormous amounts of interest rates because they provide you flexibility in maturity
- Repayments: People think paying lumpsum according to their date is beneficial but only for short tenure; if you extend your loan, you might regret it.
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 Suryoday Small Finance Bank Gold Loan Calculator
✅ How is Gold Loan calculated?
The gold loan amount depends upon the purity of one’s gold and the current market gold rate. The rate of interest is then calculated based upon a number of factors including, loan amount, loan tenure, relationship with the lender, and loan to value ratio.
✅ How much Gold Loan can I get?
Most Banking and Non-Banking institutes offer gold loans with an LTV ratio between 65% and 75%. This means a person can avail a loan amount of up to 75% of their gold’s market value. This amount varies between Rs. 10000 to Rs. 50 Lakhs depending upon the purity of one’s gold and the customer’s loan requirement.
✅ How to get a Gold Loan?
To get a gold loan a person can either walk into the nearest gold loan offering bank branch with their gold and basic documents like Aadhar Card and PAN Card or they can fill an inquiry form and apply online at Dialabank’s digital platform for better convenience and personalized assistance.
✅ What is the procedure for a gold loan?
The gold loan procedure is quite simple and straightforward. Borrower visits the lender with their gold articles and basic documents like Aadhar Card and PAN Card. The valuation of the gold is done and a loan amount and rate of interest is then offered to the borrower. Upon agreement, the gold is safely locked and the loan amount is either transferred to the borrower’s bank account or handed over in cash.
Table of Contents
- 1 What Is Suryoday Small Finance Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using Suryoday Small Finance Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 Suryoday Small Finance 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 Suryoday Small Finance Bank Gold Loan Calculator