What Is Vananchal Gramin Bank Gold Loan Calculator
Why waste your time calculating gold loan EMI on your own when Dialabank provides a free Vananchal Gramin Bank Gold Loan Calculator.
Gold prices keep changing and if you are thinking about getting credit for gold in your possession from the Vananchal Gramin Bank or any bank or financial institute, use Vananchal Gramin Bank Gold Loan Calculator to calculate your EMIs. Gold rates are increasing in India Vananchal Gramin Bank Gold Loan Calculator can help you find the best value for your gold.
Vananchal Gramin Bank Gold Loan Calculator is a user-friendly tool; there are no limits to use it for comparing the interest rate provided by multiple banks. Vananchal Gramin 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.
Vananchal Gramin Bank Gold Loan Calculator can also help you compare the interest rates of various banks for better results and accurate EMI information; use the Vananchal Gramin Bank Gold Loan Calculator tool by Dialabank.
About Gold Loan
Getting a gold loan from Vananchal Gramin Bank Gold Loan is a quick and simple process. 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 Vananchal Gramin 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 which will be essential for you. Vananchal Gramin Bank Gold Loan Calculator deals with all changes in the gold rate.
People’s desire to buy gold is mostly for gifts or wearing it on a special occasion, but it’s expensive, limiting your capacity to buy the gold to make these possible banks provide the loan. The bank offers you money in return by keeping your gold as collateral. You will get back your gold after a predetermined period; in case of bullet repayment, the date is flexible, and you get the freedom to decide.
You can compare different interest rates offered by various banks around you with the help Vananchal Gramin Bank Gold Loan Calculator. You can calculate different interest rates, tenure or combine both provided by various banks in India.
For other cities like JK Gramin Bank visit Dialabank.
Why Is Gold Loan Preferred?
- Flexibility: The maturity date is flexible.
- Low interest: The rate of interest for gold loans is lower than other Loans starting from 7%
- Prepayment charges prepayment 2% + GST if the payments are made before three months after three months no prepayment charges.
- Documents: Your gold is secured with the banks making it easier by a simple procedure and less paperwork.
- Speed: Vananchal Gramin Bank Gold Loan will provide you credit in a speedy process as gold loans require less paperwork.
Benefits of Using Vananchal Gramin Bank Gold Loan Calculator
The benefits of the Vananchal Gramin Bank Gold Loan Calculator are as follow:
- Best value: Vananchal Gramin Bank Gold Loan Calculator Calculator will give the best value for your gold according to the current gold rate in your region.
- Quick Results: Vananchal Gramin Bank Gold Loan Calculator is a tool that provides you with the answer in spilt seconds.
- Accurate: Vananchal Gramin Bank Gold Loan Calculator provides the precise amount you need without any failure.
- Latest price: Vananchal Gramin Bank Gold Loan Calculator is a tool developed to automatically adjust the calculation to the latest gold price in India.
Gold Loan Eligibility Criteria
- Age: If you are Indian, you can get a loan starting with a minimum age of 18 with a maximum age of 75.
- Loan Amount: Vananchal Gramin Bank provides a Minimum of 75 % LTV and a maximum of one crore
- Employment Requirements: No employment is required if you are an Indian citizen.
- Gold as a Security: The gold deposited should be around 18 to 24 carats minimum of 10 grams, and should meet the purity standard
- CIBIL Score Requirements: Required CIBIL score is above 500
- Documents Required: 2 passport size photos, Aadhar card, residential proof in case of rent, electric or water bills for last three months, agriculture land ownership 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
Vananchal Gramin Bank Gold Loan Calculator
Gold Loan EMI Payments
- Easy payment: Instead of paying the whole amount, you get at least 12 months to pay the bank.
- Tenure: The tenure for Vananchal Gramin Bank Gold Loan is flexible 6 to 36 months.
- Low interest: The interest rate is low. Vananchal Gramin Bank Gold Loan interest rate is 7% per annum.
- Scheme: Nowadays, various banks provide disparate schemes suitable for borrowers.
- Visit Dialabank for Vananchal Gramin Bank Gold Loan Calculator
- Monthly payment: Monthly deduction can be a headache.
What Is Bullet Repayment Scheme
Bullet repayment scheme refers to paying the principal amount 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, and you can get rid of paying money every month.
Banks offer two types of repayment EMI and bullet repayment schemes. EMI is the amount you need to pay every month for at least six months; in most cases, in case of bullet repayment, you don’t have to pay these EMIs you get the freedom to pay the amount on the selected maturity date.
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: A bullet repayment scheme help you get rid of EMIs that you pay every month.
- Short period loan: If you are looking for a short tenure loan, you will save a lot of money.
- Flexible repayment schedule: Bullet repayment gives you a flexible maturity date.
Why Not Opt for A Bullet Repayment Scheme?
- Interest: You get the freedom of maturity date, and the bank may charge you more interest.
- Repayments: Many individuals think paying as a whole is better; sometimes, it can backfire on you if things go wrong.
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:
- Your EMI calculation can be wrong, but the tool is accurate.
- Quick results help in saving your time.
- It works with all changes in the gold price.
- It also allows you to try various options provided by banks to find the Gold loan suitable for you.
- You can adjust your budget as you get the exact amount you are going to pay.
FAQs About Vananchal Gramin Bank Gold Loan Calculator
✅ What is LTV in a loan against gold?
LTV is Loan to Value Ratio, it is basically the amount of loan you can get against gold as collateral. In India, LTV for a loan against gold is set at 75% by RBI for all the banking and non-banking financial institutes. For example, if your gold is valued at Rs. 1 Lakh in the market then at 75% LTV you can avail of a maximum loan amount of Rs. 75,000.
✅ What is the interest rate for an agriculture gold loan?
Agricultural gold loans start at an interest rate of 7% per annum. A person is required to present proof of agricultural land and cultivation along with the basic documents such as an Aadhaar Card and PAN Card that are required.
✅ What is an Agri gold loan?
Agri gold loan is a loan against gold particularly for farmers that is available for agricultural purposes. The loan amount disbursed under the Agri gold loan can only be used for agricultural and allied activities. One has to present the proof of agricultural land and cultivation along with the basic documents required for a loan.
✅ What is Gold Loan EMI calculator?
Gold loan calculator is a tool used to calculate the worth of one’s gold and the loan amount one is eligible for based upon the weight and purity of their gold. It is a very basic tool to get an idea of how much loan a person can avail of against their gold.
Table of Contents
- 1 What Is Vananchal Gramin Bank Gold Loan Calculator
- 2 About Gold Loan
- 3 Why Is Gold Loan Preferred?
- 4 Benefits of Using Vananchal Gramin Bank Gold Loan Calculator
- 5 Gold Loan Eligibility Criteria
- 6 Gold Loan Eligibility Calculator
- 7 Vananchal Gramin 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 Vananchal Gramin Bank Gold Loan Calculator