Uttar Bihar Gramin Bank Gold Loan Calculator

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What Is Uttar Bihar Gramin Bank Gold Loan Calculator

Dialabank provides a free Uttar Bihar Gramin Bank Gold Loan Calculator to Uttar Bihar Gramin Bank Gold Loan Calculatorall its valued customers. Gold prices keep changing and if you are thinking about getting credit for gold in your possession from the Uttar Bihar Gramin Bank or any bank or financial institute, use Uttar Bihar Gramin Bank Gold Loan Calculator to calculate your EMIs. Gold rates are increasing in India. Uttar Bihar Gramin Bank Gold Loan Calculator can help you find the best value for your gold with today’s price.

Uttar Bihar Gramin Bank Gold Loan Calculator is a user-friendly tool with no limits to calculate and compare the interest rate provided by multiple banks. Uttar Bihar Gramin Bank Gold Loan Calculator is available on Dialabank; you can use it whenever you want, and you can find the right EMIs you will pay every month on your loan. Uttar Bihar Gramin Bank Gold Loan Calculator can also help you compare the interest rates of many different banks for better result, multiple options and accurate EMI information; use the Uttar Bihar Gramin Bank Gold Loan Calculator tool by Dialabank to get the best value for your gold.

For others like South Indian Bank Gold Loan Calculator visit dialabank

About Gold Loan

Uttar Bihar Gramin Bank provides gold loans to all individual for investment or personal use, less paperwork with a speedy 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 Uttar Bihar Gramin Bank Gold Loan Calculator to calculate and find the precise amount you will be paying; you will get our experts assistance and the best bank and value for your gold. Uttar Bihar Gramin Bank Gold Loan Calculator deals with all changes in the gold rate in Bihar.

Indian buy gold primarily for gifts at a wedding or wearing it on a special occasion, but it’s expensive, limiting your capacity to buy the gold to make these possible Uttar Bihar Gramin Bank Gold Loan Calculator is providing the gold loan. The bank offers you money by keeping your gold as collateral. You will get back your gold after a predetermined period; the maturity is flexible in a bullet repayment scheme.

Compare interest rate offered by different banks around you with the help of the Uttar Bihar Gramin Bank Gold Loan Calculator. You can calculate different interest rates, tenure or combine both provided by various banks in Bihar and the whole country.

Why Is Gold Loan Preferred?

  • Flexibility: You get to choose the maturity date in bullet repayment. In EMI repayment, you can choose anywhere between 6 to 36 months.
  • Low interest: The interest rate for gold loans is lower than other Loans. Uttar Bihar Gramin Bank’s Gold Loan interest rate is 7%.
  • Prepayment charges: Prepayment charges are 2% + GST; if payment is made within three months after three months, NIL
  • Documents: Gold loan will be sanctioned without any additional paperwork.
  • Speed: Less paperwork in all gold loans; hence, Uttar Bihar Gramin Bank will instantly provide you with the gold loan.

Benefits of Using Uttar Bihar Gramin Bank Gold Loan Calculator

The benefits of the Uttar Bihar Gramin Bank Gold Loan Calculator

  • Best value: Uttar Bihar Gramin Bank Gold Loan Calculator will give the best value for your gold according to the current gold rate in Bihar.
  • Quick Results: Results provided are quick in Uttar Bihar Gramin Bank Gold Loan Calculator.
  • Accurate: Uttar Bihar Gramin Bank Gold Loan Calculator gives you a detailed calculation.
  • Latest price: Uttar Bihar Gramin Bank Gold Loan Calculator is a user-friendly tool developed to automatically adjust the calculation to Bihar’s current trending gold price.

Gold Loan Eligibility Criteria

  • Age: Uttar Bihar Gramin Bank provides gold loan for individuals with a minimum age of 18 and with a maximum age of 70 years.
  • Loan Amount: Uttar Bihar Gramin Bank Gold Loan amount is 1 lakh, and it can go upto ten lakhs.
  • Employment Requirements: Loan is provided to Salaried individuals or self-employed.
  • Gold as a Security: The gold ornaments should be minimum of 18 carats, a minimum weight of 10 grams, and meet the international gold standard.
  • CIBIL Score Requirements: No minimum CIBIL score is required.
  • Documents Required: 2 passport size photo, any ID proof, proof of income, residential proof in case of rent, electric or water bills of 1 year, No land ownership proof for agriculture.

Gold Loan Eligibility Calculator

 

Minimum and Maximum Age
21 Yrs – 65 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.

 

Uttar Bihar Gramin Bank Gold Loan Calculator

 

Gold Loan per gram
₹ 2,776 to ₹ 3,393
Eligible Age 18 to 75 years
Loan Amount Eligibility
₹ 1,000 to ₹ 2,00,00,000
Lowest Gold Loan Interest Rates 0.095

 

Gold Loan EMI Payments

Advantages:

  • Easy payment: Instead of paying a lump sum amount, you get the opportunity to pay the amount anywhere between 6 to 36 months.
  • Tenure: The tenure for Uttar Bihar Gramin Bank Gold Loan Calculator is 6 to 36 months. If bullet repayment scheme, you can pay the amount according to your chosen maturity date.
  • Low interest: Uttar Bihar Gramin Bank Gold Loan interest rate is 7 per cent which is less than a personal loan; it has an interest rate of 9.99%.
  • Scheme: Nowadays, various banks provide varying schemes of a gold loan.
  • Visit Dialabank for Uttar Bihar Gramin Bank Gold Loan Calculator

Disadvantages:

  • Monthly payment: Biggest obstacle any individual faces is constant monthly payments.

What Is Bullet Repayment Scheme

Bullet Repayment, also known as balloon loan, is a repayment scheme where you pay the outstanding amount with all interest and principal on a predetermined date. The repayment is flexible as you choose the date you need for making the payment of the gold instead of making payments every month. It is suitable for 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 monthly payments if you choose the tenure for less than six months.

Two common types of repayment.

  • EMIs: EMI is the amount you need to pay every month for at least six months, and it can be extended upto 36 months.
  • Bullet repayment scheme: You don’t have to pay the EMIs you get the freedom to pay the whole amount on your chosen maturity date. The processing fee is 0.85%, plus the interest charged by the bank.

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: No monthly payment problems
  • Short period loan: Short tenure loan can give you benefits as you don’t have to pay interest for a longer time.
  • Flexible repayment schedule: Bullet repayment gives you the freedom of repayment as you decide the tenure as per your income standard.

Why Not Opt for A Bullet Repayment Scheme?

  • Interest: some bank may charge a higher ROI rate of interest.
  • Repayments: Missing repayment can make you pay higher charges than EMI.

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 9.50% 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 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:

  • Correct amount.
  • Save your time by quick calculation.
  • It Works by current gold rates.
  • Not only quick but can deal with multiple comparisons.
  • Help in budget planning.
  • Visit dialabank for the EMI calculator tool.

FAQs About Uttar Bihar Gramin Bank Gold Loan Calculator

 How to calculate Gold Loan interest?

Gold loan interest rates vary depending upon the lending institution, amount of loan availed, loan tenure, loan to value ratio, and quality of gold. One can easily check and compare these rates online with Dialabank.

 How does Gold Loan work?

The gold loan works like any other secured loan, you submit your gold along with the required documents with the lender. The loan amount, rate of interest, and other terms are then decided based upon the valuation of your gold. Once everything is finalized your gold is securely locked away and the loan amount is either transferred to your bank account or given in cash.

 How to take Gold Loan?

To take a gold loan you can visit the nearest banking or NBFC branch that offers gold loan service along with your gold and basic documents like Aadhar Card and PAN Card. You can also apply online at Dialabank’s digital platform for getting the lowest rates, better convenience and personalized assistance.

✅ What is the Gold Loan interest rate?

Gold loan interest is the monthly amount a borrower pays in addition to the principal loan amount. Different banks and financial institutes offer different rates of interest. On average, this rate varies between 10.50% and 12% per annum.

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