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  • Why use Gold Loan Calculator and How to Calculate Gold Loan Rate per Gram
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Why use Gold Loan Calculator and How to Calculate Gold Loan Rate per Gram

admin1 October 27, 2022 3 min read
Gold Loan

The gold loan calculator is an online tool that helps you know your gold loan eligibility. The gold loan rate per gram eligibility is calculated based upon your age, type of gold, and weight of gold. In addition, it calculates the maximum loan amount that you are eligible for and how much EMI you can pay. The eligibility calculator is convenient and easy to use. By using it, we can also check which banks we are eligible for. Interest rates are lower for a higher loan amount. 

The gold loan rate per gram eligibility can be easily calculated using the gold loan calculator. We are only required to fill in details like Name, Contact Number, Monthly Income, Place of Residence, Weight in Gold, and Verify OTP. Based on our inputs, we will get the bank offers for which we are eligible. Then they process our gold loan application based on the best available offer and our preference.

Gold Loan Calculator calculates the gold loan eligibility per gram based on the total weight of the jewelry, level of gold purity, past 30 days’ average price of 22-carat gold, and loan to value offered by our bank.

Lenders calculate our gold loan eligibility purely based on the weight and purity of gold submitted by us. They do not check any other demographic parameters such as income, work experience, employment, etc. The banks, however, do check CIBIL scores for gold loans of a high amount, typically more than Rs 1 lakh, before sanctioning an application. We can use an online Gold Loan Eligibility Calculator to know the maximum amount we can get against our gold at the current gold price.

Gold loan per gram is the amount given as a loan for every gram of pledged gold.

The benefits of a gold loan calculator and how to apply for gold loans

  • Faster calculation: It delivers swift results. On entering the required values, it will provide details about the EMIs and other loan components instantly.
  • Accurate results: EMIS and total interest payable can be computed manually. However, manual calculations are time consuming and leave room for errors. With this online calculator, such issues can be easily avoided. Users get accurate results every time, with any value entered.
  • Easy to use: An online gold interest calculator is easy to use and navigate through. It features specific fields to enter different loan components such as interest rate, the weight of gold jewelry, gold carat, payment method, and tenor. It then displays the results.
  • Financial Planning: This calculator also aids in financial planning. Since it provides details about EMIS and interest  beforehand, users can plan repayments better. 

Gold Loan EMI Calculator,Gold loans have gained traction as easy means of availing funds in the past few years. It is recommended to use a gold loan calculator before applying for the gold loan to gauge the repayment liability beforehand.

The Bajaj Gold Loan EMI Calculator provides accurate results in no time upon entering a few important parameters. The gold loan EMI calculator is one of the most beneficial tools borrowers use to calculate their EMI against the plan of a gold loan, a self-owned loan, or gold ornaments.

Gold ornaments can also be kept as collateral security with your lender until your loan repayment is made on time. The online gold loan calculator is also very easy to use. You should be aware of the EMI instalments, which need to be paid every month.

The interest rate you pay on a gold loan will increase in proportion to the size of your loan. Your interest rate may be reduced if you have a stable, high income. Your gold ornament’s gold loan rate per gram is directly proportional to the amount you may borrow.

 

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