Pragathi Krishna Gramin bank Gold Loan Calculator

What is the Pragathi Krishna Gramin bank gold loan calculator?

Pragathi Krishna Gramin bank Gold Loan Calculator is a perfect solution to your financial calculation problems. Calculating your EMIs can be exhausting and often turn out to be inaccurate, which leads to wrong decisions.

If you are thinking of getting a loan against your Jewellery or any gold in your possession from the Pragathi Krishna Gramin or any other bank or financial institution, use The Pragathi Krishna Gramin Bank Gold Loan Calculator to calculate your EMIs.

Pragathi Krishna Gramin Gold Loan Calculator is a tool created for all our customers, and guess what? It’s totally free of cost; you can use it whenever you want, and there are no limits to the number of times it can be used.

Pragathi Krishna Gramin bank Gold Loan Calculator is available on Dialabank and can help you calculate the amount you will be paying every month for the borrowed loan. You can compare interest rates with the help of the Pragathi Krishna Gramin bank Gold Loan Calculator. You can calculate different interest rates, tenure, or both provided by different banks and go with one that suits your income.

About Gold Loans

Gold loans are regarded as one of the most secured forms of loans. Since early times, gold has been used as a measure of value and as a means of exchange. It is extremely easy to avail of a gold loan, provided you meet the eligibility criteria, and if you do, the only thing you need to do is submit the gold and necessary documents and take away your Loan amount.

The gold loan lenders would require you to mortgage your gold in exchange for the gold loan amount. The gold loan can be taken against any kind of gold, not just jewellery. The tenure of gold loans is the shortest of all the loan categories out there. Gold loan providers are known to be very quick with document processing as well as accessibility.

When a person applies for the gold loan from Dialabank, they get the option of leveraging the easy-to-use Pragathi Krishna Gramin Bank Gold Loan Calculator to calculate their monthly payouts instead of the loan.

Why is Gold Loan preferred? 

Gold loan is preferred  due to the following reasons:

• The interest rates are minimal
• Low tenure
•  Flexible/part repayment options
• Quick disbursal of the loan amount

Benefits of using Pragathi Krishna Gramin Gold Loan Calculator

The benefits of using Pragathi Krishna Gramin bank gold loan calculator includes :

• No error while calculating the EMIs provided the amount has been entered correctly by the user
• No need to worry about the fluctuating gold loan rates as this Punjab Grameen Bank gold loan calculator takes the fluctuations into consideration while calculation.
•  While calculating, the latest gold loan per gram prices is considered.

Gold loan Eligibility Criteria

The eligibility criteria for obtaining of gold loan is:

• The minimum age requirement is 21years and the maximum age should be 65 years.
• The loan amount for Gold ranges from rupees 20 lakhs up to rupees 2 crores.
• Any person with any occupation can apply for a goal loan, there is no occupational requirement for applying for a gold loan
• Homemakers, salaried employees, or self-employed people can apply for a gold loan.
• The deposited gold should be between 20 to 24 carat.
• Cibil score is not mandatory for applying for a gold Loan
• The only two documents required for a gold loan are identity proof and address proof documents.
• The income proves the document is not mandatory if you are applying for a loan.

Gold Loan eligibility calculator

Pragathi Krishna Gramin bank Gold Loan Calculator

Gold Loan EMI Payment

Advantages

• This is more suited for people who want a loan for a longer duration of time
• The interest rate on EMI options are better than others
• Paying in instalments helps in planning the expenses better.

Disadvantages

• It can be troublesome to few as the instalments are to be paid every month and can hinder your monthly budgets for a longer duration of time.

What is a bullet repayment scheme? 

It refers to a scheme in which the entire outstanding amount is paid at once at the time of maturity. For example, a single payment of the whole principal amount of a bond after its maturity. Loans with this scheme are sometimes referred to as balloon loans.

EMI Gold Loan scheme with Bullet Repayment Scheme comparison

Why opt for a bullet repayment scheme?

Reasons, why you should go for a bullet repayment scheme, are:

• Reduces the stress to repay the principal amount every month
• It also saves you from the extra interests that otherwise would have charged on the principal amount
• For short-term gold loans, it is the most favourable scheme

Why not go for a bullet repayment scheme?

Reasons, why you should not go for a bullet repayment scheme, are:

• They put offer very low LTV and charge higher interest rates.
• The effective interest rate in a bullet repayment is higher even than the quoted interest dream is the same as that of the EMI gold loan interest.

Compare Gold Loan Rate per gram and lowest EMIs of all banks

How does Dialabank’s gold loan calculator work?

The Dialabank gold loan calculator would require you to enter the following details :

•  The interest rate of the scheme that you have chosen
•  The loan amount for the chosen gold principal
•  The loan period

After entering the values, just press enter. Your EMI would be calculated and the results would be on your screen.

Why should you use the calculator tool by Dialabank?

The calculator tool provided by Dialabank should be used for:

• Doing accurate EMI calculation.
• Quick results
• Easy to use
• Provides alternatives if you are unhappy with the results
• Helps you to plan your monthly budget.

FAQs about Pragathi Krishna Gramin Gold Loan Calculator.

✅ Who is eligible for a Pragathi Krishna Gramin gold loan?

Any Indian citizen between 18 to 70 years who owns gold (coins, bars, jewelry). However, gold bars and coins more than 50 grams each are currently not accepted as collateral for a gold loan.

✅ What is the tenure of a Gold Loan?

The tenure of a gold loan can range from a few days to a few months. In rarest of rare cases, a gold loan lender may extend the period to a few years.

✅ What happens to the gold as collateral?

Once you put up gold as collateral against the gold loan, they are kept with the lending banks or non-banking financial companies secure in their vault till the outstanding gold loan amount is paid fully along with the interest.

✅ Why apply for a gold loan through Dialabank?

When you opt for a gold loan through Dialabank, you can check the interest rates, processing fees, prepayment charges etc. on gold loan offerings by leading banks of India. All the information is available free of charge and Dialabank charges absolutely nothing from the customers to whom it provides consultancy.

✅ How to use the Pragathi Krishna Gramin Bank Gold Loan calculator?

This easy-to-use calculator uses key gold loan data such as principal, time period, and interest rates to calculate the estimated amount you will be paying as instalments. The service is provided to you with zero charges and renders unlimited benefits to you.