A. For Gold loan upto Rs.2.00 lacs : Bullet repayment at the end of 12 months
B. For Gold loan above Rs.2.00 lacs upto Rs.25.00 lacs : Maximum 12 EMIs
Rate of Interest :
A) For Gold loan upto Rs.2.00 lacs : 10%* p.a.
B) For Gold loan above Rs.2.00 lacs upto Rs.25.00 lacs : 10%* p.a.
Service Charges : Applicable from time to time.
Margin : Applicable from time to time.
The applicant must be true owner of the gold ornaments and jewellery to be pledged with the bank.
The applicant should be a local resident.
i.Min: 21 years while applying.
ii.Max: 60 years at loan maturity.
Duly filled form with
i.Income Proof of Applicant (For Loan above 2 Lakhs)
ii.KYC of Applicant
Pledge of Gold ornaments and jewellery is Prime Security.
Other Charges : Testing Charges, Franking Charges.
Loan Calculator Help...
Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
Currency and Date Conventions
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