HDFC
Gold Loan Calculator
Why choose
More often than not, the process of applying for a loan can be extremely time consuming, and tedious due to the time taken to check feasibility, gold purity, borrower eligibility, rolling out an offer, among many other factors. Well it turns out that we at indiagold have a solution for your problem. Now you can get Gold loans processed and disbursed instantly. Trusted by over 20 Lakh customers, indiagold provides instant gold loans and secure gold locker services across India
Low Interest Rates
IndiaGold offers gold loan interest rates starting at just 0.86%* per month! This is one of the lowest interest rates offered in the gold lending market. It essentially translates into a lesser amount paid in interest payments.
HASSLE FREE DISBURSAL PROCESS
The disbursal process is extremely efficient, with little to no time wasted in issuing disbursal using offline processes. Once the loan is approved, the borrowers can get disbursal in a matter of minutes in their bank account, thus making the entire process highly efficient.
MONEY TRANSFER IN JUST 30 MINUTES*
With IndiaGold, loans are now offered quickly with online loan disbursal, helping the borrowers get the much needed money on time instead of waiting for days waiting for loan disbursal.
100% FREE INSURANCE ON YOUR GOLD:
IndiaGold 100% free insurance offered on the collateral. This is a big relief for the borrowers as it gives them the comfort that their collateral is safe!
Quick release guarantee
Collateral release as fast as securing a loan! IndiaGold offers high convenience to the customers in the form of quick release. Quick release guarantee enables the borrowers to get back their gold on time, and utilize the same as they seem fit.
High Loan Amount for your Gold
IndiaGold offers one of the highest Loan to Value (LTV) offered by the lenders. A high LTV offered to the borrowers helps them get the maximum value as a debt from their gold, which helps the borrowers to avail maximum available funds as they see fit.
Instant Disbursal
IndiaGold offers low gold loan processing times and instant disbursal, the entire process of obtaining a gold loan is extremely quick and efficient, enabling the lender to disburse funds in under 30 minutes!! Talk about efficiency!
Low Documentation Requirement
Unlike some other loans available in the market, gold loan documents requirement is pretty low. The reason being the fact that these types of loans are backed by collateral, i.e. your gold. Hence, the entire process of obtaining the loan, including the documentation process is pretty straightforward and less time consuming.
How is Gold Loan EMI Calculated?
LENDING PARTNERS
Benefits of Gold Loan Calculator
There are various loan calculators available online like gold loan calculator, personal loan EMI calculator, home loan calculator, among many. However, even though these are all loan products, these vary greatly. Hence it is essential to use the alright loan calculator to make the correct calculation. There are several benefits of using a gold loan calculator, including:
Quick and easy calculation:
The speed at which one can calculate different loan amounts and possible repayments helps make the borrower an efficient decision all thanks to the lightning quick speed at which the gold loan interest rate calculator works.
Accurate estimation:
A gold loan calculator provides an accurate estimate of the maximum loan amount that can be obtained against the gold collateral. It takes into account the weight and purity of the gold, as well as the prevailing market value, to provide a reliable estimate.
Comparison of loan options:
A gold loan calculator can be used to compare different loan options from different lenders. All the borrower needs to do is punch in various variables to calculate the commercials which will help in decision making.
Financial planning:
A gold loan calculator can help you plan your finances by providing accurate loan estimates essentially helping decide whether a gold loan is the right option for you, and how much you can afford to borrow.
Transparency:
A gold loan calculator provides transparency in the loan calculation process, and helps you understand the various factors that influence the loan amount. This can help you make more informed decisions about your finances, and avoid any surprises or hidden costs later on.
Features of Gold Loan
Attractive interest rates:
As gold loans are secured loans, they are subject to lesser interest rates as compared to other types of loans
Loan-to-value (LTV):
The LTV ratio is 75% maximum, capped by the Reserve bank of India (RBI). For example, if you pledge gold worth Rs 1 Lakh, you can get a maximum of Rs 75,000 as Gold Loan. However, this does not mean that all lenders will offer you a LTV of as high as 75%, this is for the lenders to decide on the basis of their internal lending policies. IndiGold offers one of the best loan to value (LTV) in the lending market.
Lesser processing fees:
The processing fees of gold loans is very less compared to traditional lending products like personal loans. However, the exact amount that is to be charged as a processing fee is communicated at the time of applying for a loan as the amount is influenced by lender specific offers, and policies.
No foreclosure charges:
There are no gold loan charges on foreclosure or prepayment penalty on paying the loan amount before the loan tenure, as compared to other loans. However, it is advised to read the fine prints of the loan agreement to avoid any shocks later.
No credit score requirement:
Since gold loans are backed by gold or gold ornaments as collateral, the gold loan eligibility criteria is not highly dependent on the requirement for credit scores as the collateral helps the lenders set-off their risk of lending.
Conclusion
A HDFC Gold Loan Calculator is an extremely useful calculator for the borrowers who want to avail a loan amount using their ornaments or gold jewellery as collateral. The calculator updates the borrowers about the amount of money that can be availed based on the weight and purity of gold. The calculator also updates the borrowers about the monthly EMI (Equated Monthly Installment) to be repaid.
By having the important variables such as the interest rate and the loan amount, people can easily see the details of the loan, including how much is repaid. It is a better understanding of what is repaid and will enable people to make improved financial decisions.
Gold loans are also unique due to their distinguishing features. Being collateral-based loans, they are prone to being charged lower rate of interest and lower terms like no credit score check. Low processing fee and negotiable repayment terms are also offered to the borrowers. Some lenders in the India gold loan market disburses loans on the spot and offer free cover insurance up to 100% of the gold pledged with indiagold being the prime example. That is one additional security for the borrowers.
On the whole, the Gold Loan Calculator is a wonderful calculator to make lending a simpler affair and enable individuals to understand what the loan agreement is all about and make the necessary decisions.