What is the Gold Loan Calculator?
Bank’s Gold loans, grant you quick access to funds against your gold jewellery. The Gold loan calculator is a tool designed to make your application process even more convenient. Use it to calculate the worth of your gold and the loan amount you could receive against it basis its forms (gold coins, jewellery) and caratage.
How does the Gold Loan Calculator work?
Use our Gold loan calculator to gauge the amount you are eligible for against the specific gold jewellery you have.Simply key in the form of gold with you, (specific ornaments, gold coins) its caratage.The Gold loan calculator will display the amount you are eligible to against it. You can click on the ‘Locate Branch’ button to avail an Specific bank Gold Loan.If you have more than one form of gold, just click the ‘Add more’ button on the Gold Loan calculator, and fill in the details for each. The gold loan calculator will also display the amount eligible against each article.
Why choose gold loans?
Gold loans are designed to ensure quick disbursal funds and secure storage of your pledged gold, its features include:
High value loans:
Gold Loans provide you with funds in exchange for your gold, for amounts ranging from Rs 25,001 to Rs 20 lakh.
Quick Loan Processing:
Same day disbursal of funds against all application with complete supporting documents.
Tamper Proof Vaulting:
Secure storage of pledged gold in Axis bank vaults
No charges on part-payment throughout the loan tenure
Flexible Repayment Options:
Choice of repayment options:
Bank provides you with options to schedule your repayment against gold loans. You can choose between paying the interest upfront/monthly with the principal repayable on the date of maturity and paying via EMIs.
Why Gold is valuable?
Gold has been around for many years. It enjoys huge social, cultural, historical, religious, and economic significance in the country. In many countries, it can be bought in the form of bars, coins, jewellery, and in raw form. Gold coins and jewellery are the perfect gifts for any occasion and are truly appreciated by the beneficiary.
Gold is valued not only in the form of ornaments but has also emerged as an incomparable form of investment and savings. It is a true universal currency that can be sold or traded anywhere. As gold requires very little storage space, it needs minimum upkeep and can be carried anywhere easily. Also, many people fail to understand that in today’s free market system, gold is essentially a currency.
People buy gold as it has long-term appeal and value. It is the perfect asset for wealth preservation, as it can be passed down from generation to generation.
As gold is very valuable and can be easily converted to cash, it is popularly used as collateral against loans. Even though it might not be used to pay directly, it can be converted to cash in almost any currency with much ease.
Gold is considered one of the most liquid assets in the world. It is seen as a hedge against inflation and is used as a contingency fund during times of emergencies.