Gold loan strategy

POSTED BY Biju ON July 13, 2012 12:23 pm ONE COMMENT

I am looking to work out a strategy for repaying my gold loans.I have two golad loans one at SBI(Rs 84000) and another at Union Bank (rs 50000) both for 7% interest in the interest subvention scheme(Interest may fall to 4% after subvention if re payed promptly). I am looking for a way to calculate the interest rate and replay the loan as EMI. Please suggest me a way to calculate emi and repayment schedule

One reply on this article “Gold loan strategy”

  1. Dear Biju, what prompted you to go for Gold loan? In case of regular EMI, what ‘ll be the impact for this 7% & 4% thing? Please check it out with bank itself.

    Thanks

    Ashal

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