Do you Love to buy Gold Jewels?

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

also, agricultural loan for an account will be given to maximum 3 lakhs
But I don't know about this 3%.
Most recently, I did it for 4%

Actually I wanted to ask you about agriculture loan. What is that? Do you get loan after mortgaging the agricultural land or you get loan for buying agricultural inputs?

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

also, agricultural loan for an account will be given to maximum 3 lakhs
But I don't know about this 3%.
Most recently, I did it for 4%

Actually I wanted to ask you about agriculture loan. What is that? Do you get loan after mortgaging the agricultural land or you get loan for buying agricultural inputs?

got on the basis of agricultural land

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

That is a very low rate of interest. In most finance companies and banks the interest rate charged is much higher , almost 10 or 11 per cent...

10- 11 per cent??? Wow! that is too much. Here, even the 5% interest is considered high

55 and less that you are referring to must be with private firms , but banks charge quite high ,so also gold financing firms.Last year ,one of my colleagues borrowed from SBI at a rate of 10.3% ...the interest does add up to quite a bit if not paid regularly since it gets compounded !

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

That is a very low rate of interest. In most finance companies and banks the interest rate charged is much higher , almost 10 or 11 per cent...

10- 11 per cent??? Wow! that is too much. Here, even the 5% interest is considered high

55 and less that you are referring to must be with private firms , but banks charge quite high ,so also gold financing firms.Last year ,one of my colleagues borrowed from SBI at a rate of 10.3% ...the interest does add up to quite a bit if not paid regularly since it gets compounded !

Actually I was mentioning the case with private money lenders. The interest is simple interest and calculated in terms of monthly rate but I think you were referring to annual rate of interest. Right??

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

That is a very low rate of interest. In most finance companies and banks the interest rate charged is much higher , almost 10 or 11 per cent...

10- 11 per cent??? Wow! that is too much. Here, even the 5% interest is considered high

55 and less that you are referring to must be with private firms , but banks charge quite high ,so also gold financing firms.Last year ,one of my colleagues borrowed from SBI at a rate of 10.3% ...the interest does add up to quite a bit if not paid regularly since it gets compounded !

Actually I was mentioning the case with private money lenders. The interest is simple interest and calculated in terms of monthly rate but I think you were referring to annual rate of interest. Right??

Yes jabeen, when it is 5% per month it becomes a really huge amount , the rate banks charge is annual and 10% is not too much.I think a 5% per month interest rate would come to nearly 65% per anum..

We are able to get gold loan in our unavoidable circumstances. Now I also I got gold loan for personal needs. :)

Nobody can help us . our gold help us for giving money

That is very true! Instead of keeping gold in lockers you might as well take a loan when there is need....I hear that the interest rates too are not very high , especially in companies like Sriram finance and Muthoot...

Yeah that's true. When we mortgage gold, the rate of interest is lower than if we simply take loan without mortgaging gold.

can't understand.
can you make it clear?

Actually in our place, if somebody wants to take a loan from somebody the rate of interest is 4-5% depending on the amount taken as loan. However, if the person who wants to take the loan mortgage or keep gold ornaments with the person who is giving the loan, then the rate of interest is 3%.

3% per month is too much, in our area private parties provide loan against gold % 1.5 to 2% per month but the banks provide on much lower rates however such loans are mostly taken by lower or lower middle classes mostly and they are not much aware of this facility.

Indian bank interest rates are 14.75% when I took jewellery loan. now it is reduced 14.50% we took 30,000 means we have to pay 350 every month as interest.

See that is only about 1.2% per month in place of much higher from private money lender.

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

I think this should be 100/ in place of 1000/

Ladies would like to purchase gold jewels.But changing or remelting may be loss.

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

I think this should be 100/ in place of 1000/

yes you are right for each 100 rupees we should pay 1rupee and 25 paisa interest.

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

I think this should be 100/ in place of 1000/

yes you are right for each 100 rupees we should pay 1rupee and 25 paisa interest.

Actually I calculated at 14,5% but your figure makes it 15% per anum, however not a big difference. Did you take it for purchasing a house?

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

I think this should be 100/ in place of 1000/

yes you are right for each 100 rupees we should pay 1rupee and 25 paisa interest.

Actually I calculated at 14,5% but your figure makes it 15% per anum, however not a big difference. Did you take it for purchasing a house?

I take it for purchasing my land. not for a house. I am living in rented house only. :( :( :evil:

See that is only about 1.2% per month in place of much higher from private money lender.

for each 1000 Rupees 1Rupee and 25 paisa per month.

300000 /100 x 1.25= 3750

I think this should be 100/ in place of 1000/

yes you are right for each 100 rupees we should pay 1rupee and 25 paisa interest.

Actually I calculated at 14,5% but your figure makes it 15% per anum, however not a big difference. Did you take it for purchasing a house?

I take it for purchasing my land. not for a house. I am living in rented house only. :( :( :evil:

I hope you shall make your dream house soon and invite all your friends for house warming ceremony. :cheer: :cheer:

Gold prices are always increasing. What about your view about gold. do share your views.

They are still increasing now since stock market too has gone up considerably in the past 2 months.As of now, Gold is expected to hit Rs 32,ooo levels during Diwali, so may be one can still invest in it ... :)

Gold are now in great demand.No normal people can afford to buy it.Its price increases daily.I love to buy gold and also love the design of the gold ornaments but not able to buy it often.

Gold are now in great demand.No normal people can afford to buy it.Its price increases daily.I love to buy gold and also love the design of the gold ornaments but not able to buy it often.

We cannot buy now also as it crossed 30000 rs of 10 gms. That means a gram is 3000 rs which is more high for a normal people.

I love gold ornaments very much because my body does not suite artificial jewellery

On Onam, gold increased 200 rupees for 1 pavan ( 8 grams). We calculate Gold measure in terms of Pavan......

Also, Chingam (this month) is teh best marriage season of Kerala. More than 50% Hindu marriages of 1 year occur within these 30 days. So it's sure, gold price will increase this month.....as Keralites consume a lot of Gold...51 pavan, 101 pavan, 151 pavans or 201 pavans of Gold for normal marriages.....