Gold Loan EMI Calculator

The gold loan calculator is a tool that allows you to check how the loan amount is affected basis the gold you wish to submit as collateral.

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Required Gold Weight

17 gms

Monthly EMI

Rs. 8,367

Total Interest

Rs. 401

Total Payment

Rs. 100,401

Today’s Gold Rate @ ₹ 8620 / Gm for 22k purity

Select Type

Required Loan Amount

Interest Rate

- +

Tenure

- +

Check Eligibility

You can also make instant comparisons between gold loan offers from over 6 loan providers on Bajaj Markets

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How Does the Gold Loan EMI Calculator Work?

The gold loan calculator helps you check the amount you can borrow based on the weight and purity of your gold. Simply enter the gold’s weight in grams to check the loan amount. For this calculation, the purity of the metal is considered to be 22 karats. So, ensure to enter the information accordingly.

On the other hand, you can also check how much gold you need to submit as collateral to get the loan amount you need. Just enter the amount you wish to borrow in the calculator. Following this, the gold you must provide as collateral to get the loan will be displayed on the screen within seconds.

Key Features and Benefits of Using a Gold Loan Calculator

Here are some benefits of using a gold loan eligibility calculator that you should know about:

Precise Calculations: Based on the gold's weight and purity, the loan amount is estimated with a simple algorithm on which the calculator functions. This helps avoid any errors or miscalculations, which may happen during manual calculations.
Time-saving: Manual calculations take up a lot of your time and can be very tedious. The gold loan calculator can help you calculate the loan amount within seconds, helping you save time and effort.
Easy Comparison: You can enter multiple loan amounts to check the gold you need to pledge in each case. This can help you check and compare options to find a loan offer that best suits your needs.
User-friendly: This online calculator is simple to use, offering quick results with minimal inputs, and easily accessible to all
Transparency: It provides clarity on the loan amount you may qualify for, ensuring you have a clear understanding of your loan eligibility

Why Choose Bajaj Markets for Gold Loans?

Here’s why Bajaj Markets is the ideal platform for a gold loan:

Compare & Choose: Bajaj Markets offers access to multiple gold loan providers, ensuring you find the best interest rates and loan terms in one place
Seamless Online Application: Apply for a gold loan via the Bajaj Markets app or website in minutes, with minimal paperwork and get instant approval
100% Transparency: Get clear information on the loan terms, upfront fee disclosure, and real-time loan tracking, for a stress-free borrowing process
Safe & Secure Loan Process: Enjoy RBI-compliant lending, insured gold storage, and a fully digital loan management system, ensuring complete peace of mind

Factors Affecting the Gold Loan Amount

The amount you can borrow against your gold depends on several key factors. Here’s what influences the gold loan amount:

Gold Purity & Weight

Lenders offer loans based on the karat value (18K-24K) and net weight of the pledged gold. Higher purity results in a higher loan amount.

Loan-to-Value (LTV) Ratio

According to RBI guidelines, lenders can offer a loan amount of up to 75% of the gold’s current market value. The exact LTV may vary based on lender policies.

Gold’s Market Price

Daily fluctuations in gold rates impact the loan amount. A higher gold price means you can secure a higher loan value.

Lender’s Policies

Different banks and NBFCs have varying eligibility criteria and valuation methods, which may influence the final approved amount.

Repayment Tenure & Type

Some lenders offer higher loan amounts for shorter tenures or specific repayment structures, such as bullet payments.

So, before you apply for a gold loan, conduct thorough research and use tools like the gold loan calculator. This will help you make an informed decision as per your financial situation and requirements.

Disclaimer

The calculation results are based on the values you enter in the calculator. Your EMI amount (including the actual interest amount charged) will depend on the prevailing rates. The results are neither certified nor guaranteed. The repayment schedule presented is for illustration purposes. Confirm the values with your lender prior to applying for the gold loan.

FAQs On Gold Loan Calculator

Does the gold loan calculator consider market fluctuations?

No, the gold loan calculator does not consider daily market fluctuations. It provides an estimated loan amount based on the entered gold weight, purity, and LTV ratio set by lenders. The actual loan amount may vary depending on the prevailing gold price at the time of evaluation.

How is the gold loan amount calculated?

Lenders determine the loan amount based on gold purity, net weight, and the LTV ratio. The exact loan value is finalised after the gold is physically evaluated and verified by the lender.

What is the minimum and maximum tenure for a gold loan?

The tenure for a gold loan varies between a minimum of 7 days and a maximum of 60 months.

How is gold loan interest calculated?

The gold loan interest is calculated on the basis of the principal loan amount and the interest rate charged.

How much gold is required for a loan of ₹1 Lakh?

The amount of gold required for a loan of ₹1 Lakh depends on the current market price of gold and the lender's loan-to-value (LTV) ratio. For instance, to borrow a loan of ₹1 Lakh, you may need to provide approximately 17.82 grams of gold to the lender as collateral, as per current market rates.

What is the LTV available for a gold loan on a per gram basis?

As per RBI guidelines, you can borrow up to 75% of your gold’s appraised value. To understand this better, let’s assume that the value of 1 gram of the gold you mortgaged amounts to ₹8,000. In this case, the bank may allow you to borrow up to ₹6,000. So, to check the maximum loan amount you can get, use the following formula:

Loan amount = weight of gold (in grams) x gold price per gram x LTV ratio

How to calculate gold loan per gram rate for maximum borrowing?

To determine the gold loan per gram rate for maximum borrowing in India, start by checking the current market price of gold. Multiply this price by the weight of your gold in grams. Lenders usually provide loans up to 75% of this total value. For instance, if the gold price is ₹4,500 per gram and you possess 20 grams, your maximum loan would amount to ₹67,500 (which is 75% of ₹90,000).