Menu
FREE CREDIT SCORE
BEST INTEREST RATES
FREE CREDIT SCORE
BEST INTEREST RATES
Loan EMI ₹
Total Interest ₹
Total Amount Payable ₹
Copy and share this link
Top 10 Banks with best interest rates :
(* Onwards)
| Sr no. | Bank Name | ROI | Amount Range | Foreclosure Charges |
|---|---|---|---|---|
| 1 | Axis Bank | 17% Onwards | Up to 25 Lacs | 1% of outstanding loan amount |
| 2 | HDFC | 9.3% Onwards | Rs. 10,000 Onwards | Nil |
| 3 | Canara Bank | 9.% Onwards | Up to 35 Lacs | Nil |
| 4 | Muthoot Finance | 11% Onwards | Rs 1500 Onwards | 1% of outstanding loan amount |
| 5 | SBI | 9.7% Onwards | Up to 50 Lacs | Nil |
| 6 | Kotak Mahindra Bank | 10.56% Onwards | Up to 1.5 Crores | 1% of outstanding loan amount |
| 7 | Central Bank of India | 9.35% Onwards | Rs. 1000 Onwards | Nil |
| 8 | Manappuram Gold Loan | 9.90% Onwards | Rs. 10,000 Onwards | 1% of outstanding loan amount |
| 9 | PNB | 9.05% Onwards | Up to 25 Lacs | Nil |
| 10 | Bank of Baroda | 8.90% Onwards | Upto 50 Lacs | Nil |
(*Rate of Interest depends on your Credit Score*)
Gold Loan EMI Calculator:
A Gold Loan EMI Calculator is an online tool that helps you estimate the monthly instalment payments (EMIs) for a loan taken against your gold. By entering details like loan amount, interest rate, and loan tenure, the calculator provides a breakdown of how much you would need to pay each month to repay the loan.
Advantages of a Gold Loan EMI Calculator:
Using a Gold Loan EMI Calculator offers several key advantages for businesses:
Benefits of Gold Loan:
Gold loans come with several benefits, making them a popular choice for individuals who need quick financial assistance:
Quick Processing: The application process is simple and fast, with many lenders offering instant loan approval and immediate disbursement.
Eligibility Criteria for Gold Loan:
While gold loans are accessible to many, certain eligibility criteria must be met for approval:
Gold Purity: The purity of your gold, which is typically measured in karats, plays a role in determining the loan amount you can receive. The gold must meet the lender’s purity requirements.
The Gold Loan EMI Calculator works by allowing you to enter details such as the loan amount, interest rate, and loan tenure. It then uses a mathematical formula to calculate your monthly EMI. This helps you understand how much you will need to pay every month and aids in planning your repayment schedule.
The valuation of your gold is determined by the current market price of gold and the purity of your gold. Lenders will assess your gold’s weight and quality before offering a loan amount. Higher purity and weight usually result in a higher loan amount.
The amount of gold required for a loan depends on the loan-to-value ratio (LTV) set by the lender. Typically, lenders offer 60% to 90% of the gold’s market value as a loan. The more gold you have, the higher the loan amount you can avail. However, the amount is also influenced by factors such as the purity and weight of the gold.
The loan tenure for a gold loan can vary from as short as 6 months to as long as 36 months or more, depending on the lender’s policies.
Choosing the right tenure depends on your repayment capacity, with shorter tenures having higher EMIs but lower total interest costs.
The Gold Loan EMI Calculator cannot directly provide an exact loan amount as it primarily focuses on calculating the EMI. However, by inputting your gold’s estimated value, interest rates, and tenure, the calculator can give you an approximate EMI amount. To know the exact loan amount, you will need to visit a lender, who will assess your gold’s value and determine the loan offer accordingly.
Using a Gold loan EMI calculator before applying is essential because it helps you understand the monthly financial commitment involved. It allows you to assess multiple factors whether the loan is affordable based on your salary, expenses and lets you explore various loan scenarios (loan amount, tenure, interest rates) to find the best fit. By using our calculator, you can make well-informed decisions, avoid surprises, and effectively plan your finances.
