Gold Loan EMI Calculator

A gold loan EMI calculator is an essential financial tool that helps borrowers understand their monthly repayment obligations when taking a loan against gold. This calculator supports multiple banks including SBI, HDFC, ICICI, Axis Bank, Canara Bank, Bank of Baroda, Indian Bank, PNB, BOI, IOB, Union Bank, Bank of Maharashtra, and IIFL, allowing you to compare different options and find the best gold loan rates.

Gold loans are secured loans where you pledge your gold jewelry or ornaments as collateral. The loan amount is typically 75% to 90% of the gold's value, depending on the bank and purity of gold. Banks like SBI, HDFC, ICICI, and Axis Bank offer competitive interest rates, usually ranging from 9% to 11% per annum. The gold loan EMI calculator helps you calculate the exact monthly installment based on the loan amount, interest rate, and tenure.

When using the gold loan EMI calculator online, you can input details such as gold weight, current gold rate per gram, gold purity (18, 22, or 24 carat), loan percentage, interest rate, and loan tenure. The calculator then computes the EMI, total interest payable, and provides a detailed payment schedule. For banks like Canara Bank, Bank of Baroda, Indian Bank, PNB, BOI, IOB, Union Bank, and Bank of Maharashtra, the calculator uses bank-specific default rates, but you can also customize these values.

The gold loan EMI calculator India is particularly useful for comparing rates across different banks. For instance, SBI gold loan rates might differ from HDFC or ICICI rates. The calculator allows you to switch between banks and see how the EMI changes. Higher purity gold (24 carat) often commands better rates and higher loan percentages compared to 18 or 22 carat gold.

Advanced features of the gold loan EMI calculator include prepayment options, which help you understand how making extra payments can reduce your total interest and loan tenure. The eligibility calculator feature helps determine the maximum loan amount you can avail based on your monthly income and existing EMI obligations. This is especially useful when planning your gold loan with banks like Axis Bank, IIFL, or any other preferred lender.

Whether you're looking for a gold loan from SBI, HDFC, ICICI, Axis Bank, Canara Bank, Bank of Baroda, Indian Bank, PNB, BOI, IOB, Union Bank, Bank of Maharashtra, or IIFL, this comprehensive gold loan EMI calculator provides accurate calculations and helps you make informed financial decisions. The calculator also supports export functionality, allowing you to download the payment schedule for your records.