SBI
Gold Loan Calculator

If you’re planning to initiate a SBI gold loan application to fulfill your requirements, it is essential to understand the commercials. In such cases, leveraging a bank loan EMI calculator can help massively as it can give precise insights into the cost of borrowing and how the repayments would look like. A SBI Gold loan calculator is a tool used to estimate the amount of money that can be borrowed against gold jewellery or ornaments. Also find out Gold Loan EMI with the help of this gold loan calculator. If you have all the variables handy, then you may also use loan interest rate calculators online on lenders websites like IndiaGold.
STEP 1
Enter gold weight
grams
GET MAXIMUM VALUE
Get money instantly in your account
Check the value of your gold and claim your cash now!
Pre Approved Loan
;
How to use a
SBI Gold Loan EMI Calculator?
Irrespective of where you are in the loan process, be it just a plan phase, or a more advanced phase where you have the documents required for SBI loan, you can always use an online loan calculator for gold loans to ensure that the numbers are in sync with your loan repayment plan. Using a SBI gold loan EMI calculator is a simple and straightforward process. Here are the steps to use a gold loan EMI calculator:
1. Enter the loan amount that you wish to borrow from the lender.
2. Select the Purity of Gold.
Click on the "Calculate" button.
Based on the Rate of interest of SBI EMI’s will be displayed assuming the duration to be of 6 months, the calculator will instantly display the monthly EMI amount that you will need to pay for your gold loan

GETTING A GOLD LOAN IS A TEDIOUS AND TIME CONSUMING PROCESS, ISN'T IT?

More often than not, the process of applying for a loan can be extremely time consuming, and tedious due to the time taken to check feasibility, gold purity, borrower eligibility, rolling out an offer, among many other factors. Well it turns out that we at indiagold have a solution for your problem. Now you can get Gold loans processed and disbursed instantly.

0.8% RATE OF INTEREST PER MONTH:

This is one of the lowest interest rates offered in the gold lending market. Lower interest rates means the borrowers would have more headspace to repay loans faster, essentially getting rid of the debt and boost credit score in the longer run.

HASSLE FREE DISBURSAL PROCESS:

The disbursal process is extremely efficient, with little to no time wasted in issuing disbursal using offline processes. Once the loan is approved, the borrowers can get disbursal in a matter of minutes in their bank account, thus making the entire process highly efficient.

MONEY TRANSFER IN JUST 30 MINUTES*:

Getting cash disbursal is a tiresome process, and a thing of the past! Modern lenders like IndiaGold loan is now offered quickly with online loan disbursal, essentially helping the borrowers get the much needed money on time instead of waiting for days to avail loan disbursal.

100% FREE INSURANCE ON YOUR GOLD:

One of the biggest selling points, as to why one should consider borrowing from IndiaGold is the 100% free insurance offered on the collateral. This is a big relief for the borrowers as it gives them the comfort that their collateral is safe!

Cover
APPLY ONLINE FOR GOLD LOAN
Gold Loan starting @ 0.8% per month

+91

You will receive a call from our Relationship Manager

Why choose

Trusted by over 20 Lakh customers, indiagold provides instant gold loans and secure gold locker services across India

Hassle Free Online Repayments

Hassle Free Online Repayments

Indiagold not only offers one of the lowest gold loan interest rate in India, but also offers the borrowers with hassle free repayment plans. This goes a long way from the borrower’s perspective as it gives them the headspace to pay off the loan more efficiently while utilizing the funds secured from the gold loan to its full potential.

Quick release guarantee

Quick release guarantee

Collateral release as fast as securing a loan! IndiaGold offers high convenience to the customers in the form of quick release, ensuring that the borrowers get the highest convenience even after closing the loan account.

High Loan Amount for your Gold

High Loan Amount for your Gold

indiaGold offers one of the highest Loan to Value (LTV) offered by the lenders. This enables the borrowers to secure maximum amount of loan against their collateral!

Instant Disbursal

Instant Disbursal

IndiaGold offers instant disbursal, the entire process of obtaining a gold loan is extremely quick and efficient, enabling the lender to disburse funds in under 30 minutes!! Talk about efficiency!

Low Documentation Requirement

Low Documentation Requirement

Unlike some other loans available in the market, gold loan documents requirement is pretty low. The reason being the fact that these types of loans are backed by collateral, i.e. your gold. Hence, the entire process of obtaining the loan, including the documentation process is pretty straightforward and less time consuming.

Get gold loan in 3 easy steps

STEP 1
Request for a new loan

Contact us or give a missed call at  1800-123-999-888. Book a free appointment with our Relationship Manager.

Request for a new loan
STEP 2
Get money in 30 mins

Our relationship manager will contact you to verify your requirements and schedule an appointment to process your gold loan application.

Get money in 30 mins
STEP 3
Gold stored in bank vaults

Your gold is 100% insured and indiagold's responsibility. You can close your loan or pay your EMI directly from the indiagold app.

Gold stored in bank vaults

How is Gold Loan EMI Calculated?

The EMI for a gold loan is calculated using a formula that takes into account the loan amount, loan tenure, and interest rate. The formula for EMI calculation is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P = Loan amount

R = Monthly interest rate

N = Loan tenure in months
Here is an example to help you understand how the EMI is calculated:
Suppose you borrow Rs. 1,00,000 at an interest rate of 12% for a loan tenure of 12 months. Using the formula, the EMI for this loan would be calculated as follows:
EMI = [1,00,000 x 0.01 x (1+0.01)^12]/ [(1+0.01)^12-1]

EMI = Rs. 8,885.87

LENDING PARTNERS

hdfcaxisshivalik

Benefits of Gold Loan Calculator

There are various loan calculators available online like gold loan calculator, personal loan EMI calculator, home loan calculator, among many. However, even though these are all loan products, these vary greatly. Hence it is essential to use the alright loan calculator to make the correct calculation. There are several benefits of using a gold loan calculator, including:

Quick and easy calculation: A gold loan calculator makes it easy to calculate the loan amount against gold jewellery or ornaments. It saves time and effort that would be spent on manual calculations.
Accurate estimation: A gold loan calculator provides an accurate estimate of the maximum loan amount that can be obtained against the gold collateral. It takes into account the weight and purity of the gold, as well as the prevailing market value, to provide a reliable estimate.
Comparison of loan options: A gold loan calculator can be used to compare different loan options from different lenders. By inputting the same information into multiple calculators, you can compare the loan amounts, interest rates, and other terms and conditions offered by different lenders. This enables the borrowers to choose among the best fit gold loan schemes available to them.
Financial planning: A gold loan calculator can help you plan your finances better by providing an estimate of the amount you can borrow against your gold jewelry or ornaments. This can help you decide whether a gold loan is the right option for you, and how much you can afford to borrow.
Transparency: A gold loan calculator provides transparency in the loan calculation process, and helps you understand the various factors that influence the loan amount. This can help you make more informed decisions about your finances, and avoid any surprises or hidden costs later on.

Features of Gold Loan

Attractive interest rates:
As gold loans are secured loans, they are subject to lesser interest rates as compared to other types of loans
Loan-to-value (LTV):
The LTV ratio is 75% maximum, capped by the Reserve bank of India (RBI). For example, if you pledge gold worth Rs 1 Lakh, you can get a maximum of Rs 75,000 as Gold Loan.
Lesser processing fees:
The processing fees of gold loans is very less.
No foreclosure charges:
There are no gold loan charges on foreclosure or prepayment penalty on paying the loan amount before the loan tenure, as compared to other loans
No credit score requirement:
Since gold loans are backed by gold or gold ornaments as collateral, the gold loan eligibility criteria is not highly dependent on the requirement for credit scores. Even though people with lesser credit scores can get these types of loans.

Factors affecting Gold Loan interest Rate

Interest rates on gold loans are typically calculated as a percentage of the loan amount, and it varies depending on the lender, the loan amount, and the prevailing market conditions. The interest rate is usually calculated on an annual basis, but is often expressed as a monthly rate for ease of understanding.

The interest rate for a gold loan is based on several factors, including:

Loan amount: The interest rate may be higher for larger amounts of loan from SBI, as the lender may perceive larger loans to be more risky.
Loan tenure: Longer loan tenures may be associated with higher interest rates, as the lender is exposed to more risk over a longer period of time.
Gold purity: The purity of the gold used as collateral can also affect the interest rate. Lenders may offer lower interest rates for higher-purity gold, as it is considered to be more valuable and easier to sell.
Market conditions:
A gold loan calculator provides transparency in the loan calculation process, and helps you understand the various factors that influence the loan amount. This can help you make more informed decisions about your finances, and avoid any surprises or hidden costs later on.

Once the interest rate is determined, the interest is calculated by multiplying the loan amount by the interest rate and dividing it by the number of months in the loan tenure. For example, if the interest rate is 10% per annum and the loan tenure is 12 months, the monthly interest rate would be 0.83% (10%/12). If the loan amount is Rs. 1,00,000, the monthly interest would be Rs. 830 (1,00,000 x 0.83%/month).

Conclusion

A sbi Gold Loan Calculator is an extremely useful calculator for the borrowers who want to avail a loan amount using their ornaments or gold jewellery as collateral. The calculator updates the borrowers about the amount of money that can be availed based on the weight and purity of gold. The calculator also updates the borrowers about the monthly EMI (Equated Monthly Installment) to be repaid.

By having the important variables such as the interest rate and the loan amount, people can easily see the details of the loan, including how much is repaid. It is a better understanding of what is repaid and will enable people to make improved financial decisions.

Gold loans are also unique due to their distinguishing features. Being collateral-based loans, they are prone to being charged lower rate of interest and lower terms like no credit score check. Low processing fee and negotiable repayment terms are also offered to the borrowers. Some lenders in the India gold loan market disburses loans on the spot and offer free cover insurance up to 100% of the gold pledged with indiagold being the prime example. That is one additional security for the borrowers.

On the whole, the Gold Loan Calculator is a wonderful calculator to make lending a simpler affair and enable individuals to understand what the loan agreement is all about and make the necessary decisions.

OTHER GOLD LOAN CALCULATORS

indiagold Gold Loan CalculatorSBI Gold Loan Calculator

GOLD LOAN IN MAJOR CITIES

Gold Loan in MumbaiGold Loan in PuneGold Loan in ChennaiGold Loan in HyderabadGold Loan in SuratGold Loan in DelhiGold Loan in IndoreGold Loan in Lucknow