Simple Gold Loan Calculator with Indian Norms: Calculate Your Loan Amount and Interest

Simple Gold Loan Calculator with Indian Norms

Calculate your loan amount and interest with our simple gold loan calculator as per Indian norms. Simply enter the gold weight, gold rate, and interest percentage to get an estimate of your loan amount and total interest.

Gold Weight (in grams):
Gold Rate (per gram):
Interest Rate (per annum):

Note : Above result shown on Fix Tenor of 12 Months i.e. 1 Year and Loan Amount Calculated is 75 % of Gold Amount.

What is a Simple Gold Loan Calculator?

A gold loan calculator is an online tool used to calculate the amount of loan that can be availed against gold as collateral. The calculator takes into account the weight of the gold, the current market rate of gold, and the interest rate offered by the lender to provide an estimate of the loan amount and the total interest payable.

How to Use a Gold Loan Calculator with Indian Norms?

Using our gold loan calculator is simple and straightforward. Follow these easy steps to calculate your loan amount and interest:

Step 1: Enter the Gold Weight

Enter the weight of the gold in grams. This is the weight of the gold that you will be using as collateral to secure your loan.

Step 2: Enter the Gold Rate

Enter the current market rate of gold per gram. This information is readily available on various websites and can be updated frequently.

Step 3: Enter the Interest Rate

Enter the interest rate offered by the lender. This information is usually provided on their website or can be obtained by contacting them directly.

Step 4: Click on Calculate Button

Click on the “Calculate” button to get an estimate of your loan amount and the total interest payable.

Indian Norms for Gold Loan Calculator

In India, the loan amount that can be availed against gold is calculated based on the value of the gold pledged as collateral. The Reserve Bank of India has set the loan-to-value (LTV) ratio at 75% for all gold loans.

This means that if you pledge gold worth Rs. 100,000 as collateral, you can get a loan of up to Rs. 75,000. The remaining Rs. 25,000 is the margin that the lender keeps to cover any losses that may arise in case of a fall in gold prices.

Benefits of Using a Simple Gold Loan Calculator

Using a gold loan calculator has several benefits, some of which are:

1. Accurate Loan Amount Calculation: The gold loan calculator provides an accurate estimate of the loan amount that can be availed based on the current market rate of gold and the weight of the gold pledged as collateral.
2. Saves Time: The gold loan calculator saves time as it provides an estimate of the loan amount and the total interest payable within seconds, eliminating the need to manually calculate the same.
3. Easy to Use: The gold loan calculator is easy to use and requires only basic information such as the gold weight, gold rate, and interest rate offered by the lender.

A gold loan calculator is an essential tool for anyone looking to avail a loan against their gold holdings. By using our simple gold loan calculator as per Indian norms, you can easily calculate your loan amount and total interest payable, saving you time and effort. Make sure to enter accurate information to get the most precise estimate of your loan amount and interest.

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Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses (From RBI Website)

Please refer RBI Article for Gold Loan

• circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22,2014
• DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017.

Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not exceed 75 per cent of the value of gold ornaments and jewellery.

With a view to further mitigate the economic impact of the Covid19 pandemic on households, entrepreneurs and small businesses, it has been decided to increase the permissible loan to value ratio (LTV) for loans against pledge of gold ornaments and jewellery for non-agricultural purposes from 75 per cent to 90 per cent.

This enhanced LTV ratio will be applicable up to March 31, 2021 to enable the borrowers to tide over their temporary liquidity mismatches on account of COVID 19. Accordingly, fresh gold loans sanctioned on and after April 1, 2021 shall attract LTV ratio of 75 per cent.

Other terms and conditions of the above-mentioned circulars shall remain applicable.