What is a Gold Loan EMI Calculator?
It estimates how much loan you can get against your gold and what your EMI will be. With it you can:
- Find the value of your gold from its weight, purity and current rate.
- Know the eligible loan amount based on the LTV ratio.
- See EMI, total interest, fees and total repayment.
- View the full amortization schedule with payment dates.
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How is it calculated?
- Gold value: weight × 24K rate × (karat ÷ 24).
- Eligible loan: gold value × LTV.
- EMI:
P × r × (1+r)n / ((1+r)n − 1), where r is the monthly rate and n the months. - Fees: processing fee plus GST on that fee.
Frequently Asked Questions
What is a gold loan EMI calculator?
It estimates your eligible loan against gold, monthly EMI, interest, fees and total repayment.
How is gold value calculated?
Gold value is weight multiplied by the 24K rate and the purity factor (karat divided by 24).
What is LTV in a gold loan?
Loan-to-Value is the percentage of your gold value that a lender will give as loan. Lenders commonly offer up to 75%.
Are processing fee and GST included?
Fees are shown separately and added to the total repayment. GST is charged on the processing fee.
Is the result final?
No. It is an estimate. Actual loan amount and rate depend on lender policy and gold assessment.