How To Calculate Gold Loan Interest Rate

Check the rate of interest.

How to calculate gold loan interest rate. Get instant gold loan against your gold jewellery with lowest interest rate at any branch of icici bank in india. Gold loan maximum amount. Other metals stones and gems are excluded from the calculations. Enter the mode of repayment in this case it would be interest principle emi.

We offer safe secure gold loan with simple procedure for personal or business requirements. Your gold loan emi is calculated based upon three parameters namely p principal loan amount r the rate of interest per month and n loan tenure in months. Enter the karats of your gold. This is because you can use the tool to calculate the emi for various gold loan interest rates.

Hdfc bank s gold loan calculator lets you calculate pocket friendly emi lump sum amount. One can get gold loan by 75 of the market value of the net weight of the gold ornaments excluding stones attached to ornaments whichever is less the weight of coins pledged should not exceed 50 grams per borrower gold loan or loan against gold is a secured loan in which a customer pledges his her gold ornaments as a collateral to get cash. In line with the rbi directives we use the average price of 22 carat gold in the previous 30 days. If pledging gold ornaments or jewellery only the parts that are gold are used to calculate the value.

To determine the gold loan rate per gram we employ in house valuers that weigh the pledged jewellery evaluate its purity right in front of you and provide the estimate in writing. It gets calculated automatically on basis of net weight and karatage. The market value of your gold is calculated according to the per gram market rate of gold on the day of the loan application. Interested borrowers can use gold rate interest calculator to find out the latest interest rates offered by the leading banks in india.

Use gold loan emi calculator to calculate the loan amount against your gold ornaments.