Gold Loan EMI Calculator

Gold Loan EMI is an Equated Monthly Gold Installment that you have to pay on your loan till the end of your loan tenure. The EMI amount of your loan consists of principal and interest amounts and remains the same throughout the loan tenure. To accurately determine your EMI and plan your expenses better, you can use Gold Loan Calculator, on online platforms such as MyLoanCare. Gold Loan Calculator is an online tool that works on the mathematical algorithm to calculate the EMI on a gold loan if you choose to repay the loan using the gold EMI option.

You can calculate Gold Loan EMI using an online Gold Loan Calculator, which considers factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

You can compare the gold loan EMI for ₹ 1 Lakh at different tenures as provided in the table below:

Loan Tenure	1 years	2 years	3 years
EMI amount for loan amount ₹ 1 Lakh at 9.99%	₹ 8,791	₹ 4,614	₹ 3,226
Total amount you pay back to the bank including principal and interest	₹ 1.10 Lakh	₹ 1.22 Lakh	₹ 1.34 Lakh
Interest you have to pay over loan tenure	₹ 10,371	₹ 21,817	₹ 34,450

The lowest EMI for a tenure of 3 years is ₹ 3,226 at 9.99% . If you take a loan for 2 years at the same rate of interest, you will have to pay a higher EMI of ₹ 4,614 . Similarly, the total interest you have to pay on a gold loan for 3 years and 2 year is ₹ 34,450 and ₹ 21,817 which is much higher for a 1 years loan, at ₹ 10,371 .

To calculate the Gold loan EMI with MyLoanCare, follow the steps as mentioned below:-

• Enter details like Loan amount, Rate of Interest, Loan Tenure.
• You can add an Email ID to get the results on your email.
• Click ‘Submit’.
• EMI will be displayed for the loan amount, tenure and interest rate which you have filled.
• You can recalculate the EMI by changing the details.
• You will also get a detailed EMI calculation on your Email ID.
• To get the results on your phone, enter your mobile number and verify OTP.

MyLoanCare Gold Loan EMI Calculator helps you calculate the gold installments against your pledged gold anytime, anywhere, free of cost. It is always better to consider a gold calculator online over manual calculations to get more accurate and reliable results.

Here are some other benefits of using MyLoanCare Gold Loan EMI Calculator:

• It saves your time by calculating EMI in seconds.
• You can easily know your gold loan EMI in advance, and the amount you have to pay to the bank every month from your income. Thus, helping you to manage your budget.
• You can compare multiple EMIs for different loan tenures as well as rates and choose the loan EMI scheme that suits your monthly budget.
• With MyLoanCare Gold Loan Calculator, you have the option to receive EMI calculation in your email or as a link on SMS.

A Gold Loan Calculator uses a simple mathematical formula to calculate your EMI. The formula to calculate loan EMI is given below-

EMI = [P*R* (1+R)^N/([(1+R)^N]-1)

In the above formula,

• P = The loan amount that you want to borrow
• r = The rate of interest per month
• n = The tenure of loan repayment in months

Bank	Lowest Rate	Lowest EMI Per Lakh	Monthly EMI For ₹ 3 Lakh	Max Tenure
PNB	8.75%	₹ 11,475	₹ 34,425	12 months
ICICI Bank	9.00%	₹ 11,391	₹ 34,172	12 months
Yes Bank	9.99%	₹ 10,287	₹ 30,861	36 months
Fincare Small Finance Bank	10.99%	₹ 9,236	₹ 27,708	9 Months
Muthoot	11.99%	₹ 8,660	₹ 25,979	36 months
Axis Bank	13.50%	₹ 7,679	₹ 23,036	24 months

✅How does a Gold loan EMI calculator work?

Gold Interest Calculator uses the combination of the loan amount, loan tenure and interest rate to calculate gold on EMI online. It works on the mathematical algorithm and gives accurate and detailed results to pre-plan your loan payments. All you need to do is enter these details, and you can know your monthly EMI.

✅What is the EMI for a gold loan?

EMI stands for Equated Monthly Installment. Gold loan EMI is the installment you repay to the lender against the borrowed amount, including the principal amount and interest. You can calculate the EMI on gold using an online jewellery calculator. The EMI varies as per factor that impact gold loan EMI, such as loan tenure, interest rate and amount.

✅What are the benefits of a gold loan calculator?

A jewel loan calculator gives you an estimate of the EMI you need to pay at a varying interest rate and tenure. Gold loan calculator is available free of cost at all online marketplaces like MyLoanCare. The calculator gives reliable and accurate results in no-time, via a hassle free process. You just need to enter details like loan tenure, gold loan interest rate and loan amount. Thereby, with the help of this calculator, you can plan your EMI and other expenses in advance.

✅What is the EMI for ₹ 10 Lakh gold loan?

The EMI on gold loan for loan amount of ₹ 10 Lakh will be different for different loan tenures based on the lowest gold loan interest rate of 9.99%.

Tenure	Gold Loan EMI
1 Year	₹ 87,911
2 Year	₹ 46,140
3 Year	₹ 32,262

✅How are the gold loan interest rates in cooperative banks calculated?

You can calculate the gold loan interest in the cooperative bank by subtracting the principal amount from the total amount to be paid. In addition, you can calculate the total amount you would pay by the end of your tenure with the help of a gold loan calculator.

✅What is the EMI for ₹ 1 Lakh gold loan?

The EMI on gold loan for loan amount of ₹ 1 Lakh will vary for different loan tenures as per the lowest gold loan interest rate of 9.99%.

Tenure	Gold Loan EMI
1 Year	₹ 8,791
2 Year	₹ 4,614
3 Year	₹ 3,226

✅What is the EMI for ₹ 5 Lakh gold loan?

The gold loan EMI for loan amount of ₹ 5 Lakh will be different for different gold loan tenures based on the lowest gold loan interest rate of 9.99%.

Tenure	Gold Loan EMI
1 Year	₹ 43,956
2 Year	₹ 23,070
3 Year	₹ 16,131

✅What is the EMI for ₹ 25 Lakh gold loan?

The EMI on gold loan for loan amount of ₹ 25 Lakh will vary across different loan tenures based on the lowest gold loan interest rate of 9.99%.

Tenure	Gold Loan EMI
1 Year	₹ 2,19,778
2 Year	₹ 1,15,351
3 Year	₹ 80,656