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ICICI Bank Gold Loan EMI Calculator

ICICI Bank Gold Loan EMI Calculator Sep 2021

Last Updated 24th Sep 2021

  • ICICI Bank gold loan EMI depends upon loan amount, rate of interest and loan tenure.
  • ICICI Bank gold Loan EMI Calculator is an online tool to estimate monthly EMI on gold loan from ICICI Bank and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly ICICI Bank gold loan EMI is ₹ 8,745 as calculated using the lowest interest rate of 9.00% for the maximum tenure of 12 months.
  • The table below gives the EMIs on gold loan from ICICI Bank at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan2 Year loan3 Year loan
₹ 1 Lakh₹ 8,745₹ 4,568₹ 3,180
₹ 3 Lakh₹ 26,235₹ 13,705₹ 9,540
₹ 5 Lakh₹ 43,726₹ 22,842₹ 15,900

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    ICICI Bank Gold Loan EMI Calculator

    ICICI Bank gold loan EMI is a fixed amount of money you pay on your ICICI Bank gold loan and is based on your loan amount, tenure and interest rate. If you want to calculate the gold EMI of ICICI Bank in advance, you can use ICICI Bank gold loan EMI Calculator. ICICI Bank gold loan calculator is an online tool that functions on a mathematical algorithm to calculate monthly EMI, consisting of both principal and interest payment.

    Why Should You Use ICICI Gold Loan EMI Calculator?

    • Calculate the EMI at Different Tenures: ICICI Bank gold loan calculator 2021 helps calculate the EMI with different loan amount and tenure. However, to compare the gold loan EMI at the lowest rate, it is advisable to check with the bank to know the gold loan interest rate you will be eligible for ICICI Bank gold loan.
    • Compare EMI on ICICI Bank Gold Loan: You can also estimate the EMI on ICICI Bank gold loan with other leading banks using ICICI Bank gold loan EMI Calculator at the same loan amount and tenure at varying interest rates.
    • Get Detailed Amortisation Schedule: To calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure, you can use ICICI Bank gold mortgage loan calculator.
    • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. Knowing the outstanding balance is always helpful if you are thinking about gold loan balance transfer.

    ICICI Bank Gold Loan EMI Calculator to Estimate The EMI That Fits Your Budget

    You can use the ICICI Bank gold loan emi calculator to know your ICICI Bank gold loan repayment schedule. To calculate EMI on ICICI Bank gold loan at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on ICICI Bank gold loan calculator. For example, the below-mentioned table shows the calculation of ICICI Bank gold Loan at the various combinations of loan amount and years at the lowest rate of 9.00%.

    EMI on ICICI Bank gold loan is calculated for different loan amounts and tenures at the lowest gold rate of 9.00%.

    Loan Tenure
    Loan Amount 1 Year 2 Years 3 Years
    ₹ 50,000 ₹ 4,373 ₹ 2,284 ₹ 1,590
    ₹ 1 Lakh ₹ 8,745 ₹ 4,568 ₹ 3,180
    ₹ 2 Lakh ₹ 17,490 ₹ 9,137 ₹ 6,360
    ₹ 5 Lakh ₹ 43,726 ₹ 22,842 ₹ 15,900

    ICICI Gold Loan EMI Calculator Formula

    ICICI Bank gold loan calculator works using a simple mathematical formula to calculate your EMI. The ICICI Bank gold loan calculation 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

    If you want to use ICICI Bank calculator to calculate ICICI Bank gold loan EMI at rates ranging from 9.00% to 19.76%, you need to enter values like loan amount, rate of interest, loan tenure on the EMI calculator ICICI Bank gold loan.

    Comparison of ICICI Gold Loan EMI With Other Banks

    Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 2 Lakh Loan Amount of ₹ 5 Lakh
    ICICI 9.00% ₹ 8,745 ₹ 17,490 ₹ 43,726
    Muthoot 11.99% ₹ 3,321 ₹ 6,642 ₹ 16,605
    Axis Bank 13.50% ₹ 4,778 ₹ 9,555 ₹ 23,889
    IIFL 9.24% ₹ 9,516 ₹ 19,033 ₹ 47,581
    PNB 8.75% ₹ 8,734 ₹ 17,467 ₹ 43,668
    Yes Bank 9.99% ₹ 3,226 ₹ 6,452 ₹ 16,131
    Fincare Small Finance Bank 10.99% ₹ 11,626 ₹ 23,252 ₹ 58,130

    How to Pay ICICI Gold Loan EMI?

    There are various methods to pay your ICICI Bank gold loan EMI. To make a ICICI Bank gold loan payment, you can either visit the bank branch and pay through cash, cheque or DD. In addition, the bank also allows ICICI Bank gold loan online payment through net banking and mobile banking facilities.

    ICICI Bank Gold Loan EMI for ₹ 1 Lakh

    The following table shows ICICI Bank Gold Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 9.00%

    Loan Amount Interest Rate Tenure (Year) EMI
    ₹ 1,00,000 9.00% 1 ₹ 8,745
    ₹ 1,00,000 9.00% 2 ₹ 4,568
    ₹ 1,00,000 9.00% 3 ₹ 3,180

    ICICI Bank Gold Loan EMI for ₹ 3 Lakh

    Below mentioned table shows the ICICI Bank gold loan EMI for a gold loan of ₹ 3,00,000 at different tenure at the lowest rate of 9.00%

    Loan Amount Interest Rate Tenure (Year) EMI
    ₹ 3,00,000 9.00% 1 ₹ 26,235
    ₹ 3,00,000 9.00% 2 ₹ 13,705
    ₹ 3,00,000 9.00% 3 ₹ 9,540

    ICICI Bank Gold Loan EMI for ₹ 5 Lakh

    ICICI Bank gold loan EMI for a gold loan of ₹ 5,00,000 at different tenure at the lowest rate of 9.00%, is listed as follows

    Loan Amount Interest Rate Tenure (Year) EMI
    ₹ 5,00,000 9.00% 1 ₹ 43,726
    ₹ 5,00,000 9.00% 2 ₹ 22,842
    ₹ 5,00,000 9.00% 3 ₹ 15,900

    FAQs

    Why should I calculate ICICI Bank loan EMI before taking a loan?

    There are several benefits to calculate EMI for ICICI Bank gold loan as discussed below -

    • If the EMI comes out to be more than your monthly budget, you can apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable.
    • If you already know the EMI you have to pay each month, you can plan your expenses accordingly.
    • You can also opt for gold loan prepayment in future when you have a surplus amount.

    Why Use MyLoanCare’s ICICI Gold Loan EMI Calculator?

    With MyLoanCare ICICI Bank gold loan EMI calculator, you can easily calculate EMI for ICICI Bank gold loan without any hassle in a few seconds and error-free. The calculator works on a mathematical algorithm to calculate the EMI and helps you compare the EMI for varying loan amount and tenure. In addition, you also receive EMI calculation in your email or as a link on SMS.

    How is EMI calculated for ICICI gold loan?

    ICICI Bank calculates gold loan EMI using the mathematical formula as 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

    For What Other Purposes, You can Use ICICI Gold Loan EMI Calculator

    ICICI Bank jewel loan EMI calculator not just helps you calculate and compare the EMI for different loan amounts and tenures. You can also use the calculator to calculate various other charges on a gold loan, including foreclosure, prepayment etc.

    How To Repay ICICI Gold Loan?

    You can repay ICICI Bank gold loan using repayment methods such as EMI, bullet repayment and overdraft. For example, if you want to repay ICICI Bank gold using the EMI option, you can use the ICICI Bank jewel loan calculator to calculate ICICI Bank gold loan EMI payment.


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    ICICI Gold Loan News - Sep 2021
    • 2021-07-09 : ICICI Bank Q1 Net Profit seen up 59.1% YoY to Rs. 4,136.5 crores
      Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects ICICI Bank to report a net profit of Rs. 4,136.5 crore up 59.1% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 15.6% Y-o-Y to Rs. 10,731.6 crore.
    • 2021-04-27 : ICICI Bank reported a massive hike of 261% in its Q4 profits
      ICICI Bank reported a 260% jump in its net profit at Rs 4,403 crore for the quarter ended March 31, 2021. The profit was boosted by retail loans like home, LAP, personal, two-wheeler, car, education and doctor loan along with business and mudra loan. Further, the bank reported a total income of Rs 23,953 crore in January-March from Rs 23,443.66 crore in the year-ago quarter.
    • 2021-03-04 : 10 lakh customers of other bank are using ICICI’s banking app, iMobile Pay
      ICICI Bank reported that 10 lakh customers of other banks have started using its app, ‘iMobile Pay’. The Bank has achieved the feat in three months after it made the app open for all to use, including those not its customers. The bank anticipates that the number is likely to double in two months.
    • 2020-12-08 : ICICI Bank launched interoperable banking app
      ICICI Bank launched a new version of its mobile payment app which is interoperable and allows payments and other banking services to customers of any other bank. The new app will allow customers to link their bank accounts, generate a UPI ID and avail services such as online transactions, opening savings accounts, making investments, applying for loans and credit cards without being an ICICI Bank account holder.
    • 2020-07-09 : Banks exceed digital transaction target set for 2019-20
      The government notified that 17 banks received an overall good rating for their performance on digital transactions in 2019-20, with ICICI Bank topping the list of 56 banks and closed wallets. The result is the indication of ameliorating banking services like providing retail and business loans digitally with ease.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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