Visual EMI Calculator
Loan
Home
Car
Business
Gold
Education
Property
Commercial Vehicle
Personal
Two-Wheeler
Gold Loan EMI Calculator by Flat Rate
EMI
Flat Rate
Reducing Balance
Bullet Payment
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Copy
Share
EMI
2500
Interest
50000
Principal
100000
Total
150000
50 K
5
Year
100,000
39 K
Year
Original
Reduced
𝒊
2500
will be
EMI
for
100000
(100 K)
Loan Amount
for
5
Year
Loan Tenure
at
10.00%
Rate of Interest
.
How to Reduce Interest/ Tenure?
Pay
0
1
2
3
4
5
Extra EMI every year.
𝒊
Increase EMI by
0
2
3
5
7
10
15
20
% every year.
𝒊
Pay Lump-Sum
0
(1 K)
(2 K)
(3 K)
(4 K)
(5 K)
(6 K)
(7 K)
(8 K)
(9 K)
(10 K)
in
0
1
2
3
4
year.
𝒊
Recalculate
Share
Loan
Tenure
Interest
Original
5 year
50000
Reduced
3 year
11 months
39167
Saved
1 year
1 month
10833
Loan Payment Schedule
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Original
Reduced
Balloon Payment
41 K
30 K
20 K
10 K
0
-
-
-
-
-
2024
2026
2028
You are here
-
Home
»
Gold Loan
»
Flat Rate
Percentage calculator
Fraction calculator
LCM HCF Calculator
Average Calculator
Trigonometry Calculator
Gold Loan EMI by Flat Rate
A Gold Loan EMI by Flat Rate involves calculating interest on the original loan amount throughout the entire loan term, resulting in fixed, equal monthly payments. This means that EMIs remain constant, making budgeting easier. However, this method generally leads to higher overall interest costs compared to reducing balance methods, as interest is charged on the full principal for the entire term. Use our Gold Loan EMI Calculator by Flat Rate to calculate your loan repayments accurately. Understand the breakdown of interest and principal to make better financial decisions with your gold assets.
Calculate Gold Loan EMI by Flat Rate
Enter loan details including loan amount, interest rate, tenure, and choose months or years to calculate gold loan EMI by flat rate.
Click Calculate to view your initial loan breakdown and calculate gold loan EMI by flat rate based on your inputs.
Customize payment options with three inputs for effective calculation.
Select a number of extra EMIs per year for better management.
Increase EMIs by a percentage to optimize your payments.
Select lump sum payment in a specific year to enhance your calculation.
Adjust inputs as needed and click Recalculate to dynamically update your tenure and interest. This tool will help you calculate your gold loan EMI effectively.
Flat Rate EMI formula
To calculate Gold Loan EMI, use the Flat Rate EMI formula for precise results. This calculation helps you understand your repayment obligations clearly.
E
M
I
=
P
+
(
P
×
r
×
n
)
n
EMI
= Equated Monthly Installments
P
= Principal loan amount
r
= Monthly interest rate
n
= Number of monthly installments
Eligibility Criteria for Gold Loan EMI by Flat Rate
Ownership of Gold:
Applicants must possess gold assets such as jewelry, coins, or bars that can be pledged as collateral for the loan.
Age:
Borrowers typically need to be at least 18 years old, although some lenders may have higher age requirements.
Documentation:
Providing valid identification documents such as Aadhar card, PAN card, or passport is necessary for loan processing.
Loan-to-Value Ratio:
Lenders usually offer loans up to a certain percentage of the gold's appraised value, known as the loan-to-value ratio. Meeting this requirement ensures sufficient collateral coverage for the loan amount. This is essential for determining your gold loan EMI by flat rate or gold loan EMI options.
Gold Loan EMI Calculator by Flat Rate FAQ
How does Flat Rate EMI differ from a Reducing Balance EMI?
Flat rate EMI calculates interest on the original principal amount throughout the loan term, resulting in fixed, equal monthly payments. In contrast, Reducing Balance EMI calculates interest on the outstanding principal, which decreases with each repayment, leading to gradually lower EMIs and typically lower overall interest costs.
What are the advantages of a Gold Loan EMI by Flat Rate?
Gold loan EMI by flat rate offers predictable monthly payments, aiding in budgeting and financial planning. This method provides simplicity in understanding the repayment schedule, making it ideal for borrowers who prefer straightforward financing.
What are the disadvantages of a Gold Loan EMI by Flat Rate?
Gold loan EMI by flat rate may result in higher interest costs, as interest is calculated on the full principal amount throughout the loan term. Unlike reducing balance methods, flat rate EMIs lack flexibility, with interest not recalculated on the decreasing principal, potentially leading to higher overall repayments.
×
How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
50000
1 Extra EMI/ year
5 year
▶ 0 year
45000
▶ 5000
2 Extra EMI/ year
4 year
▶ 1 year
40000
▶ 10000
3 Extra EMI/ year
4 year
▶ 1 year
39167
▶ 10833
How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
50000
Increase EMI by 1%
5 year
▶ 0 year
49167
▶ 833
Increase EMI by 3%
5 year
▶ 0 year
46667
▶ 3333
Increase EMI by 5%
5 year
▶ 0 year
44167
▶ 5833
How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
5 year
50000
Pay 10% in 2nd year
5 year
▶ 0 year
45000
▶ 5000
Pay 20% in 3rd year
4 year
▶ 1 year
40000
▶ 10000
Pay 30% in 4th year
4 year
▶ 1 year
40000
▶ 10000
How to Reduce Interest/ Tenure?
Making early payments towards Principal amount can reduce your Interest and/ or Tenure.
1. How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
2. How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
3. How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
Let Others Know
✖
Facebook
Twitter
Reddit
LinkedIn
Email
WhatsApp
Copied!