Gold Loan EMI Calculator

Loan		1 m/10 Lac
Tenure
Interest	%

Copy

EMI

25,000

Interest

500,000

Principal

1,000,000

Total

1,500,000

500 K
(5 Lac)

5 Year

1,000,000

391 K
(3 Lac)

Year

Original

Reduced 𝒊

How to Reduce Interest/ Tenure?

Pay Extra EMI every year. 𝒊
Increase EMI by % every year. 𝒊
Pay Lump-Sum in year. 𝒊

Loan Summary
Loan start year
Tenure reduced	1 year 1 month
Interest saved	108,333

Loan Summary

Loan start year

Tenure reduced

1 year 1 month

Interest saved

108,333

Loan Payment Schedule

Original Reduced

409 K
(4 Lac)

306 K
(3 Lac)

204 K
(2 Lac)

102 K
(1 Lac)

2024

2026

2028

Balloon Payment

Gold Loan EMI

A Gold Loan EMI Calculator is an easy-to-use tool that helps you estimate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. This tool allows you to see how adjustments to the loan amount, tenure, or interest rate can impact your EMI, helping you plan your budget more effectively. It also assists in comparing different loan options and repayment plans, making it easier to manage your gold loan and ensure it fits within your financial goals.

Calculate Gold Loan EMI

To calculate gold loan EMI enter loan details including loan amount, interest rate, tenure and choose months or years.
Click Calculate to view your initial loan breakdown.
Customize payment options with three inputs.
Select a number of extra EMIs per year.
Increase EMIs by a percentage.
Select lump sum payment in a specific year.
Adjust inputs as needed and click Recalculate to update your tenure and interest dynamically.

Eligibility Criteria for Gold Loan EMI

Ownership of Gold: Applicants must own 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: Valid identification and proof of ownership are required for loan processing.
Loan-to-Value Ratio: Lenders usually provide loans up to a certain percentage of the gold's appraised value, known as the loan-to-value ratio. This ensures that the collateral sufficiently covers the loan amount, affecting the gold loan EMI calculation.

Gold Loan EMI Calculator FAQ

How can I reduce my Gold Loan EMI?

You can reduce your Gold Loan EMI by using the following methods that are making extra EMI payments, paying lump-sum amounts, or increasing your EMI amount each year. These options can help lower your overall interest and shorten the loan tenure.

What are the benefits of using a Gold Loan EMI Calculator?

Using a gold loan EMI calculator helps you plan your finances by providing a clear estimate of your monthly payments. It also allows you to explore different loan options, adjust parameters like tenure or interest rates, and understand how these adjustments impact your overall repayment.

What documents are needed to apply for a gold loan?

To apply for a gold loan, you generally need to provide identification documents such as a government-issued ID or passport. Additionally, you must have gold assets, like jewelry, coins, or bars, which will be used as collateral for the loan. The specific requirements may vary depending on the lender.

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	500,000
1 Extra EMI/ year	5 year ▶ 0 year	458,333 ▶ 41,667
2 Extra EMI/ year	5 year ▶ 0 year	408,333 ▶ 91,667
3 Extra EMI/ year	4 year ▶ 1 year	391,667 ▶ 108,333

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	500,000
Increase EMI by 1%	5 year ▶ 0 year	491,667 ▶ 8,333
Increase EMI by 3%	5 year ▶ 0 year	466,667 ▶ 33,333
Increase EMI by 5%	5 year ▶ 0 year	441,667 ▶ 58,333

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	500,000
Pay 10% in 2nd year	5 year ▶ 0 year	458,333 ▶ 41,667
Pay 20% in 3rd year	5 year ▶ 0 year	408,333 ▶ 91,667
Pay 30% in 4th year	4 year ▶ 1 year	400,000 ▶ 100,000

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?

3. How Paying Lumpsum Amount helps?