6 October 2026 · Source: IBJA + local market data
Gold Loan EMI Calculator
Calculate your gold loan EMI instantly. Enter gold weight, interest rate, and tenure to get monthly payment details based on current gold prices.
Calculator
Calculate gold loan EMI
Enter loan details to see your monthly payment breakdown.
Enter Loan Details
Current 24K gold price: ₹13,175/gram
Loan Summary
Gold Value (Market)
₹1,31,752
Loan Amount (at 75% LTV)
₹98,814
Monthly EMI
₹8,687
Total Interest
₹5,434
Total Payment
₹1,04,248
Payment Breakdown
EMI Formula Used:
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)
Where P = ₹98,814, r = 0.8333% monthly, n = 12 months
Formula
How gold loan EMI is calculated
The reducing balance method used by all lenders.
Gold loan EMI is calculated using the standard reducing balance formula: EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate, and n is the tenure in months. The loan amount is determined by the current gold price multiplied by the weight of gold you pledge and the Loan-to-Value (LTV) ratio offered by the lender.
LTV
What is Loan-to-Value (LTV) ratio?
RBI guidelines on maximum loan amount against gold.
LTV ratio determines how much loan you can get against your gold. As per RBI guidelines, the maximum LTV for gold loans is 75%. This means if your gold is worth ₹1,00,000, you can get a maximum loan of ₹75,000. Most banks offer LTV between 60% and 75% depending on the gold purity and their internal policies.
Eligibility
Gold loan eligibility criteria
Basic requirements to apply for a gold loan in India.
| Criteria | Requirement |
|---|---|
| Age | 18 to 70 years (varies by lender) |
| Gold purity | Minimum 18 karats (most lenders prefer 22K or 24K) |
| Gold type | Gold jewellery, coins (up to 50g from banks), bars |
| Documents | PAN card, Aadhaar card, address proof |
| Income proof | Not required in most cases |
Lenders
Banks offering gold loans in India
Interest rates and terms from major gold loan providers.
| Bank / NBFC | Interest rate | Max LTV | Max tenure |
|---|---|---|---|
| SBI | 8.65% - 9.80% | 75% | 36 months |
| HDFC Bank | 9.50% - 14.00% | 75% | 24 months |
| Muthoot Finance | 12.00% - 26.00% | 75% | 36 months |
| Manappuram Finance | 12.00% - 29.00% | 75% | 36 months |
| Federal Bank | 8.90% - 10.90% | 75% | 36 months |
Benefits
Advantages of gold loans
Why gold loans are a popular secured lending option.
- Quick disbursement - often within 30 minutes
- No credit score requirement for approval
- Lower interest rates compared to personal loans
- No income proof or salary slip required
- Flexible repayment options including bullet payment
- Gold is safely stored in bank lockers during the loan tenure
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