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Gold Loan Calculator

Gold Loans are saviours during times of financial constraints. It allows you to get instant money to meet your sudden expenditures. However, to make the right decision, it is important to know how the repayment will proceed in the case of gold loans, especially when the repayments are quite flexible. That’s why Gold Loan Calculators hold significance.

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Break-up of Oranment Values

What is a Gold Loan Calculator?

Gold Loan Calculator is a financial tool that allows you to calculate the amount of loan you can receive and the interest you will need to pay over the tenure of your Gold Loan. It is a user-friendly and convenient tool for prospective Gold Loan borrowers. You can use it to calculate the worth of your gold and make accurate financial decisions.

How does the Gold Loan Calculator work?

Using the Gold Loan Calculator online is simple. It works by utilising specific parameters related to your gold. You need to enter the number of ornaments you wish to pledge, their weight, and their cartage (i.e., purity in carats). The calculator will calculate the latest gold value and the amount of loan you can avail of against it. You can even enter the tenure of the loan and the loan amount to know the interest payable on your Gold Loan.

Advantages of Gold Loan Calculator

The Gold Loan Calculator offers numerous advantages and serves as an efficient tool that enables you to align your financial capabilities with your financial goals. It helps you plan your loan accurately before actually applying for the same.

With the Gold Loan Calculator, you can know how much gold you need to pledge and what loan amount you can avail of. Further, it also informs you of the interest you will need to pay over the loan tenure. Additionally, you can identify the most suitable interest structure with or without Agri documents by experimenting with the different loan amounts, tenures, etc. This assists in making informed loan decisions.

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Frequently Asked Questions

  • How is interest calculated for Gold Loans?

    Gold Loans are financing options that offer you flexible repayment methods. The interest calculated for Gold Loans depends on the amount of gold you pledge, the amount of loan you avail and the repayment method you select, i.e., monthly, end of tenure, etc. You are required to pay only the interest portion, followed by a bullet repayment of the principal amount, in the case of monthly interest facility. In the other option, where you repay at the end of the tenure, the interest and principal amount are to be repaid together at the end of the tenure. The Gold Loan Interest Calculator assists you in calculating such interest.

  • How is the Gold Loan interest calculated?

    The Gold Loan interest is calculated by simply applying the interest rate on the amount of Gold Loan you have availed of.

  • How to use an online Gold Loan Calculator?

    The Gold Loan Calculators Online are one of the most useful financial tools to help you calculate the loan amount and EMIs or interest before applying for the loan accurately. To use the online Gold Loan Interest Calculator, you need to submit the ornament type, purity and weight of the gold ornament. You will get to know the gold’s value and the amount of loan you can avail.

  • Why choose Axis Bank’s Gold Loan calculator?

    Using the right interest or EMI calculator for a jewel loan is important to make informed financing decisions and select the lender with the best terms. Axis Bank’s Gold Loan Calculator allows you to select the type of gold ornament, weight, and purity. It automatically calculates the gold value and amount of Gold Loan you can avail of against it.