gold loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
Loan Amount | ₹100,000 |
Interest % | 8 % |
Tenure (months) | 12 |
Emi (monthly) | ₹ 8,699 |
Total Interest | ₹ 4,386 |
Loan Amount + Interest | ₹ 104,386 |
Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
₹ 24,258 | ₹ 1,839 | ₹ 26,097 | ₹ 75,742 | 24.26 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
₹ 75,744 | ₹ 2,547 | ₹ 78,291 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Factors Consider Before Applying for a Gold Loan
One minor negligence can cost you the rejection of your Gold Loan Application, so be preparedHave you applied for a gold loan yet? If the answer is no, you've probably been wondering how can I get a gold loan. Before you apply for one, check out these factors you should consider before applying for a gold loan.
-
01
Maximum Loan Amount:
Banks offer a percentage of the value of gold as an amount that you can borrow. With gold jewellery, you can get up to 90% of the value of gold in it as a loan amount. The bank has the final say on how much loan amount it will extend to applicants- so if the appraised gold articles are Rs. 10,000 then you would get up to Rs. 9,000 as a loan amount.
-
02
Safety of Your Gold Item :
If you submit your gold articles with a bank, they will take it upon themselves to protect and safeguard it. A lender may also insure your gold articles. If you wish, you can enquire about the bank’s safety measures to safeguard them.
-
03
Loan Payments Default
Loan Payments Default – In the event you fail to pay off your loan amount, the bank reserves the right to auction off your gold articles. You must pay off the amount you have borrowed in a timely manner.
It’s Easy to Get Your Capital Through Your Gold
Most of the time people get afraid of the daunting process and related safety concerns when it comes to applying for a Gold Loan. But with ReferLoan, you can just sit back and relax because the process is going to be smooth as butter.

Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
Most of the time people get afraid of the daunting process and related safety concerns when it comes to applying for a Gold Loan. But with ReferLoan, you can just sit back and relax because the process is going to be smooth as butter.
-
Minimal Documentation
-
Rapid Procedure
-
Instant Approval
-
Determined Loan Tenure
-
Low-Interest Rates
-
Wide Range of Lenders
-
No Collateral Required*
-
Flexible EMIs

Factors that affect the interest rate
Weight and Purity
The amount of gold you can borrow depends on the purity of the gold articles you select. The greater the quality of the gold articles, the higher your maximum loan amount will be.
Income
Most banks do not require income proof from applicants. Banks prefer approving those customers with stable income sources.
Lending rate of banks
The interest rate offered to applicants by banks is determined by the marginal cost of funds (MCLR) or RRLLR. In order to reduce the amount of stress a person may experience, banks are cutting the repo rate much faster to applicants.
Documents Required
PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
Salaried income documents
-
To be eligible for a gold loan, applicants are required to have self-owned gold, gold ornaments or coins appraised by a bank nominated appraiser. You must be 18 years or older, have a steady source of income, and be able to work up to 65 years.
Documents Required
-
Your application form should include 2 passport-sized photographs.
-
To generate the KYC Documents of applicant: PAN card, Passport, Aadhar card, Voter’s ID card, Driving License, Utility Bills.
-
Last 12 months’ bank statement and Any other document required by the lender.
Checklist before you apply
Maximum Loan Amount –
Banks offer a percentage of the value of gold as an amount that you can borrow. With gold jewellery, you can get up to 90% of the value of gold in it as a loan amount. The bank has the final say on how much loan amount it will extend to applicants- so if the appraised gold articles are Rs. 10,000 then you would get up to Rs. 9,000 as a loan amount.
Safety of Your Gold Item –
If you submit your gold articles with a bank, they will take it upon themselves to protect and safeguard it. A lender may also insure your gold articles. If you wish, you can enquire about the bank’s safety measures to safeguard them.
Loan Payments Default –
In the event you fail to pay off your loan amount, the bank reserves the right to auction off your gold articles. You must pay off the amount you have borrowed in a timely manner.
FREQUENTLY ASKED QUESTIONS
The bank offers a gold loan to applicants who meet certain eligibility criteria. These include owning gold ornaments or items, being over 18 years old, and meeting other internal qualifications.
The bank will process your gold articles and issue you a loan within a few days. However, the bank may take some time to appraise them, which could lead to an extended delay. Once the appraisal is complete and verified, you can expect a quick disbursement of the money.
In order to receive your gold ornaments, you will need to repay the entire outstanding amount of money that has been borrowed. However, in some gold loan schemes, you may be able to make a partial payment.
Typically, the interest rate on the gold loan varies from 7% to 11%. However, it may vary according to the worth of the pledging gold asset.
Most lending institutions don’t add up income as an eligibility criterion. You just need to have a gold asset that can pass through the quality check and some important documents.