Gold Loan Calculator

Looking to unlock the value of your gold without selling it? A gold loan calculator is your digital shortcut to smart borrowing. Instead of guessing how much you can get against your jewelry, this handy tool does the math for you—instantly. Just enter the weight and purity of your gold, and the calculator reveals not only your maximum loan eligibility but also your monthly repayments and total interest. Whether you’re planning for a big purchase or need emergency funds, a gold loan calculator helps you compare options and make confident financial choices—all from the comfort of your home.

Why is the Gold Loan Calculator Important?

• Know Your Loan Eligibility - A gold loan calculator gives you an accurate estimate of the loan amount you can get based on your gold’s weight and purity. This helps prevent borrowing too much or too little.
• Plan Interest Costs - By entering different loan amounts, interest rates, and tenures, you can see the total interest payable over the loan period. This helps you choose a loan plan that fits your budget and minimizes interest expenses.
• Calculate Repayments - The calculator shows your monthly EMI or bullet repayment amount, enabling you to plan your finances and ensure timely repayments without straining your cash flow.
• Compare Lender Offers - You can easily compare interest rates and tenures from multiple lenders by inputting their details into the calculator. This helps you select the best deal without visiting each lender individually.
• Evaluate Prepayment Benefits - Some calculators show how prepayment or early closure affects your interest savings, helping you decide if paying off the loan early is financially beneficial.

How to Use Wishfin Gold Loan Calculator?

Step 1: Access the Calculator - Visit Wishfin’s Gold Loan Calculator page

Step 2: Enter the Required Inputs - For EMI Calculation (Estimate monthly payments):

• Loan Amount (₹) – the amount you wish to borrow
• Rate of Interest (%) – e.g. 7–17% p.a.
• Tenure (Years) – typically 1–7 years. Once entered, the tool shows:
  • Monthly EMI
  • Total Principal & Interest
  • Amortization schedule (monthly breakdown)

Gold Loan Eligibility Criteria

• Age Requirement - Applicants must generally be Indian citizens between 18 and 70 years old, though some lenders may allow up to 75 years depending on their policy.
• Gold Purity and Type - Only gold jewellery with a purity of 18 to 22 karats is accepted as collateral. The gold must be owned by the applicant and not already pledged elsewhere.
• Nationality - Applicants must be residents of India.
• Documentation - Basic documents such as identity and address proof (Aadhaar card, PAN card, voter ID, passport, etc.) are required for verification.
• Credit Score Not Mandatory - A high credit score or extensive credit history is not required, as the loan is secured against gold. However, lenders may evaluate your repayment capacity before approval.
• Repayment Capacity - While credit history is not a primary factor, lenders may still assess your ability to repay the loan through income or financial documents if necessary.

These straightforward criteria make gold loans accessible to a wide range of borrowers seeking quick and convenient financing.

Advantages of the Gold Loan Calculator

1. Instant and Accurate Loan Estimates - A gold loan calculator provides immediate and precise calculations of your eligible loan amount based on the weight and purity of your gold, as well as the prevailing market rates. This removes uncertainty and the risk of calculation mistakes, giving you accurate and current information to support your financial planning
2. Time and Effort Savings - By using an online gold loan calculator, you can assess your borrowing options from the comfort of your home, saving considerable time and effort that would otherwise be spent visiting multiple lenders or performing complex calculations manually.
3. Better Financial Planning - The calculator enables you to plan your loan accurately before applying. You can experiment with different loan amounts, tenures, and interest rates to find a repayment schedule that aligns with your financial capabilities and long-term goals.
4. Transparent Loan Terms - A gold loan calculator breaks down your loan structure, showing the principal, interest charges, processing fees, and total repayment amount. This transparency allows you to fully understand your financial commitments before proceeding with the application.
5. Easy Comparison of Loan Offers - Different lenders may offer varying terms. The calculator allows you to compare loan amounts, interest rates, and tenures across lenders, helping you identify the most cost-effective and suitable borrowing option.
6. Risk Assessment - By providing a complete repayment schedule and total interest outgo, the calculator helps you assess whether the loan fits your risk appetite and financial capacity, reducing the chances of default.
7. Documentation Preparation - Knowing your eligible loan amount and terms in advance helps you prepare the necessary documentation, streamlining the loan application process and reducing approval times.
8. Educational Tool - The calculator helps users understand how different variables, such as gold weight, purity, tenure, and interest rate, impact the overall cost of borrowing, empowering them to make informed decisions.
9. Flexibility for Special Requirements -You can use the calculator to identify the most suitable interest structure, including options with or without agricultural documents, by experimenting with various loan parameters. This ensures your loan choice matches your specific needs and eligibility.

Using a gold loan calculator is an essential step for anyone considering a gold loan, as it empowers you to make informed, transparent, and confident financial decisions.

How to Calculate Gold Loan Eligibility?

Here’s how you can determine your gold loan eligibility:

1. Enter Gold Details - Input the weight of your gold (in grams) and its purity, typically ranging from 18 to 24 karats.
2. Select Loan Tenure - Choose your preferred loan tenure, which can range from a few months to a few years, depending on the lender.
3. Factor in the LTV Ratio - The Loan-to-Value (LTV) ratio—capped at 75% by RBI guidelines—determines the percentage of your gold’s value that can be sanctioned as a loan. Different lenders may offer varying LTV ratios.
4. Use Current Market Price - The calculator uses the prevailing market rate of gold per gram to assess the value of your pledged gold.
5. Get Instant Estimate - After entering these details, the gold loan calculator instantly shows your maximum eligible loan amount based on the formula:

• Eligible Loan Amount= Weight of Gold (grams)×Purity (karats)×Rate per gram×LTV ratio

This process provides a quick, accurate, and transparent estimate of your gold loan eligibility, helping you plan your finances and compare offers from different lenders.

Conclusion

A gold loan calculator is an easy-to-use online tool that lets you quickly determine how much you can borrow by offering your gold as security. Simply input the gold’s weight and purity, the latest market price, and your desired loan tenure, and the calculator will instantly show you the maximum loan amount you qualify for, along with the interest you’ll need to pay during the selected period. This tool empowers borrowers to make informed financial decisions, plan their repayments, and compare loan offers without the need for complex manual calculations. With real-time updates based on prevailing gold prices and lender-specific policies, a gold loan calculator ensures transparency and convenience throughout the borrowing process.