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Gold Loan Calculator
Gold loans are saviors in times of financial distress, allowing you to withdraw money instantly to meet your sudden expenditures. However, repayments are flexible and it is crucial to understand the conditions of your loan to make an informed decision. Our gold loan calculator will help you in your decision making process.
Eligible Loan Amount
₹ 3513
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 the 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.
How to use the Gold Loan Calculator?
Follow these steps to estimate your gold loan instantly!
- 01
Choose the type of gold ornament you wish to pledge from the available options.
- 02
Input the net weight (in gms) of the gold ornament.
- 03
Input the purity of the gold in carats.
- 04
In case of multiple ornaments to be pledged, repeat the above steps for each item by clicking ‘Add Ornaments’.
- 05
Review the total value of your ornaments and the maximum loan amount you can avail.
Disclaimer
Axis Bank’s Gold Loan Calculator is a preliminary tool for estimating the potential loan amount based on the gold you wish to pledge. The results generated are based on inputs regarding the weight and purity of the gold and are meant for informational purposes only. The actual loan amount, terms, and interest rates may vary subject to a detailed verification process, prevailing market conditions, and bank policies. Users are encouraged to consult with a financial advisor to understand all implications fully. Axis Bank does not guarantee the accuracy of the calculator results and will not be held liable for any discrepancies or financial decisions made based on this tool.
Frequently Asked Questions
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.
The gold loan interest is calculated by simply applying the interest rate on the amount of gold loan you have availed of.
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.
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.
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