What is the interest of a 1 lakh gold loan?

The interest payable on a ₹1 lakh gold loan depends on the interest rate offered by the lender and the tenure of the loan. Interest rates for gold loans typically range from around 8% to 24% per annum, depending on the lender, loan amount, and borrower profile. For example, at an annual interest rate of 12%, the interest for one year on a ₹1 lakh loan would be approximately ₹6,619. The actual amount may vary based on the specific rate, repayment structure, and any applicable charges. Always use a loan calculator to estimate the total interest payable for your loan scenario.