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Gold Loan EMI Calculator
The Shriram Gold Loan EMI Calculator is designed for customers looking for convenience and clarity while working out their gold loan EMIs. This online tool helps you understand how much you would need to pay each month for a loan against your gold assets, while also offering a clear picture of the total interest outgo.
You can also use this free digital tool to compare different loan scenarios based on inputs like the loan amount desired, interest rate and tenure options from 1 to 12 months, to make informed borrowing decisions.
Loan Details
Kindly enter the loan amount or gold weight you want to pledge.
5 gms
You are required to pledge at least a net weight of 5 grams of Gold for a loan amount of
The loan amount calculated is a rough estimate only. Our trained executives will manually determine the actual value when they examine the gold and its purity physically.
How Does the Gold Loan EMI Calculator Work?
The Shriram Gold Loan EMI Calculator takes into account three primary inputs to calculate your EMIs and total interest payable precisely. Here’s what you need to feed into the calculator to get started:
Once you enter these variables into the calculator, it will quickly work out your EMIs and the total interest that you’ll need to pay. Our gold loan EMI calculator helps you estimate your loan eligibility instantly. While gold loan per gram rates may vary depending on purity and market value, you can use this calculator to plan your payments well ahead of time and manage your finances effectively.
Advantages of Using Gold Loan EMI Calculator
A gold loan interest calculator from Shriram Finance offers several benefits for customers, making it a compelling choice for precise EMI estimations.
Instant EMI Estimation
The Shriram Gold Loan EMI Calculator requires just three simple inputs from you–the loan amount, interest rate and tenure. Once you enter these variables, this digital tool quickly and accurately calculates the EMI and total interest payable over the tenure.
Customisable Scenarios
You can enter different loan amounts, tenure and interest rates to see what the difference in EMIs and interest is and find the plan that suits you best.
Planning and Budgeting
You can use the gold loan interest rate calculator from Shriram Finance to check what your EMIs would look like and therefore, plan your finances well ahead of time.
Time-saving and Free
The Shriram Gold Loan EMI Calculator can be accessed online 24/7 for free. This helps you work out your EMIs whenever you want, saving you time and the stress of manual calculations.
Gold Loan Eligibility Calculation
Calculation of the eligibility for Shriram Gold Loan is a simple and straightforward process. This is how it’s usually done:
Assess Gold Purity
Ensure you offer gold articles of 18 to 22-carat purity to be eligible for a gold loan from Shriram Finance.
Weigh Gold Accurately
To check how much gold loan you are eligible for at Shriram Finance, weigh your gold assets accurately. You must consider the actual weight of the gold, which excludes the weight of stones and other non-gold components.
Check Current Gold Rates
Always consider the current gold rates before applying for a loan to make a correct estimation of the gold loan amount you will be eligible for.
Loan-to-Value (LTV) Ratio
Ensure you are well aware of the LTV ratio to understand how much loan you will qualify for. You can get gold loans up to 75% of the gold value.
Alternatively, you can also use the Shriram Gold Loan Eligibility Calculator to understand how much loan you qualify for against the gold assets you own. Using the calculator takes out the guesswork out of the equation and helps you make confident decisions about your loan.
How to Calculate Gold Loan Interest
- Calculating the interest you’ll pay on a gold loan from Shriram Finance is simple and hassle-free when you use the gold loan interest calculator. All you need to do is enter the desired loan amount, the interest rate you qualify for and the tenure that you are comfortable with. In just seconds, the calculator will give you a clear breakdown of your monthly instalments and the interest you will have to pay over the tenure of the gold loan.
- Using the gold loan calculator from Shriram Finance is simple, seamless and quick. It enables you to make smart borrowing decisions, helping your EMIs and overall finances well. Try out different loan scenarios with our calculator today to get started.
FAQs
How does the gold loan EMI calculator work?
The gold loan EMI calculator from Shriram Finance estimates your EMIs and the overall interest you would end up paying by considering your desired loan amount, interest rate offered to you and the tenure over which you will pay the loan.
What information do I need to use the gold loan EMI calculator?
To use the Shriram Gold Loan EMI Calculator, you will need to feed three inputs into the tool–the loan amount (from ₹5,000 to ₹40,00,000), interest rate (from 10 to 30%* p.a.) and the tenure (from 1 to 12 months).
Is the gold loan EMI calculator accurate?
Yes, the Shriram Gold Loan EMI Calculator is accurate. But it factors in the inputs you provide to calculate your EMIs and total interest. So, to ensure the results are precise, it is important that you feed in only correct information.
How is the gold loan amount determined using the calculator?
The gold loan eligibility calculator does not determine the loan amount you qualify for, but you can get clear information on what the EMI and interest payable are for a particular loan amount. To know the gold loan amount, apply online to receive a verification call. Then, you need to visit our branch with your gold assets to find out the loan amount.
Can I calculate the gold loan amount for any gold purity?
The gold loan EMI calculator lets you enter details like the loan amount, interest rate and the tenure to find out the EMI and the interest payable. However, the online gold loan EMI calculator does not have the feature to enter the purity of the gold asset.
Does the calculator include interest and EMI details?
Yes, the Shriram Gold Loan EMI Calculator provides a breakdown of the total interest you would have to pay and your EMIs, contributing to effective financial planning.
Can I check my gold loan eligibility using the calculator?
No, you cannot check your gold loan eligibility using the online calculator since it is built to understand the EMI and interest payable for a loan amount, interest rate and tenure.
Is the gold loan calculator free to use?
Yes, the gold loan EMI and eligibility calculators are completely free to use.
Does the calculator show the current gold rate?
No, the calculator does not show the current gold rate specifically, but it uses the prevailing market rates in the backend to go about any calculations.
Can I apply for a gold loan directly after using the calculator?
There is no direct connection between using the calculator and applying for a gold loan from Shriram Finance. The calculator is only a means to understand your EMIs and eligibility so that you can plan your finances well ahead of time. You can apply for Shriram Gold Loan any time you want, with or without using the calculator.
Why Shriram Finance Is The Best Financial Partner For Your Gold Loan Requirement
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