Gold Loan EMI Calculator
Calculate monthly EMI, total interest, and total repayment for a gold loan. Gold loan rates in India range from 9% (SBI, banks) to 24% (NBFCs). Enter your loan amount, rate, and tenure below for instant results.
Current Gold Loan Rates by Lender (2026)
| Lender | Rate (p.a.) | Max LTV | Processing Fee |
|---|---|---|---|
| SBI Gold Loan | 9.00% – 11.25% | 75% | 0.5% + GST |
| HDFC Bank | 9.50% – 17.95% | 75% | 1% + GST |
| ICICI Bank | 10.00% – 18.00% | 75% | 1% + GST |
| Axis Bank | 10.50% – 17.00% | 75% | 1% + GST |
| PNB Gold Loan | 9.25% – 10.50% | 75% | 0.5% + GST |
| Bank of Baroda | 9.15% – 10.65% | 75% | 0.5% + GST |
| Muthoot Finance | 11.99% – 24.00% | 75% | 0.25% – 1% |
| Manappuram Finance | 12.00% – 24.00% | 75% | 0.5% – 1% |
Rates are indicative, subject to change. Always verify with the lender before committing.
Gold Loan EMI Formula
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
where P = loan amount, r = monthly interest rate (annual / 12 / 100), n = tenure in months.
Gold Loan vs Personal Loan — Which Is Cheaper?
Gold loans (9–15% at banks) are significantly cheaper than personal loans (11–24%) because gold is the collateral. For borrowers with gold assets, a gold loan is almost always the better choice for secured short-term borrowing. The catch: if you default, the lender auctions your gold, so only borrow what you can repay comfortably.
Gold Loan vs Loan Against Securities
Loan against shares/mutual fund units (LAS) can offer rates as low as 9%, similar to gold loans. The advantage: your securities keep earning dividends/returns while pledged. The disadvantage: LTV on equity is lower (typically 50% vs 75% for gold) and mark-to-market margin calls can force partial liquidation during market crashes.
Frequently Asked Questions
What is the interest rate on a gold loan?
Gold loan rates in India range from 9% (SBI, PNB, other PSU banks) to 24% (some NBFCs). Private banks sit in the 9.5–18% range. Rates depend on the lender, loan tenure, LTV ratio, and whether you choose EMI or bullet repayment structure.
How much gold loan can I get per gram?
RBI rules cap LTV at 75% for banks. At a gold price of ₹6,000/gram for 22K, you get approximately ₹4,500/gram. For 24K gold, about ₹5,250/gram. The exact amount depends on daily gold price fixing by the lender.
What is the maximum tenure for a gold loan?
Banks offer gold loans for tenures from 6 to 36 months (sometimes up to 60 months). NBFCs typically offer shorter tenures of 3–12 months. Longer tenure means smaller EMI but more total interest paid.
Can I prepay a gold loan without penalty?
Most gold loan lenders allow prepayment without penalty after a minimum 1–3 month holding period. Since gold loans carry high interest rates, prepay as soon as you have lumpsum cash to reduce total interest significantly.
Is the interest on a gold loan tax-deductible?
Only if the loan is used for business purposes (Section 37) or for construction/repair of a self-occupied property (Section 24b). Personal use gold loans do not qualify for tax deduction.
What happens if I cannot repay the gold loan?
If you default, the lender issues notices (typically 3) then auctions the gold to recover dues. You lose the pledged gold. If auction proceeds exceed dues, excess is returned to you; if less, the lender may pursue you for the shortfall.