EMI: ₹5,935.09 / month
Total Payable Amount: ₹7,12,210.61
Total Interest Payable: ₹2,12,210.61
| No. | Year | Opening Balance (₹) | Principal Paid (₹) | Interest Paid (₹) | Total Paid (₹) |
|---|---|---|---|---|---|
| 1 | 2025 | ₹5,00,000 | ₹50,000 | ₹37,500 | ₹87,500 |
| 2 | 2026 | ₹4,50,000 | ₹50,000 | ₹33,750 | ₹83,750 |
| 3 | 2027 | ₹4,00,000 | ₹50,000 | ₹30,000 | ₹80,000 |
| 4 | 2028 | ₹3,50,000 | ₹50,000 | ₹26,250 | ₹76,250 |
| 5 | 2029 | ₹3,00,000 | ₹50,000 | ₹22,500 | ₹72,500 |
| 6 | 2030 | ₹2,50,000 | ₹50,000 | ₹18,750 | ₹68,750 |
| 7 | 2031 | ₹2,00,000 | ₹50,000 | ₹15,000 | ₹65,000 |
| 8 | 2032 | ₹1,50,000 | ₹50,000 | ₹11,250 | ₹61,250 |
| 9 | 2033 | ₹1,00,000 | ₹50,000 | ₹7,500 | ₹57,500 |
| 10 | 2034 | ₹50,000 | ₹50,000 | ₹3,750 | ₹53,750 |
A Gold Loan is a quick and secured financing option where you pledge your gold jewelry to avail funds. It is one of the most preferred loan types in India for those looking for instant cash without selling their gold.
You deposit gold (jewelry or coins) to a bank or NBFC. The lender evaluates the gold’s value and disburses a loan based on a certain percentage of this value, usually up to 75% as per RBI rules. The gold remains with the lender until full repayment. Once the loan (including interest) is paid off, the gold is returned.
Gold loan interest rates in India vary from 7% to 18% p.a. depending on the lender, loan amount, and repayment scheme. While banks generally offer lower rates, NBFCs may provide faster disbursal with slightly higher rates.
Gold loans are faster and cheaper because they are backed by security. If you have idle gold at home, this is a much better choice than a personal loan with high interest and strict eligibility.
A Gold Loan is an excellent option for quick financing without selling your valuable assets. With low documentation, no CIBIL dependency, and affordable interest rates, it’s ideal for short-term needs in India. Just ensure timely repayment to avoid the risk of losing your pledged gold.