Search Suggestions
- Gold Loan
- Money Transfer
- Mutual Funds
Gold Loan Calculator
Emerging as one of the most popular and safest routes for people to avail financial assistance for their immediate needs, gold loans are a type of secured loan that can be availed against gold assets. The gold is pledged as collateral and on the basis of the value of the gold, as per the current market rate, the total amount of money that you can avail as a loan is calculated by the lender.
Gold is an asset that can easily be sold and bought, making it quite the favourable investment avenue among Indians. However, if there is an emergency and you require quick funds, or if you have some plans, like a marriage, vacation, higher education, etc., that require capital, it isn’t necessary for you to sell your gold. Instead, you can use it as collateral and avail a gold loan to meet those immediate financial needs. After a pre-decided tenure, you can pay the borrowed money, along with the applicable interest, back to the lender and get your gold back. As the gold loan is a secured loan, the rate of interest offered for the same is generally quite low.
Muthoot Finance, according to the Power of Trust Brand Trust Report from 2016 to 2020, is the No. 1 Most Trusted Financial Services Brand in India. Muthoot Finance offers a wide range of gold loan schemes that are designed to meet varying customer needs. Availing a gold loan from Muthoot Finance comes with numerous benefits like minimal documentation, low interest rates, and fast disbursals. However, before you choose the gold loan option that you like best, it is important that you put in some time to calculate your eligibility and possible EMIs, so you can make an informed decision.
EMI Calculation for the Gold Loan
Whether you use the online Gold Loan Calculator on the Muthoot Finance website or you visit a nearby branch for an in-house evaluation, it is important that you have at least a basic idea about the value of the gold you want to pledge as well as the amount you will be able to get against it. With this information, you can move on to the calculation of the gold loan EMI that you may have to pay, which will help you make an informed decision regarding the gold loan plan that will suit you best. The Gold Loan Calculator calculates your eligibility, while the Gold Loan EMI Calculator allows you to check whether a gold loan scheme will be affordable for you.
You will first need to select the scheme you are interested in, according to which the calculator will select the applicable rate of interest. The Gold Loan EMI Calculator has sliders for you to enter the loan amount and tenure, after which you will be provided with an estimated EMI amount for that particular gold loan scheme by Muthoot Finance.
Calculations for Gold Loan Repayment
The EMI that you pay for your gold loan has two components, namely the principal amount and the interest. The EMI can be calculated based on your eligibility as shown by the Gold Loan Calculator, the interest rate applicable, and the tenure chosen.
Muthoot Finance offers customers flexible repayment options that you can choose from based on your needs. It is important that you use the Gold Loan EMI Calculator and choose a repayment option that will not cause a financial strain for you.
Gold Loan Schemes
MUTHOOT
ONE PERCENT LOAN
- Small loans at low interest rates.
- Loan Amount: ₹1,500 to ₹50,000
MUTHOOT
PREMIER LOAN
- Maximum loan value & reasonable interest rates.
- Loan Amount: Starting at ₹1 Lac
MUTHOOT
ULTIMATE LOAN (MUL)
- Maximum loan value and discounts on timely interest payments.
- Loan Amount: Starting at ₹1,500
MUTHOOT
OVERDRAFT SCHEME (MOS)
- Ideal for Business owners.
- Loan Amount: ₹2 Lacs to ₹50 Lacs
MUTHOOT
DELIGHT LOAN
- Loans up to ₹2 Lacs with lower interest rates.
- Loan Amount: Starting at ₹1,500
MUTHOOT
MAHILA LOAN
- Special loan scheme for women that’s available at South India branches.
- Loan Amount: ₹1,500 to ₹50,000
MUTHOOT
ADVANTAGE LOAN
- Competitive per gram and interest rates.
- Loan Amount: ₹1,500 to ₹5 Lacs
MUTHOOT
SUPER LOAN
- Maximum loans and discounts on timely interest payments.
- Loan Amount: ₹1,500 to ₹99,900
MUTHOOT HIGH VALUE
LOAN PLUS (MHP)
- Loans curated for the business community.
- Loan Amount: Starting at ₹5 Lacs
MUTHOOT
HIGH VALUE LOAN (MHL)
- Loans which are ideal for longer periods.
- Loan Amount: Starting at ₹3 Lacs
SUPER
SAVER SCHEME (SSS)
- A loan where savings are the first priority.
- Loans Amount: Startng at ₹1.99 Lacs
MUTHOOT
ONE PERCENT LOAN
- Small loans at low interest rates.
- Loan Amount: ₹1,500 to ₹50,000
MUTHOOT
PREMIER LOAN
- Maximum loan value & reasonable interest rates.
- Loan Amount: Starting at ₹1 Lac
MUTHOOT
ULTIMATE LOAN (MUL)
- Maximum loan value and discounts on timely interest payments.
- Loan Amount: Starting at ₹1,500
MUTHOOT
OVERDRAFT SCHEME (MOS)
- Ideal for Business owners.
- Loan Amount: ₹2 Lacs to ₹50 Lacs
MUTHOOT
DELIGHT LOAN
- Loans up to ₹2 Lacs with lower interest rates.
- Loan Amount: Starting at ₹1,500
MUTHOOT
MAHILA LOAN
- Special loan scheme for women that’s available at South India branches.
- Loan Amount: ₹1,500 to ₹50,000
MUTHOOT
ADVANTAGE LOAN
- Competitive per gram and interest rates.
- Loan Amount: ₹1,500 to ₹5 Lacs
MUTHOOT
SUPER LOAN
- Maximum loans and discounts on timely interest payments.
- Loan Amount: ₹1,500 to ₹99,900
MUTHOOT HIGH VALUE
LOAN PLUS (MHP)
- Loans curated for the business community.
- Loan Amount: Starting at ₹5 Lacs
MUTHOOT
HIGH VALUE LOAN (MHL)
- Loans which are ideal for longer periods.
- Loan Amount: Starting at ₹3 Lacs
SUPER
SAVER SCHEME (SSS)
- A loan where savings are the first priority.
- Loans Amount: Startng at ₹1.99 Lacs
-
GOLD LOAN SCHEMES
Avail the best interest rates and quick loan disbursals with Muthoot Finance.
Get More Details
Service Charges relating to Gold Loan
| SL No. | Type of Charges | Corporate | Rate of charges applicable |
|---|---|---|---|
| 1 | Service charges -Fresh loan- Rate applicable on loan amount(IPL/MHL/MHP) | Southern Branches | IPL (1%) ( For 12 months period only), MHP(0.5%) |
| Rest of India | |||
| MHL - 0.50% of the loan amount for limits less than Rs.25 lakhs & 0.25% of the loan amount for limits of Rs.25 lakhs and above. | |||
| MHP - 0.50% of the loan amount | |||
| 2 | Service charges -Fresh loan- Rate applicable per account (ZIL/mos) |
ALL |
ZIL-Rs.50/loan and MOS-Rs.1500/account (For renewals within 12 months Rs.750/account) |
| 3 | Security charges- Fresh loan | Rest of India | 0.15% of loan amount- Minimum Rs.60/- and Maximum Rs.600/- |
| 4 | Token charges- Fresh loan (For schemes except given in S/no. 182) | Southern Branches | Loan up to Rs.10000/- -->Rs.10/- and Above Rs.10000/- -- >Rs.20/- (For digital transfer , charges not applicable) |
| 5 | SMS charges | Southern Branches | Rs.2/per transaction at the time of closure or renewal |
| Rest of India | Rs.5/per transaction at the time of closure or renewal | ||
| 6 | Notice Charges (Applicable for loans under all schemes) | Southern Branches | 3 ordinary notice Rs.10/each and 4th notice-Registered - Rs.70/- |
| Rest of India | 3 ordinary notice Rs.30/each and 4th notice-Registered- Rs.100/- Auction Notice charges Rs.120/- | ||
| 7 | Token lost charges (Applicable for loans under all schemes) | ALL | Rs.25/-(in addition to cost of stamp paper applicable) |
| 8 | Stamp duty levied by State Governments | States🡪Karnataka , Andhra and Rajasthan | Actuals where ever applicable |
| 9 | GCL | ALL | 1.Rs.999/- per 6 months (in case the limit is not used over a period of 6 months) |
| 2. Part release charges of Rs.499/- per transaction. | |||
| 3.If the transaction is through branches then Rs.99/- per transaction. | |||
| 10. | Documentation Charges - Rate applicable per account (MBS/MBP/MBD/MBE) | Rest of India | Rs.2500/- for loan amount less than Rs.100 lakhs & Rs.5000/- for loan amount of Rs.100 Lakhs and above |
Who Can Avail Gold Loans by Muthoot Finance?
Any Indian citizen who is above the age of 18 years is eligible to apply for a gold loan. A gold loan is a great way to fulfil short-term financial requirements. However, like any other loan, the gold loan too is subject to eligibility requirements.
If you are thinking of getting a gold loan, you should first check your eligibility using Muthoot Finance’s Gold Loan Calculator, explore interest rates offered under different schemes, and use the gold loan EMI calculator to confirm affordability. The right amount of research in the beginning can help ensure a seamless loan process.
Muthoot Finance offers easy documentation, instant calculation of gold loan eligibility, low interest rates, flexible repayment options, a Gold Loan EMI calculator, and more. Your gold loan eligibility can easily be calculated using the Gold Loan Calculator that is available on the Muthoot Finance website. With no restrictions on the end-use of the money, you can use it for your personal as well as business requirements without worry.
Eligibility Criteria for a Gold Loan
A gold loan ensures great value for your gold, which otherwise may have been sitting idle in a locker somewhere. A gold loan is offered against pledged gold and hence, the maximum amount that you are eligible to avail will depend on the value of the collateral offered. The weight and purity of the gold are important aspects for the calculation of the gold loan amount that you can get.
When it comes to gold loan eligibility calculation, factors like the age of the applicant, their employment status, credit history, or financial stability are not the main criteria for consideration. The gold loan is a special secured loan, the quantum of which depends on the collateral. If a person defaults on their EMI payments, they are given four notices for payment, after which they are sent an auction notice and their gold is auctioned off. This way, lenders do not face a lot of risk and are even able to offer low interest rates for gold loans.
Gold Loan Eligibility Calculation
Eligibility calculation for a gold loan is solely based on the gold being pledged. You can use the Gold Loan Calculator available on the Muthoot Finance website, where according to the current gold rates, the value of your gold can be calculated per gram. The Gold Loan Calculator uses information like the weight of the gold, the type of gold, and the amount you require and provides an approximate value for your gold loan eligibility. You will also need to provide some basic details like your name and contact information for calculating eligibility.
If you want a more precise calculation of your gold loan eligibility, you will need to visit your nearest Muthoot Finance branch with the gold you want to pledge as collateral. The team at the branch will be able to perform an in-house evaluation of the gold, which will give you the exact weight, purity, and value of your gold.
The amount that you will be able to borrow against the gold will not be equal to the total value of the collateral. Subject to RBI guidelines for loan-to-value, the amount will be a little lower than the actual value of the pledge, in order to mitigate the risks faced by the lender.
Refer a Friend*
Refer a friend & get a Chance to
Win Exciting Muthoot Finance Merchandise
Ask an Expert
NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212
SOUTH INDIA CALL CENTER NO.:
99469 01212
WRITE TO US:
mails@muthootgroup.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
Refer a Friend*
Refer a friend & get a Chance to
Win Exciting Muthoot Finance Merchandise
Ask an Expert
NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212
SOUTH INDIA CALL CENTER NO.:
99469 01212
WRITE TO US:
mails@muthootgroup.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
WHAT OUR CUSTOMERS HAVE TO SAY
Maharashtra Speaks
Words from Gujarat
If you are looking for a gold loan, I would 100% suggest that you visit Muthoot Finance. They have a lot of schemes that you can choose from, based on your requirements and the process to avail the loan is very simple.
Sunil B
Kamla Devi
Words From Bengal
If you are looking for the best gold loan in India, I will definitely suggest that you choose Muthoot Finance. I browsed through many different schemes and after that, choosing a gold loan was easy. Highly recommended!
Anant Sinha
I chose to avail a gold loan from Muthoot Finance as it is one of the most trusted gold loan providers and I had only heard good things about their services. The great thing about availing a gold loan from here is that you are offered different benefits such as quick loan disbursal, minimum documentation, etc. Taking a gold loan from the company is really easy. They have quite a simple process for availing a gold loan.
Sneha Singh
I was searching for a gold loan near me and that is when a lot of people suggested me to go for Muthoot Finance. It is counted amongst the most popular gold loan providers in India so it was a logical choice as well. I got the exact amount that I needed and I am glad I chose them. A thing that I liked the most about is that they provide pre and part payment options.
Megha Patil
FAQs
A gold loan calculator is a tool that calculates the value of your gold and the amount of loan you may receive against it depending on the karatage of the pledged gold. The applicants' own gold or gold jewellery must be retained as collateral or security by the lender until the loan is fully repaid.
Muthoot Finance's gold loan calculator is a simple, user-friendly online tool for calculating the monthly/quarterly/half-yearly interest/EMI payable on a gold loan. To ensure total convenience for the client, we request the following essential information:
1. Name
2. Email ID
3. Contact no.
4. State
5. Gold Type
6. The amount you require (INR)
7. Gold Weight (gm)
The Muthoot Finance gold loan calculator is simple to use. It is intended to assist you in determining your gold loan eligibility and the amount of loan you may obtain against your gold. It will also give you an idea of the applicable interest rates and the number of payments required to repay the loan.
Using the Muthoot Finance gold loan calculator has numerous benefits. Among them are the following:
1. It is a free user friendly tool that may be used on any device.
2. You may use it as many times as you like with different combinations to find the best gold loan for you.
3. Calculations are rapid and precise.
A gold loan eligibility calculator is a tool that may help you determine your eligibility for a gold loan. The eligibility for a gold loan per gram calculator is determined by your age, type of gold, and weight of gold. It computes the maximum loan amount you are qualified for. The eligibility calculator is simple to use and convenient.
Gold Loan interest rate is calculated using mutiple factors. You can use the Calculator as well to know the interest and EMIs
The value of your gold will be determined by the weight of the gold items, the current gold rate, and the purity of the gold. The lender will often lend a percentage of the gold's worth, which is known as the gold loan eligibility per gram.
Muthoot Finance finance offers Gold Loans under flexible schemes, with a minimum amount of ₹1,500
Life Transforming Stories
-
Alok Saha from Kolkata expands his Clothing Business
-
Sakina Bano from Delhi establishes her salon business
services we provide
- South +91 99469 01212
- North 1800 313 1212