Gold Loan Calculator: Keeping in mind the needs of Indians, all banks and finance companies offer many types of loans. The common people of the country are taking gold loans in addition to home loans, car loans, personal loans according to their needs. Let us tell you that Gold Loan is a secure loan, in which you borrow money from a bank or finance company by pledging your gold ornaments. The loan amount is fixed based on your gold prices, which is to be repaid with interest in up to 12 months. Today we will know here how much loan you can get on 5 grams of gold?
Loan can be found up to 75% of the price of gold
In today’s time, all the banks and finance companies of the country give gold loans to their customers. The debt under the gold loan depends on the purity and quantity of your gold. Generally, banks and finance companies give loans up to 75 percent of your gold total value. For example, if you have the price of gold kept with you, then you can get a gold loan of up to Rs 75,000. The current gold loan interest rates start from 8 percent and can also go up to 24 percent. Apart from this, banks and finance companies also charge processing fees for gold loans.
How much loan is available on 5 grams of gold
The debt under the gold loan also depends on the purity of your gold. If you have 5 grams of gold of 24 carat, then you can get a loan of up to Rs 30,350. Similarly, if you have 5 grams of gold of 22 carats, then you can get a loan of up to Rs 27,820. If you have 5 grams of gold of 20 carats, then you can get a loan of up to Rs 25,290 and if you have 5 grams of gold of 18 carat, then you can get a loan of up to Rs 22,760. Let us tell you that on the basis of 5 grams of gold, this amount of loan can also contain a little up and down.
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