Gold loan interest calculator
Rs 1,00,000 at 12% a year for 90 days costs Rs 2,959 in interest. Enter your loan, rate and the days you expect to keep it.
Results update as you type. Nothing you enter is stored.
| Days | Interest | To repay |
|---|---|---|
| 30 | Rs 986.30 | Rs 1,00,986 |
| 60 | Rs 1,973 | Rs 1,01,973 |
| 90 | Rs 2,959 | Rs 1,02,959 |
| 180 | Rs 5,918 | Rs 1,05,918 |
| 270 | Rs 8,877 | Rs 1,08,877 |
| 365 | Rs 12,000 | Rs 1,12,000 |
How it works
Many gold loans charge interest daily on the amount outstanding and let you repay early, so the cost depends on the days you keep the loan. The calculator uses simple interest on a 365 day year, the common method; some lenders use other day counts or step up the rate if interest is not paid on time.
Formula
Interest = P x rate / 100 x days / 365
Frequently asked questions
How do I calculate gold loan interest per month?
Multiply the loan by the annual rate, divide by 100 and by 12 (or use 30/365 for a 30 day month).
Is gold loan interest simple or compound?
It depends on the lender; many charge simple interest if you pay on time. Check the sanction letter.
Can I close a gold loan early?
Usually yes; you pay interest for the days used plus any charges in the agreement.
Related
This tool is for information only and is not investment, tax or legal advice. Results depend on the inputs and assumptions you enter; check important figures with the official source or a qualified professional.