Gold Loan Calculator | Manappuram, ICICI, Union, Canara

  • Adam
  • November 14, 2025

Calculate gold loan EMI & interest for Manappuram (9.90%+), ICICI (8.75%+), Union Bank, Canara Bank, NBP. Compare rates, LTV & get instant loan eligibility.

Gold Loan Calculator – Manappuram, ICICI, Union Bank, Canara, NBP

Calculate your gold loan EMI, interest, and eligibility across multiple banks including Manappuram Finance (9.90% onwards), ICICI Bank (8.75%-16.75%), Union Bank (8.70%-9.40%), Canara Bank (8.75% onwards), and National Bank of Pakistan (NBP). This comprehensive gold loan calculator helps you determine loan amount based on gold weight, compare interest rates across lenders, calculate monthly EMI or interest-only payments, and find the best gold loan scheme for your needs with instant results and detailed amortization schedule.

💰 Gold Loan Amount Calculator

Calculate eligible loan based on gold weight

Enter weight in grams
Select gold purity
Current market rate
Loan-to-Value: 50%-80%

Gold Loan Amount Results

Eligible Loan Amount
₹2,43,750
Gold Market Value
₹3,25,000
LTV Applied
75%

Calculation Breakdown

Parameter Value
Gold Weight 50 grams
Gold Purity 22 Carat
Rate per Gram ₹6,500
Total Market Value ₹3,25,000
LTV Ratio 75%
Maximum Loan Amount ₹2,43,750

📊 Gold Loan EMI Calculator

Calculate monthly EMI for gold loans

₹10,000 to ₹2 Crore
Choose your lender
Annual interest rate
3 to 36 months

EMI Calculation Results

Monthly EMI
₹17,510
Total Interest
₹10,120
Total Payment
₹2,10,120

Loan Summary

Component Amount
Principal Loan ₹2,00,000
Interest Rate 8.75% p.a.
Loan Tenure 12 months
Bank/Lender Canara Bank
Monthly EMI ₹17,510
Total Repayment ₹2,10,120

💵 Gold Loan Interest Calculator

Calculate total interest on gold loans

Principal amount
Choose lender
Annual rate
Duration in months

Interest Calculation Results

Total Interest
₹8,250
Principal Amount
₹1,50,000
Total Repayment
₹1,58,250

Interest Breakdown

Component Amount %
Principal ₹1,50,000 94.8%
Interest ₹8,250 5.2%
Total ₹1,58,250 100%

⚖️ Compare Banks

Compare gold loan rates across lenders

Bank/Lender Interest Rate Max Loan Amount LTV Ratio Tenure
Manappuram Finance 9.90% - 21.67% p.a. ₹1.5 Crore Up to 75% Up to 12 months
ICICI Bank 8.75% - 16.75% p.a. ₹2 Crore Up to 75% 6-12 months
Union Bank 8.70% - 9.40% p.a. ₹50 Lakh Up to 75% Up to 24 months
Canara Bank 8.75% p.a. onwards ₹35 Lakh Up to 80% Up to 36 months
National Bank Pakistan KIBOR + 4.5% PKR 70 Lakh Based on fineness 1-3 years

Quick Comparison Tips:

  • Lowest Rate: Union Bank and Canara Bank offer starting rates from 8.70%-8.75%
  • Highest Loan: ICICI Bank provides up to ₹2 crore
  • Best LTV: Canara Bank offers up to 80% LTV
  • Longest Tenure: Canara Bank allows up to 36 months

Understanding Gold Loan Calculators

A gold loan calculator is an online tool that helps borrowers estimate loan eligibility, monthly EMI, and total interest payable based on gold weight, purity, current market rates, and lender-specific parameters. These calculators are essential for comparing offers from Manappuram Finance, ICICI Bank, Union Bank, Canara Bank, and other lenders to make informed borrowing decisions.

Gold Loan Interest Rates Comparison 2025

Manappuram Gold Loan Interest Rate

Manappuram Finance, one of India's largest gold loan NBFCs, offers competitive interest rates starting from 9.90% per annum for select schemes with rates going up to 21.67% based on loan amount, tenure, and scheme type. Key features include:

  • Interest Rate Range: 9.90% - 21.67% p.a.
  • Loan Amount: ₹1,000 to ₹1.5 crore
  • LTV Ratio: Up to 75% of gold market value
  • Tenure: Up to 12 months with flexible repayment
  • Processing Fee: ₹25 + applicable taxes
  • Popular Schemes: MT+5 (9.90%), SA+1 (11.50%), DS (12.00%)

ICICI Bank Gold Loan Calculator

ICICI Bank provides gold loans at attractive interest rates with quick processing and minimal documentation:

  • Interest Rate: 8.75% - 16.75% p.a. (Q2 2025: mean 11.57%)
  • Loan Amount: ₹50,000 to ₹2 crore
  • LTV Ratio: Up to 75%
  • Tenure: 6 to 12 months
  • Processing Fee: ₹350 (up to ₹3 lakh), ₹750 (₹3-10 lakh), ₹1,500 (above ₹10 lakh)
  • Per Gram Rate: ₹1,755 - ₹2,145 (based on purity)

Union Bank Gold Loan Calculator

Union Bank of India offers gold loans under multiple schemes at competitive rates:

  • Interest Rate: 8.70% - 9.40% p.a. (Agriculture: 9.00%-9.35%)
  • Loan Amount: Up to ₹50 lakh
  • LTV Ratio: Up to 75% (varies by karat)
  • Tenure: Up to 24 months
  • Per Gram Rate: ₹3,510 to ₹4,680 (based on karat)
  • Schemes: Union Krishi Kamdhenu, Union Swarna Shakti, Union MSME Gold Loan Plus

Canara Bank Gold Loan Interest Rate

Canara Bank offers gold loans through three main schemes with attractive terms:

  • Interest Rate: 8.75% p.a. onwards
  • Schemes: Swarna Loan (8.90%), Swarna Express (8.75%), Swarna Overdraft (8.90%)
  • Loan Amount: ₹5,000 to ₹35 lakh
  • LTV Ratio: Up to 80% of gold market value
  • Tenure: Up to 36 months (3 years)
  • Processing Fee: 0.15%-0.30% (₹125 to ₹3,000)
  • Per Gram Rate: ₹3,725 to ₹4,000

NBP Gold Loan Calculator (National Bank of Pakistan)

National Bank of Pakistan's Cash n Gold scheme offers financing against gold ornaments:

  • Interest Rate: 1 Yr KIBOR + 4.5% (special rate for women: KIBOR + 4.0%)
  • Loan Amount: PKR 50,000 to PKR 70 lakh
  • Per 10 Grams: PKR 188,000 (1 year), PKR 178,000 (3 years)
  • Tenure: 1 year or 3 years with rollover facility
  • Processing Fee: PKR 1,500
  • Repayment: Quarterly/Annual markup servicing, principal at maturity

Gold Loan EMI Calculation Formula

Understanding how gold loan EMI is calculated helps in financial planning:

EMI Calculation Formula:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]

Where:

  • P = Principal loan amount
  • R = Monthly interest rate (Annual Rate / 12 / 100)
  • N = Loan tenure in months
  • EMI = Equated Monthly Installment

Example EMI Calculation:

Loan Amount: ₹2,00,000

Interest Rate: 8.75% per annum (Canara Bank)

Tenure: 12 months

Step 1: Calculate monthly rate

R = 8.75 / 12 / 100 = 0.00729

Step 2: Apply formula

EMI = [2,00,000 × 0.00729 × (1.00729)^12] / [(1.00729)^12 - 1]

Step 3: Calculate

EMI = [2,00,000 × 0.00729 × 1.0912] / [1.0912 - 1]

EMI = [1,591.01] / [0.0912]

Monthly EMI = ₹17,446

Total Payment: ₹17,446 × 12 = ₹2,09,352

Total Interest: ₹2,09,352 - ₹2,00,000 = ₹9,352

How to Calculate Eligible Gold Loan Amount

The loan amount you can get against gold depends on weight, purity, market rate, and LTV ratio:

Loan Amount Formula:

Loan Amount = Gold Weight × Rate per Gram × LTV Ratio

Where:

  • Gold Weight = Weight in grams (adjusted for purity)
  • Rate per Gram = Current market price per gram
  • LTV Ratio = Loan-to-Value percentage (50%-80%)

Example Loan Amount Calculation:

Gold Weight: 50 grams

Gold Purity: 22 carat (91.6% pure)

Market Rate: ₹6,500 per gram (22K)

LTV Ratio: 75%

Step 1: Calculate total gold value

Gold Value = 50 grams × ₹6,500 = ₹3,25,000

Step 2: Apply LTV ratio

Eligible Loan = ₹3,25,000 × 75% = ₹2,43,750

Maximum Loan Amount: ₹2,43,750

Gold Loan Repayment Options

1. Regular EMI (Equated Monthly Installment)

Pay fixed monthly amount including principal and interest. Best for: Salaried individuals with regular income.

2. Interest-Only Payment

Pay only monthly interest, repay principal at maturity. Best for: Business owners needing working capital.

3. Bullet Repayment

Pay entire principal + interest at loan maturity. Best for: Short-term funding needs.

4. Overdraft Facility

Pay interest only on utilized amount. Best for: Flexible credit requirements.

Factors Affecting Gold Loan Interest Rates

  • Gold Purity: Higher karat (22K, 24K) gets better rates than lower karat (18K, 20K)
  • Loan Amount: Larger loans may get preferential rates in some schemes
  • LTV Ratio: Lower LTV (60-70%) may qualify for better rates than maximum 75-80%
  • Repayment Method: Regular EMI may have different rates than bullet repayment
  • Customer Profile: Women borrowers get 0.25%-0.50% discount in some banks
  • Credit History: Good CIBIL score may help negotiate better rates
  • Scheme Type: Special schemes (agricultural, MSME) may have subsidized rates
  • Market Conditions: Rates linked to RBI repo rate and MCLR benchmarks

Frequently Asked Questions

What is the interest rate for Manappuram gold loan?
Manappuram Finance offers gold loan interest rates starting from 9.90% per annum for the MT+5 scheme (₹5 lakh minimum) and going up to 21.67% p.a. base rate depending on the scheme selected. Popular schemes include: MT+5 at 9.90%, SA+1 at 11.50%, and DS at 12.00%. The effective annualized rate after compounding is 23.96%. Rates vary based on loan amount (₹1,000 to ₹1.5 crore), LTV ratio (50%-75%), repayment frequency (monthly, bimonthly, quarterly), and scheme type. Processing fee is ₹25 + GST. Lower rates apply for higher loan amounts and prompt repayment schedules.
How to calculate EMI for gold loan?
Use formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]. P=principal, R=monthly rate (annual/12/100), N=months. Example: ₹2L at 8.75% for 12 months: R=0.00729, EMI=[200000×0.00729×(1.00729)^12]/[(1.00729)^12-1]=₹17,446. Total payment=₹2,09,352, interest=₹9,352. Alternatively, use online gold loan EMI calculators from Manappuram, ICICI, Union Bank, or Canara Bank websites. Input loan amount, interest rate, tenure to get instant EMI with amortization schedule. Many gold loans offer interest-only payment options where you pay monthly interest and principal at maturity.
Which bank has the lowest gold loan interest rate?
As of 2025, Union Bank (8.70%-9.40%) and Canara Bank (8.75% onwards) offer the lowest gold loan interest rates among major Indian banks. Union Bank rates: 8.70%-9.40% for general schemes, 9.00%-9.35% for agriculture (lower for women). Canara Bank rates: Swarna Express 8.75%, Swarna Loan 8.90%, Swarna Overdraft 8.90%. ICICI Bank: 8.75%-16.75% (mean 11.57%). Manappuram: 9.90%-21.67%. State Bank of India, Punjab National Bank, and Bank of Baroda also offer competitive rates around 8.50%-10%. Actual rate depends on loan amount, tenure, LTV ratio, and customer profile. Compare total cost including processing fees.
How much loan can I get on 50 grams of gold?
For 50 grams of 22-carat gold at current rate ₹6,500/gram with 75% LTV: Eligible loan = 50 × 6,500 × 0.75 = ₹2,43,750. Calculation varies by: Gold purity (24K gets more than 18K), market rate (fluctuates daily, currently ₹6,200-7,000/gram for 22K), LTV ratio (50%-80%, typically 75%), and bank policy. Examples: ICICI Bank ₹1,755-2,145/gram × 50 × 75% = ₹1,31,625-1,60,875. Union Bank ₹3,510-4,680/gram × 50 × 75% = ₹1,31,625-1,75,500. Canara Bank ₹3,725-4,000/gram × 50 × 80% = ₹1,49,000-1,60,000. Actual amount depends on appraisal. Banks may offer 80-90% LTV for lower amounts.
Can I get a gold loan on 18 carat gold?
Yes, most banks and NBFCs accept 18-carat gold (75% purity) for gold loans, though you'll get lower valuation than 22K or 24K. 18K gold loan amount = weight × 18K market rate × LTV. Lenders accepting 18K: Manappuram (minimum 18 carat), ICICI Bank (18K onwards), Union Bank (18-24 carat), Canara Bank (18-22 carat), most NBFCs. Rate per gram for 18K is approximately 75-80% of 24K rate. Example: If 24K = ₹7,000/gram, then 18K ≈ ₹5,250/gram. Some lenders may charge slightly higher interest for lower purity gold. Always get proper appraisal as ornaments may have additional weight from stones/other metals which isn't counted.
What is LTV ratio in gold loan?
LTV (Loan-to-Value) ratio is the percentage of gold's market value offered as loan. Formula: LTV = (Loan Amount / Gold Market Value) × 100. RBI allows maximum 75% LTV for gold loans (90% for agricultural gold loans). Example: Gold worth ₹1,00,000 at 75% LTV = ₹75,000 loan. Bank LTV ratios: Canara Bank up to 80%, ICICI/Union/Manappuram up to 75%. Higher LTV means: higher loan amount, slightly higher interest rates, more risk for lender. Lower LTV (60-70%) may get: better interest rates, faster processing, easier approval. LTV varies by: loan amount (higher amounts may have lower LTV), gold purity, customer profile, repayment history. Choose LTV based on actual fund requirement.
Is gold loan interest tax deductible?
Gold loan interest is tax deductible only for specific purposes under Income Tax Act: Business Purpose (Section 37): Fully deductible as business expense if gold loan used for business/professional activities. Keep proper records and loan purpose documentation. Not Deductible: Personal gold loans for consumption, education, marriage, medical, or personal needs are NOT tax deductible. Home Purchase (Rare): If gold loan used for home purchase/construction, interest may qualify under Section 24(b) up to ₹2 lakh, but this is uncommon and complex. Agricultural Gold Loans: May have tax benefits for farmers under agricultural income provisions. To claim: Maintain loan documents, usage proof, interest certificates from lender, include in ITR under business income section. Consult CA for specific situations.

Tips for Choosing Best Gold Loan

Compare Interest Rates

  • Check rates across multiple banks/NBFCs
  • Consider total cost including processing fees
  • Look for special schemes (women, senior citizens, farmers)
  • Negotiate rates if you have good credit history

Understand Repayment Options

  • Choose EMI if you have regular income
  • Opt for interest-only if principal repayment is difficult
  • Consider bullet payment for short-term needs
  • Check prepayment/foreclosure charges

Check Processing Time & Documentation

  • NBFCs like Manappuram offer faster processing (30 minutes)
  • Banks may take 1-2 days but offer lower rates
  • Keep documents ready: ID proof, address proof, gold ownership proof
  • Verify lender credentials and RBI registration

Related Calculators