Half the country does not know this most important thing related to gold loans! How much gold loan will be available on 5 grams of gold?

Gold Loan Calculator: Anyone can need money in an emergency at any time, in such a situation gold loan comes in front of everyone as a great option. But do you know how much gold loan you can get if you have only 5 grams of gold? Yes, usually you can get a loan of 75% to 90% of the total value of gold. So in such a situation, we will understand from the calculation how much gold loan you can get on 5 grams of gold.

Gold Loan Calculator: People are taking the help of banks and finance companies to meet their increasing financial needs with time. In these options, people are now also taking the help of gold loan. Gold loan is counted in the list of secured loans. Here you borrow money as per your need by mortgaging your gold jewellery. The amount of gold loan is decided according to the quality and quantity of gold. Gold loan is also given at a fixed interest rate and time limit. But do you know how much gold loan you can get on 5 grams of gold.

Like home loan, car loan, personal loan, gold loan also fulfills the needs of the people. Gold loan can be considered as a type of emergency fund. Gold loan often has to be repaid in 12 months along with interest. But today we will know that if you have 5 grams of gold loan, then how much loan can be availed on it and how.

We already know that the loan obtained through gold loan is given on the purity and quantity of gold. Then let us tell you that banks and finance companies give loans up to 75 percent of the total value of gold to the needy. Let us assume that the price of gold is Rs 1,00,000 right now, then you can get a gold loan of only Rs 75,000. Currently, the interest rates on gold loan are around 8 percent to 24 percent.

If you have 5 grams of 24 carat gold, then you can get a gold loan of up to Rs 30,350. If the gold is 5 grams of 22 carat, then you will be given a loan of only Rs 27,820. Similarly, 5 grams of 20 carat gold can get you a loan of up to Rs 25,290. If you have 5 grams of 18 carat gold, then you can get a loan of up to Rs 22,760. However, this loan amount can be slightly up or down.

By the way, for your information, let us tell you that the gold figures related to the amount are decided on the basis of current prices. If the price of gold is high or low, then the amount of gold loan available on 5 grams may vary. In such a situation, never forget to do all the calculations before taking a gold loan. Gold loan have always been a convenient option for people. (Note- The news is based on general information. Loan calculation may change depending on the price of gold)