💰 Tamil Nadu Financial Tool

Tamil Gold Loan & Pawn Interest Calculator

தமிழ் அடகு கடை மற்றும் வங்கி தங்கக் கடன் வட்டி கணக்கிடுவான்

Calculate accurate monthly and daily interest for local pawn shops (ரூ. 1-க்கு வட்டி) and bank gold loans in Tamil Nadu.

⚙️ Loan Parameters / கடன் விவரங்கள்

₹
₹1.5 / month
Popular TN Rates:
Total Repayment Calculation / மொத்தத் தொகை
₹54,525
Principal ₹50,000 + Interest ₹4,525
Total Interest (வட்டி)
₹4,525
Total Duration (காலம்)
6m 1d (181 days)
Monthly Interest (மாத வட்டி):₹750 / mo
Daily Cost (ஒரு நாள் வட்டி):₹25 / day
Effective APR (ஆண்டு வட்டி விகிதம்):18%

⚖️ Gold Loan Value Estimator / நகை கடன் மதிப்பு

Gold Weight (தங்க எடைகள்):16 Grams (2.00 Sovereign / பவுன்)
8g (1 பவுன்)40g (5 பவுன்)80g (10 பவுன்)
(0 for Auto Tier)
Estimated Max Loan Amount (அதிகபட்ச கடன் மதிப்பு):
₹93,160
Total Gold Market Value: ₹1,09,600 (Effective LTV: 85%)

Comprehensive Guide to Gold Loan Interest Calculations in Tamil Nadu

Gold loans (தங்கக் கடன்) and pledge pawn transactions (அடகு கடை வட்டி) are among the most popular micro-financing mechanisms in Tamil Nadu. Whether you are pledging jewel gold at a nationalized bank (like SBI, Indian Bank, Canara Bank), NBFCs (like Muthoot, Manappuram), or traditional local pawnbrokers (அடகு கடை), understanding how monthly interest rates, daily pro-rata charges, and principal repayments work is essential to avoid overpaying.

🏛️ Bank Gold Loans (வங்கிக் கடன்)

  • Uses annual percentage rates (e.g. 8.5% to 11.5% APR).
  • Calculates daily interest based on 365 days in a year.
  • Requires processing fees and valuation fees (0.25% - 0.5%).
  • Pledging period is strictly fixed (bullet repayment or monthly EMI options).

🏪 Pawn Shop Gold Loans (அடகு கடை வட்டி)

  • Rates quoted per ₹100 per month (e.g. ₹1.00, ₹1.50, ₹2.00 per ₹100/mo).
  • ₹1.00 per ₹100/month equals 12% annual interest.
  • ₹1.50 per ₹100/month equals 18% annual interest.
  • ₹2.00 per ₹100/month equals 24% annual interest.
  • Quick disbursement without formal credit checks.

How the ₹100 Pawn Shop Formula (ரூ. 100 வட்டி சூத்திரம்) Works

In traditional Tamil Nadu financing, interest is communicated as a fixed Rupee amount per ₹100 per month.

Monthly Interest = (Principal Amount × Rate per 100) / 100

Daily Interest = Monthly Interest / 30

Total Interest = (Monthly Interest × Months) + (Daily Interest × Remaining Days)

Example: For a principal of ₹50,000 at ₹1.50 per ₹100/month for 5 months:
Monthly interest = (50,000 × 1.5) / 100 = ₹750/month. Total for 5 months = ₹750 × 5 = ₹3,750.

Key Safety Tips when Pledging Gold Jewels (நகையை அடகு வைக்கும் முன் கவனிக்க வேண்டியவை)

1. Check Net Weight (நிகர எடை)

Ensure stones, lac, and enamel weight are deducted so you only pay interest on net gold weight.

2. Take Receipt (அடகு சீட்டு)

Always demand an official receipt mentioning exact gross weight, net weight, rate, and pledge date.

3. Track Due Dates (கெடு நாள்)

Avoid auction notices by servicing interest periodically before the final redemption deadline.

Frequently Asked Questions (FAQs)

Q: What is the standard RBI LTV limit for gold loans?
A: RBI allows maximum Loan-to-Value (LTV) up to 75% of the market value of pledged 22K/24K gold.
Q: What does ₹1.25 interest mean in Tamil Nadu?
A: It means for every ₹100 of principal, you pay ₹1.25 interest per month. This equals 15% annual interest.
Q: Can I pay interest in advance or partial principal?
A: Yes, paying partial principal reduces monthly interest burden for subsequent months.