Monthly EMI: ₹60,730 at 7.5% for 1 years. Total interest: ₹28,760.
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With a ₹7 Lakh gold loan from SBI at 7.5% for 1 years, you will pay a monthly EMI of ₹60,730. The total amount payable is ₹7,28,760, of which ₹28,760 is interest.
At 7.5% interest rate for 1 years, the EMI for ₹7 Lakh Gold Loan from SBI is ₹60,730 per month. Total interest payable: ₹28,760.
SBI offers Gold Loan at 7.50 - 9.50% p.a. The actual rate may vary based on your credit score, income, and the loan amount.
For ₹7 Lakh at 7.5% for 1 years, you would pay approximately ₹28,760 as total interest, making the total repayment ₹7,28,760.
SBI's prepayment policy for Gold Loan: Nil. Making prepayments can significantly reduce your total interest outgo.
SBI offers competitive rates starting from 7.50 - 9.50% with tenure up to 3 years. Compare with other banks on this page to find the best option for your ₹7 Lakh gold loan.